An exciting new era of unprecedented growth is underway for the clean energy movement.
The clean energy movement is entering a new era of unprecedented growth and opportunity. Nowhere was that sentiment more apparent than at the 2023 RE+ conference, which brought together more than 40,000 clean energy professionals in Las Vegas Sept. 11-14, 2023. This year’s event drew a record-breaking crowd, which didn’t surprise us at all given the tremendous green energy opportunities we’ve seen in today’s landscape.
We walked away from the conference feeling more inspired than ever about the future of clean energy as the industry continues to expand in exciting new directions. Here are our key takeaways from this year’s conference.
A green energy revolution
The passage of the U.S. Inflation Reduction Act (IRA) has had a profound impact on the U.S. solar and storage industry. According to Solar Energy Industries Association (SEIA) CEO Abigail Ross Hopper, this legislation has the potential to
- Add $565 billion to our economy over the next decade
- Create more than 500,000 jobs
- Meet 250% (200 gigawatts) of the current U.S. demand for solar
- Provide more than 20 million U.S. homes with solar energy if federal goals are reached
In her opening remarks at the conference, Hopper spoke about a new wave of on-shore production capacity that’s driving a strong foundation for renewable energy. She also highlighted the need to establish policies and standards that benefit the industry as well as communities and other key stakeholders. In addition, Hopper insisted that educating both consumers and policymakers about the long-term benefits and challenges of solar will be critical in helping to strengthen the foundation for future generations.
Planning for investment and growth
So how can industry leaders tap into IRA benefits to plan for investments in renewable energy? And what challenges might they face along the way? Here are three key themes that emerged from the conference:
- Solving supply chain challenges - solar and storage manufacturers will need to transform their supply chain strategies in order to keep pace with growing demand.
- Planning for added capacity – a varied approach to adopting new capacity will be critical for success. Many organizations are beginning to invest in green power directly by adding new capacity to the national grid (this is known as the concept of additionality).
- Addressing community impact - companies must be intentional about investment in communities where clean energy generation or storage is located, and they also have a duty to ensure equitable green energy access.
On the heels of the RE+ conference, we’re more excited than ever to help usher in this new era of growth for green energy. The future is looking bright!
Your solar financing partner
Concord is strongly positioned at the center of the residential solar market. We have extensive knowledge and hands-on experience with solar loan servicing, and a fast-growing portfolio of clients in this space. Our flexible solar loan servicing solutions can help you manage complex industry regulations and meet the demands of loan originators, capital providers and their customers.
Financial solutions designed for solar:
- Solar Power Purchase Agreements (PPAs) and leases – Our PPA and lease solutions offer financing flexibility to meet varied homeowner needs.
- UCC lien management - We can handle initial filing, continuations, subordinations and terminations.
- Deferred interest and ITC program financing options - We support flexible financing products with ITC buydowns and re-amortization.
- Contractor and installation escalation management - We provide front-line customer service with configurable workflows.
Contact us today at (866) 493-6393 or bd@concordservicing.com for more information.
