Clean Energy Future by Arno Harris

TXU: Through the Looking Glass

We're officially through the looking glass at this point. It seems like every day brings a new story tracking the rise of all things green and clean. It's gotten to the point where I don't even read them all the way through any more. However, this article blew me away. You may recall that TXU started a furball last November when it announced that it would be pursuing 11 new coal plants to meet forecast demand. In addition to the usual environmental protests, TXU's announcement precipitated shareholder protests, objections from pension fund investors, questions from lenders about the impact of carbon regulation on operating costs, and even the ire of the Benedictine Sisterhood. Well, now it seems the private equity folks over at KKR and TPG are riding to the rescue, proposing to buy out TXU and deliver a pre-brokered solution to its environmental problems--which includes cancelling 8 of the 11 coal plants!

Honestly, if you had a time machine and transported yourself back just 5 years, you would not be able to convince a single soul that this could happen. I don't know what's stranger, a utility losing a major battle over carbon emissions, or private equity firms brokering a peace plan? It's yet another sign that the magnitude and speed of the changes that are going on in energy are just enormous. What's next?

PS: A followup story in the NYTimes today has a "behind the scenes" summary that's a very entertaining read.

Citizenre, We Hardly Knew Ye

I've been planning to write a piece summarizing my concerns about Citizenre. The company has been generating quite a bit of buzz recently with their residential "solar rental" program called ReNU. The program has a number of features that struck me (and many other experienced solar types) as to good to be true. I've grown increasingly convinced that the company was either a multi-level marketing pyramid scam...or just a really naive business plan.

As luck would have it, I don't have to go to the trouble of writing because groSolar's Jeff Wolfe has written a very thorough and insightful piece published on Renewable Energy Access today. In addition to exposing all the unbelievable claims in Citizenre's plans, I think the most important point that Jeff makes is that this sort of thing is really bad for the industry for two reasons: it undermines public trust and confuses the marketplace.

It's worth reading the internal criticism of Dr. Richard George, a former regional sales director for the company. Talk about a blistering insider critique...here's a link to the 63-page powerpoint.

Commonwealth Club Solar Event SAVE THE DATE

This is a heads up on what should be a very interesting and fact-filled solar event at the Commonwealth Club in San Francisco on March 21. I'll be moderating a panel that features some of the Bay Area's solar leaders sharing their thoughts on where the industry is headed.

This will be a great event for anyone who wants to learn more about what's going on in solar--whether they're in the industry, looking to get in, or just curious about solar and/or greentech.

Solar Power Update: California's Moment in the Sun
Commonwealth Club of California March 21, 2007 - 5:30PM
Tickets $8 (available mid-February online at http://www.commonwealthclub.org/)

Panelists:

• David Edwards, Managing Director, ThinkEquity Partners LLC
• Michael Hall, Chief Marketing Officer, Borrego Solar
• Martin Roscheisen, CEO, Nanosolar, Inc.
• JP Ross, Policy Director, Vote Solar
• Arno Harris, CEO, Recurrent Energy, Inc. - Moderator

Topic: While still a small fraction of total energy production, solar power is experiencing explosive global growth. The California Solar Initiative is the biggest solar program in the country and, after Germany, the second largest in the world. Come learn from industry experts about solar power, the many challenges, the huge opportunities, the latest developments, and the substantial benefits, including job creation, environment protection, and energy independence.

I look forward to seeing you there.