Category Archives: SolarCity

Georgia Power starts selling rooftop solar tomorrow

For most of June, Georgia Power has had two ads rotating on the five LED billboards in Valdosta, saying

Giving you the power to go solar —Georgia Power

When? Tomorrow, July 1st, as Southern Company CEO Tom Fanning said at the SO Stockholder meeting 27 May 2015. Why then? Because that’s when HB 57, aka the Solar Power Free-Market Financing Act of 2015, goes into effect. As Tom Fanning has made his mantra since that meeting:

“If somebody wants to buy distributed generation, I want to sell it to ’em,”

Herman K. Trabish, Utility Dive, 11 June 2015 Inside Georgia Power’s move into the residential solar market: The utility says it will offer solar through an unregulated business, but installers fear possible anticompetitive impacts, Continue reading →

A Win: Credit Suisse on SolarCity Buffalo deal

A big bank rave review of the Buffalo deal.

Claudia Assis wrote for MarketWatch 26 September 2014, SolarCity’s N.Y. factory deal ‘better than expected’,

SAN FRANCISCO (MarketWatch) — SolarCity Corp.’s solar-panel factory in upstate New York could allow the solar installer to reduce its costs and save about $400 million a year, analysts at Credit Suisse estimate.

SolarCity SCTY, -0.66% and New York struck a deal earlier this week, with the state announcing a $750 million package to build the solar-panel factory near Buffalo.

That deal “was significantly better than expected,” the Credit Suisse analysts said Continue reading →

SolarCity in Buffalo: 1,000 megawatts capacity, 3,000 jobs

Three times as many millios of dollars invested as expected, 3,000 jobs, and New York Governor Andrew Cuomo says “they could have gone anywhere on the planet”. They could have come here. They went to snowy Buffalo.

David Robinson wrote for Buffalo News 23 September 2014, ‘Historic day for Buffalo,’ Zemsky says of SolarCity RiverBend plans,

SolarCity’s planned factory in South Buffalo — and the 3,000 jobs that come with it — packs a powerful economic punch.

To be built on the former Republic Steel plant site in South Buffalo, the factory is expected to bring more new jobs to the region than the steel maker ever had in its heyday.

With the ability to make enough solar panels to generate more than 1,000 megawatts of electricity, the factory would be Continue reading →

Solar panels in Stow, Massachusetts

In snowy Massachusetts you can finance a solar system with little money down and complete payoff in 11 years. Get the Georgia legislature to pass HB 874 and we’ll be able to do this in sunny Georgia, too.

Used with permission from howeowner Carl Howe. -jsq

People seem interested so I’ll share details of our solar installation in Stow, MA.

Full disclosure: I know the president of our solar installation firm socially (he’s a friend of a friend of ours), and like many solar installers, they do pay referral fees if others sign up based on a recommendation from an existing customer. Should anyone decide to do business with our installer, New England Clean Energy, please mention my name.

We used New England Clean Energy from Hudson MA. I believe that they are one of, if not the, highest quality installer in our area. They have more than 300+ installations in MA and NH. Of course, SolarCity and others are also in the region, Continue reading →

Privatize TVA? Southern Company would like that

The hydropower assets of the Tennessee Valley Authority would give Southern Company a way to avoid doing distributed solar for a while. Will SO CEO Tom Fanning and Georgia Power CEO Paul Bowers bit the bullet and go straight for distributed solar instead of helping Duke privatize TVA for a short-term stopgap that would set both of them farther behind the disruptive solar curve?

Blue line: SCTY; red line: SO, chart by Google Finance.
May 16th: Goldman Sachs invested $500 million in SCTY.
May 22nd: SO stockholder meeting.
May 24th: S&P downgrades SO.

Wes Patoka wrote for Motley Fool 24 May 2013, Who Benefits the Most if the TVA Is Privatized,

Continue reading →

SolarCity disrupting utilities in Massachusetts; how about Georgia?

Why is great big Southern Company afraid of tiny SolarCity? Look at these 2.6KW of solar panels on a house in Bedford, Massachusetts. Think about much more sun in Georgia, financed by Google and Goldman Sachs, turning into votes for solar power. Big coal and nuclear boondoggles already don’t look so attractive anymore to investors.

By Giles Parkinson wrote for Reneweconomy on 9 October 2012, SolarCity’s big challenge: Prove that energy bills can fall,

SolarCity sees the traditional utilities as their biggest competition. “We compete with them on price, predictability of price and the ease by which customers can switch to electricity generated by solar systems,” it says.

“We have disrupted the industry status quo by providing renewable energy directly to customers for less than they are currently paying for utility-generated energy. Unlike utilities, we sell energy with a predictable cost structure that does not rely on limited fossil fuels and is insulated from rising retail electricity prices. As retail prices for electricity increase and distributed solar energy costs decline, our market opportunity will grow exponentially.”

Bloomberg New Energy Finance analyst Anthony Kim said the SolarCity filing could be a “game-changing moment for the solar industry” because it shows “how plummeting component costs benefit a company operating on the downstream side of the solar business.”

That article was posted before SolarCity’s stock went public, and before Goldman Sachs invested half a billion dollars in SolarCity. Six months later, we know Southern Company and Georgia Power are paying attention, because both SO CEO Tom Fanning and Georgia Power CEO Paul Bowers said so at the Southern Company stockholder meeting.

-jsq

110 MW solar financing: SolarCity and Goldman Sachs

When Goldman Sachs gets in, you know there’s money in solar. They’re certainly not investing half a billion dollars for your health. Of course, if you’re in Georgia, you won’t be getting any of this 110 MW of SolarCity solar on your roof, because of that antique 1973 Territorial Electric Service Act that Georgia Power and Southern Company keep propping up. Maybe we should do something about that. -jsq

PR today, SolarCity and Goldman Sachs Create Largest U.S. Rooftop Solar Lease Financing Platform: Collaboration Expected to Fund more than $500 Million in Solar Projects, 110 Megawatts of Solar Capacity

SAN MATEO, Calif., and NEW YORK, May 16, 2013—SolarCity (Nasdaq: SCTY), a leading provider of clean energy, today announced a lease financing agreement with Goldman Sachs (NYSE: GS) to fund more than $500 million in solar power projects; an estimated 110 megawatts in generation capacity for homeowners and businesses.

The financing makes it possible for homeowners, businesses, government and other non-profit organizations to install solar panels with no upfront cost and pay less for clean electricity than they currently pay for utility bills. The agreement was initiated in 2012 and expanded per

Continue reading →

Solar cars and charging stations: who wouldn’t?

Tired of Southern Company CEO Fanning’s maybe “next decade” for solar power? Tired of Georgia Power’s Bowers trying to push solar off for fifty years? Let’s hear from somebody who takes on big tasks and gets them done: Elon Musk, who’s already built a rocket that is resupplying the International Space Station, and who is also building all-electric cars.

Carl Hoffman wrote for Smithsonian magazine December 2012, Elon Musk, the Rocket Man With a Sweet Ride

When he’s not launching rockets, Musk is disrupting the notoriously obdurate automobile industry (see National Treasure, p. 42). While industry giants like Chevrolet and Nissan and Toyota were dithering with electric-gasoline hybrids, this upstart kid said he would design and manufacture an all-electric car that would travel hundreds of miles on a single charge. The Tesla Roadster hit the streets in 2008 with a range of 200 miles, and the far more functional Model S, starting at $57,000, was introduced in June. It’s the world’s first all-electric car that does everything my old gasoline version does, only better. The high-end model travels 300 miles on a single charge, leaps from zero to 60 in 5.5 seconds, slows from 60 to a dead stop in 105 feet, can seat up to five, has room for mulch bags and golf clubs, handles like a race car and its battery comes with an eight-year, 100,000-mile warranty. If you charged it via solar panels, it would run off the sun. One hundred a week are being produced in a former Toyota factory in Fremont, California, and nearly 13,000 people have put deposits on them….

And since that story: Continue reading →

In Georgia, “competitive” is not for you!

Remember the Southern Company brags about “Our competitive generation business”. The important word there is “our”, as in the Southern Company and its subsidiary Georgia Power gets to compete, and you don’t. Unless you’re big enough.

According to the Georgia Public Service Commission:

Some retail competition has been present in Georgia since 1973 with the passage of the Georgia Territorial Electric Service Act. This Act enables customers with manufacturing or commercial loads of 900 kW or greater a one time choice in their electric supplier. It also provides eligible customers the opportunity to transfer from one electric supplier to another provided all parties agree.

This is apparently only one of twelve Georgia laws that impede a competitive solar power market. But this Territoriality Law alone might be enough of an impediment. Here’s a guide, and here’s the text of the Georgia Territorial Electric Service Act.

Because of that law, you can’t you put up solar panels on your own land and sell your power to somebody somewhere else. And you can’t get a company like SolarCity or Lower Rates for Customers to put up solar panels on your property and sell you the power ( or can you?). Unless you’re generating at least 900 KW; then maybe you can get selected businesses to switch to your power once. Except you probably still won’t qualify, because Continue reading →

Farm bill would reauthorize USDA REAP grants

Sen. Richard Lugar (R-Ind.) and Rep. Marlin Stutzman (R-Ind.) wrote for The Hill 5 March 2012, REFRESH Act: Strengthen rural communities and U.S. energy security

Reauthorize and reform the popular REAP program to demonstrate opportunities for economically viable energy investments and encourage loans rather than grants.

Rep. Sanford Bishop (D-Ga.) has long been working with local farmers and USDA to help with agriculture and rural jobs.

The Indiana Congress members continued:

Real commitment to rural growth requires that we put money where our mouth — or authorization — is. We offer basic mandatory funding that is more than paid for through cutting waste.
Renewable energy production creates jobs. Rural communities see potential for real economic growth in the emerging biofuel sector. Advances in technologies and agricultural techniques could offer economic benefits from coast to coast. Using the REFRESH Act as the basis for the next Farm Bill would help galvanize private investment in the sector, bringing jobs to a ready economy.

Indeed it can.

Obviously I like REAP grants, since we got one for Okra Paradise Farms. That 25% REAP grant plus an 35% ARRA NREL plus 35% GEFA credits will add up to 90% covered by grants and tax credits, which is a pretty good deal.

Now that remaining 10% is still a significant amount; like the price of a small car. But in 7-15 years (how long it will take to pay off this system, depending on how you figure it), what would the value of a car be? Much less than when you bought it. Meanwhile, these solar panels will be generating almost as much power as they are now, and they will continue to generate for at least a decade more, probably much more.

The big missing piece is up-front financing. Local banks will do it, but only for collateral. By which they mean real estate. Nope, they won’t take the solar equipment as collateral, even though it would still be operational many years from now.

Local banks or credit unions could see this as an opportunity and start accepting solar equipment as collateral. Beyond that, with a few changes to Georgia law, to deal with the power utility territoriality clause, and maybe to ban boondoggle charges for more dangerous and less job-producing power sources, we could get a commodity market in solar power in this state. You could put up solar panels like this, or more, on your house or business roof, and sell your excess power to somebody in Atlanta with less roof space. That would produce widely distributed energy, reducing need for foreign oil or dirty coal, lowering your electric bills, maybe even producing you a profit, and generating local jobs right here in south Georgia.

Private investment is ready to come in for utility-scale solar projects.

And companies like SolarCity that already do everything from financing to installation could do that in Georgia. Or home-grown companies could do that. Or local banks could finance while local companies installed.

Anyway, we have here on our workshop roof a proof of concept, operational right now, purchased partly via a USDA REAP grant.