“Americans overestimate the contribution of renewable energy in powering the U.S. and underestimate the role of coal, oil and natural gas now and in the future. In 2016, solar and wind together made up just 3% of U.S. energy consumption, while survey respondents put the figure at 20%. Furthermore, respondents predict that wind and solar will make up 34% of energy consumption in five years; however, the experts predict that they will be less than 5% of our energy consumption. Conversely, respondents perceived fossil fuels to be a much lower percentage of the energy mix than they are today and projected them to be even less in five years.”
What happens to an industry when the big names get hammered in the stock market? Everyone begins to worry.
SolarCity and Sunrun were once the market darlings but are now casualties of their own fame and the momentum of a larger downward trend in all markets, especial the oil industry. Cheap oil has reduced the urgency to switch to solar, at least in the consumers’mind.
But what about stocks? I though COP21 would have had a stronger affect on renewables. In 2014 I wrote about the solar trade war and how China would be left with glut of solar panels unless the Middle East and India stepped in the buy up the supply. It was surprising to hear Saudi Arabia ambitiously tout their renewable energy plans, even implying that they would reduce their reliance on oil. Well, now we see the fruits of those seeds. (Saudi Arabia was smart enough to put quite a bit of cash in its sovereign wealth fund (which was the third largest in the world) to reduce the impact of the economic shocks.)
And what about Neveda and Net-metering? The debate has grown increasingly hot in Hawaii and Nevada, leading me to believe that utilities have fround their golden nugget. Nevada is a bear market for solar. Could that wave spread to other states and jurisdictions? Forget Big Oil, beware of Big Utility.
I’ve sold solar stocks toward the end of 2015, and the remaining stocks I have are so devalued that it wouldn’t make a difference if I continued to hold them. They can only increase in value. And that’s the outlook for solar – it can only get better, but it might get worst before it does.
[Update on my attempt to contact Solar companies operating in Nevada: I did receive one call from a gentleman operating there, and I want to apologize for not calling him back. Talk to you soon.]
Buy, make, or eliminate – these are the three main ways that we have gone about meeting our electricity needs for the past century. But, according to a new report by the Rocky Mountain Institute, a rapidly growing fourth option is appearing across the country and offering a way for homeowners to decrease their monthly bills.Read the article here: Scientific America
Successful climate change mitigation will involve not only technological innovation, but also innovation in how we understand the societal and individual behaviors that shape the demand for energy services.
Prospective solar customers have had to endure delays and a lot of bureaucratic run around to install solar power, but municipalities are finally easing some of the back log. Do you have any stories about delays or rejections you’ve experienced trying to have your solar system installed?
Communication companies can teach the electric utilities a thing or two about attacking a declining customer base: separate entities for residential and commercial.
Note to come as I research this theory.
It depends. Solar Farms are usually developed by EPCs ( Solar Engineering, Procurement, and Construction companies), their efforts to turn actual farm land into renewable land is stymied by the community. Plans to develop PV farms can fall faster than a wind farm’s. Neighboring home owners worry the value of their homes will drop. As for Community Solar Garden, they’re all the rage, now. They’re usually developed by the locally establish utility to meet there renewable energy mandates. They also allow their customer to feel warm and fuzzy about solar with shelling out cash and worrying about the installation or the possibility of selling a PV laden home.
How much cheaper will your bill be if you’re getting your solar power from the local utility? (In some cases, a credit of $2.00) And, aren’t we just prolonging the inevitability of widespread rooftop solar?
What is the marketing budget of the US Solar industry? What’s the medium breakdown? How are installers getting their jobs, consumer referral, word of mouth, signage, contractor referral service, door to door? How much has come from that special 800 number you’ve purchased just for television commercial viewers?
What was I doing today? Seeing how many times this article from the New York Times got reposted, to what type of sites, and those sites that represented solar – are they blogs with contributors or just posting boards. And how, if I wanted to, could I contact them for article submission.
It’s always a great thing when Solar Power makes it to the New York Times, which it does often. If you set up a News Alert for solar you’ll get the articles. If you get a chance, read the article.