Understanding the Solar Trade Case: My Conversation with SEIA CEO Abigail Ross Hopper Solar power has blossomed over the last 10 years from a nascent industry to a $23 billion market that continues to grow. I recently had the opportunity to sit down with Abigail Ross Hopper, President and CEO of the Solar Energy Industries Association (SEIA) for a candid discussion on the current state of the U.S. solar market. This conversation kicks off “Experts Only,” a new podcast by CleanCapital in which we explore the intersection of energy, innovation and finance. My conversation with Abby was extremely timely given the trade case before the U.S. International Trade Commission (ITC). In this episode, we dive deep into the case and the impacts that it may have on the industry. Abby provides a critical and informative background on where the case stands and the path to getting it resolved. We discuss the context on just how big the American solar industry is today. It’s one of the fastest growing job sectors, with 1 in 50 jobs last year coming from solar. The industry employs more people than Google, Facebook and Apple combined. With tens of thousands of jobs on the line, the Suniva trade case has become an issue for which a broad, bipartisan coalition of companies, trade associations and other organizations are aligned in their opposition to the case. The solar industry comes together for Solar Power International (SPI) in Las Vegas in a few short weeks. As always, SPI provides us with a great opportunity to connect as an industry, learn from each other and celebrate just how far we’ve come. It’s also an opportunity to look ahead. This year The Solar Foundation, in partnership with SEIA, will release a new study that is the first-of-its-kind, comprehensive baseline analysis of diversity in the solar industry. The study will provide a comprehensive analysis of the representation and experiences of women, racial and ethnic minorities, veterans and members of the LGBTQ community in the solar industry. This study is a crucial step towards becoming a more equitable industry that is both reflective of the diversity of our customers and a great place a work for us and our colleagues. For those interested in learning more about the ITC case or the solar industry more broadly, give the episode a listen. If you like what you hear, be sure to subscribe, share and leave us a review on iTunes or wherever you get your podcasts. You can also get involved with SEIA and the ongoing trade case by visiting Seia.org/trade to learn more.
CleanCapital Acquires $30M in New Solar Operating Assets: Is Your Project Next? [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” custom_class=” admin_preview_bg=”] CleanCapital Acquires $30M in New Solar Operating Assets: Is Your Project Next? [/av_textblock] [av_codeblock wrapper_element=” wrapper_element_attributes=” custom_class=”] August 24, 2017 /in Blog /by Jon Powers [/av_codeblock] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” custom_class=” admin_preview_bg=”] It’s an exciting time to be in clean energy finance. The solar industry continues to set records and surpass obstacles. On Monday the solar industry faced the challenge of a once-in-a-hundred-year event: a total solar eclipse that took 9 GW of solar offline. Thanks to advancements in grid resiliency, grid operators throughout the nation were able to manage electricity demand throughout the eclipse and ramp solar production back immediately after it passed. But while the solar industry continues to grow at a record-breaking pace, the flow of capital within the space remains largely stagnant. CleanCapital’s recent acquisitions of operating solar assets totaling nearly $30 million are meeting this challenge head on. Our comprehensive and streamlined due diligence process makes the acquisition of operating solar portfolios straight forward and releases much needed capital for project owners to fund future development. These newly acquired solar projects in Arizona, California, Ohio and Missouri consist of high quality customers including schools, universities, and government facilities. CleanCapital’s efficient process has enabled us to acquire projects ranging in size and scale. Our recent solar acquisitions include portfolios such as: [/av_textblock] [av_hr class=’short’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ custom_class=” admin_preview_bg=”] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” custom_class=” admin_preview_bg=”] CleanCapital recent solar acquisitions: Nearly 4 MW across 13 projects in Arizona and California, with university and municipality offtakers 1.3 MW in Ohio that includes both rooftop and ground-mounted systems Nearly 9 MW of rooftop systems in Missouri, across more than 300 projects with long-term lease agreements [/av_textblock] [av_hr class=’short’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ custom_class=” admin_preview_bg=”] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” custom_class=” admin_preview_bg=”] Closing complex deals like these is vital to our efforts to provide comprehensive capital solutions throughout the clean energy marketplace. As the marketplace evolves we are excited marketplace evolves, we are excited to expand into other verticals like non-investment grade solar assets. Our flexible capital allows us to finance a variety of solar assets ranging in size and risk profiles. We are looking for projects with lower credit quality and merchant revenues. [/av_textblock] [av_testimonials style=’slider’ columns=’2′ grid_style=” interval=’10’ font_color=” custom_title=” custom_content=” custom_class=” admin_preview_bg=”] [av_testimonial_single src=’1298′ name=’Scott Tonn, Principal’ subtitle=’Tonn Investments, LLC’ link=’http://’ linktext=”] “The CleanCapital team knows how to manage the complex process of acquiring operating solar assets. Deals like this require diligence and professionalism and the CleanCapital team deliver on both fronts. I am looking forward to working closely with them in the future.” [/av_testimonial_single] [/av_testimonials] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” custom_class=” admin_preview_bg=”] The acquisition of these high-quality operating solar projects allows us to provide steady returns for investors. If you are a solar developer seeking partners to provide liquidity for your operating portfolio, let us know. We’re open for business. Learn more and partner with us today [/av_textblock] [av_testimonials style=’slider’ columns=’2′ grid_style=” interval=’10’ font_color=” custom_title=” custom_content=” custom_class=” admin_preview_bg=”] [av_testimonial_single src=’1775′ name=’Adam Blake, CEO’ subtitle=’Brightergy, LLC’ link=” linktext=”] “The CleanCapital team brings their professionalism, competence, and flexibility to the Missouri solar marketplace. CleanCapital’s streamlined diligence made this transition possible, and frees up much-needed capital for the continued expansion of solar, I look forward to working together in the future.” [/av_testimonial_single] [/av_testimonials]
Episode 3: Lisa Jacobson [av_image src=’https://cleancapital.com/wp-content/uploads/2019/03/podcast-image-pageheader2.jpg’ attachment=’4329′ attachment_size=’full’ align=’center’ styling=” hover=” link=’page,249′ target=” caption=” font_size=” appearance=” overlay_opacity=’0.4′ overlay_color=’#000000′ overlay_text_color=’#ffffff’ copyright=” animation=’no-animation’ av_uid=’av-jwwgyb48′ custom_class=” admin_preview_bg=”][/av_image] [av_hr class=’invisible’ height=’20’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jwwgxszg’ custom_class=” admin_preview_bg=”] Episode 3: Lisa Jacobson [/av_textblock] [av_hr class=’invisible’ height=’10’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jwl4lsb2′ custom_class=” admin_preview_bg=”] On this podcast, host Jon Powers sits down with Lisa Jacobson, President of the Business Council for Sustainable Energy (BCSE). BSCE is a 55 member trade association representing the energy efficiency, renewable energy, and natural gas industries. This episode discusses the 2017 Sustainable Energy Factbook published with Bloomberg New Energy Finance. At BSCE, Lisa Jacobson advises states and federal policymakers on energy, tax, air quality, and climate change issues. She is a member of the Department of Energy’s State Energy Efficiency Steering Committee, the United States Trade Representative’s Trade and Environment Policy Advisory Committee, and Gas Technology Institute’s Public Interest Advisory Committee. Prior to her position with the BCSE, Ms. Jacobson was a legislative aide to the U.S. Congress. She received a Master’s in International Relations from the London School of Economics and Political Science, and a Bachelors degree in Political Science from the University of Vermont. [/av_textblock] [av_hr class=’invisible’ height=’20’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jwwh5253′ custom_class=” admin_preview_bg=”] Listen now [/av_textblock] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jwl43nfd’ custom_class=” admin_preview_bg=”] [/av_textblock] [av_hr class=’invisible’ height=’20’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”] [av_textblock textblock_styling_align=” textblock_styling=” textblock_styling_gap=” textblock_styling_mobile=” size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” font_color=” color=” id=” custom_class=” template_class=” av_uid=’av-l6562mif’ sc_version=’1.0′ admin_preview_bg=”] Transcript [/av_textblock] [av_textblock textblock_styling_align=” textblock_styling=” textblock_styling_gap=” textblock_styling_mobile=” size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” font_color=” color=” id=” custom_class=” template_class=” av_uid=’av-l656nfin’ sc_version=’1.0′ admin_preview_bg=”] 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: Lisa, thank you so much for joining us here on CleanCapital’s Experts Only Podcast. Really excited to have you on. I’d love you. If you could start off by talking to the audience about your personal journey in this space. How did you end up where you are? Lisa Jacobson: Thank you, Jon. It is such a privilege to be talking with you and to be on this podcast. Wow, my journey. Well, I’m currently serving as the president of the Business Council for Sustainable Energy and the council is celebrating its 25th anniversary this year, really an amazing milestone. But I got involved with the energy industry after graduate school in the late 1990s. I had been working in the policy space, mostly in Washington, D.C. as an aid to Congress and had been working on a whole host of non-energy and environmental-related topics, education, healthcare, again, not in the energy and environment space. Lisa Jacobson: When I went to graduate school, I had made a choice that I wanted to work on global economic issues, trade policy, and I got to know a number of people that were working in the energy space. One of the papers that was written by a friend of mine that I reviewed as our thesis for graduate school was on environmental economics and emissions trading. After reading that, it was clear to me that the world was moving in new ways and could capture these amazing attributes if we just had financial models that would value them, so when I left graduate school, I wanted to combine my interest in global issues, trade policy, and now my newfound interest in environmental economics. I wanted to work on global climate change issues. That’s how I got involved in the energy industry, mostly working for renewable energy, energy efficiency, and natural gas sectors. That’s who the Business Council represents today, so it’s a perfect fit for me. Jon Powers: Yeah, so tell the audience a little bit about the Business Council. First of all, congratulations on 25 years. That’s amazing. The first time I met you is when I was working at the White House as the chief sustainability officer of the federal government and you would come in with the council and talk to us about a lot of things that are happening in the industry. Talk a little bit about the Business Council’s mission and then how do you go about implementing that mission. Lisa Jacobson: Sure. The council’s focus is to promote policies that expand markets broadly for energy efficiency, natural gas, and renewable energy, kind of the clean energy portfolio, and really, these are the growth sectors of the US energy economy today, and if you look around the world, that’s where the trends are, too. This broad portfolio can serve the needs of our power system and our energy system at large very affordably and in a reliable fashion, and very importantly to the Business Council, with low carbon and low air-pollutant emissions. Lisa Jacobson: The council is a unique coalition because we represent so many different businesses. I mean, in any one sector, even just looking at solar, you’ve got many different business models that make up the supply chain, so now take that and include all the renewable technologies and then add on the supply side and demand side efficiency industries, and then the natural gas industries. You have, really, a group of people that might not see eye to eye on, on many things, but in fact, they do. When it comes to the policy space, they want to see market-based approaches that provide a value for the services they provide and that recognize the environmental attributes of what they offer to customers around the globe. Lisa Jacobson: We work together to identify where we have a common interest in the policy space, and primarily that’s federal policy, though we do work at the state level, and I know we might want to talk a little bit about that in a few moments, but we identify where we have common interest. Then we map out strategies to talk to the policymakers that will be influencing those topics. As I said, we’ve been together as this broad-based coalition for over two decades and we’ve had a good number of successes. I think when you look at the actual data and the market growth across efficiency, renewables, and natural gas, it shows that when you have policy clarity and a long-term vision, you can have a really impressive deployment. Jon Powers: Well, that’s interesting. I mean, one of the things we’re really focused on at this podcast is to help educate folks, not just the true believers, but folks who may not fully understand the market on why that clean energy is not only here to stay, but we’ve evolved as an industry. I really love the fact that you talk about it as the growth sector of the US economy. In this current political environment, both of us living here in Washington, D.C. there’s obviously a constant back and forth right now within this administration, but just in general. How do you take your message into this political climate and what kind of reception are you receiving to that message? Lisa Jacobson: Well, I think again, always starting with the facts helps. The facts aren’t always in your favor, right? You have to be willing to look at the world as it is, understanding where your strengths are, and where you can improve. But right now, when it comes to efficiency, renewables, and natural gas, and especially when you pull them all together in a portfolio, there are very significant benefits, and we are clearly on the rise in the marketplace, so it’s very hard to dismiss that kind of a portfolio when it comes to talk to you. If you’re a policymaker, whether you’re within the Trump administration, or in Congress, or at the state and local level, if you can show that you have significant growth and significant jobs and economic benefit, then you’re going to at least be listened to. Lisa Jacobson: I think for us, it’s not really an ideological conversation. It’s really about the market changes that are occurring and how to ensure opportunity for new technologies to participate in markets and that the market structures that we have, which have many layers, often were put together and adopted in a very different era, some going back 20, 30, 40 years, so we really need to have a conversation across all levels of government about updating market rules that reflect the current needs of our energy system and the needs that we’re going to have going into the future. It’s more about change than it is about ideology. I think for especially the Trump administration, a lot of what businesses need are market-based, fair systems, and that should be one set of arguments that is very compelling. Jon Powers: Going back to your comment about facts, each year the Business Council for Sustainable Energy partners with Bloomberg New Energy Finance to publish a sustainable energy factbook. I personally utilize this factbook. It’s an incredible resource, really dives into the industry and talks about where it is today. This can be found at bcse.org. It’s a great reference for professionals, it’s a great reference for policymakers, for advocates, and those looking to get educated on the industry. We actually share it out with folks who are asking questions about where the industry is today. Talk a little bit about the history of the factbook and then I want to dive in some of the stuff that came into the 2017 version. Lisa Jacobson: Thank you. That’s a very high endorsement. I’m really glad to know, Jon, that you’re doing exactly what we hoped and you’re sharing it far and wide. Again, it is all available for free. There are many tools on our website that can help you search it and help share this information in a very user-friendly manner, so I encourage everybody to check it out. Then if you have comments on how we can make it better, a chart you don’t see that you wish were in there, or some kind of graphics or video you’d like us to produce to tell a story, please contact the Business Council. You can contact me directly, Lisa Jacobson. I’d be happy to get any input from those that might be listening to this podcast. Lisa Jacobson: But the reason for the fact book is quite how a lot of ideas come about, we were sitting around the table of a board meeting planning for our 20th anniversary, going back a few years. We had been working for a good number of years with Bloomberg New Energy Finance informally and one of their analysts was sharing information about the market and you know, what they were seeing in terms of current trends and future trends. Lisa Jacobson: A number of us looked at each other and said, “Well, this is really terrific. They’ve got some great data in a few areas, but they really aren’t talking about or capturing information about many other sectors that, while they might be small today are going to play a very large role going into the future.” Anything from combined heat and power to fuel cells to understanding the broad portfolio of the renewable technologies, so there was a lot of good information on winded, solar, but not so much on things like hydro, which is quite amazing given that hydro is such a dominant, renewable energy technology, but nonetheless, there wasn’t a lot of tracking of hydropower, waste to energy, geothermal, biomass. There was a lot of gaps there. Lisa Jacobson: Then on the whole kind of energy efficiency suite of technologies, they were tracking smart meters, but they really weren’t tracking much else. Then on natural gas, we were in the midst of this big transformation. While they had natural gas analysts, they weren’t knitting it all together, so we decided to partner with them and build out the Sustainable Energy in America Factbook. What it does is it provides a very tight, neat, easy-to-understand view of what’s going on big picture, but then it also has many industry-specific sections where you can get up to speed on these technologies that I said that are relatively small now, but are poised to grow. I think about sustainable transportation, electric vehicles, or batteries, and then the whole storage movement. I mean, those were really in their infancy when we first started the factbook. I’m so glad we started when we did, because now, the data is quite significant, and we all know that those are extremely topical technology areas that people want to understand. Jon Powers: Yeah, I love the breadth of the factbook. One of the things, if you’re new to the industry, people think about clean energy, maybe they think about technology. They do think about wind and solar, but if you don’t understand everything from green buildings to meters, to energy-efficient HVACs, to biomass, to fuel cells on the production side, or skip that to the transportation side, electric vehicles, fuel cell vehicles. There’s so much moving across the spectrum that I think people can feel lost and when you dive into the factbook, it really gives you a good sense of where each of those areas are, and you get to understand what’s emerging. I think people have talked about the Holy Grail of storage for a decade. Well, storage is coming to reality today in a whole new way. Jon Powers: At CleanCapital, we focus right now on solar projects. I think our mission is to bring more capital to bear to clean energy as a whole though, so we’ll be moving into other verticals in the future, but I do want to focus on solar for a second. As you know, the industry’s really grown over the last decade, but the bulk of our solar projects have come online within the last five years. There were 35 gigawatts between 2012 and 2016 and a lot of this has happened as the cost of these installations have fell, the price of the panels, better efficiency in the industry. Can you talk a little bit about what you guys have discovered and what you’ve seen over the course of doing the factbook and the response to policymakers as you talk to them about this? Lisa Jacobson: Well, thank you. I think I go back to this policy message because when you look at the growth of solar, and especially when you contrast that with other technologies in the renewable space, you really see the benefit of consistent policy that will then therefore guide investment. When you look back just five, six years when the ITC, the investment tax credit that solar can benefit from as well as a number of other technologies got its five-year lifespan, you started to see in all the charts a steady uptick in growth in solar, and we’re still building on that today. Lisa Jacobson: For other technologies that have benefited from tax measures, sometimes they’ve been very start/stop, and you really also can see the boom and bust that comes with it. I’m thinking very particularly about the wind industry and the production tax credit, and if you go back over the last 10, 15 years, you’ll see very clearly where it had a two-year extension, and then there was a period of time where there was uncertainty, and then deployment dropped off. It’s just boom, bust, boom, bust, and it’s very, very clear. What the factbook enables you to do is really track these things together and see what underlies that dynamic. Lisa Jacobson: The factbook, it’s not just for renewables. I mean, we have seen dramatic improvements in energy efficiency over the last 10, 15 years, and you see our energy productivity gain, so our growth versus energy consumption, we’re really decoupling between our growth and our energy use. Energy use is basically flat, but we’ve still experienced growth as a country, and so you see charts where we’re really going in those different directions, and it’s quite remarkable, so then you wonder, “Okay, well, what’s underpinning that? If you go to the energy efficiency section, whether it be investment by utilities or investment in the private sector, whether it be policy leadership on things like building codes, or other energy efficiency measures like energy efficiency resource standards, if you look back at that same time period where our energy productivity is increased, you see hockey stick charts across the board in terms of investment or policy leadership and energy efficiency, so policy and the impact of clear sustained policy comes to light when you look at the data. Jon Powers: Yeah, that data’s so important. I think for policymakers right now, there’s so many interesting and polar opposite messages out there for them to listen to, but when you put the facts in front of them, it’s hard for them to debate it. When you look at specifically the investment side of this, 2015 set an all-time record with over $63 billion in investment in clean energy. That fell slightly in 2016 to down to almost 59 billion, or about 7% decline. Some of that is caused by a drop in the public market funding, as companies in the solar space, for instance, began to look in other avenues. Talk a little bit about what you’ve seen on the investment side of clean energy and where you guys think it’s going Lisa Jacobson: Well, I hate to sound like a broken record, but I think a lot of the uptick in 2015 was to capture the tax benefits that were set to expire at the end of that year, and then at the very end of the year, they got extended for a number of years, another longer-term extension for just solar, unfortunately, in the ITC. It’s a big challenge when we have policy leadership in one technology area, but not in a more fuel-neutral or technology-neutral fashion, and certainly for the renewables industries, this has been a big challenge, but we’re just talking about solar now. Jon Powers: Just for background for our listeners and what that means, basically the investment tax credit, which is a 30% tax credit on the construction of projects, solar, but other projects as well, was set to expire. I mean, all the projects had to be built in the ground operating by December 31st, 2016. December 2015, during some major negotiations around the budget, and some other significant, a major bill happened in Congress. There was a late-night negotiation that really brought together clean energy tax credits, both for wind and solar. It really tied it to oil exports, so you had a bipartisan support from the Republican and Democratic side. It was a at-midnight negotiation and the bill came out the next morning, but that was game-changing for the industry because it really helped provide the policy stability that Lisa’s been talking about, as not just the developers and the builders, but the financiers said, “Okay, this is here to stay coming forward.” Sorry, I didn’t mean to interrupt you, but I thought I’d say that. Lisa Jacobson: No, no, that was excellent. Thank you for giving that background. You were on the front lines of that at the time, as a number of us were, so it was really important for the growth of the solar industry to have that kind of stability, so while there was tremendous pressure to move projects in late 2015 anticipating the expiration of the credit the following year, when you have that relief, the market responds, so the urgency is off. I’m not suggesting that’s the whole story, but it certainly, I think, is part of the story. Now, we had kind of a glide path over the next five years, starting in 2016 that could enable steady investment and a pipeline to be built, and I think that’s what we’re seeing today. Jon Powers: Without us having an overarching federal energy policy in the US, right, or maybe an ever ever-changing federal energy policy, as the industries have grown and they’ve matured, so much of this is integrated at the state level, whether it be engagement with the utilities and the public utility commissions, state-level renewable portfolio standards, may seem archaic policies like net metering, right? This is just a state-level fight on so many levels. How does your message change, or how do your partners with BCSE take their message to the state-level folks, and how does that differ from what they’re talking to the federal folks about? Lisa Jacobson: Well, as you noted, a lot of the policymaking is really at the state and local level for the power sector. I think the main messages are the same. I think what public utility commissioners and mayors and governors and all the others that are involved at the state level care about is number one, safe, reliable, and affordable electricity for their citizens. They also understand the connection between having safe, affordable, reliable electricity to fuel their economic growth at the state and regional level. Lisa Jacobson: What has been a more recent phenomenon, let’s say, in the last 20 years has been an interest in making sure that not only are we addressing air quality concerns so that our air emissions in partnership with federal policy are going down, but also addressing climate change and other sustainability issues, whether that be water or land policy, so they’re beginning to factor in a more comprehensive view of what kind of electricity and energy resources they want to have for their states or localities. Lisa Jacobson: For us, it’s really a lot of the same messages. It’s education. Number one, people aren’t as familiar with the technologies that we represent. They also probably are not familiar with their standing in the marketplace, how much they have grown in just a very short number of years, so it’s really getting them up to speed on the current situation in the power sector. Once they know, “Oh, okay. Well, I didn’t know that my neighboring states were doing a lot of demand response, or they’re using energy storage with renewables in a new way, that’s interesting.” Just like the financial community, they don’t want to take risks, especially when it again, involves the safety or reliability of providing electricity to their citizens, so they take that role very seriously, but they don’t always know where the technology or the marketplace is in the current environment when we’ve experienced so much change so recently. Jon Powers: Yeah, it seems at the state level, they don’t have the resources that the federal policymakers have, right, whether it be the renewable energy labs or other places they can tap into, which makes this message, and I think the messages you bring to the table that much more important, right? When you can bring them facts, tell them, you’re in Pennsylvania, what they’re doing in New York, what they’re doing in New Jersey, what they’re doing in Massachusetts, so they can learn, and in many times, adopt some of those policies that are working. Lisa Jacobson: Yes. I think the other really can’t say enough, affordability and cost. The two big questions we get are, “Are you reliable?” and “What do you cost?” because people think that these technologies are much more expensive than other options. In some cases, that may be true, but what we found in the marketplace is, in fact, wind and solar and a number of energy efficiency, natural gas, I mean, we’re breaking the records in terms of cost reductions, and when you look even without subsidies, these technologies are very competitive in many parts of the country. Lisa Jacobson: I mean, I can give you some specific examples, but I think bottom line, people have a lot very outdated view of what the cost of different technologies are, so a lot of our education is really showing the data to them, showing them what power purchase agreement prices are, where they’ve been, and where they’ve progressed for different technologies, showing them what the levelized cost of different technologies are so they can see that they don’t have just one or two options, they might have 10 or 15 options. Then this has to be factored into the planning process, usually multi-year planning process that goes through the public utility commissions in most parts of the country, so there’s a bit of a lag between the education, and then getting that baked into the planning and then the ultimate procurements that the customers will see on the other side. Jon Powers: I challenge our audience to go to bcse.org. You can both educate yourself, skim through and read the factbook. If you want to educate others, there’s just great resources there to do it. Feel free, obviously, to reach out to the Business Council ’cause they’re doing an amazing job helping to educate folks across the country and the importance of a sustainable energy future. Jon Powers: I’m going to ask you final question, Lisa, that I ask all our interviewees. It’s about your career. If you could go back, you’ve established an incredible career in the space, and if you could sit down with yourself coming out of high school, or even college, what advice would you give yourself today? Lisa Jacobson: That’s a good question. I have a 11-year-old and 14-year-old daughter, so I’m just beginning to start thinking about these things for them. I think one of the things, first of all, take risks. I mean, when people tell you no, if it’s something you want, don’t listen to them because certainly, I think back at different circumstances in my early career, or in college, people told me no. Luckily, I found other routes, and I had enough confidence in myself to say, “Well, that may be their choice, but it’s not mine,” so don’t let people tell you no, especially when you’re just starting something. Lisa Jacobson: Then second, internships were so helpful to me, and seeking out the positive. Again, there may be people that tell you no, but they’ll probably be people that are encouraging you, too, so gravitate towards the positive. Push the negative away and focus on the positive. Lisa Jacobson: Then finally, you never know where life is going to take you, and you need to be open to that. If you had asked me at 25, if I’d be working on energy and environmental issues, I would’ve said no. “That’s where your career’s going to be, Lisa,” I would’ve said, “Really? That’s surprising.” You just never know where the world will take you and you never know what relationships you make and how they’re going to influence things going forward. Lisa Jacobson: I already said that was my final comment, but I guess my final comment is always appreciate and respect the relationships that you make because someone you may meet at one period of time could be really helpful and important later on that you may never have anticipated that, so again, just be really mindful about the relationships that you make and very respectful of them because they may be your partner 15, 20 years later. Jon Powers: That’s great advice and something I definitely want to share with my own kids. I mean, same thing, if I look back at myself, when I was coming out of college was an elementary education major going in the Army, never thought I’d end up sort of being where I am today. Well, Lisa, thank you so much for joining us. Thank you for the incredible work that the Business Council’s doing and we’re honored to have you join us on CleanCapital’s Experts Only podcast. Lisa Jacobson: Oh, thank you, Jon. Congratulations to all the work and all that you’re contributing to the markets as well. Jon Powers: Thank you so much. [/av_textblock] [av_hr class=’invisible’ height=’20’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=” custom_class=” admin_preview_bg=”] [av_social_share title=’Share this entry’ style=” buttons=” share_facebook=” share_twitter=” share_pinterest=” share_gplus=” share_reddit=” share_linkedin=” share_tumblr=” share_vk=” share_mail=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av_uid=’av-354olk’] [av_hr class=’invisible’ height=’40’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”] [av_button label=’More Podcasts’ link=’page,249′ link_target=” size=’small’ position=’center’ label_display=” icon_select=’no’ icon=’ue800′ font=’entypo-fontello’ color=’theme-color’ custom_bg=’#444444′ custom_font=’#ffffff’ av_uid=’av-jx1x7jx3′ custom_class=” admin_preview_bg=”] [av_hr class=’invisible’ height=’40’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”]
Episode 2: Abigail Ross Hopper [av_image src=’https://cleancapital.com/wp-content/uploads/2019/03/podcast-image-pageheader2.jpg’ attachment=’4329′ attachment_size=’full’ align=’center’ styling=” hover=” link=’page,249′ target=” caption=” font_size=” appearance=” overlay_opacity=’0.4′ overlay_color=’#000000′ overlay_text_color=’#ffffff’ copyright=” animation=’no-animation’ av_uid=’av-jwwgyb48′ custom_class=” admin_preview_bg=”][/av_image] [av_hr class=’invisible’ height=’20’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jwwgxszg’ custom_class=” admin_preview_bg=”] Episode 2: Abigail Ross Hopper [/av_textblock] [av_hr class=’invisible’ height=’10’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jwl4lsb2′ custom_class=” admin_preview_bg=”] For our first podcast, host Jon Powers sits down with Abigail Ross Hopper, President and CEO of the Solar Energy Industries Association (SEIA). This episode explores the growing solar industry and takes a deep dive into the Suniva Trade Case that poses risks to the growing market. SEIA is the national trade organization for America’s solar energy industries. Abigail Ross Hopper oversees all of SEIA’s activities, including government affairs, research, communications, and industry leadership. Her focus is to create a marketplace where solar will constitute a significant percentage of America’s energy generation. Prior to SEIA, Ms. Hopper served as the Director of the Maryland Energy Administration (MEA) and as Energy Advisor to Maryland Governor Martin O’Malley. Ms. Hopper graduated Cum Laude from the University of Maryland School of Law and holds a Bachelor of Arts from Dartmouth College. [/av_textblock] [av_hr class=’invisible’ height=’20’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jwwh5253′ custom_class=” admin_preview_bg=”] Listen now [/av_textblock] [av_hr class=’invisible’ height=’20’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-4pgak8′ custom_class=” admin_preview_bg=”] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jwl43nfd’ custom_class=” admin_preview_bg=”] [/av_textblock] [av_hr class=’invisible’ height=’20’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-2tu3e0′ custom_class=” admin_preview_bg=”] [av_textblock textblock_styling_align=” textblock_styling=” textblock_styling_gap=” textblock_styling_mobile=” size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” font_color=” color=” id=” custom_class=” template_class=” av_uid=’av-l63upnog’ sc_version=’1.0′ admin_preview_bg=”] Transcript [/av_textblock] [av_textblock textblock_styling_align=” textblock_styling=” textblock_styling_gap=” textblock_styling_mobile=” size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” font_color=” color=” id=” custom_class=” template_class=” av_uid=’av-l63urz88′ sc_version=’1.0′ admin_preview_bg=”] 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 Jon 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 five star review. Jon Powers: Welcome, my name’s Jon Powers. I’m the host of Clean Capital’s Experts Only Podcast where we explore the intersection between energy, innovation, and finance. You can go to cleancapital.com to get our current episodes. Today, we’ll be speaking with Abigail Ross Hopper, the president and CEO of the Solar Energy Industry Association. We’re going to talk to her about her personal journey in the space as well as about the growth of the solar industry and the incredible track that it’s on, but we’re also going to take a deep dive into the Suniva trade case that’s currently threatening the 23 billion solar industry and give you some tools of what you can do to take action, to help support the industry. Jon Powers: Abby, thanks so much for joining me on the Experts Only Podcast. Really excited to have you on and wanted to talk to you a little bit about your amazing history in the energy space. You and I first met when we were both part of the Obama administration. You were the director of the Department of Interiors Bureau of Ocean Energy Management. Prior to that, you’d been working the energy administration in Maryland. What drove you into this industry? And tell us a little bit about your personal experiences and stories. Abigail Ross Hopper: Sure. So Jon, thank you so much for having me. It’s really an honor to be here. Gosh, I don’t think of my story as very exceptional. I’ve just have had incredible opportunities to work in an incredibly exciting space. And so when I started working for Governor O’Malley and the great state of Maryland, it was because I loved his vision of the future. I loved the idea that we could reduce our energy usage, embrace all these different kinds of technology, have a much lower carbon footprint, and continue to innovate. And so that’s what really drove my interest in kind of the energy renewable energy sector in general. When I went to work for the president, I had the opportunity to really mix incredibly conventional energy, right? The vast amount of my portfolio was oil and gas as well as renewable energy offshore. Abigail Ross Hopper: So lots of offshore, wind, wave, and title work. And then when this opportunity came up, it kind of combined a bunch of my loves, right? The love of state politics. I come from working for a governor. I love how state legislatures work. I worked for a commission. I like the regulatory aspect so that was pretty exciting to work and have a role in state policy, combined my knowledge and my passion for federal policy. As you know, you can really impact so much when you work at the federal level. Jon Powers: Absolutely. Abigail Ross Hopper: As well as this, what really drew me to solar was the entrepreneurial spirit. I mean, I am amazed by the companies that I get to work with, the CEOs, I get to engage with, the solar professionals who are always thinking about how to make their product better, faster, smarter, cheaper, and compete like crazy with each other. I just find that exhilarating to be around. Jon Powers: That’s exciting. And I want to talk a little bit about the Solar Energy Industry Association. And full disclosure for listeners, Clean Capital is a member of SEIA. And you recently become, not recently, now for a good while, you’ve been the president CEO of SEIA. Tell listeners a little bit about the background of the Solar Energy Industry Association and then who are the members and what are you trying to achieve? Abigail Ross Hopper: Sure. So some days it feels like a while done and some days it feels like I’m brand new, right? So the Solar Energy Industry Association has been around for over 40 years. We have a great history of advocating at the federal level, certainly and more recently at the state level. We are the voice of the national solar industry. And so we try to speak to legislators, speak to lawmakers, speak to the public about what this technology can do and how it can really transform our economy. And we have about 1000 members in our membership. We’re glad that you and your company are one of them. It’s a real diverse set of companies from manufacturers to developers, to financiers, different utility scale, commercial scale, distributed generation. Abigail Ross Hopper: We have solar thermal as part of our membership. And then kind of all of the industries that support the solar industry, so law firms, banks, engineers, environmental assessment, kind of the whole gamut that makes up the solar world. Jon Powers: Yeah. And they all gather out in Las Vegas, annually at the Solar Power International. Talk a little bit about that conference and what happens when you get all these members together? Abigail Ross Hopper: Wow. Okay. Here’s my moment of disclosure, this will be my first Solar Power International actually. Jon Powers: Outstanding, outstanding. Abigail Ross Hopper: So I have heard that it is an incredibly exciting, incredibly fun, incredibly informative gathering. And so I’m really looking forward to it. I know my dance card is getting awfully full because as you say, you kind of have all the players right there in one place, and so capitalizing on that opportunity to have conversations. Like for example, we have a conversation with our affiliates so from around the country, all gathered in one place in person. So that will be exciting. They’ll be gathering of CEOs of solar companies. They don’t hang out together in large groups all that often. So to have the opportunity to sit down and talk with them about what’s on their mind with sort of geographic grouping. So folks from the Southeast, folks from the Midwest, talk about what’s going on in their areas and then kind of across the categories, right? So sitting down with utility scale developers and talking with them about what’s happening in their world, I think it’ll be a really exciting time to do all that. And I’m definitely looking forward to the fun part too. Jon Powers: Outstanding. I mean, what’s really exciting about, I think the industry as a whole, and I think Solar Power International represents it, is it’s evolving and becoming so large and so strong, there’s actually only a few cities that can host the event now because it’s tens of thousands of people who come together. Abigail Ross Hopper: It’s amazing. I’ve learned a little bit about conference planning since I’ve had this new gig. And I kind of confirm your assessment that there are not that many places that are large enough to hold us. We are definitely a very sought after conference, which is pretty exciting. Jon Powers: So let’s talk a little bit about the evolution of the industry. We’re at a point now where solar project installations are at an all time high. We had enough capacity added last year, 2016, to power over 10 million homes, which is incredible. It’s a 90% increase over 2015. And I think people are shocked to learn that one in every 50 new jobs in the US is part of the solar industry. And we’re seeing now that clean energy and solar in particular has actually had more jobs than many of the fossil fuel industries. But if you flash back just 10 years, this is a completely nascent industry, talk a little bit about for our listeners, help them understand what has driven this growth and where this industry’s headed. Abigail Ross Hopper: Yeah. I mean, you did a great job kind of encapsulating the rapid transformation of the industry over the last 10 years. It has been exciting. And I think there are a couple of reasons why that has happened. One is strong policy, right? So we’ve had some states in particular that have seen the opportunity and the job opportunity, the clean climate opportunity, the clean air opportunity that solar provides and said, you know what? We’re going to go big on our policy. So states like California, New York, Massachusetts, North Carolina, have all embraced that. And so with that great, strong support, strong policy support at the state level, it has allowed lots of innovation. So with deployment comes innovation. And so companies have figured out better ways to install projects, better ways to manufacture their product, more efficient processes. And so costs have continued to come down. Abigail Ross Hopper: I’ve had opportunity and reason to look at how costs have come down so dramatically over the last few months. And so it’s staggering to see that. I think the federal government deserves a fair amount of credit for the rapid expansion of solar that both through the Department of Energy, their funding of SunShot, their funding of R&D and kind of their vision on how to bring solar costs down has been really impactful. I think that what we now finally have is a stable federal tax policy, provides some reliability and consistency so companies can plan. And then decision makers like you were in the Obama administration that brought those things to the forefront and said, hey, we do lots of energy development on public lands. Let’s expand that to solar. And we provide permitting and regulatory certainty for all of our energy sources. Solar needs to be a part of that. And so, there’s lots of credit to go around, but strong policy, rapid deployment, increasing innovation, always drives down price. Jon Powers: Yeah. There seems to be efficiency all across the supply chain, right from the installation side to the financing side. And there’s are jobs being created all along that chain. Can you add some color for our listeners? So what are these type of solar jobs that are being developed? We talk about one in every 50 new jobs in the US is in solar, I think that’s astounding for folks. And what makes these jobs, I think so important and more importantly, so local? Abigail Ross Hopper: It’s a great question. And I agree with you that one of the stories that’s really incumbent on to tell is that story of solar jobs and kind of your neighbors and your community members that are employed in solar. We employ more people than Facebook, Google, and Apple combined, which once people hear that and let that sink in, right. It kind of blows your mind because those we hold up as sort of paradigms of the ultimate American success story. So the solar industry is another example of an American success story for a couple of reasons. One is that 67% of the solar jobs do not require a college education. And so this industry is accessible to all Americans, right? All Americans can participate in this. So the installation jobs are local, right? You cannot outsource getting up on someone’s roof and installing their solar system. Abigail Ross Hopper: You can’t outsource kind of the electronics that have to go into wiring up solar projects. You cannot outsource the large scale deployments. There’s not a way to do that. And so those jobs are local. They stay local. They provide good living wages for families. As we look over the last couple of years, this is not an industry that is sort of concentrated only on the coast or only in blue states or something like that. It is really proliferating across the country. It doesn’t matter if your state is red, blue, or purple. If you have good sunlight and sort of the good economics, you’re going to be able to participate in the solar industry. So there are the vast majority of our states, solar is growing across the country. So it’s a really great story. And I think, we are going to be talking a lot at SPI about diversity in the solar industry. Abigail Ross Hopper: The Solar Foundation has commissioned a study. They’re going to be releasing the results of that at SPI. That really gives us a little bit more color into who are these solar workers, right? We have some high level statistics, 24% of solar workers are women, about I think 9% are veterans. And we know roughly about African American folks and different people of color, but we’re getting more granularity. So understanding kind of where in the value chain women are. Are all the women CEOs like me or are all the women admins? Right? That’s a really important distinction to make. Are they all in the finance field or are they all on top of roofs, right? Are our veterans out there and installing utility scale projects or are they all lawyers? Because once we know that, we can make sure that this industry remains an equitable place for all of our citizens to participate. Jon Powers: Yeah. As a Iraq veteran myself, I’ve always been fascinated by solar ready vets and the whole spectrum, of job opportunities this is providing for those of us who transitioned out of the military. And candidly, for many of us, it was a continuation of our mission. People came back from places like Iraq and Afghanistan passionate about clean energy because we saw firsthand the other side of the spectrum, but that’s a whole different conversation. Abigail Ross Hopper: Whole different podcast, huh? Jon Powers: Yeah. Seriously, seriously. Abigail Ross Hopper: Well, thank you Jon, for your service. Jon Powers: No, I appreciate that. Appreciate that. So one of the things that I really want to get into this conversation and dive deep on is the unfortunate Suniva trade case that’s been developing. And for folks that don’t know. So in the face of this astounding growth of the market, there’s a new trade case that’s been filed with the US International Trade Commission. And it’s unfortunately asking the government to put its thumb on the scale of the solar market in a negative way. And so for those who are not familiar, basically after declaring bankruptcy, Suniva in April of 2017 filed a petition later to be joined by Solar World. Can you give the listeners some background of this case? What are these two firms petitioning for? What’s the sense of the industry around this? Abigail Ross Hopper: Sure. So you were right. In April, Suniva then joined by Solar World filed what’s called a section 201 petition. So that is a petition in which those two petitioners, so I probably refer to them as petitioners, have asked the ITC to impose global trade relief. So they’re saying, you know what? This sector of the manufacturing industry, this cell and module manufacturing, we can’t compete because there are too many imports. And so as a result of that, we need to have sort of an umbrella. Think of it as umbrella over the United States, where no imports can come in, unless they’re at a certain price. Therefore there’d need to be a tariff. So the things they don’t allege, they do not allege that anyone is dumping. They don’t allege anyone has violated our trade laws. They don’t allege that there’s any sort of malfeasance going on. Abigail Ross Hopper: This is really a case in which that the predicate is we can’t compete because there’s just too many imports. And so, SEIA’s position and the position of the vast majority of our members is that this is not an appropriate use of a section 201 petition. That this is, as you said, kind of two companies that really for a variety of reasons having to do with them and the way in which they’ve managed their companies, the markets in which they’ve chosen to participate, and the products that they have put out into the marketplace, those are the reasons why they’re having financial difficulty. And that it is going to be devastating to the US solar market if the relief they’re requesting is granted. Jon Powers: Yeah. Let’s talk about that a little bit. So as someone that’s in financing solar deals, and if you talk to developers out there, we talked earlier on the podcast about how costs have continued to come down. There’s efficiency across the market. Why is that important? Because it brings down the costs per kilowatt hour that we’re asking a customer to pay right. And competing against the status quo grid, it’s important that it continues to drive down, and we’ll see more growth. But once you put a flag in the ground around the panels and drive up those costs, we’re going to see less and less efficiency, and I think cause challenges across the whole market, which I think is frustrating on the finance side, definitely frustrated on the developer side. And as we talked about where those jobs really are, they’re across the whole supply chain, they’re not just in one bucket around manufacturing. So help us understand. So what is SEIAs position of this? What are you hearing from your members across the spectrum? And how do they view this case? Abigail Ross Hopper: So SEIA’s board took a very bold and courageous stand, which I applaud them for, which was, this is we are going to oppose this case. We are going to oppose this case because we do represent solar manufacturing. In fact, there are 38,000 Americans, over 600 companies in this country, engaged in solar manufacturing. They will all be injured if this case goes through. And so, we’re standing up for them. We’re standing up for all those developers, the utility scale developers, the residential developers, the installers, the financiers, and saying, you know what? This is not the right way to go about this. Abigail Ross Hopper: As you said, solar is not competing against solar. Solar is competing against other forms of energy, right? We’re competing against wind and natural gas in most places in the country. And so our per kilowatt hour price is critically important to whether or not people are making a decision to buy wind, to buy solar, or to buy natural gas. I think one of the pretty amazing evolutions of this industry is as our prices have come down, purchases are being made based, not simply on policy, but we’re really the most economically rational choice in a lot of situations. And so this case threatens that status. If we raise the price of solar panels, obviously it’s going to raise the price of solar energy. And we’re not going to be able to compete, and that’s going to be problematic. Jon Powers: Yeah. I mean, a lot of the commercial customers out there are doing this for more than just the sustainability impact, right. They’re doing it for the triple bottom line, and cost is a major component of that. But for folks that aren’t familiar with what a international trade case is, and sort of the process of an international trade case, can you talk a little bit about what that process is and where we are in the process and what the next steps in that process are? Abigail Ross Hopper: Sure. So I would say the easiest way to think about it is in three phases. And at the moment we are in phase one, and we’ll be in phase one until September 22nd. So right now there’s a case pending with the International Trade Commission. And the question they have to answer is whether or not these companies, the petitioners, Suniva and Solar World, have been injured, seriously injured. Excuse me. I am a lawyer. I should get the language right. Seriously injured as a result of imports. And so there’s a hearing that will take place. There’s briefings that will take place. And then the ITC will issue a decision on September 22nd. Yes, there’s been injury as a result of imports. No, there has not. No, there has not, then the case is over. If they decide, if they issue a decision September 22nd, that yes, there has been serious injury as a result of imports, then we go to phase two. Abigail Ross Hopper: And phase two also has a hearing, also has briefing. And the purpose of that phase is the International Trade Commission will come up with a recommendation for a remedy. So if they find there’s been an injury, how do we remedy that situation? And the purpose of the remedy, Jon, is to allow the domestic cell and module manufacturing sector to recover, right, to get back on stable ground and to become healthy. So what do they need in order to make that happen? And they will make a recommendation to the President by November 13th. And then we get to stage three, phase three. I think I call them phases, phase three. And that is when the administration and the President have a decision to make about what, if any remedy to impose. So there’s a variety of options. Abigail Ross Hopper: This is an area in which the administration really has almost unbridled discretion. And they could say, yes, we’re going to accept the recommendation of the International Trade Commission. They could say no. Okay, we accept that you found there was an injury, but we don’t think any remedy is appropriate and not impose any remedy. They could say, no, you suggested X. We think X times two is the appropriate remedy. So it’s really, there’s a variety of options. So a great deal of uncertainty. That decision will need to be made by early January by the President. Jon Powers: So I want to come back to what listeners and SEIA members and others can do to influence those phases and how they can be supportive of the work that the Solar Energy Industry Association’s doing. But I wanted to highlight for folks that aren’t aware in recent… This isn’t an issue that’s been driven by the enviros and liberals and greens. I mean, even in recent weeks, conservative groups, like the Heritage Foundation have come out and joined opposition to Suniva’s position. In your own words, why would conservative groups come out and support the Solar Energy Industry Association position? Abigail Ross Hopper: I’m glad you raised that point. Groups like the Heritage Foundation, ALEC, that does a lot of lobbying and state legislatures, the R Street group, which is a very free trade oriented group, have all come out in opposition. I think the answer’s pretty clear. They’re not coming out in support of SEIA. They’re coming out in opposition of trade protectionism. They’re coming out in opposition of using our trade laws in a way that batters a 23 billion industry in our country. And so I think it is entirely consistent with their sort of their underpinnings of their organizations, where they believe in free and fair trade. They believe in competition. They believe in sort of keeping the government out of sort of the marketplace. And so this case, as you phrased it in the beginning, where two companies are asking the government to put their thumb on this scale in their favor is kind of anathema to those organizations. And so I applaud their courage and there’s kind of their purity and speaking out for this. Jon Powers: And why does their voice matter in this current administration? Abigail Ross Hopper: I think it matters because I think there are some who sometimes continue to see solar energy as either a fringe technology or motivated only by sort of environmental groups, or… Jon Powers: $23 billion fringe technology. Abigail Ross Hopper: Climate change. Exactly. At 23 billion fringe technology that was the largest source of new generation in the United States last year. So the facts are what the facts are. And our job is to make sure that decision makers understand what the facts are. And so having voices, a variety of voices and trusted voices and sort of conservative voices that can really speak in a way that decision makers can hear, I think is incredibly important on this. And so we’re glad that the chorus of voices is broad and fairly loud on this issue. Jon Powers: So with that in mind, if folks wanted to add their voice. So is there a specific website that folks can go to learn more about these actions and these facts? Abigail Ross Hopper: Absolutely. We would welcome anyone, any company, any individual to join us in our advocacy efforts. And the best way to find out that information and kind of get added to those mailing lists is on our website, which is SEIA.org/trade. Trade as in international trade. And that’s where you’ll find information and can register your company or register yourself as an individual to stay abreast of what’s happening. There’s also another coalition that has been formed, the Energy Trade Action Coalition. So if you Google that, you will find that website. That is a broad group of companies, organizations, other trade associations, who all understand kind of the threat that this case poses, and there’s opportunities to advocate within that coalition as well. Jon Powers: Outstanding. So we’ll also amplify those on our podcast site so folks can find them. And I’m going to end, Abby, with a pretty different direction question for you. And I sort of ask this at the end of all of my interviews for folks. But if you could go back to yourself when you were graduating high school or even graduating college, and could sit down and have coffee with yourself and give one piece of advice, what would that piece of advice be? Abigail Ross Hopper: That’s a really interesting question. I think the piece of advice I would have is that I found myself in the energy space and in this kind of job, it was a total surprise. It was not what I thought I was going to do when I graduated from high school. It was certainly not what I thought I was going to do when I graduated from college. It wasn’t even what I thought I was going to do when I graduated from law school. But what I did was I followed my passion, and I followed really smart people. And so as long as I kept working for smart people and for leaders that inspired me, it took me on this journey. Jon Powers: That’s amazing. Well, thank you, Abby. Thank you so much for joining us and look forward to being in touch here in the next few months as this trade case continues to move forward but also obviously, as the industry continues to grow. And we hope to have you back on in the future to talk about the continued growth of the solar industry. Thank you. Abigail Ross Hopper: Absolutely. Jon, thank you so much. It was a fun conversation. Jon Powers: Absolutely. Talk to you soon. Abigail Ross Hopper: Bye-bye. Jon Powers: Thank you to Abigail Ross Hopper, the president and CEO of the Solar Energy Industry Association for joining us. It was a really interesting conversation. The industry’s come a long way, but it’s obviously still has some challenges ahead. So I challenge you all to go to SEIA.org SEIA.org/trade you can find out more information about the trade case and keep updated as the continued phases hopefully will end not too long from now. I’d also like to take a second and thank our producers, Emily Connor and Lauren Glickman, and ask you to go to cleancapital.com to our podcast page, and feel free to submit your ideas on folks that we should be interviewing as we continue to explore the intersection of energy, innovation and finance. Thanks so much for joining us here at Experts Only. [/av_textblock] [av_hr class=’invisible’ height=’20’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”] [av_social_share title=’Share this entry’ style=” buttons=” share_facebook=” share_twitter=” share_pinterest=” share_gplus=” share_reddit=” share_linkedin=” share_tumblr=” share_vk=” share_mail=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av_uid=’av-354olk’] [av_hr class=’invisible’ height=’40’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”] [av_button label=’More Podcasts’ link=’page,249′ link_target=” size=’small’ position=’center’ label_display=” icon_select=’no’ icon=’ue800′ font=’entypo-fontello’ color=’theme-color’ custom_bg=’#444444′ custom_font=’#ffffff’ av_uid=’av-jx1x7jx3′ custom_class=” admin_preview_bg=”] [av_hr class=’invisible’ height=’40’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”]
Episode 1: Jon Powers [av_image src=’https://cleancapital.com/wp-content/uploads/2019/03/podcast-image-pageheader2.jpg’ attachment=’4329′ attachment_size=’full’ align=’center’ styling=” hover=” link=’page,249′ target=” caption=” font_size=” appearance=” overlay_opacity=’0.4′ overlay_color=’#000000′ overlay_text_color=’#ffffff’ copyright=” animation=’no-animation’ av_uid=’av-jwwgyb48′ custom_class=” admin_preview_bg=”][/av_image] [av_hr class=’invisible’ height=’20’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jwwgxszg’ custom_class=” admin_preview_bg=”] Episode 1: Jon Powers [/av_textblock] [av_hr class=’invisible’ height=’10’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jwl4lsb2′ custom_class=” admin_preview_bg=”] Join our host Jon Powers for the introductory episode of our ‘Experts Only’ podcast. Jon is a clean energy and national security expert and the co-founder and president of CleanCapital. He leads corporate strategy, operations, investor relations, and marketing for CleanCapital. Prior to CleanCapital, Jon led public sector business development at Bloom Energy, served with the U.S. Army in Iraq, and was appointed Federal Chief Sustainability Officer under President Barack Obama. In each episode following, Jon will explore the intersection of energy, innovation, and finance with experts in the field. Learn from industry leaders about their personal journeys as well as the most pressing problems and promising developments in their respective fields. [/av_textblock] [av_hr class=’invisible’ height=’20’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jwwh5253′ custom_class=” admin_preview_bg=”] Listen now [/av_textblock] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jwl43nfd’ custom_class=” admin_preview_bg=”] [/av_textblock] [av_hr class=’invisible’ height=’20’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”] [av_textblock textblock_styling_align=” textblock_styling=” textblock_styling_gap=” textblock_styling_mobile=” size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” font_color=” color=” id=” custom_class=” template_class=” av_uid=’av-l63t09kq’ sc_version=’1.0′ admin_preview_bg=”] Transcript [/av_textblock] [av_textblock textblock_styling_align=” textblock_styling=” textblock_styling_gap=” textblock_styling_mobile=” size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” font_color=” color=” id=” custom_class=” template_class=” av_uid=’av-l63t5orw’ sc_version=’1.0′ admin_preview_bg=”] 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: Hi, my name’s Jon Powers. I’d like to welcome you to CleanCapital’s Experts Only podcast. I will be your regular host as we explore the intersection of energy, innovation and finance. But why are we doing a podcast? I was down in Texas in 2017 moderating a panel with some industry leaders, one from Bank of America, one from Goldman Sachs, and we were having a very fascinated conversation about where the industry is today and where it’s going. Except at this conference, no one could hear us. We were in a building that had a terrible echo. We were standing between people and their cocktail hour. And all I could think to myself was, man, this is really interesting and I wish I could record it. And that was sort of what triggered the idea. And as someone who listens to podcasts regularly, we recognized that there was a space to really dive into this unique intersection where we can talk to folks about their personal journeys, look at the most interesting pressing and promising developments of the day, and really tackle the space in the energy innovation and finance sectors. Jon Powers: So I got interested in this sector when I was serving as President Obama’s chief sustainability officer and saw technologies that range from new energy efficiency systems, to things like HVACs, to electric vehicles, to new solar systems providing more efficient output. And there was so much happening, it was hard to keep track. So what we wanted to do in this podcast is dive into these different sectors, learn from some of the experts about what’s happening in this space, and really have sort of a conversation about how they got into this space from a personal perspective as well, and learn as leaders in the industry, what advice they can give to others looking to grow in the space. Jon Powers: So we expect this podcast to come out weekly or biweekly. We will be probably about a 30-minute episode. And what we are really hoping to do is help to educate folks that are not just experts in the industry, but folks that really want to get and learn about this space as well. Jon Powers: So why should you subscribe? I think we’re going to bring a unique voice to the conversation that’s needed to really help drive clean energy forward. We’re really excited about some of these first episodes we’ve already got under our belt, and look forward to continuing the conversations. Jon Powers: You can learn more by visiting CleanCapital.com and the Experts Only podcast link. You can also give us advice on who we should be interviewing. Follow us on Twitter, and we’ll be making sure to promote each and every episode as we’re putting them forward. Jon Powers: I ask if you like the show, please rate us on iTunes. And we look forward to continuing the conversation with you as we explore this really exciting space and this really exciting time of the market. Thank you. And we look forward furthering the conversation. [/av_textblock] [av_hr class=’invisible’ height=’20’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-2f6m6t’ custom_class=” admin_preview_bg=”] [av_social_share title=’Share this entry’ style=” buttons=” share_facebook=” share_twitter=” share_pinterest=” share_gplus=” share_reddit=” share_linkedin=” share_tumblr=” share_vk=” share_mail=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av_uid=’av-354olk’] [av_hr class=’invisible’ height=’40’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”] [av_button label=’More Podcasts’ link=’page,249′ link_target=” size=’small’ position=’center’ label_display=” icon_select=’no’ icon=’ue800′ font=’entypo-fontello’ color=’theme-color’ custom_bg=’#444444′ custom_font=’#ffffff’ av_uid=’av-jx1x7jx3′ custom_class=” admin_preview_bg=”] [av_hr class=’invisible’ height=’40’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jwwgzkyu’ custom_class=” admin_preview_bg=”]