SolarCity (SCTY)

[Jack6591]

SolarCity Statement on Nevada Public Utilities Commission Proposed Decision -- SAN MATEO, Calif., Dec. 21, 2015 /PRNewswire/ --

Tomorrow should prove interesting.

SolarCity CEO Lyndon Rive released the following statement today regarding the Nevada Public Utilities Commission's proposed decision on rooftop solar:

"If the Nevada Public Utilities Commission's proposed decision is accepted tomorrow it will destroy the rooftop solar industry in one of the states with the most sunshine. There is so much wrong with the decision, the only option for the PUC is to reject it. The one beneficiary of this decision would be NV Energy, whose monopoly will have been protected. The people will have lost choice, jobs, and faith in their government.


"The decision would retroactively sabotage the investments Nevadans have already made in solar, even though they were encouraged by their government to make those investments.


"If the PUC approves this proposal, it will force SolarCity to cease sales and installation operations in Nevada. And if SolarCity, which has the lowest cost structure in the industry, is forced to shut down operations, you could estimate that more than 5,000 solar jobs across the industry will be lost as a result of this decision.


"Today's proposed decision is reckless, and I encourage the PUC to reject it tomorrow. Nevada will otherwise become the first state out of 44 with net metering to take a step backward, not forward."

 

[jhm]

$.09 per kWh residential with no peak load pricing, continued courtship of energy hog industries. Perhaps the use of hydro for peaking justifies the lack of pricing incentives like TOU.

You're fortunate. That's a really low rate. Hopefully, there's not a whole lot of coal in the mix.

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SolarCity Statement on Nevada Public Utilities Commission Proposed Decision -- SAN MATEO, Calif., Dec. 21, 2015 /PRNewswire/ --

Tomorrow should prove interesting.

SolarCity CEO Lyndon Rive released the following statement today regarding the Nevada Public Utilities Commission's proposed decision on rooftop solar:

"If the Nevada Public Utilities Commission's proposed decision is accepted tomorrow it will destroy the rooftop solar industry in one of the states with the most sunshine. There is so much wrong with the decision, the only option for the PUC is to reject it. The one beneficiary of this decision would be NV Energy, whose monopoly will have been protected. The people will have lost choice, jobs, and faith in their government.


"The decision would retroactively sabotage the investments Nevadans have already made in solar, even though they were encouraged by their government to make those investments.


"If the PUC approves this proposal, it will force SolarCity to cease sales and installation operations in Nevada. And if SolarCity, which has the lowest cost structure in the industry, is forced to shut down operations, you could estimate that more than 5,000 solar jobs across the industry will be lost as a result of this decision.


"Today's proposed decision is reckless, and I encourage the PUC to reject it tomorrow. Nevada will otherwise become the first state out of 44 with net metering to take a step backward, not forward."

Wow, you can really hear the lament in Lyndon's voice.

 

[Jack6591]

The perfect deal: Jigar Shah on the recent extension of the U.S. Investment Tax Credi

PV Magazine Mobil: The perfect deal: Jigar Shah on the recent extension of the U.S. Investment Tax Credit

Jigar Shah: The scale of what happened in Paris, and what happened in DC this week, with respect to the ITC extension, is truly massive. I think that people have a hard time grappling with it.
This one policy, combined with China and India's efforts, etc., will make solar and wind the dominant electricity technology that will be deployed over the next 10 years - at a trillion dollar scale.

 

[jhm]

PV Magazine Mobil: The perfect deal: Jigar Shah on the recent extension of the U.S. Investment Tax Credit

Jigar Shah: The scale of what happened in Paris, and what happened in DC this week, with respect to the ITC extension, is truly massive. I think that people have a hard time grappling with it.
This one policy, combined with China and India's efforts, etc., will make solar and wind the dominant electricity technology that will be deployed over the next 10 years - at a trillion dollar scale.

Shah says that pensions are on the sideline because they are not taxed and so do not need tax credits. I don't quite get his concern. An ABS seems to be a fine vehicle for pensions.

 

[blakegallagher]

Shah says that pensions are on the sideline because they are not taxed and so do not need tax credits. I don't quite get his concern. An ABS seems to be a fine vehicle for pensions.

He mentioned how cheap money is on the sidelines. It seems to be similar to what was talked about up thread. How the Tax Equity Investors take a pretty large piece of the pie. At some point it will make sense before the tax credit winds down you would hope.

I really hope we get a good result out of Nevada Tomorrow.

 

[SBenson]

That -retroactive sabotage- bit is scary. I wonder who will end up holding the bag in that case. Homeowners or asset backed investors or shareholders? I hope there are not too many installs in Nevada.

 

[doggusfluffy]

Buffetts utility set to win if Nevada solar subsidy scrapped - Chicago Tribune

NV Energy's lobbying on the rooftop solar issue has complicated Buffett's efforts to burnish his company's green credentials. The utility unit at his Berkshire Hathaway Inc., which owns NV Energy, signed on to the Obama administration's climate pledge earlier this year. The company is one of the largest operators of wind and solar power in the country. Already, it has spent more than $15 billion developing renewable energy projects and committed to invest as much again in the years ahead.

 

[blakegallagher]

Didn't I read somewhere that the vote was like at 930 am?

 

[TheTalkingMule]

Thinking about selling my shares and buying more options. 2017's are coming down nicely and should be even cheaper the week after Christmas if there's no spike. Feb16's would be a play on revised guidance, almost can't miss there right?

 

[Foghat]

That -retroactive sabotage- bit is scary. I wonder who will end up holding the bag in that case. Homeowners or asset backed investors or shareholders? I hope there are not too many installs in Nevada.

Im amazed people invest one minute and sell the next. I recommend having patience. The Nevada situation will run its course.

remember, there has never ever been a case where grandfathering been taken away. Never. Ever. This decision would be completely unprecedented and taken to court. It would be immediately over turned.

Ive followed this entire situation and it is purely political and not objective. The state congressional leaders do not like Solarcity. The puc does not like Solarcity. Both are strongly pro NV Energy. I've never seen anything like it, how publicly bias they are as well. You all can see it for yourself on the congressional video recordings on their website.

However, in a court of law, it will be seen.

Fortunately, Solarcity and others are gaining significant power, they will not take this lying down. They are going to fight and win in he end.

so either be invested and have patience, or just sit on the sidelines. It's actually much better for your health this way too.

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Thinking about selling my shares and buying more options. 2017's are coming down nicely and should be even cheaper the week after Christmas if there's no spike. Feb16's would be a play on revised guidance, almost can't miss there right?

I think 2016 guidance is set. My estimation is that we'll get 2017 and maybe 2018 install guidance at q4 conference call. I wouldn't rule out a major proclamation like another million customer goal or storage with every solar install goal.

overall, my feeling is well have to wait till q4 conference call for the new guidance reveals.

Lyndon is talking with senator Schumer in New York today, so we might get a riverbend update soon. Possible expansion of riverbend factory at some point in the relative near future.

 

[jhm]

SunEdison is imploding again, down down 25% today on a documentation request from David Tepper. This seems to be dragging down the entire solar sector and could continue to do so for quite a while.

 

[Foghat]

SunEdison is imploding again, down down 25% today on a documentation request from David Tepper. This seems to be dragging down the entire solar sector and could continue to do so for quite a while.

Be aware of short covering stories put in the media. This would be the time to do it. That spike run up was not healthy for them.

 

[jhm]

That -retroactive sabotage- bit is scary. I wonder who will end up holding the bag in that case. Homeowners or asset backed investors or shareholders? I hope there are not too many installs in Nevada.

I'm not sure what provision a PPA may have for the situation where the feed in tariff is below the PPA rate. Regardless, it is important that SolarCity deals fairly with the customer on this.

Really this situation should not be a surprise. It's happened all over Australia. We simply take the game to the next stage. SolarCity will need to work with customers to optimize utilization of solar power and add batteries. Smart thermostats, smart hot water, heaters, etc. can minimize the amount of solar power exported to the utility, even without a battery. Even if, a utility can get away with setting their own feed in tariff, they run the risk of incurring too much cost and lost revenue by setting the rate too low. They also alienate their customers.

I view this post-NEM world as inevitable. SolarCity must simply adapt and take competition to the next level.

 

[doggusfluffy]

Of all the states to have this battle...Nevada? I'm glad the casino's are lining up with SolarCity but it's best to have these commissions exposed publicly for the shills they are. It's also nice to see Buffet's name attached to the utility in question...I think anyway.

Elon Musk vs Warren Buffet in solar title bout - POLITICO

 

[TheTalkingMule]

The number of total horseshit "news articles" that have popped up in the last week is hilarious. Google really needs to come up with some kind of minimum standard for things that get filtered into the "News" section.

Fortunately for me, this is now just a buying opportunity in an environment with infinitely more future revenue/sales certainty. Hoping shares rebound today or tomorrow so I can offload my shares to buy more options. Is that insane given that I'm working a within a maxed-out zero sum gameplan? This is money I have in an IRA and every dime I've allocated is in SCTY in one form or another at the moment.

I wanted to have 40-50% of my original chunk of cash in shares and the rest in 2017/18 options so that if for some reason the options expire worthless, I'd still eventually turn a total profit on the shares alone. Now that we have so much more certainty I'm inclined to treat my 2017's @$70 and 2018's @$90 as cash in the bank. I'm all about leverage here, so sell the shares later this week and buy some Feb16's to take advantage of the revised longterm guidance on the 4Q earnings announcement plus a bunch more 2017 $70's perhaps?

That's not complete lunacy, right?

 

[doggusfluffy]

SolarCity CEO in Buffalo to hail solar panel tax break extension - Business - The Buffalo News

Now, with the tax credit in place for another five years, the solar industry should be able to further reduce its costs and continue its rapid growth. While solar energy still accounts for less than 1 percent of all electricity generated in the United States, it was the biggest source of all new electric generating capacity installed last year.

“It’s not about a survival mode,” Rive said. “It’s about a transformation.”

 

[jhm]

SolarCity CEO in Buffalo to hail solar panel tax break extension - Business - The Buffalo News

Rive said SolarCity isn’t backing away from its scaled-back growth target, although the pace of its future expansion likely will depend on how much growth its cash flow can support. And that industry growth is likely to be faster now that the tax credit has been extended.

This is important. Rive wants to grow as fast as cash flow will allow. So the 1.25GW for 2016 is still on.

 

[dalalsid]

The nevada thing passed.

 

[Foghat]

This is important. Rive wants to grow as fast as cash flow will allow. So the 1.25GW for 2016 is still on.

Nevada rooftop solar suspended (for now). PUC voted 3-0 for taking grandfathering away from already solar customers as well as only giving whole sale credit for energy put on the grid.

The one thing we have to keep in perspective is Nevada has only 395MWs of rooftop solar installed in the entire state. Solarcity installed that number over the past 2 quarters, so Nevada is a very small market.

But let the chips fall and let's see what happens in the legal area now.

 

[dalalsid]

Nevada rooftop solar suspended (for now). PUC voted 3-0 for taking grandfathering away from already solar customers as well as only giving whole sale credit for energy put on the grid.

The one thing we have to keep in perspective is Nevada has only 395MWs of rooftop solar installed in the entire state. Solarcity installed that number over the past 2 quarters, so Nevada is a very small market.

But let the chips fall and let's see what happens in the legal area now.

I read sunrun is suing.