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Innovative and Resilient: Global Clean Energy Economy is Unstoppable

This post was co-authored by Jon Powers and Zoe Berkery.

Good news! Despite a range of uncertainties in 2017 and the beginning part of 2018, clean energy remains a strong economic driver with untapped investment opportunity. Clean energy investments are high, the private sector continues to be a driving force, and corporations are demanding clean energy at unprecedented levels.

There are a lot ways to look back at 2017 when it comes to clean energy and the economy. There were many uncertainties facing the industry in 2017 that challenged the clean energy markets in new and unforeseen ways, however a recent report from the Business Council for Sustainable Energy (BCSE) and Bloomberg New Energy Finance (BNEF), the Sustainable Energy in America Factbook demonstrates how innovative and resilient the global and domestic clean energy market remains.

As pointed out by a recent Wall Street Journal article, action by the Trump Administration like “tariffs may slow the rate of solar expansion, local and state policies requiring utilities to procure renewable energy will continue to help create a baseline market for solar power”

Clean Energy is an Investment Opportunity

Clean energy is maturing as an asset class ripe for investment. With 18.4 GW of global clean energy deployed in 2017, it’s not a surprise that more and more institutional investors continue to be drawn to these stable, long term cash flows. As a result, global clean energy investment rebounded in 2017 to the second-highest amount on record. In total $333 billion was invested in the sector in 2017, second only to the $360 billion spent in 2015.

Private Sector and Localities Back Clean Energy

The federal government may have backtracked from national and international engagement on climate change issues in 2017, but the private sector companies showed a united front regarding their commitment to address climate change.

After the President indicated the U.S. would withdraw from the Paris Treaty, the “We Are Still In” movement responded with 2,642 mayors, governors, CEOs, college presidents, faith organizations, tribal leaders, and other small businesses (including CleanCapital) with renewed commitments to address climate change and reduce emissions. Similar initiatives like the U.S. Climate Alliance, includes 16 governors representing over 40% of the U.S. population and $7.4 trillion in economic output.

Federal-level actions posed a number of threats to the clean energy economy beyond Paris,  from trade cases to tax reform, the market was rife with uncertainty. Despite these policy uncertainties, the clean energy market expanded rapidly in 2017, demonstrating the industry’s resiliency. For example, according to the BCSE Factbook, wind and solar capacity in the US has increased more than 471% since 2008 (from 25 GW to 143 GW). Renewable generation soared 14% in 2017, adding 18.4 GW of capacity, now accounting for 18% of total U.S. generation—double the contribution a decade ago.

US Electricity Generation by Fuel Type

Corporations Demand Clean Energy

The Factbook also highlights that corporations continue to play an increasingly powerful role in the global energy transformation, demanding cleaner energy and seeking to capture savings from energy efficiency efforts. In the US, off-site corporate clean energy contracts rose to 2.9 GW in 2017, second only to the surge seen in 2015. Some of the world’s largest corporations now have ambitious clean energy goals, including Google, Apple and Facebook which continue to contract more clean energy. Kimberly-Clark, T-Mobile, General Mills and Cummins all signed their first clean energy contracts in 2017.

Renewable Capacity Contracts by Corporations
Source: 2018 Sustainable Energy in America Factbook

In addition, renewables increasingly just make better economic sense. New solar PV plants can now undercut new coal builds on a levelized cost of energy (LCOE) basis in the U.S.  LCOE measures the lifetime cost over the lifetime energy production of a system, plant or technology in order to more fairly compare costs of various types of energy technologies. In other words,  LCOE is a summary measure of the overall competitiveness of different generating technologies.

LCOE is a summary measure of the overall competitiveness of different generating technologies
Source: 2018 Sustainable Energy in America Factbook

The bottom line is clean energy is here to stay and will continue to grow. These reports show that it is no longer an alternative energy, but a mainstream source of power. Now more than ever before it is going to be incumbent upon innovators to overcome the new challenges imposed by the federal government. CleanCapital is working to be a key player in this global clean energy transformation to more efficiently originate and invest in the clean energy infrastructure that is so critical to the future of the global economy.

See the whole 2018 Sustainable Energy Factbook here.

Future remains bright for solar despite the Trump tariff

Despite the Trump Administration’s assertion that it will benefit the solar industry, the decision to impose a tariff on solar panels will have the opposite effect. While attempting to prop up a handful of American manufacturing jobs that may never materialize, many more jobs installing solar systems are at risk as the pace of installations will slow. Some estimate as many as 23,000 jobs could be lost. But the solar industry has proven resilient through bigger threats, and the global demand for clean energy will eclipse this decision.

The remedy imposed by the Administration will have a few immediate impacts on the industry. The decision will increase estimated solar costs by 10 to 12 cents per watt, based on current U.S. import prices of 35 to 40 cents per watt, according to analysis done by GTM Research. This could add up to 10% to the total cost of a solar project making some projects uneconomical, leaving installers out of work and slowing carbon-cutting clean energy deployment.

To learn more about the facts behind the case, check out the CleanCapital Resource page, but here are some quick items:

But nothing can stop solar. Installation costs have fallen substantially in the past decade, making solar the most cost effective energy option in many states and countries. Following Swanson’s Law, solar costs will continue to fall over time despite this temporary setback. This will result in cleaner, cheaper electricity reaching more people over the next decade.

Even as the cloud of the trade case loomed, U.S. investments in solar remained strong through 2017. A recent report from Bloomberg New Energy Finance (BNEF), found global investment in clean energy such as wind and solar reached about $333.5 billion in 2017, a 3% rise from the prior year, and just 7% below the record in 2015. This growth is attributed to technological advancements and declining hardware costs.

Further, solar panels account for a decreasing percentage of a project’s capital costs. The near-term cost increase imposed by the new tariffs can be mitigated by a reduction in soft costs. Soft costs, costs outside of the manufacturing and installation of solar panels, account for 64% of the overall costs of going solar.

Image courtesy U.S. Department of Energy

Also, increasing capital markets participation and liquidity will bring more efficiency. At CleanCapital, we offer project owners the opportunity to exit their portfolios to free up capital.
By bringing liquidity to this historically illiquid market, we are supporting project owners faced with immediate capital needs. Increasing the flow of capital across the clean energy marketplace remains a long-term necessity for the industry’s success.

While the tariff will hurt the solar workforce, we must keep in mind that the tailwinds are forcefully behind solar energy. Costs will continue to go down, innovation will push new bounds, and the demand for a clean energy future will grow. The future is bright.

Learn more about how we can provide liquidity for your projects.

Episode 14: Tom Matzzie

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Episode 14: Tom Matzzie

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This week we sit down with Tom Matzzie, CEO and President of CleanChoice Energy. This conversation discusses wholesale energy markets. Tom breaks down how the complex markets work and how CleanChoice is making it faster and easier to participate in the space. Listen to learn about how technology and innovation are simplifying and driving broader adoption of clean energy through wholesale energy markets.

Tom Matzzie is a strategist on politics, the media, and technology. Previously, he was Washington Director of MoveOn.org Political Action where he led U.S. campaigns to end the war in Iraq. He has been a strategist at the intersection of politics, the media, and technology for more than 10 years.
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Listen now

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Transcript

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Voiceover:

Welcome to the Experts Only Podcast, sponsored by Clean Capital, where we explore the intersection of energy, innovation and finance. Our host is Clean Capital’s Co-founder and former Federal Chief Sustainability Officer, John Powers. Learn how clean Capital is revolutionizing clean energy finance, and find more episodes at cleancapital.com, iTunes or wherever you get your podcasts. If you like what you hear, be sure to subscribe and leave us a five star review.

Jon Powers:

Welcome back to Clean Capital’s Experts Only Podcast. We’re joined today by Tom Matzzie, the President and CEO of Clean Choice Energy. We’re going to explore the wholesale markets with Tom. I’ve known Tom for over 10 years. He’s done an amazing job explaining the markets for folks. And if you aren’t as familiar with them as many of us, including myself should be, you learn a lot from the way he breaks it down. But we’re also going to talk about his transition from political advocacy, into clean energy and how, at Clean Choice, he’s helping make the experience for customers to move into clean energy, that much easier.

Jon Powers:

Tom, thank you so much for joining us on Experts Only Podcast. I want to talk a little bit about your personal history and our personal history. You and I’ve met over 10 years ago. It was one of my first visits actually, to Capitol Hill and we went to visit at that time, Senator Barack Obama. And we were going in to talk about what was happening in the war in Iraq. At that time, you were the Washington director of moveon.org. Talk a little bit about what got you into politics.

Tom Matzzie:

Sure. Thanks, John. It’s great to be on your podcast and it’s been great to know you over those 10 years, see the fantastic work you’ve been doing. I had always been attracted to politics. I grew up in Pittsburgh, and I think my story can’t be disconnected from growing up in Pittsburgh. It’s a town that has a working class culture associated with it as well. Even among the white collar professionals, there’s a working class sensibility. And with that comes a sense-

Jon Powers:

By the way, being from Buffalo, I completely understand that, 100%.

Tom Matzzie:

Yeah, exactly. Right. My father was a civil engineer. He was not blue collar, but he had the blue collar sensibilities, since he grew up in a steel mill town and all his buddies in high school, many of them were in blue collar jobs, et cetera. So that sensibility included a sense and understanding that politics was important and central to people’s lives. That politics could impact their livelihood, impact their healthcare, impact whether there were jobs, whether there’s economic growth. So I grew up around that. And with that understanding. I went to the University of Notre Dame. I studied economics and international peace studies, had great experience there and was always active and engaged outside of the classroom, I was restless and I always wanted to be doing something outside the classroom. And I moved to Washington DC in 1997 and started getting involved in different nonprofit advocacy groups and organizations right out of the gate.

Tom Matzzie:

In fact, that’s why I first met a couple of now rising political leaders, Tom Perriello, who was a member of Congress and ran for governor of Virginia was a friend of mine as early as ’97, when we were both doing different things in politics. And other people like Hans Reimer, who’s now the president of the Montgomery County Council in Maryland, and many others. And so, I’d always had that interest and I’d started to get involved. And then, what also happened at the same time is, I was very fluent in how to use the internet and technology in advocacy and in making change. And that gave me an opportunity to rise into leadership roles very early in my career, because it was the rise of the internet at the time.

Jon Powers:

Of course. Yeah.

Tom Matzzie:

And then suddenly, you could raise a budget to run a campaign while they let you spend it.

Jon Powers:

Right. And completely changing the dynamic, by the way, of how advocacy is being done.

Tom Matzzie:

I think so. And I think it’s led everything from the rise of the opposition to the Bush Administration’s excesses, to the election of President Obama, to the Arab Spring. And we’ve even probably seen a little bit of the boomerang on the negative effects of social media, now that we’re in this era of fake news and the ability to influence the public through dis intermediation and when that could be used by dishonest people.

Jon Powers:

Right. Like foreign nations that are impacting our elections. Yeah.

Tom Matzzie:

Yeah. So I’d always been involved and the first time we met it was… You were recently back from Iraq. I think you were six months or 12 months, within 12 months, I think you were back. And there’s a group organized through VoteVets, of veterans, mostly officers who had recently returned. And I recall very distinctly you were wearing your combat boots with a very neat suit and tie, that it made a distinct impression on me in those meetings. And I think it did on Senator Obama then as well.

Jon Powers:

Yeah. I grew up sort of similar backgrounds, but I had actually never gotten involved in politics in my life. And when I came back from the war, I was just so frustrated that the lack of leadership and what had sent us over to Iraq without a plan and so many different elements, I wanted to get into it. That the venue that you all gave me, and of course VoteVets, was life changing for me because I began to understand the bigger pieces at work and how to get involved in them. It’s what led me down politics is what led me down clean energy as well.

Tom Matzzie:

Well, we’re happy you’re in leadership.

Jon Powers:

Yeah. Thank you. So how did you make that shift then, from the political piece? I think that you really weaved the technology story in there well, because it was a critical part of what was happening at the time. And it’s what really drove the ’08 elections and OFA and these really exciting things. And shifting that from focusing it on helping to get folks elected and helping to move issues forward, to now helping to drive clean energy. What drove that shift for you?

Tom Matzzie:

Yeah. There were a couple different personal parts of the story for me. And some of it more just changing interests. After president Obama was elected, I had been involved in running massive campaigns through the second term of the Bush Administration, to elect the Democrats in the House and the Senate in 2006. And then, create a wave that someone like President Obama could ride that wave. It was a lot. And so, I decided to take a step back. I wasn’t the person who would send into government. I was the person that would just go break down walls.

Tom Matzzie:

And so, once the walls have been broken down, there were other people like yourself, who were more suited for 7:00 AM meetings in the White House. And I went into business, and I had a consulting business that was successful, but I was restless. I always had the itch to build something and not just be on conference calls, collecting consulting fees. So with that, I was looking for something to do. At the same time, there are other things going on in my life. One was, my father actually passed in 2010, from a form of cancer that was closely connected to the pollution in Western Pennsylvania that he grew up around.

Jon Powers:

I’m sorry to hear that.

Tom Matzzie:

Yeah. And there had been stories that he had told me and passed on to me when I was a kid about the pollution of his town, Ambridge, Pennsylvania, that he grew up in. Ambridge stood for the American Bridge Company. It was a steel mill town, and the stories were of the pollution that they would sweep off their front steps every morning from coal plants before they had any filters on them and had any soot regulations and other types of clean air rules. And the same form of cancer affected other members of his family, other members of his neighborhood, his community. So I had a sense of trying to wanting to do something that was about replacing dirty energy with clean energy. That was part of it. But I also had an interest in building something. And then, I went through the experience of putting solar on my own home in Washington DC.

Tom Matzzie:

And I describe that experience as awesome, but very difficult. I was extremely motivated to put solar on my home for all the personal reasons. Also, I think I’d have to say for my motivations, they were environmental, but also very technology oriented is, solar’s the future. I wanted to be part of the future. I wanted the iPhone. I didn’t want the rotary dial phone, but I described it as awesome and difficult. The company that did the installation, Bastrom Solar, did a fantastic job. They executed brilliantly and perfectly. It still took 11 months to complete the project. You had to fight the utility to get the meter completed. It was just a difficult process. And all of my instincts from politics where we were using technology to scale something, the core lesson from that experience was, you had to make the experience very, very easy for the participant.

Tom Matzzie:

And if you could make it very easy, you could get more scaling, and scaling could drive the success. And so from that insight that, if you could make it easier, more people would participate. We started looking for business models on my own, and then joined up with some other people. But the first business model with our company is retail electricity. And so, this is a choice where people have in 14 us states to… Which is 40% of all us electricity consumption, to choose their electricity provider. So it’s non Virginia, unfortunately, but it is in DC and Maryland and through the Northeast and parts of the Midwest and in Texas. And we’ve been scaling that business since 2013.

Jon Powers:

And that started as Ethical Electric right now and then moved to-

Tom Matzzie:

Yeah, our first name was Ethical Electric, which was the name I put on the PowerPoint when I pitched my first investor. Eventually I hired a chief marketing officer who said, “We’re going to test everything, Tom, including the name.” And so, because electricity’s an intangible product, you can’t touch it, taste it, feel it, hold it. We decided we needed a very descriptive company name that said basically, what our product is.

Jon Powers:

Yeah, no, I love it.

Tom Matzzie:

Yeah. That’s Clean Choice Energy today.

Jon Powers:

And so through that process, you guys are working in… First of all, great description of what Clean Choice is doing. You are empowering utility customers across the country. You’re helping them cut emissions, support clean energy through 100% retail renewable energy choices, community solar. Going back to what you said earlier, you’re making it easy for them to participate. I think, as folks that are in the industry with a passion to do this, wrestling with the multiple steps to get solar on your roof could be an incredible headache and most people would walk away from that. So how does Clean Choice make it easy for them? What are you doing to attract those customers in?

Tom Matzzie:

Right. For any entrepreneur or any business, there are essentially three value propositions. You could offer a customer better, faster or cheaper. All right. Those are the three. Rooftop solar is better and cheaper, but it’s not faster. In some ways maybe, it’s not better since it’s hard, but our product is better and faster, because it’s renewable energy and it just takes a minute to sign up for it. You just fill out a web form to enroll. It’s not cheaper right now. That’s one of the final hurdles we need to get over as a business for our core retail energy business. Although our community solar product is our first foray into a product that will be price competitive… Lower prices than a utility rate. Although I would note, all of our prices today are cheaper than what utilities we’re selling for, four years ago.

Tom Matzzie:

So even in our core product. It’s just that the utility rates have declined over the course of our business. So what we do when a customer signs up is, for the retail energy product, it’s a renewable energy. We’re licensed by the states. We’re a member of the wholesale energy markets and we go buy wholesale renewable energy, which includes both a financial swap, as well as a renewable energy credit, in order to then deliver the renewable energy to the customer, through their utility. And we’re a member of the wholesale power markets, the PJM and New York ISO and ISO New England and MISO. And we transact there with the suppliers, as well as with ultimately the customer’s utility. So we provide the energy to the customer’s utility via the ISO.

Jon Powers:

So if I’m a customer in Washington DC, and I sign up, you basically take the demand that my monthly household demand’s going to be, go into the market, buy it as renewables and then provide it to Pepco, who is really transmitting it into my house.

Tom Matzzie:

That’s 100% right. Of course, the electricity is fungible. And that’s the case for lots of other products. Water’s fungible. There’s a whole market for contracting for fungible products, whether it be electricity or water, other types of commodities, liquid fuels, et cetera are transacted in similar ways.

Jon Powers:

Absolutely. And so, from a structural perspective, you’ve got customer service teams reaching out, engaging and finding more customers. And then you have an entire purchasing shop that’s on the market, buying these things?

Tom Matzzie:

Yeah. So if you look at our business, marketing is a big part of it to aggregate consumers together. Operations, which is the customer experience from lead to cash. Then the other components include data and technology, which is very important to what we do, as well as the finance and procurement. And the procurement we are… You might call it trading. So we have trading relationships with wholesale energy suppliers, generators, and investment banks who provide financial derivatives. And that’s that procurement, it’s actually the least exciting and interesting part of our business. It doesn’t move very fast and that’s good. We’re not speculators. We’re buying, we’re transacting for our customers. There’s a part of the business that’s entering the wholesale power markets and transacting for the product for our customers.

Jon Powers:

And when you look across your portfolio, what you’re buying, it looks like a lot of it derives from wind today versus solar. Is that just because wind’s cheaper in the market?

Tom Matzzie:

That’s right. Wind is less expensive and actually more liquid. There’s more availability for wholesale supplied wind right now, in the markets that we operate in.

Jon Powers:

Outstanding. So talk a little bit about, you’re working in a variety of states and obviously from a regulatory perspective, they’re almost their own individual countries when it comes down to it.

Tom Matzzie:

Yeah.

Jon Powers:

How do you manage all of that regulatory differences from a team perspective? And then also, talk a little bit about your relationship with the utilities, because it’s got to be pretty important here.

Tom Matzzie:

Yeah. The relationship with the utilities just to touch on that, is a regulated one. So once we are licensed by the states, we were able to enter into what’s called a supplier agreement with the distribution utility, Pepco, ConEd, ComEd, et cetera. And they’re essentially required to do business with us as long as we are meeting our obligations under our license and the supplier agreement. And those obligations include, scheduling how much power our customers are going to use at the ISO, as well as credit, credibility, administrative, et cetera. It is regulatory complex. We have a large team, it’s 60 people just running the business. There’s another 20 doing our contact center. We have in-house regulatory council. We have law firms in every state. We regularly go and meet with state utility commissions on the staff side, sometimes the commissioners.

Tom Matzzie:

And we definitely have to keep track of all the obligations we have. The good news is, you can set up the business as a platform. So you write your customer contract, it’s in compliance with all of the requirements for each state and you have to monitor whether or not there are changes in those requirements, but by and large, it changes not frequently, once a year, something like that. And then, your other compliance or obligations are typically on the consumer protection side. Just don’t make false claims, make sure you have a validation of your contract with your customer, whether it’s a wet signature or a recorded phone call or some other internet signature or something like that. And you set up your business as a platform, you use business process automation to make it scalable. And it’s definitely achievable.

Jon Powers:

Are you finding once you get a customer, they’re pretty sticky?

Tom Matzzie:

I think there’s varying amounts of stickiness. Churn is part of our business. And it’s because the ability of the customer to leave us is a feature of the product, right?

Jon Powers:

Right.

Tom Matzzie:

And that’s important, I think to keep in mind is that customers want flexibility, and not just because they might leave. They might see an offer from a competitor. So we have to earn their business every day.

Jon Powers:

Oh, that’s interesting. So I always assumed it was much like when you sign up your electricity bill, and people sign up and forget, but there is a lot of competition in that space.

Tom Matzzie:

There’s competition, less green competition, but it’s just a feature of the product that the customer can leave. And I’ve talked about how our product is more expensive right now than a utility rate. That’s one of the final hurdles we need to overcome, that will materially improve churn. And community solar is one way to do that. And there could be future business models in an environment where there’s a carbon tax or something else, where our product becomes less expensive.

Jon Powers:

Yeah. I want to come back to that point specifically, because I want to talk a little bit about Secretary Perry and the FERC efforts that are going on. But before we leave, just Clean Choice overall, talk a little bit about, you guys had a recent announcement of launching an energy lab in New York City. What do you hope to accomplish with that?

Tom Matzzie:

A big part of what we do as a business is, use technology to make the customer experience better and to help us find the customers who are most interested in renewable energy. So we are using machine learning, artificial intelligence modeling, to predict which customers are most interested in renewable energy, and likelihood to stay around as our customer, all sorts of things like that. And so Clean Choice Energy Labs, which is open in New York City, and it also exists in our headquarters in Washington DC as well, is one of the places that we invest in the business to create the customer experience through technology and the data methods that we need, in order to be successful in our business. And we decided to really give it a little recognition with the branding and labeling, for the team led by our Chief Technology Officer, Daniel Murray, who came to us from the data operation of the Obama campaign, 2012. And he leads that part of our business, includes our platform for community solar that we’re developing in order to make it better customer experience for community solar customers, as well as what we’re doing today.

Jon Powers:

No, that’s really interesting. It’s a great way to drive innovation within a growing company. It’s exciting.

Tom Matzzie:

Yeah.

Jon Powers:

So going back to what we were talking about on pricing. And I think there’s a significant push by the Trump Administration, through Secretary Perry, to really bail out the coal industry here and specifically the pursuing a FERC ruling to financially allow power produced by coal plants, to charge a premium, allowing them to stay afloat. Provide some thoughts on this and where do you see it going? And what should the industry be doing to push back?

Tom Matzzie:

Yeah. So the wholesale electricity markets, in those markets today, there are a variety of different commodities that are procured and sold. It’s not just energy, actually. You would naturally assume you go to the whole energy market to buy energy. But the three core commodities that are procured in those markets are energy, which is what it sounds like. Capacity, which is the ability to have a lot of energy when you need it. And then flexibility, which is the ability to very quickly modulate how much energy is being consumed or generated very quickly. The out of whole cloth, the Trump Administration, it would appear to be at the urging of the CEO of a coal company have created some fictional, other need, which they’re terming resiliency, which is a 90 days of fuel on site that a power plant that can hold 90 days of fuel on site should be compensated for its ability to do it.

Tom Matzzie:

It’s a very wasteful use of resources. It’s the energy market equivalent of prepping, where you’re keeping hoards of food and water in your basement. And it’s an absurdity, because you think there should be no… The supply chain disruption that would be needed to not be able to deliver fuel to power plants for 90 days, would mean that there would be something so dramatic has happened in our country, that we would have much larger problems than whether or not the power plant has enough fuel for the next 90 days. And the reality is that, most resiliency risks in the energy market have nothing to do with the ability of power plants to turn on or off and whether they have fuel. We have lots and lots of power plants, way more power plants than we even need in the energy markets today.

Tom Matzzie:

The disruptions to resiliency and reliability for consumers come from power lines falling.

Jon Powers:

Exactly.

Tom Matzzie:

Everyone knows this. You get the blizzard, the tree loads up with snow, the tree falls, it knocks down the power line, the lights go out. That’s the story. That’s the total story of the real resiliency risk that most people face every day. There are certain places where they have transmission constraints. They don’t have enough power lines or you have additional reliability issues, but by and large, the threat to resiliency and reliability is driven by transmission distribution, line disruptions and not by power lines. And so what’s this all about? Look, it’s best I can tell, it’s about two or three companies who have close ties to the Trump Administration and are in danger of bankruptcy. And they are trying to get these bailouts to save their companies for what, maybe another nine months, other 12 months?

Tom Matzzie:

They want to disrupt the energy market design that has been very successful in lowering costs. I think this is one piece that people don’t appreciate is that, consumers and businesses have benefited from competitive power markets that have materially lowered costs for consumers over the last few decades. And this is be a massive disruption to that. We would be paying people who own power plants to just own the power plant, not to do anything that’s useful or generate electricity or something like that.

Jon Powers:

Yeah. The irony from one, not even to talk about the free market position a lot of these folks have started with now, they’re shifting over, but to look at when they talk about resiliency overall, it’s completely opposite of the way the military’s approaching it. It’s completely opposite of the way data center companies like Google and eBay and Amazon are approaching it. They’re looking at distributed onsite energy. As you said, it’s a complete handover to a handful of folks that… There’s obviously ways to slow role and rules and there’s going to be lawsuits around it. But if you could give advice to companies out there to get involved, what would you tell them?

Tom Matzzie:

Well, the first process is somewhat opaque in the end. It’s hard to know what the commissioners will-

Jon Powers:

Right, but it’s supposed to be independent too.

Tom Matzzie:

It’s supposed to be independent. I would say, we have some very good commissioners, even some of the Trump appointees. I think the former chairman who’s the interim chairman, Neil Chatterjee, Commissioner Chattergee has not shown himself to be a big supporter of competitive electricity markets. He seems to be more on the socialism end of energy markets and looking to give out corporate bailouts to power plate owners. And that’s been very disappointing to see. We have other commissioners, like commissioner Paulson, who was the former chair of the Pennsylvania Public Utility Commission. The Pennsylvania Commission was a very professionalized commission that was very straight shooter, would just put together regulations and to protect consumers and to do the right thing for the state. I don’t think he wants to disrupt competitive electricity markets. I think he’s a believer in the competitive electricity markets. We’ll see what Chairman McIntyre, who is the newest commissioner, what his perspective will be. It’s unclear so far, but I don’t think that there’s the other commissioners other than Chatterjee, are somehow coal idealogs. I think they believe in competitive power markets, and we’ll hopefully see that prove out.

Jon Powers:

Great feedback. Thank you.

Tom Matzzie:

Companies should get involved however they can. You should make a filing effort. I think the most important people that should be getting involved, are consumers. So if you own a big business, if you own data centers, if you own a steel mill, any sort of manufacturing at all, you are highly sensitive to electricity prices. And the Trump, Perry, Department of Energy Proposal to the FERC would increase power bills for consumers, but by more than $10 billion by some estimates. And that’s bad for US manufacturing, that people will be put out of work by that. It’s a real issue that needs to be taken seriously, the risks to American manufacturing from this terrible proposal to Federal Energy Regulatory Commission.

Jon Powers:

So Tom, to end on a lighter note, going back to yourself and Pittsburgh, when you’re coming out of high school or going back when you were graduating from Notre Dame, if you could sit down and have coffee or beer with yourself, what piece of advice would you give the younger version of you?

Tom Matzzie:

Oh wow. I had an opportunity to be a very early employee in broadcast.com, which Mark Cuban sold for a couple billion dollars. I turned that down. I don’t have any kind of business or political advice I would’ve given myself. I think I’ve made good choices in those regards, typically. I think the biggest lessons I’ve learned as I’ve got a little more gray in my beard now, I’ve starting to get a little gray in my beard, is really the value of relationships and friendships and just investing in those. So if you’re a young person today, those friendships and relationships you’re building are just going to be invaluable. Like us, John, we’ve known each other for 10 years.

Jon Powers:

It’s true.

Tom Matzzie:

And I think, you don’t always appreciate that until you’re a little older, how important and how much happiness they can bring you, to have those relationships.

Jon Powers:

That’s absolutely right. Well, Tom, thank you so much. And thanks so much for taking the time to join us today.

Tom Matzzie:

Yeah. Thank you. And congrats on all the success of your business.

Jon Powers:

Thank you.

Tom Matzzie:

Take care.

Jon Powers:

Well, thanks again to Tom, for joining us. What a fascinating conversation. You can go to cleanchoiceenergy.com to learn more about the work they’re doing. And always visit us at cleancapital.com. Give us your feedback on how we can improve this podcast. I’d like to thank our producers, Emily Conner, and Lauren Glickman, for their hard work as always. And thank you for listening and look forward to continuing the conversations.
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Episode 13: Adam Browning

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Episode 13: Adam Browning

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On this podcast, host Jon Powers sits down with Adam Browning, Executive Director of Vote Solar. We explore Vote Solar’s unique role in the marketplace. This conversation is especially timely given the political climate surrounding renewables at the federal level, pending tax reform, and the tariff case before the International Trade Commission.

Adam leads Vote Solar’s team of advocates, experts and staff working to boost solar across the U.S. Adam co-founded the organization in 2002 after he worked on a successful local solar ballot initiative. Prior to Vote Solar, Adam spent eight years with the Environmental Protection Agency where he ran an award-winning pollution prevention program. Adam grew up in Miami and served with the Peace Corps in Guinea-Bissau and West Africa-experiences that taught him about the power of the sun.
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Listen now

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Transcript

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Voiceover:

Welcome to the Experts Only podcast, sponsored by CleanCapital, where we explore the intersection of energy, innovation, and finance. Our host is CleanCapital’s co-founder and former federal chief sustainability officer, Jon Powers. Learn how CleanCapital is revolutionizing clean energy finance, and find more episodes at cleancapital.com, iTunes, or wherever you get your podcasts. If you like what you hear, be sure to subscribe and leave us a five-star review.

Jon Powers:

Welcome to CleanCapital’s Experts Only podcast. I’m your host, Jon Powers. We’ve got a great interview today with Vote Solar’s Adam Browning. Adam spent over 15 years leading Vote Solar, earning him the title across the industry as the Michael Jordan of solar policy. You’re in for a really interesting conversation as we explore not only what Vote Solar’s role is in terms of the solar marketplace, but where these fights are today.

Jon Powers:

We’re seeing so much happening at the federal level on pushback around the solar trade case, or Secretary Perry’s space. The real fight that many of us should be focused on is what’s happening at the state level, whether it be net metering in Nevada, fights in Florida, new policies in Pennsylvania and Illinois, stuff that we need to be tracking to move into the next market. Adam and I will be talking a lot about that.

Jon Powers:

I think if there’s any takeaway that I learned from him, it’s important for the states that are leading today just to get bolder and to hit on the targets that they’re achieving. I mean, California’s just announced recently they’re going to hit their targets early. It’s because of the advocacy at those levels. So I think you’ll learn a lot from this conversation. Let’s get started. Adam, thank you so much for joining us on Experts Only podcast.

Adam Browning:

Oh, I am excited to be here. Thanks for having me.

Jon Powers:

Yeah, of course. I want to start talking a little bit about your personal story in the space. You’ve had such a diverse background. Growing up in Miami. Joining the Peace Corps. Even spend some time in a federal agency. Tell me a little bit about your journey. First of all, how’d you end up joining the Peace Corps?

Adam Browning:

Ah, that’s an easy one. Going through college, I never had a real exact plan for what the next steps were. The idea of spending a bunch of time living in a simpler place and time, in the middle of nowhere, Africa, just seemed like the funnest, most exciting thing that anyone could ever want to do. It turns out I was right.

Jon Powers:

That’s great. What are some of the things you worked on when you were on the ground there?

Adam Browning:

Oh, I was in a little country called Guinea-Bissau in West Africa, just south of Senegal. The first group of volunteers doing some agriculture work. We were focused on rice growing. Tell you what. It was first year. It was really just about figuring out how to live. People were wonderful. The second year was really about trying to get some projects done. It was the most challenging experience that I ever had to that point and probably ever will, being a father notwithstanding. If it’s something that appeals to you, I recommend it to anybody at any point in their lives.

Jon Powers:

What are some of the lessons you took away from working on the ground there?

Adam Browning:

Honestly, a lot of lessons that transfer over to work today. One is take the time to really get to know the world that you’re living in. Do not expect results right away. Change, when it happens, can go quite slow. There are a lot of reasons for the status quo. When we hire somebody, I first sit down and let them know that I really want them to master their area and their subject matter, and not think that they need to blow things up and change things immediately. I think that was one big lesson. Let’s see. The other, really enjoying what you do is critically important. It’s all relationships. The more time you spend getting to know people and building your relationships and having joy in that, the better off you’ll be.

Jon Powers:

Yeah, absolutely. Coming out of that, how did you end up joining the EPA?

Adam Browning:

When I left, that was back in end of ’94. The economy was not good. Actually, I just took to Goodwill the first sports coat that I bought after coming back from Peace Corps, that I went around to local restaurants, trying to find a bus boy job, and couldn’t find work at all. Returning Peace Corps volunteers have special hiring status with the federal government, so I looked into that. EPA was a local agency. I had always been an environmentalist. I really focused on getting a job there, simply because I just looked like I had an easier in with my Peace Corps service. So that was where I ended up.

Jon Powers:

Were you working on energy stuff at EPA? What was your focus there?

Adam Browning:

My first effort with EPA was a lead-based paint program-

Jon Powers:

Oh, interesting.

Adam Browning:

… specifically focused on tribes, which have unique standing vis-à-vis the federal government. This was a grant program with the tribes in region nine, covering Arizona and Nevada, Hawaii and California. That was a really interesting program. I transitioned after a while into the toxics release inventory program. That ended up being fascinating work. I ended up doing a lot of enforcement-related work and then a lot of work with goldmines in Nevada, where I ended up.

Jon Powers:

Were you out in California then?

Adam Browning:

Yeah. Region nine, in the San Francisco office, out in California. Yep.

Jon Powers:

Excellent. What led from playing in the goldmines of Nevada to, in 2002, launching Vote Solar? Before getting into the Vote Solar piece, why did you want to get into the advocacy piece after having been on the service side and then the public service side?

Adam Browning:

Sure. Again, it wasn’t a plan that I had from the start, that I was just following out a path to a goal that I had. It’s more going from one interesting thing to the other. Working for the EPA, for the federal government, great introduction to understanding how environmental protection and our laws that our country have are applied and how it all works. There are some things left to be desired by working for the federal government. It’s a large bureaucracy. Innovation can be a little hard to come by. I’ve always enjoyed being my own boss. It wasn’t necessarily that I had a plan, but what ended up happening was I saw another opportunity and jumped on it. That specifically was an old college roommate, David Hochschild. Not actually a roommate. He was a hall mate. He was working for the mayor, Willie Brown, in San Francisco. He had an idea to try to put solar on city-owned buildings, do energy efficiency. That ended up becoming a ballot initiative.

Adam Browning:

I had never really been involved in a political process before. I found it exhilarating. We had really captured the imagination of a lot of people in the city. We had hundreds, if not thousands, of volunteers that were really excited about this idea of a transition to renewable energy. For me personally, doing a lot of enforcement with the EPA, fining people for what’s coming out of their smokestacks, this whole idea of you don’t even need control equipment. There’s no enforcement necessary. We’re just going to skip the whole smokestack route altogether. Really, it had visceral appeal of going to a cheaper, cleaner, faster, better way of producing energy. Of course, solar, at that point, wasn’t cheaper, but we had a vision for it. Through economies of scale, you could bring down the costs. That was the whole idea behind the San Francisco Solar Bond, Proposition B, in 2001.

Jon Powers:

Interesting. I have a similar path. When I left the military, I had never done anything political in my life. Came home and had a friend who had been working on Kerry’s presidential race. She knew I was an Iraq vet. Had me go out to Iowa to campaign, and for the first time was on the ground, talking to folks about my experiences. It just led me in a completely different path in life.

Jon Powers:

Later on, when I sat in a federal seat and worked across the agencies on their energy footprint, it became really apparent to me how important those voices, the voices of folks that were actually working in these issues, are. And then having them come and advocate for their positions, it’s something that the people sitting in these seats, especially here in Washington, but I’d say equally in Sacramento or in Albany, I’m from New York, originally. They’re experts as far as they can go. But the real voices they need are the ones that are out there doing the work. That kind of advocacy can be game changing. Obviously, it’s probably why you started Vote Solar. Talk a little bit about transitioning from that ballot initiative into co-founding Vote Solar in 2002.

Adam Browning:

Yeah. Well, let me just riff on your story as well. What I have found, and it sounds like you as well, people really want to be a part of something bigger than themselves. They genuinely are interested in seeing change. The difficulty is trying to provide the right vessel, the right vehicle, the right space, where you can actually get involved and make something happen. That’s what I feel is where solar and part of the foundational premise of Vote Solar comes in. After we pass that ballot initiative, which is, again, just to do solar and energy efficiency on city-owned buildings, and have the energy savings pay for those capital retrofits, we had calls from cities around the country. We had New York Times calling. It quickly became apparent that there was a hunger for this kind of change out there that led us to decide to quit our jobs and start a new nonprofit focused on replicating those city-led initiatives the best we could.

Adam Browning:

We quickly found out that, while city-led initiatives were good in and of themselves, where the real rules were made was at state-level policies. You had to have the right state-level enabling infrastructure to allow for a city or a person to take advantage of one of the real strengths of solar, which is that you don’t have to wait for your utility to do the right thing. You can take it upon yourself to invest in this, a mission-free technology, and to fundamentally participate in democracy and environmental decision making. But in order to allow that to happen, you have to have the right regulatory infrastructure in order to enable people to choose to make their own power through solar energy, whether you’re a person or whether you’re a city. So we changed the orientation and the focus of the organization to state-level policies.

Jon Powers:

Very focused in California in the beginning, right? I mean, you guys were really laying the groundwork for what ended up rolling across the country throughout the rest of the decade.

Adam Browning:

Exactly. When we got our start, there was a cap on net metering in California at 0.1% of total demand. Everyone at the utility side saying, “To expand that would risk grid failure and a business model collapse.” I didn’t know it at the time, but the next 15 years of my life would really be defined by incrementally expanding that cap to where we don’t have one right now in California at all.

Jon Powers:

It’s funny to hear those are the arguments, the counter arguments. It’s almost the same every time they want to shift. It’s the same argument they’re making today.

Adam Browning:

Exactly. The arguments are different now, only slightly. But yeah, we knocked down some of those impossible barriers a long time ago, or had to knock on them. But yeah, for many years Vote Solar was two people, then three people, then four people. The first big focus was in California, on the California Solar Initiative, a big, market-based incentive program that provided incentives for rooftop solar. Back then, solar was nine, 10 bucks a watt. Doing unincentivized solar wasn’t really possible in that market. So the whole idea was to establish this incentive program that would wean itself, that would lead to an end, at which point, it wasn’t necessary anymore and would go away. I think this is one of these wonderful examples that you don’t see all that often, of policy living up to its premise to a T, to deliver exactly what it’s set out to do, and ride off into the sunset. We hold up that as evidence of a very successful program.

Jon Powers:

It really did lay the foundation. When the next step, you started to look nationally, what are you going to do to drive down the cost of power or cost of these panels? You’ve got efforts like I think President Bush’s Energy Policy Act that set the investment tax credit in place. That was around 2005. Didn’t really get going in the market until 2007, maybe ’08, until we started seeing money really flow there. But all the state-level foundational work that you did, married to the federal stuff, started a pretty critical set of chain reactions, where policy lined up with markets.

Jon Powers:

I was doing some homework before we were doing interviews. I was looking just to even find the amount of installed solar in 2002. It’s really hard data to find because there wasn’t a whole lot out there. You flash forward now, where the end of 2016, the US had 40 gigawatts of installed PV, almost double the capacity from the previous year. In 2016, 39% of all new electricity generation in the country came from solar, ahead of even natural gas. We’re seeing employment numbers of this industry take off, where now we’ve gone from a nascent alternative energy to what’s really mainstream.

Jon Powers:

What I really want to talk about now is looking ahead, we’re at a unique time in the federal space, and then dive into the state conversation more deeply with you. But starting with the federal space, post the Obama administration, if you followed Energy Policy Act into the certain policies that came out of the Obama administration to help drive down the cost, things like SunShot that drive down the cost of the actual equipment. Now we’re at a place where the market is moving. Installations are happening at record numbers. But we’re facing two dramatic federal lines of attack. One is the solar trade case, which I want to talk a little bit about. And, of course, Secretary Perry’s recent push to really subsidize the coal industry. As you’re seeing this happen, how are you viewing those plays and how they’re going to affect us going forward?

Adam Browning:

Sure. Yeah. As an organization, our focus has always been focused on state-level policy. We’ve let the federal policy in the very good hands of SEIA, provided grassroots support for federal initiatives around the tax credit and the like. But our mantra has always been that state-level policy is where the most important rules of the road are set. So done a ton of RPSs and net metering and financing programs and tax policy around the country since then. After Trump was elected, it became really clear that we’re going to make progress in those times, that state-level policy, it was really where it’s at. The big states needed to go bigger. We needed to get good wins in some of the harder states to do, and we needed to play defense everywhere. I have to say, I have been surprised. It came as a surprise, just the magnitude of the federal resistance that we’ve seen so far. Did not anticipate this trade case, which, as you know, could double the price of modules, potentially.

Jon Powers:

Ironically, you’re seeing conservatives like Sean Hannity coming out against it and supporting, I think, the SEIA or the solar position on it, which is interesting.

Adam Browning:

It is quite interesting. Love to see that. At the same time, you look at, coming out of Perry’s DOE, a proposal to fundamentally blow up competitive energy markets to provide subsidies for out of the money coal and nuke plants, to the detriment of renewables and natural gas. This is something that is in direct contradiction with the rhetoric coming out of a party that is nominally used to competitive markets, or professes to be supportive of such. So really did not expect just the radical nature of the proposals to just make everybody pay more, to subsidize polluting coal and, again, destroy competitive markets and the pursuit of such. That is definitely something that we all need to have our eye on and fight as hard as we can for.

Jon Powers:

Yeah. I mean, it’s interesting. If you look back when this conversation started, when Perry landed there, there was certain folks within DOE who are politicized and trying to move this base load agenda. This summer, you and I did a joint op-ed pushing back on what’s expected to be the grid report, that I think they were hoping was going to empower them to go and really go after things like state RPSs and net metering. What it came out to show was, oh, no, actually, renewables are doing really well in the grid. As we argued, there’s real resilience in renewables. Then they seem like, “Oh, since that didn’t work like they had it planned, they decided to start going after FERC rules to try to provide subsidies of coal.” Then you’ve got major players like PJM and others coming out saying, “Wait a minute. Don’t distort the market like this.” Which is a really interesting counterattack that I don’t think I even saw coming, where you saw some of the major players who usually are relatively quiet on this stuff, saying, “Whoa, hold your horses. Let’s let the market play here.”

Adam Browning:

100% in agreement. In fact, when it was first floated, it didn’t even seem like something that we would need to provide too much advocacy focus on. It was too crazy, so far out of the mainstream, and so contradictory to things that are delivering great benefits to consumers through competitive markets, that it was just implausible that it would actually go forward. When you see some of the FERC commissioners providing supportive statements to elements of it, you really start to worry. This is something, again, that should be treated as just beyond the pale, and not really potentially being internalized. So there’s a lot more danger there.

Jon Powers:

Making interesting bedfellows with folks like the solar industry and the natural gas industry coming together on pushback. Let’s transition out of the federal space because I think those fights are going to happen, and we’ve got to all play an active role in pushing back on them. But it also really shines a light on the importance of focusing on state-level solutions. There’s been a lot of activity in 2016 and, of course, here in 2017 that are affecting the space. You guys have been very active. Everything from the recent elections here in Virginia and in New Jersey, what those mean for clean energy, but also some of the fights that you’ve been leading in Nevada and Florida, can you talk a little bit about what Vote Solar’s doing there?

Adam Browning:

Sure. Yeah. I do think it’s a case where the big leading states need to get bolder and go farther. Let’s just, again, start with California real quickly. The California Public Utilities Commission just released a report saying that this state could meet its 50% RPS. It’s on track to meet 50% RPS 10 years early, by 2020, so just a few years out, which really sets the bar for what is possible around the country. This past year, I think, has been a really dynamic showcase of what really is possible at the state level. Let’s begin with Nevada, where back almost two years ago now, you had solar’s worst loss ever. Absolutely the crushing of net metering. In the intervening 16 months, you had a ton of advocacy work that went into that state. We had people full time working on bringing back solar to Nevada. We had lawsuits going. We had regulatory strategy, legislative strategy.

Adam Browning:

The sum result of a lot of partners also working on this is that you had the most successful legislative session in, I would say, any state at any time. You had 11 major energy bills pass. Only nine of them were signed. The governor dropped the ball on the 40% RPS and our community solar bill, but you brought back full retail. Net metering, the rooftop solar market is moving forward. I would say that this was a real example of where the enemies of progress had a pretty pyrrhic victory. At the same time, you had a ballot initiative Nevada passed by a record 73% to essentially blow up Nevada energy in the IOUs and have a competitive market. It has to pass twice, so it hasn’t yet happened. Nonetheless, you saw the will of the voters.

Adam Browning:

We’ve got polling to show that after the big solar loss, where solar became a front-page issue for months, it affected electoral politics across the board. You had, in the race to succeed, Senator Harry Reed, one candidate taking a pro-solar position, and one taking an anti-solar position. We have polling to show that people held that solar view against Joe Heck and rewarded Catherine Cortez Masto, now the senator, accordingly. So this is a place where you’ve seen, really, solar flex its electoral muscles. You look across the country, and super majorities want to see this transition to renewable energy. Here is a place where you actually saw that play out at the polls.

Adam Browning:

Florida is another place where we saw some really helpful activity. I grew up in Miami, so I think I’m allowed to say, “Man, nothing good ever comes out of Florida.” That’s hyperbole, of course. But it’s just really hard to get wins in the Sunshine State. You have to go back to 2008 with Governor Crist to see when we had a huge win on net metering. But what we saw this past year, we worked with the Republican-dominated state legislature to put a tax abatement issue on the ballot. The ballot was on the primary last August, and it passed, again, by 73% of the vote. Then the legislature had to vote on it again to implement it. So three times. Twice in the legislature won. The huge majority of the people wanting to see this property tax abatement, which effectively lowers the cost of solar around 20%, in the third largest, most populous state in the country. So it’s really a big deal pass. This is a another example where you’re seeing, really, solar become an electoral issue, something that politicians have to pay attention to.

Adam Browning:

Flip forward to the just a few weeks ago, where you saw both in New Jersey and in Virginia, pro-solar leaders, pro-renewable energy leaders, get elected. The Virginia governor adopted 100% renewable platform, and the New Jersey governor has some really strong, renewable credentials. Those were pretty tightly contested races, but I think this is really the way of the future, where you see, in effect, in the absence of federal government leadership. In fact, when you’re looking at federal government intransigence on this subject, politicians really understanding that that is not where the people are at. The people want to see this transition. This is a vehicle to get elected.

Jon Powers:

These are deeply technical regulatory issues in many cases. I mean, obviously, someone in the industry, we can understand that. But to get people active and to vote on these and to help educate them on, whether it be regulatory issues, you mentioned IOUs earlier. If you went to Buffalo and polled, 99% of the people in Buffalo aren’t going to know an IOU is. So how do you educate voters? What role do folks in the industry have helping to do that? And then for listeners, how can they get up to speed and help advocate and push some of these things locally?

Adam Browning:

Just want to be clear from the outset that Vote Solar is a 501(c)(3) advocacy organization. As an organization, we can’t do electoral work. We can only do regulatory and a limited amount of legislative work.

Jon Powers:

But you can educate.

Adam Browning:

But I can certainly provide my personal opinion, which is that politicians rarely lead. They follow. It’s incumbent upon everyone to let their local leaders know what it is that they want to see in terms of for their future. You can always get involved in your local, state-level, and regulatory work through organizations like Vote Solar, where one of the fundamental premises of what we try to do is to get a decision on an important clean energy issue teed up for a vote at a commission, and then enable Vote Solar members to then be able to voice their opinion and say, “Look, you’re public policymakers. We’re the public. This is what we want to see at the state level.”

Adam Browning:

When it comes to the electoral politics, it’s up to individuals to contact their politicians to let them know that this is the type of policy that they want to see future leaders enact. I think the Sierra Club is doing an awesome job, as well as with Environment America, some of our good friends and partners there, on getting cities to sign up for 100% renewable energy or clean energy standards. Now, they still need state-level policies in order to live up to that goal. But it is a very clear demonstration that that is where the people end up wanting to go.

Jon Powers:

You guys have resources at votesolar.org for folks to get on and learn more?

Adam Browning:

The whole idea, exactly, is please, you become a member. Then we only ask for your zip code. That’s enable, both your name and your zip code. That means that when there is an important solar issue happening, generally at the state level, we plug you in, let you know what our campaigns are, wherever you may be, and keep you involved. Let you know when it is time to call the public utilities commission or call your state senator or representative to say you’re a rate payer. You’re a citizen. You’re a voter. This is the issue that is important to you. A lot of our work, we build these complex, super wonky arguments, do a lot of math to prove that solar alternative is better, and intervene legalistic ways in these important regulatory cases to, again, prove by math that we’re right. But you never win just because you’re right. You also have to align the politics with the outcome that you want to see. That’s where the people writ large come in.

Jon Powers:

I challenge all the listeners to go to votesolar.org, check it out. There’s new battlegrounds in places like Pennsylvania, where we can support the governor’s new initiatives on community solar, or Illinois, or Iowa. So get involved. Learn more from how you can get involved. Adam, I always leave on a final question. You’ve had such an incredible career in this space. If you can sit down with yourself coming out of high school in Miami, or coming out of college and heading to the Peace Corps, what advice would you give yourself?

Adam Browning:

I’m going to answer this two ways. I mean, on a personal level, I would tell everyone to follow their passion. Don’t think in terms of their whole career. Think in terms of what they really want to be working on now. Secondly, as someone who does a lot of hiring, I would tell people the one degree that I look for is a GSD. MAs and PhDs are awesome as far as it goes. But I also want to see that someone’s got a track record of getting stuff done. That is what my interviews are always focused on. Sure, you spent X amount of time at such place, but what did you deliver? What did you get done? Keep that in mind. That is the most valuable thing that you can ever use in any job interview.

Jon Powers:

That’s great. Well, you guys are definitely getting stuff done at Vote Solar. Thanks so much for taking the time today. We look forward to continuing to keep progress. As things are happening, be sure to come back, so we can talk about where folks can get involved in these state fights.

Adam Browning:

Thank you much. You keep up the great work yourself, Jon.

Jon Powers:

Thanks, Adam. Well, a lot to take out of that conversation with Adam Browning today. Go to votesolar.org to learn more about how you can get involved. If you’re not involved at the state level, these are where the fights are happening to really ensure that the marketplace continues to grow, both for solar, but also other clean energy technologies across the board. If I learned anything when I was in the federal government, it’s those folks that are working in the industry are passionate about the industry. That could be some of the most important advocates moving ahead. I just wanted to thank our producers, Lauren Glickman and Emily Connor, for their hard work. As always, if you have thoughts or advice on the show, please provide them at cleancapital.com. You can find our other episodes there. Look forward to continuing the conversation.
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CleanCapital 2017 Year in Review

By Thomas Byrne, Jon Powers and Marc Garrett

2017 was a big year for CleanCapital. As a company, we continue to revolutionize the clean energy market through simpler finance. Clean energy remains a largely untapped investment opportunity for many unfamiliar with the asset class and developers lacking access to capital needed.

CleanCapital is addressing these issues by creating a marketplace that provides opportunities for investors and access to capital for developers, through a platform that identifies, screens, and manages clean energy projects.

Here are some of our major accomplishments of 2017:

 

 

Our investors have kept 18,000+ tons of CO2 out of the atmosphere by funding solar projects. Climate change is a threat multiplier, that’s why CleanCapital is accelerating clean energy through simpler finance.

Expanding opportunities for clean energy investing

We are expanding opportunities for clean energy investing. In 2017, we acquired nearly $30M in operation solar projects. That’s 330 operating solar projects, over 16 Megawatts (MW) in 5 states. This brings our total to over 24 MW in 10 states.

Closed our series A

In November, wee closed $3.7M in Series A financing. This investment came through 50 investors to include FinTech and CleanTech leaders and will allow us to accelerate implementation of our technology roadmap, scale operations, grow our team, and expand opportunities for clean energy investing.

Learn from Experts Only podcast

We launched the new Experts Only podcast in 2017. To date, we’ve released 12 Episodes featuring conversations that explore the intersection of energy, innovation and finance. Our final episode of 2017 featured Adam Browning, Executive Director of Vote Solar. We already have exciting conversations lined up for the new year and we can’t wait to share them with you. Make sure you’re subscribed to listen wherever you get your podcasts.

We also spent time updating our brand and website, expanding our team, scaling operations and providing thought leadership across the clean energy industry.

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* MWh are a calculated with real data and projections from projects acquired in 2017
** Calculations based on EPA Greenhouse Gas Equivalencies Calculator

Solar and tigers and bears oh my!

It’s not everyday you get to help install a solar system…it’s also not every day you get to do it in the jungle with elephants and rhinos passing by…

Earlier this month I took an incredible trip to Nepal with GRID Alternatives where I helped install a 1.2 kW off-grid solar system in the Chitwan National Park.

Often in the clean energy space, unless you are a developer or installer yourself, us computer and desk laborers can feel fairly far removed from the technology and often our knowledge of the technical side of the business can be intangible and learned only from drawings and maintenance reports. I wanted to get my hands dirty and help build a system from start to finish.

Continue reading “Solar and tigers and bears oh my!”