BP Solar Comeback. 20 years ago, BP was the talk of the solar town. Just outside of DC, BP made solar modules because solar was the future. Then came Chevron with tax equity but that too passed. When you look at issues facing oil today, part of it is Covid and hundreds of parked airplanes but the other one is that oil is competing with electricity and losing. BP is in the business of powering your method of transportation, that’s why Vitol is out with an announcement expanding their power trading as well. Electricity is the new oil and that’s where the majors are going. Not too long ago, BP said that they couldn’t invest enough capital in renewables. 5 years from now they will have invested tens of billions and more; with less risk and better returns than they get today. Anyone doubting their return expectations go check out their corporate bond costs and ask your friend at NextEra if they expect 8-10% returns as well. Here’s a prediction, in my lifetime the CEO of BP will come from the renewables division and it will be the core revenue generator.
The Greater Responsibility. Peter Parker was told that with great power comes great responsibility. If you haven’t noticed, solar is being asked to do a lot more than install a few panels. Our industry will lead on creating jobs where other industries have left them behind. Remember the Gaval family in Mahanoy City, Pennsylvania living in a home worth less than $115,000? I haven’t stopped thinking about them and how the parents and two sons would surely be an asset to the solar industry and they could each live in their own house. We hold ourselves to a higher standard than just making money. Helping others, making solar inclusive and diverse while creating more jobs than any other sector is part of our DNA. With that internal bar set so high, outsiders will judge us and expect solar to fix it.
EV Charging PubCo. Chargepoint is going public via a reverse merger with a SPAC. This is a great step in the direction to bring charging to retail investors. For me, retail investors create comfort and credibility for the underlying company they are working with. An investor may look at it from a company standpoint and then realize they have 50 chargers in their County and they should get an electric vehicle. It normalizes the concept.
Farewell Spent Rods. I had some long form opinion about the state of nuclear but as much as some utility regulators hold out hope that nuclear is the future, it is merely the past. We will not see another nuclear power plant built in the US and likely other western Countries as well. There are many reasons for this but the biggest one is the lack of capability to actually build one.
SC Rooftop Solar. Vote Solar is calling the agreement with regulators and Duke Energy “the most forward thinking rooftop solar program in the US.” The NEM successor creates a system blended with demand response, storage and other variables in what some would call the biggest step towards performance based compensation. Without modeling out how this actually tracks to homeowners, I have two thoughts on this. First, a deal is a win and certainty beats uncertainty any day. Second, wouldn’t it be fantastic if the monopolies also had performance based compensation and allowed a robust power market in their territory?
Catch Me. If you didn’t get the chance, I was a guest on the Solar Spotlight podcast.
A New Mark. The SolarWakeup Buyer’s Group now has members doing over 200MW in aggregate. This means more vendors wanting to do more with those members and that means savings for you. If you’re curious, check out the price discovery page.
- Axios: BP’s renewable energy plans come into focus
- Vox: We have to accelerate clean energy innovation to curb the climate crisis. Here’s how.
- PV-Magazine: Chargepoint joins growing list of clean energy firms going public via SPAC
- Utility Dive: Duke-solar industry breakthrough settlement aims to end rooftop solar cost shift debates
- Greentech Media: Hitachi Walks Away From Two UK Nuclear Projects
- Bloomberg: Oil Giant Vitol Bulks Up Power Trading in Shift to Electricity
- Grist: Facebook launched a new climate information hub. Here’s how activists reacted.
- Rocky Mountain Institute: Net Zero by 2050 Is Achievable, Affordable, and Will Improve Lives
Opinion
Best, Yann
The post This is your SolarWakeup for September 17th, 2020 appeared first on SolarWakeup.com.
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