Insights Newsletter #9
The solar industry is growing - catch up on solar energy news, market trends, policies, and more.
Happy Friday!
Welcome to the latest edition of the Solar Business Insights bi-weekly newsletter! We’re happy you’re here.
Stay up to date on the latest solar market trends, technology, policy updates, strategies, and more. We research each topic and gain insights from solar professionals. Our goal is to provide everything you need to know about solar business, all in one place.
Each newsletter starts with a question with answers from the solar business community.
Question of the week:
Q: What is the best way to prevent permit poaching?
A: Ensure your customers are educated about the process and maintain transparency regarding points of contact. Clear communication helps set the expectations and a smoother customer experience.
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Solar Energy News
Leading solar company SunPower covers the news section this week with recent updates and announcements.
First off, SunPower and Maxeon agreed to end their exclusive relationship in the United States. This means SunPower dealers have access to solar panels outside of the Maxeon portfolio, allowing for increased competition and diversified product offerings. While the two companies officially separated in 2020, the new agreement ends the partnership after March 31, 2024.
Additionally, SunPower announced plans to install a 2,649-panel system at Poppy Grove in Elk Grove, California, creating the largest affordable housing community in the nation to rely on renewable energy. This project aligns with SunPower’s goal to make solar more accessible to all income levels. Here are a few details:
The system totals over a megawatt of solar energy, enough to offset 80% of residents' energy usage.
Could save residents up to $1,000 on utility bills each year.
The project is in collaboration with UrbanCore Development and E.Smith & Company.
Market Trends
Rhodium Group and MIT’s Center for Energy and Environmental Policy Research released its latest Clean Investment Monitor report (CIM). The report tracks climate-related technology investments, the effects of federal and state policies, and the country’s progress towards net-zero emissions.
Key findings from the CIM report:
The IRA incentives successfully attracted disadvantaged and low-income communities to clean energy investments.
In the first year following the IRA, 40.5% of clean investment was directed towards low-income communities, higher than the national population share (38.5%).
What does this mean for solar business?
The IRA incentives provide solar businesses with expanded opportunities to engage in solar projects within low-income and disadvantaged communities.
Consider diversifying your investment portfolio to include various community types including, energy communities, disadvantaged, and low-income neighborhoods.
Solar Innovation
Soltec introduced SFOne USA, the latest solar tracking technology in the US.
What is solar tracking?
The technology orients solar panels to follow the sun’s movement across the sky to maximize energy production.
What’s new with SFOne USA?
The solar innovation features a vertically aligned dual-row design to increase solar energy generation while minimizing the cost of installation and maintenance. SFOne is built for a variety of terrains, including slopes and irregular grounds. The tracker uses a wireless communication system to withstand extreme weather conditions and software to minimize shading losses.
Regulatory Policy & Incentive Updates
Controversy in California: The CPUC voted on November 16, 2023, to approve changes to the Virtual Net Metering (VNEM) and Net Energy Metering Aggregation (NEMA) programs. The changes reportedly reduce the affordability of solar energy for properties with multiple electric meters, like schools, farms, apartments, and small businesses.
These properties can no longer use solar energy to offset utility bills and must sell generated energy to the utility company. The exchange rate is lower than the retail rate, meaning the approved changes reduce the financial benefits of solar for these property types.
The California Solar & Storage Association (CALSSA) criticizes the decision claiming it undermines the growth of solar, harms consumers, and does not align with the state’s clean energy goals. The changes in the program may lead to decreased motivation for building owners to invest in solar installations and impact the overall adoption of solar energy.
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Upcoming Events & Conferences
Dec 5 - 6: Microgrid Global Innovation Forum
Location: Chicago, IL
Dec 5 - 7: Southeast Renewable Energy Summit
Location: Charlotte, NC
Have a fantastic weekend!
- Solar Business Insights Team
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