No doubt there's parts that don't get updated, but I could have sworn I've looked at that page in the past and it referenced both the 7 kWh and 10 kWh batteries in the specs.
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No doubt there's parts that don't get updated, but I could have sworn I've looked at that page in the past and it referenced both the 7 kWh and 10 kWh batteries in the specs.
jhm
Well-Known Member
That's based on outdated information. When Tesla unveiled the Powerwall, it was at 2 kW. They got feedback from consumers, and reconfigured it to a higher C rating. Now Tesla Powerwall has the spec at 3.3kW, which on a 7 kWh battery is about 0.5C. If there is demand for it, Tesla could offer a version with even higher C rating, but if you really need to draw more than 5 kW to run your AC or something, you're probably going to want more than 7 kWh of storage. This is why someone may want multiple Powerwalls or additional back up power.
Personally, if I were going off grid in a place like Nevada, I would start with solar, a 7kWh Powerwall, and a cheap 5kW gas/diesel generator. The first year would likely lean heavy on the generator, but I'd learn how much fuel I could save by adding another Powerwall or more panels. So I'd add to the system the next year and prices would be cheaper, and I'd see how much fuel that would save me the next year. Year after year I'd do this until generator use gets cut down to a trivial level, like fewer than 12 hours per year. So the difficult step is the first year off grid. After that everything gets cheaper each year.
Fortunately, the PUC plan phases in over several years. This means that the 17k solar homes in Nevada don't have to go completely offgrid immediately. And that should not be the goal any way. Suppose 10k of these homes simply added 7 kWh of storage each remaining on the grid. This already gives them some protection against the rate plan changes. Collectively this is 70 MWh of storage which can also be aggregated. I think this alone would be enough to get the attention of NV Energy. Any utility would want to have some level of control over that much aggregated storage. This becomes a bargaining chip. It can be used to halt the rate plan changes or to create alternative value streams for solar+battery owners. For example, granting some limited control over aggregated batteries could easily be worth waiving the $40/month solar access fee. If utility doubts this, imagine a scenario where demand peaks with the spot market hitting $500/MWh while those 70 MWh of aggregated batteries are happily charging at $150/MWh retail rates. Yes, indeed the utility is stuck losing $350/MWH charging batteries that really don't need to be charged at that particular point in time. If NV Energy intends to play hardball, they had better see this coming. OTOH, NV Energy could participate in a program that gives them a call option to discharge batteries at say $200/MWh, 20c/kWh, at any time of peak demand. This would allow them to buy local stored power netting a gain of $300/MWh when the spot price goes to $500 while avoiding getting reamed by aggregated storage. So I don't know if NV Energy will play ball or not. My sense is that they are too stubborn and will need to be taught a lesson. But once there is enough storage behind-the-meter, the ball game will change. Worst case for the utilities is massive grid defection. Solar owners may need to be willing to walk away to negotiate a much better deal for all parties.
Seriously the casinos may be missing out on a much better game to be played with NV Energy. Instead of paying hundreds of millions to exit, they could buy 100 MW / 400 MWh of Powerpacks and totally play NV Energy for all they are worth.
TheTalkingMule
Distributed Energy Enthusiast
AAAAAAnnd.....there goes oil. $34 and dropping, down 6+% today.
The Saudi royal family is gonna regret this move when they're run out of town in 3 years, but I guess they had no choice. Desperate times. Take note NV Energy!
The Saudi royal family is gonna regret this move when they're run out of town in 3 years, but I guess they had no choice. Desperate times. Take note NV Energy!
So - can we confidently say that SCTY is now at a bottom? Huge run up in the last couple months against plummeting oil. Is there truly a "low" enough price for Oil to hurt Solar stocks, or is this signaling the true beginning of the end for oil as we know it? Wouldn't more expensive oil in the future just give a higher incentive for solar and renewables across all markets?
I have to say - regardless of socio-political happenings, I'm surprised at the level of strength from SCTY in this environment, regardless of short interest. The fact that it's being shorted so heavily is a little too-good to be true.
Am I taking crazy pills?
jhm
Well-Known Member
Governor Sandoval releases statement on SolarCity layoff announcement - News3LV
CARSON CITY, NV (KSNV News3LV) – Governor Brian Sandoval released the following statement Wednesday after SolarCity announced the company would eliminate jobs in the State of Nevada.
Governor Sandoval says his office was advised by lobbyist Robert List that CEO of SolarCity Lyndon Rive was initiating layoffs of 550 SolarCity employees as a result of the Nevada Public Utilities Commission’s decision regarding rooftop solar and net metering on Christmas Eve.
“As a result, action was taken to deploy the State’s Rapid Response Team to provide affected SolarCity employees with resources to find new employment. The Rapid Response Team stands ready to host a job fair at SolarCity as soon as it is allowed to do so,” said Governor Brian Sandoval.
The Governor also responded to recent statements by Mr. Rive who encouraged the Governor to “do the right thing” with regard to the PUC’s decision.
Governor Sandoval says, ““I attempted to call Mr. Rive on Christmas Eve regarding his layoff of 550 SolarCity employees. Mr. Rive did not answer my call and I was later advised that he was in Mexico and unavailable. I am also unsure what Mr. Rive meant by his statement for me to ‘do the right thing.’ If such a statement suggests that I somehow influence the PUC’s decision Mr. Rive knows, or should know, that such conduct is inappropriate.
“My suggestion is that Mr. Rive respects the process and pursue his legal options which include seeking reconsideration of the order or ultimately judicial review. I have also called for the Nevada Consumer Advocate to engage in the case, which it has done.”
“During my time as Governor, I have signed legislation benefitting the rooftop solar industry and supported an award of $1.2 million in economic development funds to SolarCity for employment and workforce development programs. I also signed legislation in 2015, with the public support of Mr. Rive, which initiated the very process at the PUC that he now disagrees with.”
“I will continue to support the renewable energy industry in Nevada and capitalize on our state’s incredible resources for solar, wind, and geothermal power. I will also respect the process at the PUC provided by law and, most importantly, assist the 550 employees SolarCity has laid off,” concluded Governor Brian Sandoval.
CARSON CITY, NV (KSNV News3LV) – Governor Brian Sandoval released the following statement Wednesday after SolarCity announced the company would eliminate jobs in the State of Nevada.
Governor Sandoval says his office was advised by lobbyist Robert List that CEO of SolarCity Lyndon Rive was initiating layoffs of 550 SolarCity employees as a result of the Nevada Public Utilities Commission’s decision regarding rooftop solar and net metering on Christmas Eve.
“As a result, action was taken to deploy the State’s Rapid Response Team to provide affected SolarCity employees with resources to find new employment. The Rapid Response Team stands ready to host a job fair at SolarCity as soon as it is allowed to do so,” said Governor Brian Sandoval.
The Governor also responded to recent statements by Mr. Rive who encouraged the Governor to “do the right thing” with regard to the PUC’s decision.
Governor Sandoval says, ““I attempted to call Mr. Rive on Christmas Eve regarding his layoff of 550 SolarCity employees. Mr. Rive did not answer my call and I was later advised that he was in Mexico and unavailable. I am also unsure what Mr. Rive meant by his statement for me to ‘do the right thing.’ If such a statement suggests that I somehow influence the PUC’s decision Mr. Rive knows, or should know, that such conduct is inappropriate.
“My suggestion is that Mr. Rive respects the process and pursue his legal options which include seeking reconsideration of the order or ultimately judicial review. I have also called for the Nevada Consumer Advocate to engage in the case, which it has done.”
“During my time as Governor, I have signed legislation benefitting the rooftop solar industry and supported an award of $1.2 million in economic development funds to SolarCity for employment and workforce development programs. I also signed legislation in 2015, with the public support of Mr. Rive, which initiated the very process at the PUC that he now disagrees with.”
“I will continue to support the renewable energy industry in Nevada and capitalize on our state’s incredible resources for solar, wind, and geothermal power. I will also respect the process at the PUC provided by law and, most importantly, assist the 550 employees SolarCity has laid off,” concluded Governor Brian Sandoval.
jhm
Well-Known Member
Sandoval seems to be responding to this press release:
Following Nevada PUC's Decision to Punish Rooftop Solar Customers, SolarCity Forced to Eliminate More than 550 Jobs in Nevada (NASDAQ:SCTY)
Following Nevada PUC's Decision to Punish Rooftop Solar Customers, SolarCity Forced to Eliminate More than 550 Jobs in Nevada (NASDAQ:SCTY)
jhm
Well-Known Member
TheTalkingMule
Distributed Energy Enthusiast
No you are not taking crazy pills. Checking off the ITC extension is a minor negative in my mind because SCTY could have benefited from forced cost cutting and increased marketshare from an industry shakeout, but the positives obviously faaaaaaar outweigh the negatives.
SCTY can be competitive in nearly any state now, at today's cost structure. As a fellow Pennsylvanian you know that solar has barely touched our state because we had Corbett for the last 4 years, but that all changes now. SCTY is up and operating in states like PA and as a critical mass of everyday investors get a first-hand look at the product, the stock will squeeze like crazy. It'll be just like when Tesla started nationwide Model S deliveries in 2013, people drove the car then bought the stock.
TheTalkingMule
Distributed Energy Enthusiast
The wider public is completely misinterpreting this NV situation and it's starting to hurt my brain. Once again I would ask that someone at SCTY put a bit of effort into their PR. They need to get out in front of these thing, not just announce layoffs and expect everyone to connect the dots on their own.
Paracelsus
Active Member
http://lasvegassun.com/news/2016/jan/06/clinton-sanders-and-omalley-draw-a-raucous-crowd-i/
Sanders rallied supporters before the dinner, speaking at the Tropicana, introduced by the co-creator of "The Daily Show" Lizz Winstead and Red Hot Chili Peppers drummer Chad Smith. Sanders took a dig at the PUC’s solar decision, saying that it had “moved in exactly the wrong direction.”
Sanders rallied supporters before the dinner, speaking at the Tropicana, introduced by the co-creator of "The Daily Show" Lizz Winstead and Red Hot Chili Peppers drummer Chad Smith. Sanders took a dig at the PUC’s solar decision, saying that it had “moved in exactly the wrong direction.”
Solarcity is setting up for an anti trust lawsuit. Just listen to the language. Lyndon has specifically chosen his words and actions to build on the SRP(Arizona utiltiy) lawsuit. if Sandavol had any sense, he would not put out anymore public statements. He's really giving Solarcity a lot of ammo in addition to his text messagesto NV energy debacle. As I've outlined before, the legislative hearing Sandavol referenced was absolutely hostile toward Lyndon rive. This should also be another point of evidence in the case as well. Again, their is video evidence of legislators laughing at rooftop solar... This all fits within the hostile environment for competition with NV energy during the "process" of getting to the PUC decision.
lastly, I just have to add, Sandavol also mentioned Solarcity receiving 1.2mln to set up its training center as being "generous" to Solarcity and this shows he supports rooftop solar. Ha, that was an incentive to lure Solarcity to Nevada. Again, this was to entice Solarcity to come to Nevada. Sandavol was asking Solarcity to come to his state to provide jobs. His statement yesterday proved only to show a broken contract. It would be as if he said tesla got a handout of a billion dollars from him and should be happy with the welfare. Let us not forget, these states give incentives to tesla and Solarcity because they want them to bring jobs to their state. Solarcity and tesla could go anywhere. Lyndon was absolutely right by saying this was an anti-business move by Sandavol. The evidence is overwhelming and the legal system will recognize this.
Solarcity is playing its game and setting up anti trust legal case with its current actions.
TheTalkingMule
Distributed Energy Enthusiast
http://www.streetinsider.com/dr/news.php?id=11201153
Solar City wins bid to install 40000 panels for John Hopkins
Solar City wins bid to install 40000 panels for John Hopkins
TheTalkingMule
Distributed Energy Enthusiast
IB rebate rate is now at 18.5%
Collectively, shorts have been smarter than we hoped. Shorting increased when ITC spike happened all the way up to NV announcement coming out. Covering started promptly after the NV news came out and a stock slide accompanied it. Covering continued throughout the time as stock kept sliding, even including today.
I'm afraid we won’t see any short squeeze. Not worth counting on it.
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Doesn't mean that the stock won't go up. Only saying that forced covering by shorts may not happen. They have been very diligent in covering in the dips and slides.
Collectively, shorts have been smarter than we hoped. Shorting increased when ITC spike happened all the way up to NV announcement coming out. Covering started promptly after the NV news came out and a stock slide accompanied it. Covering continued throughout the time as stock kept sliding, even including today.
I'm afraid we won’t see any short squeeze. Not worth counting on it.
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Doesn't mean that the stock won't go up. Only saying that forced covering by shorts may not happen. They have been very diligent in covering in the dips and slides.
TheTalkingMule
Distributed Energy Enthusiast
There hasn't been nearly enough volume for them to cover, has there?
Edit: Elon owns 21M shares. Short interest was 29M shares at year-end. Volume is low ~2M per day. How did these guys buy so much stock while it drifted lower over a couple weeks? Longs wouldn't be selling after the ITC extension.
Edit: Elon owns 21M shares. Short interest was 29M shares at year-end. Volume is low ~2M per day. How did these guys buy so much stock while it drifted lower over a couple weeks? Longs wouldn't be selling after the ITC extension.
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MarkIt data indicates that the short interest currently is at roughly March levels - around 20mil, as opposed to 32mil level that we saw at the peak.
Even at 20mil level, it is pretty high short-interest. Nevertheless it is not high enough to force a squeeze. At aggregate, at these levels, shorts can linger on for a long long time. Similar to how Tesla has high short interest even today (despite a massive squeeze in may 2013).
There is simply no forcing function to squeeze them.
Even at 20mil level, it is pretty high short-interest. Nevertheless it is not high enough to force a squeeze. At aggregate, at these levels, shorts can linger on for a long long time. Similar to how Tesla has high short interest even today (despite a massive squeeze in may 2013).
There is simply no forcing function to squeeze them.
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jhm
Well-Known Member
I don't believe the shorts are done abusing this stock. They have merely retreated to reload.
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