SMP 43: 2019 Energy Storage Trends
Episode Summary
In this episode, Benoy and Li talk about energy storage and how it’s a huge game changer. They go into the many benefits and trends in energy storage. They also discuss legislation to keep the Investment Tax Credit at 30%.
Benoy Thanjan
Benoy Thanjan is the Founder and CEO of Reneu Energy, as well as an advisor for several solar startup companies. Reneu Energy is a premier international solar energy consulting firm and developer, and the company focuses on develo...
SMP 43: 2019 Energy Storage Trends
Episode Summary
In this episode, Benoy and Li talk about energy storage and how it’s a huge game changer. They go into the many benefits and trends in energy storage. They also discuss legislation to keep the Investment Tax Credit at 30%.
Benoy Thanjan
Benoy Thanjan is the Founder and CEO of Reneu Energy, as well as an advisor for several solar startup companies. Reneu Energy is a premier international solar energy consulting firm and developer, and the company focuses on developing commercial and industrial solar, as well as utility scale solar plus storage projects. The company also sources financing for solar projects and hedges both energy and environmental commodities. Reneu Energy has brokered $27 million in environmental commodity transactions.
Benoy received his first experience in Finance as an intern at D.E. Shaw & Co., which is a global investment firm with 37 billion dollars in investment capital. Before founding Reneu Energy, he was the SREC Trader in the Project Finance Group for SolarCity, which merged with Tesla in 2016. He originated SREC trades with buyers and co-developed their SREC monetization and hedging strategy with the senior management of SolarCity, to move into the east coast markets. Benoy also worked at Vanguard Energy Partners, Ridgewood Renewable Power, and Deloitte & Touche.
Li Wang
Li Wang is a life-long journalist and communications professional. He worked as an intern for the Philadelphia Daily News, during the summer of the O.J. trial, and has since had some fascinating jobs, from being a business reporter, to an arts editor, to a film critic. He has since shifted his focus to digital marketing and creative services, and now his company, MJ Wang Media, develops brand messaging and identity through website design and content marketing.
Insight from this episode:
- Discuss energy storage trends
- Discussion on federal incentives for solar
- Potential Extension of Investment Tax Credit at 30 percent
- How to control your ego
Quotes from the show:
- “So prices are going down, capacity and efficiency is increasing. So has that recent combination of factors, sort of accelerated the advancement of [energy] storage?” - Li Wang Episode #43 “Definitely!” - Benoy Thanjan Episode #43
- “I guess the best way to look at [energy storage] is like landlines and cellphones. You know, you need the infrastructure with the landline, and then basically what energy storage allows is you can be decentralized vs. having a central network and connecting it.” - Benoy Thanjan Episode #43
- “You know we are seeing more blackouts. If anyone was in New York three weeks ago on a Saturday, from midtown to… on the west side, there was a power outage… and you would think ‘wow 2019. How is that kinda still happening?’”- Benoy Thanjan Episode #43
- “Energy storage is a great way to help with bringing energy back into the grid. It’s a lot faster for energy to come from an energy storage unit that having a peak or natural gas plant.” - Benoy Thanjan Episode #43
- “I think one thing that I didn’t realize about the Tesla [electric car] is it’s also performance wise and safety wise so incredible too. You know, one of the features in a crash, it has a lot of capacity to absorb damage… so when I shop for cars, you know I have young kids, so I’m thinking safety. So that hugely impresses me.” – Li Wang Episode #43
- “It’s been exciting actually what happened in the past few days. The House and Senate introduced legislation for a 5-year extension of the solar investment tax credit… you know, please reach out to your representative and lawmakers to pass this critical legislation.” - Benoy Thanjan Episode #43
- “So [energy storage] is huge for, you know, countries that don’t have already electricity infrastructure. You know, particularly in emerging countries, and then obviously in the U.S. we haven’t upgraded the transmission and distribution grid in a long time.” - Benoy Thanjan Episode #43
Resources Mentioned:
Gary Vaynerchuk, Youtube Channel
Featured Book:
Ego Is the Enemy by Ryan Holiday
Featured Quote:
“Since 2005, when ITC was first passed by the Republican led congress and signed into law by President George W. Bush. The ITC has created hundreds of thousands of jobs. Sparked more than $40 billion in pride investment and helped solar grow by more than 10,000 percent.” – Abigail Ross Hopper, CEO of Solar Energy Industry Association
Featured Link:
Benoy spoke about the Energy Storage Midyear Snapshot by Nikola Power
https://nikolapower.com/blog/2019/7/1/energy-storage-midyear-snapshot
Stay Connected:
Benoy Thanjan
info@reneuenergy.com
LinkedIn.com/bthanjan
Facebook: Reneu Energy
www.reneuenergy.com
Li Wang
MJWangMedia.com
Instagram: @liwang22
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