Clean Energy’s Tipping Point- Most ‘Tweetable’ Thoughts from the 2016 World Energy Innovation Forum
Last week, an elite group of leading clean energy investors, entrepreneurs, corporate executives, policymakers, and other prominent members of this ecosystem convened in Fremont at the 2016 World Energy Innovation Forum. Held very appropriately at the Tesla Motors Factory, the event produced a plethora of thought-provoking ideas and poignant remarks from the dynamic speakers, making great fodder for social media buzz. Here are a few highlights, but check out #WEIF2016 for all of the great sound bites.
Ira Ehrenpreis, Managing Parter of DBL Partners & World Energy Innovation Forum Chairman
Kicking off the summit, Ehrenpreis emphasized the incredible momentum in clean energy fueled by industry leaders, COP 21 commitments, and the increasingly visible effects of climate change. With over $329 billion invested globally in clean energy, corporate America is clearly on board, not in spite of corporate agendas, but because of them. It just makes business sense.
Elon Musk, CEO of Tesla Motors and SpaceX
Perhaps no other executive has inspired the clean energy revolution more than Elon Musk has. Despite beating all odds and bringing the Roadster, Model S, and Model X to market, Musk explained the challenges of competing against the level of subsidy enjoyed by traditional automakers. Beyond direct incentives given to the oil and gas industry, no one is paying for the ‘cost’ of the carbon emissions released into the atmosphere. In no other industry, can you blatantly pollute without a tax orfine.
Dan Sugar, CEO of NexTracker
A veteran of the energy industry, Dan Sugar demonstrated his firm understanding of grid management dynamics, insisting that while infrastructure modernization is important, IT advances can support the changing energy mix extremely well without having to wait for a complete redesign of the grid. This prompted a spirited discussion with fellow panelist, Pedro Pizzaro. As President of Southern California Edison, Pizzaro is focused on decentralization of utility planning and adopting new technologies to ‘fix’ the grid.
Lyndon Rive, CEO of SolarCity
As the CEO of an energy company, Lyndon Rive says he spends most of his time navigating the policy world—quite a change from his former role at a software company! He is keenly aware that the massive job generation created by the solar industry is key to advancing SolarCity’s policy objectives – let’s remember, solar employs more than 200,000 people in the U.S. Between the economic development benefits and greater demand for choices in energy sources, Rive says momentum is squarely on the side of clean energy.
Beth Comstock, Vice Chair of General Electric
In a moment of ‘girl power,’ Beth Comstock, the first female Vice Chair of GE, and panel moderator, Nancy Pfund (DBL Partners) discussed how Comstock is affecting cultural change (or mixing things up) at the corporate giant, which plays a huge role in the energy industry. Comstock’s view is that long term growth is ‘back in fashion’ and she is very excited by new business lines, such as Current, powered by GE. This digital power service uses advanced technologies to create more intelligent energy environments. In order to ensure Current operates outside the ‘big institution mentality,’ it has a completely different governing structure and compensation model so that its environment fuels innovation.
Janet Napolitano, President of the University of California & Jagdeep Singh Bachher, Chief Investment Officer of the University of California
The University of California has received well-deserved recognition for its Carbon Neutrality Initiative, its participation in the Breakthrough Energy Coalition, and for divesting from coal and tar sands. The last point is no small feat, with over $100 billion under management between its endowment, pension system, and working capital. These accomplishments are due, in large part, to the leadership of Napolitano and Bachher, who demonstrated a unique partnership during their remarks. They view the UC system’s investment portfolio as an opportunity to foster a culture of innovation, citing many breakthrough technologies that began in a UC lab. Bachher strongly believes that scaling energy innovation goes far beyond the VC community and requires the patience of institutional investors. Laser-focused on what the ‘energy mix of tomorrow is,’ he captured the UC perspective best by saying, “being good citizens is not isolated from making good returns for your investors.”