From the CEO: Adventures in Renewable Energy

Yesterday, we were disappointed to hear the news that President Trump had approved tariffs on imported solar panels, risking the loss of thousands of clean energy jobs. While this news is not ideal for our industry, the Nikola Power team is confident that this is a mere detour on our path towards a clean energy future.

Before the announcement of these tariffs, we had been following the news from Greentech Media (GTM) which highlighted the advantages of energy storage over natural-gas peaker plants. According to Shayle Kann, a senior advisor to GTM Research and Wood Mackenzie:

“I can’t see a reason why we should ever build a gas peaker again in the U.S. after, say, 2025. If you think about how energy storage starts to take over the world, peaking is kind of your first big market.”

The data is clear — as lithium-ion batteries continue to become more inexpensive, the ability to outperform gas peakers becomes more obvious. Within 10 years, energy storage is expected to always win in head-to-head pricing against peaker plants.

So the renewable energy adventure will continue as we face new hurdles from the anti-solar lobby but have good news on the cost curve of energy storage in the same week — this industry is certainly exciting. The news on battery storage pricing proves that with our business, we are in the right space, at the right time.

Despite today’s solar tariff news, our industry and Nikola Power will continue to pursue the combination of solar plus storage where appropriate. Nikola Power is at the forefront of this growing energy storage industry, creating proprietary technology based on our patented optimization algorithms. Our solutions and services will continue to include solar, which remains a proven, cost effective alternative for many customers in many markets across the country. Coupling solar with storage will allow more communities, customers, and utilities to increase the volume of renewables on their grid and the performance of their battery assets — and we can’t wait to see what lies in the journey ahead. 

– J.W. Postal, Founder & CEO

 

Evan Hung