Category: Daily News

Sunnova’s Enronish Ending

“’The [Sunnova] summit [last November] was really part of the swindle,’ said Chris Pélissié, chief executive at Senga Solar, which is owed more than $680,000 by Sunnova. ‘None of us dealers knew we were playing chess until it was just too late’…” (below)

Previous posts at MasterResource (below) have chronicled the government-enabled rooftop solar industry, which is now in distress. Bankrupt Sunnova Energy heads the list, with others either bankrupt or struggling.

In the Wall Street Journal article last week, “Sunnova Pushed Sales as Woes Mounted” (July 3, 2025), Alicia McElhaney wrote:

Each year, hundreds of dealers for solar-panel company Sunnova Energy International gather for a summit to celebrate a year’s hard work. But this February, they came to the glitzy Town & Country resort in San Diego looking for answers.

Enron was all glitz. The game was imaging–creating a non-financial reality where political cronies (“pull peddlers,” as Ayn Rand described them in Atlas Shrugged) ruled. “It is of such pennies and smiles that the destruction of your country is made,” bringing to mind the toothy white smile of Sunnova founder and now ex-CEO John Berger.  

But the reality was dire, so (Enron-ex) John Berger spun a tale.

Sunnova was months behind on its payments to dealers, who sell and install its home solar-energy systems and depend on timely reimbursements from the company to recoup upfront costs. Sunnova’s stock was tumbling, and its liquidity had worsened. But on that early February day in San Diego, Sunnova’s then-chief executive assured dealers they would get repaid as long as the dealers kept installing solar projects.

Dealers didn’t know the severity of the company’s financial problems at the time, or that it was already working with bankers to manage its debt burden and fix its rapidly eroding liquidity, several dealers told The Wall Street Journal.

Reality bats last.

Weeks after the gathering, Sunnova warned that it may not be able to operate as a going concern. By June, the company had filed for chapter 11, leaving its 175 dealers collectively owed around $347 million.

“The summit was really part of the swindle,” said Chris Pélissié, chief executive at Senga Solar, which is owed more than $680,000 by Sunnova. Dealers are facing payment challenges beyond Sunnova, with some also waiting to be paid by SunPower and Lumio, both of which filed for bankruptcy in 2024 amid a downturn in the renewables industry….

Berger gave his side of the story:

In bankruptcy court filings, Sunnova said it aims to settle dealer claims to ensure completion of 22,000 ongoing solar projects…. John Berger, Sunnova’s former CEO, separately told the Journal that he explained to dealers at the summit the company retained long-term cash flows for a rainy day. Berger said he told dealers that what Sunnova was facing was more like a hurricane than a rainy day, and that the company planned to use the cash to stabilize the company.

“I understand the frustration, but I consistently engaged with dealers openly and truthfully, even when the
news was difficult,” Berger said.

What was the reserve fund? The $2.92 billion loan guarantee from the U.S. Department of Energy (Project Hestia)? Enron thought it had a billion dollar reserve from accounts receivables from California utilities in the aftermath of the power crisis in that state. It was only a paper asset that byzantine regulation gave and the legal system and politics took away.

Turns out Sunnova would get a $185 million loan from asset KKR in March (good money after bad)? But that money, little doubt, is long gone, feeding into the high-cost structure of an extravagant company (a la Enron).

“Sunnova didn’t respond to these allegations,” the article continues.

Sunnova stopped paying its dealers last November, and some of them stopped routing solar installation financing requests through the company. Val Berechet, co-founder and CEO at Sunsolar, said he is owed some $800,000, but that it could have been worse if he continued to sell his customers Sunnova products.

Berger was fired. He cashed in over the years, making him a rare winner amid thousands of losers. He has a lot of explaining to do. No more sermonizing about “clean” energy (solar is not ecologically blessed) and climate benefits (there are none from Sunnova or the U.S. solar industry on close inspection).

Sunnova wants to blame others for its bubble business model enabled by special government favor (graft, in retrospect). The article ends:

Around the end of March, Sunnova said in a letter to dealers reviewed by the Journal that it “will pursue all available legal remedies to seek damaThe ges for lost business and profits resulting from any intentional violation” of its policy that dealers can’t transfer their solar projects to another company after installation. “None of us dealers knew we were playing chess until it was just too late,” Senga’s Pélissié said.

The post Sunnova’s Enronish Ending appeared first on Master Resource.

via Master Resource

https://ift.tt/lbvRPeQ

July 16, 2025 at 01:16AM

New Study: Africa’s Atlantic Coast Sea Levels Were Still 1 Meter Higher Than Today 2000 Years Ago

From the NoTricksZone

By Kenneth Richard

The narrative that says relative sea level changes are driven by variations in atmospheric CO2 concentrations has taken another hit.

Before relative sea level (RSL) declined to its present position over the last millennium, Africa’s Atlantic coast RSL ranged anywhere from 0.8 to 4 meters higher than today between 5000 and 1700 years ago (Vacchi et al., 2025).

This Mid- to Late-Holocene RSL highstand was “mainly controlled by the deglaciation history” − meltwater contributions from Earth’s ice sheets and glaciers. Because the climate was so much warmer than today at that time, there was significantly less water locked up on land as ice.

The Antarctic Thermal Optimum “simulated melt of the western Antarctic ice sheet until 2.0 ka BP.” Consequently, sea levels were still ≥ 1 meter higher than present during the Roman Warm Period

“Between -15°N and -0°…data indicate RSL reached its maximal elevation above the present sea level in the late Holocene (~2.0 to ~1.7 ka BP).”

Image Source: https://www.nature.com/articles/s41467-025-56721-0


Discover more from Watts Up With That?

Subscribe to get the latest posts sent to your email.

via Watts Up With That?

https://ift.tt/NueBpcs

July 16, 2025 at 12:05AM

Al Jazeera Wrongly Hypes a Climate Connection to Recent European Heatwaves

From ClimateREALISM

By Linnea Lueken

A recent article at Al Jazeera, titled “Wildfire risks as climate change fuels extreme heatwave in Southern Europe,” claims that recent heatwaves in parts of southern Europe are due to climate change, which the publication says is making them more intense, and will inevitably cause more deaths. This is false. Recent heatwaves are not outside of historic norms, and though Al Jazeera correctly identifies the urban heat island effect as a major contributor, they downplay its role in recent trends and the evidence concerning temperature related deaths.

Al Jazeera reports that authorities across several southern European countries have issued heat warnings and fire warnings, “as Southern Europe experiences the summer’s first severe heatwave and as experts link the rising frequency and intensity of soaring temperatures to climate change.”

Countries impacted are: Spain; Portugal, where Al Jazeera says Lisbon is “expected” to see temperatures around 107°F; the Italian island of Sicily, which saw some wildfires over the weekend; and Greece.

Much of the article presents a reasonable discussion of the dangers heatwaves can pose, like increases in the likelihood of wildfire outbreaks and heat stroke. Unfortunately, the author of the post proceeds to make unfounded claims regarding the cause of the summer heat, like that “extreme weather events are becoming increasingly common across Europe’s southern region due to global warming.”

This is false; extreme weather is not becoming more severe or frequent. For example, Lisbon’s predicted high is not unprecedented, in part because the city is prone to being impacted by what is called the “Saharan air layer.” This is the same phenomenon that carries dust all the way across the Atlantic, as well as hot dry air with boosts temperatures. In 2018, Lisbon recorded a high of 111°F, and the all time high for Portugal was 117°F in 2003.

Even these temperature records do need to be taken with a grain of salt, however, because it is not clear where they were recorded, and as Al Jazeera admits, the urban heat island effect can bump temperatures upwards, both daytime and nighttime highs but especially nighttime lows. Satellite data can avoid some of the issues with ground sensors, and record much more modest warming trends than the ground sensors do.

Al Jazeera references a Lancet study they say “predicted that heat-related deaths could more than quadruple by mid-century under current climate policies,” even while admitting that more people die from cold than heat, and that the “the study stressed that rising temperatures will offset the benefits of milder winters, leading to a significant net increase in heat-related mortality.”

These claims together do not make sense. The Lancet study, referenced by Climate Realism in posts herehere, and here, showed that deaths due to cold outnumber heat related deaths by ten to one. The study also found that heat related deaths have increased 0.21 percent since the year 2000, but that the deaths due to cold have declined by more than double that, 0.51 percent. Why Al Jazeera would assume cold deaths would not continue to decline at a higher rate is unsupported by the trends and data. The only thing we know for certain is that the number of temperature related deaths have declined by tens of thousands of victims over the course of the study period. (See figure below)

Al Jazeera added a bunch of unnecessary climate change fearmongering to a post that otherwise reasonably reported on the impact of a recent heatwave in southern Europe. There was no reason for it, other than to try to scare readers into accepting the alarmist narrative that climate change is causing worsening summer weather and a rise in deaths. Even the article’s redeeming points, the truth that the urban heat island effect has a significant impact on temperature records and health and that cold related deaths are declining, were minimized or glossed over to promote unsupported alarming claims about a dramatic regional rise in heatwaves and sharp increases in heat related deaths.

Propaganda like that peddled by Al Jazeera in this article may serve as good click-bait, but  misinforms anyone who reads the piece.


Discover more from Watts Up With That?

Subscribe to get the latest posts sent to your email.

via Watts Up With That?

https://ift.tt/nLEld5e

July 15, 2025 at 08:07PM

“Oil/gas professionals are NOT energy transition experts”… Really?

Guest “You don’t need a weatherman to know which way the wind blows” by David Middleton

“Jul 9, 2025
Journalist Markham Hislop discusses one of his pet peeves: oil and gas professionals, especially engineers, who think because they have expertise in one area of the energy system that they are experts in ALL things energy.

The video is mind-numbing. It’s just a closeup of Journalist Markham Hislop droning on and on about oil & gas professionals not being qualified to discuss the energy transition because they aren’t experts in energy transitions. Guess what Markham? Journalists aren’t experts in anything, with the occasional exception of journalism..

Regarding the energy transition (or lack thereof): You don’t need to be an “energy transition expert” or even an “oil and gas professional”… You just need to know how to download data and use Excel.

Let’s zero in on fossil fuels and renewables:

Figures 1 and 2 are modified versions of graphs I used in this July 4 post: “We hold these truths to be self-evident, that” there is no energy transition! I was inspired to convert quadrillion Btu to something more American by this comment:

Figure 3: D’Oh!
Figure 4: Did you know?

As an oil & gas professional, I don’t know why I never thought to do this before. 100 quadrillion Btu might as well be eleventy gazillion joules under the sea… It’s an unrelatable quantity. Now, 16 billion barrels of oil (or BOE) is something I can wrap my head around!

To the extent that there has been an energy transition, it was from renewables to fossil fuels. It occurred very rapidly from 1860 to 1920.

Here’s the full transcript of the video. I guessed at the paragraph breaks and I did not correct spelling errors or edit out the Uh’s and Um’s:

Today I want to talk about a pet peeve of mine. This has bothered me for years and years and years and that is oil and gas professionals who think and claim to be experts on the energy transition.

Now just because you’ve got ex expertise in the oil and gas industry which is basically uh extracting and transporting molecules to you know uh refineries or to natural gas plants or whatever it is. uh that that somehow that makes you an expert on all things energy. Well, I’m here to that is not the case.

And I’m going to illustrate my point with the dispute that I got into last uh last August with uh some folks who put together a course at the University of Alberta. So, somebody sent me a link to this course and it was on the energy transition and they said, you know, take a look check it out uh because we do a lot of energy transition work and reporting here at uh at Energy Media. So I did and I wrote a column and I said this course absolutely stinks. It’s terrible and the instructor uh who shall go unnamed to protect the guilty is not qualified to do it. And so the reason the ar here’s the argument though.

Uh this course posited that there’s only two ways of looking at the energy system. The one is sort of the oil and gas forever the OPEC view which is you know oil and gas is going to be around forever. or the global south is going to increase uh consumption and whatever new energy sources uh are added like wind and solar uh it’ll be added to not it won’t displace existing uh energy from oil gas and primarily and from coal as well I guess and then the other worldview is climate change which is basically the world is you know the environmental groups climate groups argue this the the world is burning up we need to phase out oil and gas, switch to renewable energy and and uh and do away with it.

So, and so the course basically argued that no, what we really need to do, what the energy transition means is decarbonizing oil and gas, reducing the emissions, eliminating the emissions from the production of oil and gas. Not the consumption, not the the actual combustion say of of gasoline in a internal combustion engine, which is where 80% of the emissions are produced. It’s decarbonizing the production of these of those molecules. And what they’ve what their cardinal sin here and I made this really clear in the column is that there is a third way of looking at the world and that is that uh electricity produced now primarily from a variety of sources uh wind solar hydro nuclear advanced geothermal all sorts of things. Uh and also coal and and natural gas when that’ll be that’ll take years before decades before we get rid of those entirely. But primarily you create electricity and then you have a whole new set of new technologies that turn that energy into work. So instead of an internal combustion engine, you have an electric uh vehicle motor. Uh instead of a gasoline tank, you’ve got a battery. Instead of a gas furnace in your house, you’ve got a a heat pump. Instead of a you know, that sort of thing. And and that’s a completely different way of looking at it. It’s the and in fact if you step outside of North America if you you know we interview experts in Europe and Asia and and that is the dominant way of looking at the energy transition. It’s very much an electrification of the of the global economy on both the supply side.

So you’re you’re you’re increasing the amount of electricity that’s gets produced in the power grid or or you know on your rooftop solar whatever and also adoption of new technologies like electric vehicles like battery storage like heat pumps.

Okay. So that’s those are the I would argue that there are only two real worldviews here. One is continue what the way we we’re going uh just add more energy sources or electricity and electric demand devices technologies will replace the commodities oil, gas and coal and the devices like internal combustion engines that turn that commodity into energy and into work.

Okay. So I wrote the column and the organizers of the course, one of them in particular was outraged, absolutely outraged, tore me a new one on on LinkedIn and said very very rude things and also and this is the key part of this is that complained to by basically by tagging me them in in the the LinkedIn post uh tagged our one of our our funders. We have two and this is one of the large uh foundations in in Canada because they were tagged was public. They felt obligated to check it out. Check out the accusation that I didn’t know, you know, that I had somehow impuged the integrity of this course and of the instructor. So they sent one of their staff, the foundation did sent one of their staff to take the course and they did that, reported back to the board and what did they say? Markham is correct. Markhamm got it absolutely right. That that’s exactly it. In fact, they kind of had a good chuckle over it. And and so here’s my point. I is that these guys, they don’t even know when they’re wrong. And when it’s pointed out to them that they’re wrong, they simply go and don’t listen to you and get all affronted. and and if you see them on social media, if you run into them uh in uh in real life, they’re absolutely sure that they’re correct. It’s Dunning Krueger.

If you’re an oil and gas engineer, for example, what do you know about electricity generation in China and the manufacturing of batteries, electric vehicles, and heat pumps or how efficient they are or what the cost is or how fast if you don’t look at the data, you don’t know. And these guys never look at the data. It’s astonishing to me that so many of them, and I’ll point out Brett Wilson as one example, because he comments all the time on social media, in fact, on my Facebook threads all the time, and he says, “No, you’re wrong.” Well, where’s the data, Brett? Well, he hasn’t got any because all he just It’s the It’s the sure he’s absolutely sure that he’s right even though he’s absolutely wrong. And this goes on on and on and on again. And it’s and so uh I want to make the point here that when you’re reading something or you’re engaged in conversation uh in social media or maybe you’re around the the dinner table, you’re in in Calgary or Edmonton or someplace and you have family that works in the oil industry and they will say with absolute certainty, look, I work in the I work in the energy industry. I know these things. No, they don’t. They absolutely don’t. I I talk to policy makers. I talk to people in the industry. I interview them. I have conversations with them. Uh, you know, sort of off camera. None of them know any of the data. None of them do any of the work and the research to educate themselves on what’s going on outside of North America. It’s quite criminal. And these are the people who are setting Alberta oil and gas policy, energy policy. Some of them are having a tremendous influence at the federal level. and they don’t know. They don’t the the emails I get late at night from people who run oil companies or make policy in Alberta would curl your toes. They are they’re that devoid of of evidence and and and information.

So, if there’s anything you take, there’s one I want to hammer this home over and over and over again, and that is oil and gas professionals aren’t energy transition experts.

Energi Media

If I understood the transcript, he seems to think that oil & gas professionals aren’t energy transition experts because the think we will keep adding new sources of energy on top ot legacy sources. He seems to think that we are replacing fossil fuels with electricity.

Well… Neither Bjorn Lomborg, nor Vaclav Smil are oil and gas professionals and it looks like they disagree with Journalist Markham Hislop …

Figure 6: “All energy (not just electricity) per person in the world, 1800–2100, TPES (total primary energy supply) measured in kWh, denoting natural gas with “gas.” Historical data 1800–2017, SSP2 middle-of-the-road scenario for 2020–2100. 1800–1900 plus traditional biomass data up to 2017 from (Vaclav Smil 2017, 240–41); see also (Fouquet 2009). 1900–1979 from (Benichou 2014Etemad and Luciani 1991), 1971–2017 from (IEA 20182019a), 2020–2100 SSP2 including population from (IIASA 2018Riahi et al., 2017), global population 1800–2017 from (HYDE 2019Roser and Ortiz-Ospina 2019). “Other” includes liquid biofuels, geothermal, solar thermal, modern biofuels, and waste. There are some minor discrepancies from the historical data to scenario data: SSP2 nuclear is inexplicably halved, SSP2 biomass seems to include all modern biofuels and possibly waste, and SSP2 solar is somewhat larger than IEA solar.” Bjorn Lomborg, 2020

Just remember: Life is Good!


Discover more from Watts Up With That?

Subscribe to get the latest posts sent to your email.

via Watts Up With That?

https://ift.tt/vJgPOC5

July 15, 2025 at 04:07PM