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About the Episode:
Despite more capital coming into the solar industry than ever before, healthy unit economics, rising utility rates, and even declining equipment costs, equity and debt instruments are trading at distressed levels, with working capital increasingly scarce. What's causing this disconnect, and how can the industry recover?
John Berger, Founder and CEO of Sunnova, is a veteran in the energy market with over two decades of experience. His company is one of the largest solar installation companies in the world, so it’s safe to say he has a privileged view from inside the industry. In today’s conversation, Berger discusses the pressures facing the solar industry, including regulatory hurdles, rising interest rates, and the perpetual whipsaw of the capital markets. He sheds light on how Sunnova is navigating these headwinds, as well as his thoughts on the path forward for the solar revolution.
John spoke with Nico about:
Why, despite strong solar economics, capital markets are still lagging.
Sunnova’s response to this high-interest rate environment.
The importance and impact of domestic content on the solar supply chain.
Berger's predictions on how the upcoming elections could affect the industry.
This conversation answers a lot of questions about the current state of solar in capital markets, so hit play!
NOTEWORTHY QUOTEs:
“We’re headed towards a revolution, and what I mean by that is the technology is increasingly going to deliver cleaner, less expensive, more reliable power to consumers and the current regulatory structure, yes the utilities are standing in the way, but eventually what ends up happening is the consumers rise up, and they’re also these consumers are called voters, and they get what they want, which is cheaper, more reliable, cleaner power.”
“I think at the end of the day, you know what the IRA is going to look like is Obamacare, which the Republicans scream and yell and hate on it, but at the end of the day, when they’re asked to vote against it, they’re like, well I’m not doing that. It’s too popular for my constituents.”
Thanks again to this week's sponsor, helping keep the podcast FREE to you!
Our Platinum Presenting Sponsor for SunCast is Chint Power Systems America!
CPS America is the #1 supplier of 3-phase string inverters for Commercial & Industrial and Utility-Scale projects with more than 8 gigawatts of inverters installed on 20,000+ sites around the nation!
We are grateful for our GOLD sponsor:
Speed up PV installations for lower LCOE with TrinaTracker and improve overall system value with optimized compatibility using Trina Solar’s industry-leading modules and the TrinaPro utility-scale or C&I Solutions. Please visit https://www.mysuncast.com/trina
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 15 minutes on Nico's calendar and discuss whether having him as Your personal coach might be the right next step.