On behalf of all of us at Savion, thank you for helping to make 2023 a memorable and successful year. We are grateful for the dedication of our Savion team members and the partnership of our customers, vendors, landowners, and project communities.
This year marked the second anniversary of Shell’s acquisition of Savion and was a pivotal time as the company accelerated efforts to become part of an integrated power business.
Looking back at 2023, a few standout moments from the year include:
Team Building:
Internally, Savion continued to grow our talented staff and are rounding out the year with more than 200 employees. In addition, Savion hosted 10 interns this past summer who experienced various potential career paths within the renewable energy industry. Positively influencing the next generation of sustainable energy professionals is critical to the future of the country’s electricity grid.
Exciting Partnerships:
The agreement to purchase 2.6 gigawatts (GWdc) of high-performance, responsibly produced Series 7 thin film solar modules from First Solar underscored our deep commitment to supporting domestic solar supply chain manufacturing.
Indiana Michigan Power (I&M), an operating company of American Electric Power (Nasdaq: AEP), entered into a Power Purchase Agreement (PPA) to receive the total output of renewable solar power from Savion’s Elkhart County Solar Project. Located in Benton Township, Elkhart County Solar Project is projected to be a 100 MWac solar energy generation facility planned for approximately 850 acres in Elkhart County, Indiana.
Shell announces agreement to sell partial ownership stake in Savion’s Madison Fields Solar Project to InfraRed Capital Partners (InfraRed). Through the agreement – expected to be completed by early 2024 – Savion will share 50% ownership of the project with InfraRed and Shell will be the asset manager of the Ohio-based solar facility.
Toyota Invests in Solar:
Toyota entered into a virtual PPA to offtake 100 MW of the electricity generated as part of Savion’s Martin County Solar Project. The project is converting the former Martiki Coal Mine, a brownfield site in Martin County on the border of Kentucky and West Virginia, into a new, clean solar photovoltaic energy facility. Once an active coal mine on the top of a mountain that closed in the 1990s, the Martiki site has clear access to sunlight, making it an ideal location for reclamation and the installation of solar photovoltaic panels for electricity generation.
KC Solar Collaboration:
The City of Kansas City selected the 816 Solar Consortium to begin discussions on the future work of the proposed Westside Solar Array at MCI, a utility-scale solar project near Kansas City International Airport. Savion is honored to have the opportunity to collaborate with the City and the 816 Solar Consortium partners, which include Evergy, Burns & McDonnell, and Herzog.
Harvesting Crops & Sunlight:
We deepened our “roots” in agrivoltaics, partnering with The Ohio State University College of Food, Agricultural, and Environmental Sciences on our “Between the Rows” initiative studying dual land-use practices. Sarah Moser, Savion’s Senior Director of Farm Operations and Agrivoltaics, traversed the globe attending conferences and meeting with researchers to share best practices and experiences from her own farm operations and Savion’s solar project development.
The past year has proved demanding for renewable energy. However, due to the resiliency and unwavering determination of the people and organizations working in this industry, we can celebrate some of the victories:
Growth in the Renewable Energy Industry:
According to the following industry reports, clean energy continued to show a significant growth trajectory and reached some new milestones. Here are a few important highlights:
Solar Energy Industries Association (SEIA) and Wood Mackenzie Power & Renewables – U.S. Solar Market Insight Report Q4 2023:
Utility-scale solar installed just over 4 GWdc in Q3 2023, representing 58% growth over Q3 2022. The report stated that utility-scale solar had already installed nearly as much capacity through the third quarter as all of 2022.
American Clean Power Association (ACP) – Clean Power Quarterly Report 2023 Q3:
As of Q3 2023, it was reported that 83,173 MW of utility-scale solar was operating in the U.S.; with all 50 states and the District of Columbia having at least one operating utility-scale solar project.
Energy storage installations surged 63% in Q3 2023 compared to Q3 2022. The 21,445 MW of capacity in development represents a 50% increase year-over-year. Overall, the pipeline has been increasing by an average of 10% each quarter over the past two years. Also reported in Q3 2023, there was 13,477 MW/38,337 MWh of battery storage operating in the U.S.
U.S. Energy Storage Monitor Q4 2023 – Wood Mackenzie Power & Renewables and American Clean Power Association:
In Q3 2023, the U.S. grid-scale energy storage market added 2,158 MW. This was a 138% increase (quarter over quarter) setting a capacity record for installations. This is predicted to set the stage for a “break-out 2023”.
In the year following the passage of the Inflation Reduction Act (IRA), the U.S. has seen an expansion in domestic solar supply chain manufacturing.
According to the ACP Clean Energy Investing in America fact sheet (August 2023), in the 12 months prior to July 31, 2023, 52 U.S. solar manufacturing facilities (or facility expansions) were announced. If the currently announced manufacturing facilities reach operation, U.S. solar module production could surge to 62 GW.
In November, Renewable Energy World reported that according to the U.S. Energy Information Administration (EIA), the U.S. energy sector is forecasted to experience a 3% decrease in carbon dioxide (CO2) emissions in 2023 over 2022.
Finding Ways to Give Back:
Each year, Savion staff generously donate time and money to local community organizations:
The 2023 Savion donation drive was held for Children’s Mercy Kansas City in December, where staff assembled 128 Happy Kits, purchased “wishlist” items, and directly donated over $5,000.
In addition, in lieu of customer appreciation gifts this holiday season, Savion donated to Ronald McDonald House Charities of Kansas City, Green Works in Kansas City, and Greater Kansas City Friends of Fisher House.
Wishing you a happy, healthy, and bright 2024!