Brief: Florida Residential Solar 2020 and Beyond

Release: Florida Residential Solar Outlook 2020 and Beyond

Attribution:

Goldin Solar LLC

Doral, Florida

GoldinSolar.com

12/17/2019

Contact:

Daren Goldin, CEO

305-469-9790 | [email protected]

Eliot Kersgaard, PR Director

303-304-4659 | [email protected]

Key Themes for FL Residential Solar in 2020:

We are cautiously optimistic about continued growth in residential solar in 2020.
The 4% decrease in the Solar Investment Tax Credit (ITC) puts pressure on the industry to cut costs, buy smarter, mobilize to jobs more efficiently, and manage projects in a more streamlined fashion.
The tariff on solar cell and module imports similarly pressures the industry to cut costs and move manufacturing onto US soil. The tariff will be re-evaluated in February 2020 by the US International Trade Commission.
We do not expect significant changes in Florida on a local regulatory level, although we are paying close attention to conversations on increasing utility’s fixed rates throughout the southeast.
The storage market will continue to grow as the AC-coupled Tesla Powerwall becomes more available and consumers desire more resiliency and grid-independence.
Action to mitigate climate change will be an increased driver of solar adoption, especially in locations such as Florida and California which have acute vulnerability and a cognizant political climate.

Specific Actions Being Taken by Goldin Solar in 2020:

Goldin Solar is pursuing horizontal expansion to areas such as roofing, development, and general contracting in order to diversify revenue streams, leverage our range of expertise, and capitalize on other green building trends. We anticipate beginning construction of our first home this year and will be seeking LEED certification.
We are continuing to foster our manufacturer-direct relationships with companies such as Hanwha and Tesla in order to save money and help drive innovation.
We are engaged in research and development in virtual power plant technologies which will allow for greater mutualism between homeowners and utility companies.

A Message from Goldin Solar CEO Daren Goldin:

“The key directive of the residential solar industry has always been to sell electricity to homeowners at the same price or cheaper than the local utility can provide. In Florida, we have reached a place where going solar can consistently help homeowners save money. Our cash customers can expect to break even after 7 years and our financing customers can expect to save 15-20% each month with $0 down. In 2020, we will face the immediate pressure of keeping these savings intact with the 4% decrease in the federal solar tax credit on January 1. In order to do this, we are working to cut costs, buy smarter, mobilize to jobs more efficiently, and manage projects in a more streamlined fashion.

“At Goldin Solar, we recognize that residential solar is one piece in the big picture of resilient, low-impact, cost-effective and beautiful buildings. We are exploring horizontal expansion within Florida to roofing, general contracting, and development to diversify our revenue streams, leverage our range of expertise, and capitalize on green building trends. We plan to begin development on a new home in Miami for which we will seek LEED certification.

“Communities across the world are waking up to the imminent threat of climate change and pursuing mitigation strategies. We will continue to see municipalities and individuals alike making regulatory and behavioral shifts in order to address climate change. This movement is particularly strong in locations such as Florida and California which have acute vulnerability and a cognizant political climate. In Florida, the City of South Miami has led the way in requiring solar on all new construction and we are optimistic that nearby cities like Miami Beach and Miami will take notice and follow South Miami’s lead.

“We will also continue to see proposed modifications to utility billing structures which may decrease cost effectiveness of solar and damage net metering structures. We hope that regulatory committees will heed the analysis conducted by the US Department of Energy and the Berkley Lab which indicates that increased fixed rate fees are unnecessary. Instead, utilities should evaluate how to add new value to their customers lives. There is tremendous opportunity for utilities, solar providers, and utility customers to work with customers to design the electric grid of the future, one in which utility-scale generation and storage complement distributed generation and storage. Looking beyond 2020, we are excited about research and development on virtual power plants, which will allow greater mutualism between homeowners and utilities, more efficient energy distribution, and integration with transportation networks. The key piece of the virtual power plant puzzle is energy storage technology. We expect to see electric-vehicle manufacturers pursue vehicle-to-grid connection and blockchain technology enabling decentralized energy marketplaces.

“We expect demand for energy storage to continue to grow. The increase in demand for energy storage is being driven by a desire for greater resiliency and grid-independence as threats to our grid systems from climate change become more severe. At Goldin Solar, we have only recently reached a place where we are comfortable offering available energy storage options to our customers. We are excited about the availability of the AC-coupled Tesla Powerwall which allows existing solar customers to acquire energy storage without expensive retrofits.”