Odd Lots Jigar Shah on the DOE's Role In Accelerating The Energy Transition
Jun 30, 2022
Jigar Shah, Director of the Loan Programs Office at the DOE, previously co-founded Generate Capital and SunEdison. He discusses the urgency of modernizing the frail energy grid while combating high gas prices. Shah elaborates on the innovative pay-as-you-save model for solar financing, which helps businesses adopt renewables. He also highlights the pivotal role of battery storage and hydrogen in the energy transition, advocating for government support to empower entrepreneurs and navigate the complexities of the energy supply chain.
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Early Solar Projects
- Jigar Shah secured contracts with major companies like Whole Foods and Ikea for solar panel installations early in his career.
- Investors initially dismissed the projects due to their smaller scale, as they preferred larger infrastructure projects.
Power Purchase Agreement Innovation
- Jigar Shah developed the Power Purchase Agreement (PPA) for solar installations.
- This model allowed businesses to adopt solar without large upfront costs, overcoming CFO resistance.
Aging Infrastructure Needs Attention
- America's aging energy infrastructure, including 50-year-old coal plants and peaker plants from the 80s and 90s, needs upgrades or replacement.
- Current energy infrastructure investment prioritizes supply-side solutions rather than managing electricity demand.