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There's a cleaner future ahead for the energy industry. And while only some associated with fossil fuels are ready to embrace solar and wind, there are cracks in the walls separating traditional fuels from alternative energy sources.
It'll take time — which we arguably don't have — to bridge the gaps. But I left the world's leading annual global energy conference earlier this month convinced we can make net zero a reality.
In today's Tactical Tuesday, I discuss my impressions with Meghan Nutting, EVP of Government and Regulatory Affairs at Sunnova Energy, a leading U.S. residential solar and storage services provider; Abigail (Abby) Ross Hopper, president and CEO of the Solar Energy Industries Association (SEIA), the national trade organization for America's solar energy industries; and Claire Broido Johnson, COO of Fermata Energy, a Vehicle-to-Everything (V2X) services provider.
CERAWeek, organized by S&P Global, brings together the world's economic, geopolitical, energy, policy, climate, and corporate leaders. It's held annually in Houston and brings together the world's economic, geopolitical, energy, policy, climate, and corporate leaders to discuss the state of the energy sector.
"Energy is a fundamental part of Texans' world, and it makes sense that CERAWeek is held there because so many headquarters are there," Meghan said. Sunnova is Houston-based, and she said, "it's fascinating to be a renewable or a clean energy company there."
In addition to oil and gas, the coal industry is well represented at CERAWeek. Those people are saying nothing like what we're saying, and they have their talking points about why coal is not going away.
I've never been in a place with such a dichotomy of opinion and position. However, this year, there was more attention on renewable energy sources — from solar and wind to geothermal — and attendees discussed it in the broader energy transition context.
There was even a Clean Energy Commons, where attendees could meet with representatives from the U.S. Department of Energy Loan Programs Office (LPO) and discover new technologies and solutions in rooms hosted by Houston Energy Transition Initiative (HETI), 8 Rivers, Ecopetrol and Mitsubishi Heavy Industries.
It was fantastic: a whole section focused on clean energy — something that would have been anathema even three years ago.
Abby noted, "Virtual power plants are a big part of today's conversation. We need gigawatts of dispatchable capacity. And there are a lot of utilities trying to figure out what that means for them and how they'll make money on that. There will have to be some regulatory policy changes, and there were many regulatory people at CERAWeek as well.
"A lot of them are shaking in their boots saying, 'Oh, my gosh, more electric vehicles are coming online, and that means more electricity demand. How on earth are we going to meet that?"
My advice? The most crucial step is to forget the "us versus them" narrative and build bridges across the energy industry. Some of the speakers at CERAWeek agreed.
Dr. Sultan Al Jaber is a top oil company executive — CEO of the Abu Dhabi National Oil Company (ADNOC) — and will lead international climate talks later this year as COP28 President-Designate.
COP28 refers to the 28th Conference of Parties to the United Nations Framework Convention on Climate Change (UNFCCC), a global meeting where representatives from countries around the world come together to discuss and negotiate action on climate change.
In his conference speech, he noted the world has a problem, explaining that it is imperative to cut emissions by 7% each year and eliminate all releases of the greenhouse gas methane.
"He said we need a major course correction, and failure is not an option," Claire said, referencing that he's spent most of his life in the oil industry.
"Chevron, Shell and everyone else are trying to create solutions. And all of these big fortune 500 companies are realizing, 'wow, [climate change] isn't going to go away with marketing.
"They've known that for years, but now, very clearly, they're making huge statements at places like CERAWeek. The more we, the gritty startups, can do to provide solutions for these big companies, the better it is for us all," Claire added.
Join us for an insightful discussion of the increased visibility of solar, wind and other clean energy sources at the CERAWeek and why there's a new emphasis on the energy transition. You'll get advice on why anyone in the renewable energy industry must attend the event and better understand today's energy transition conversation.
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ABOUT THE HOST OF SUNCAST:
Nico Johnson is the creator and host of SunCast, consistently rated a top solar podcast in the clean energy sector. The content of the show is geared towards listeners looking for insights on where the markets are headed, how to position themselves or their companies, and what today's market leaders do to stay ahead of the pack.
Nico is an Investor, Executive Coach, and 16-year veteran of the solar industry, having led development in the US and Latin America for global companies like Trina Solar and Conergy.
You can connect with Nico Johnson on Twitter, LinkedIn or email.
If you’ve been second-guessing your work decisions or maybe trying to reconsider how you "fit" in the renewable energy industry -> grab 20 minutes on Nico's calendar and discuss whether having him as Your personal coach might be the right next step.