Weekend Vibes. Happy Friday and end of July. Here’s your rundown and fast feedback on today’s news in solar.
Support Energy News. EPA doesn’t like the coverage they are getting from E&E News and canceled their subscription. If you can, support E&E by subscribing. They used to have a fantastic TV studio that I’d love to host SolarWakeup TV in. In the meantime, solar should make a deal with coal plants across the Country, shut down the coal plant and replace it with solar plus storage and use the savings to clean up the site and help with job training of the displaced employees.
Virtual Power Plant Contracts. A month ago, if you listened to the SolarWakeup podcast, we had this story in my conversation with Nick Chaset from East Bay Community Energy. This is another virtual power plant using local resources. This type of project will become harder to do in the future based on the decision by the CPUC to take local resource adequacy responsibility off the hands of CCAs and giving it to PG&E and SCE.
Home Electrification. In a double newsday keeping my PR friends busy, Sunrun signed a JV with SK E&S, a Korean conglomerate. Each company will contribute $75million to a joint venture aimed at home electrification, which will be interesting to watch and understand what that means. SK E&S will also buy $75million worth of Sunrun shares at $36 per share.
Earnings Season. Sunnova beat and reaffirmed guidance for the year. Generac is predicting positive cash flow in clean energy in 2020. Next week we get Enphase and Solaredge. In case you missed it, listen to the Generac earnings call and you’ll get a look at how a CEO should handle an earnings call. It was a easy flowing conversation off the cuff without talking points and scripts. Solar companies should take note.
Utilities As Public Good. Utilities get monopoly status because they have a public responsibility, a responsibility to serve. This has been hijacked by shareholder desire for growth and dividends. First Energy is not out of the woods as 5 people get indicted by an Ohio grand jury including the Ohio Speaker of the House. It shows how far utilities are willing to go to get what they want from politicians and regulators. It seems beyond potential to rectify the situation but let’s hope it can be done.
CPV Project Goes Bust. A SolarReserve project has gone bust and a DOE loan guarantee will lose a little over $200million. Digging into PR talking points from 5 years ago, here is what the SolarReserve CEO had to say about the future of CPV at the time “We can’t power the planet with rooftop solar and the case for developing CSP when PV is cheaper.” I think rooftop solar won.
- E&E News: N.M. shuns gas, chooses renewables to replace coal
- Greentech Media: Sunrun Lands Contract for 20MW Backup Battery-Solar Project in Blackout-Prone California
- PV-Tech: Sunnova earnings increase as firm aims to ‘not only survive, but thrive’ COVID crisis
- Rocky Mountain Institute: Aligning Utility Performance with the Public Interest
- Los Angeles Times: How far will utilities go to protect their fossil fuel investments?
- Axios: Ohio House speaker removed after arrest in bribery scheme
- Reuters: U.S. solar power plant backed by over $700 million in government loans goes bust – filing
- Utility Dive: A blow to small solar, a win for states and utilities? Regulators, analysts assess FERC’s PURPA rule
- Bloomberg: Buffett’s Nevada Utility Signs Up for 22 Years of Solar, Storage
- Vox: Microsoft’s astonishing climate change goals, explained
Opinion
Best, Yann
The post This is your SolarWakeup for July 31st, 2020 appeared first on SolarWakeup.com.
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