9 Comments

Summary:

The CEO of SunPower Tom Werner said this week that if the U.S. federal government doesn’t renew the investment tax credit (ITC) that provides 30 percent on the investment of solar, the company will be forced to move its business “elsewhere” to make up for that. […]

The CEO of SunPower Tom Werner said this week that if the U.S. federal government doesn’t renew the investment tax credit (ITC) that provides 30 percent on the investment of solar, the company will be forced to move its business “elsewhere” to make up for that. Every company in the solar industry is worrying over this subsidy that is set to expire by the end of the year, but if you’re as big and seemingly global as SunPower, you can make up for a potentially lost subsidy by focusing on markets outside of the U.S.

At the Jefferies 5th Global Clean Tech Conference this morning Werner said “If the ITC doesn’t happen, we can move our business elsewhere and make up for that. Is that a preferred solution? No. Does America lose jobs with that? Yes. But can we as a company hit ’08 and ’09 without the ITC? Yes.” When a solar industry leader says the company could be forced to potentially ignore its own domestic market, that’s a depressing thought for the entire solar ecosystem.

Werner repeated the sentiments earlier this week in an interview with Reuters stating: “We control our own destiny, (and) we’ll be able to enter other new markets rapidly.” He specified that a lost ITC would affect the company’s business and commercial markets more than residential, and said it could easily focus more on Italy, Greece, France and Australia.

SunPower isn’t the only company concerned. Back in January at the Concentrated Solar Power’s U.S. summit in San Francisco the President and CEO of solar thermal company Solel Avi Brenmiller said that if there is no ITC, the company won’t be able to build a planned 553 MW solar project. At the same summit Donna Flynn, Washington Council for Ernst & Young, made a more dire pronouncement for the solar industry: “We need something before July 1st or we’re going to die.”

  1. Companies in the renewables market need to learn to build their businesses without the subsidy. in fact, We need to end these subsidies for all industries. it would be better to focus on providing more research money early in the cycle.

    Share
  2. [...] SunPower isn’t the only company concerned. Back in January at the Concentrated Solar Power’s U.S. summit in San Francisco the President and CEO of solar thermal company Solel Avi Brenmiller said that whether there is no ITC, the company won’t be able to build a planned 553 MW solar project. At the same summit Donna Flynn, Washington Council for Ernst & Young, made a more dire pronouncement for the solar industry: “We need something before July 1st or we’re going to die.” Via earth2tech [...]

    Share
  3. [...] 11 Solar Thermal Companies Powering Up SunPower CEO: No U.S. Solar Incentives? No Solar For You [...]

    Share
  4. How will solar PV power “thousand of homes” when it fails every night at sundown? Don’t they watch the mid-night movie?

    Renewables can generate the energy – just build enough. But they can’t generate the power, so the lights go out when the sun goes down or the wind drops. Look at REISI Wind, and see Germany’s 22,000 MW wind actually delivering as little as 300MW.

    In Europe, energy companies are offering to build carbon-free nuclear that will generate around the clock.

    Share
  5. [...] companies are already making alternate investment decisions based on ITC’s imminent failure. SunPower CEO Tom Werner said at the beginning of the month, “if the ITC doesn’t happen, we can move our business elsewhere and make up for that. [...]

    Share
  6. [...] The CEO of SunPower, one of the largest solar providers in the U.S., threatened to leave the U.S. market should the tax credit not be extended. “If the ITC doesn’t happen, we can move our business elsewhere and make up for that. Is that a preferred solution? No. Does America lose jobs with that? Yes. But can we as a company hit ‘08 and ‘09 without the ITC? Yes.” Source [...]

    Share
  7. [...] We’re not sure what the company’s plans for Solana are if the ITC is not extended (the company already has a contract with Arizona utility APS to buy the clean power). What is becoming clear is that solar companies are starting to realize that they might need a Plan B. Solel CEO Avi Brenmiller has said that his company won’t be able to build a planned 553 MW solar thermal project without the credit. And the CEO of solar panel maker SunPower recently said it would start focusing on markets outside the U.S. if the credit doesn’t survive (check out that full story in SunPower CEO: No U.S. Solar Incentives? No Solar For You). [...]

    Share
  8. [...] As we reported Werner has previously said SunPower will focus on markets outside the U.S. if the ITC isn’t passed (No U.S. Solar Incentives? No Solar For You.) [...]

    Share
  9. [...] to renew the investment tax credit in a timely manner. We’ve heard from utility giants and solar executives that without the ITC the future of large-scale solar is stuck in [...]

    Share

Comments have been disabled for this post