Sunrise brief: Tesla, Fluence, and RES are leading storage system integrators, report says


Today is Groundhog Day, the U.S. and Canadian celebration of solar energy! Legend has it that if a groundhog named Punxsutawney Phil sees his shadow because of abundant solar, then it’s back into his burrow for six more weeks of winter. If clouds trim solar production at his Pennsylvania den, then it will be an early spring. This year’s result: good news for solar producers but bad news for everyone hoping for an early spring. The rodent saw his shadow. Six more weeks of winter!

Energy storage integrators

Analyst firm Guidehouse Insights released a report that examines the strategy and execution of 13 utility-scale energy storage system integrators, and says that Tesla, Fluence, RES, Powin Energy, and Nidec ASI rank as the leading market players.

With cumulative utility-scale energy storage deployment revenue projected to top $188 billion by 2029, the market represents a significant opportunity, the firm said. As the market matures, systems integrators play a key role in ensuring that projects are successfully built and that they become profitable.

“These companies are actively pushing the boundaries of how energy storage is viewed by stakeholders in the industry, and they are working to open new markets,” says Ricardo F. Rodriguez, research analyst with Guidehouse Insights.

According to the report, since 2018, system integrators have shifted from turnkey project development (including systems integration) to a more pure-play systems integrator and operator role.

The market is moving toward specialized system integrators being hired by project developers, the firm said. This shift has occurred as integrators become better at optimizing the value of energy storage across multiple revenue streams using software and controls.

Duke Energy launches EV venture

Duke Energy said it has formed a new wholly owned subsidiary, eTransEnergy, to provide unregulated services to assist school districts, transit services, and companies across the country adopt electric vehicles.

Doug Esamann

“Electrifying vehicles represents an incredible opportunity for our customers and communities to reduce carbon emissions,” said Doug Esamann, executive vice president of energy solutions for Duke Energy.

The company will work with commercial electric original equipment manufacturers to provide customers with access to the vehicle that best meets their needs. More broadly, Duke Energy said it will work with local utilities nationwide to support updates to the energy grid and other infrastructure as needed.

Duke Energy has pledged to convert 100% of its nearly 4,000 light-duty vehicles to electric and 50% of its approximately 6,000 combined fleet of medium-duty, heavy-duty and off-road vehicles to EVs, plug-in hybrids or other zero-carbon alternatives by 2030.

Boralex closes on U.S. acquisitions

Montreal-based Boralex Inc. closed its previously announced acquisition of the controlling interests in a portfolio of seven solar plants in the U.S., for a purchase price of $215.6 millions.

The seven solar plants have a total gross installed capacity of 209 MW. The solar plants are located in California (5), Alabama (1), and Indiana (1), and were commissioned between 2014 and 2017. They all operate under long-term Power Purchase Agreements with the Regents of the University of California, Alabama Power Co., PG&E, Southern California Edison, City of Palo Alto, and Indianapolis Power & Light.

Following the transaction, Boralex’s total installed capacity worldwide stands at 2,455 MW.

Priority acquires Satori

Energy management services and consulting firm Priority Power Management said it has acquired Satori Energy Solutions.

Chicago-based Satori serves more than 55,000 industrial, municipal, and residential clients in 25 states and the District of Columbia, Canada, and Mexico. Satori also has experience energy transition issues, including community solar aggregation and behind-the-meter installations.

“The addition of Satori is consistent with our and our financial partner Ara Partners’ vision to create the leader in climate-conscious power solutions on a national basis,” said John Bick, managing principal at Priority.

David C. Wiers, founder and president of Satori, has joined Priority as a member of the executive management team.

Fourth Wave spins off smart home unit

Fourth Wave Energy will spin off its smart home technology subsidiary, GeoSolar Technologies. Once complete, the transaction will form two separate and independent publicly traded companies.

Under terms of the deal, GST will receive all commercial rights to the GeoSolar Plus technology and patents in exchange for the issuance of approximately four shares of GST common stock for each outstanding common share of Fourth Wave.

The GeoSolar Plus system is designed to reduce energy consumption and associated greenhouse gas emissions in residences and commercial buildings and is comprised of a number of components including solar PV and geothermal.

GST plans to move its headquarters to Colorado where it will work to set up a national sales program to market the GeoSolar Plus system for new and existing homes.

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