In November 2016, the merger of Tesla Motors and SolarCity was given the green light by the companies’ shareholders. The merger, which is more like an acquisition, cost Tesla $2.6 billion dollars and is being watched closely by renewable energy insiders.
In an unrelated merger, the acquisition of Jimmy Choo by Michael Kors was valued at $1.2 billion [1]. As the San Francisco Chronicle reported at the end of July 2017, “Michael Kors has picked out some new shoes to go with its handbags.”
Shoes and Solar – What’s the Connection?
In Breach of Trust, A Laura Paige Murder Mystery, I wrote:
“Cynthia’s fashion sense was in a higher orbit, sporting a collection of Jimmy Choo footwear, Gucci jewelry, Louis Vuitton purses, and Vera Wang outfits. Cynthia would never shop at a Macy’s or Kohl’s; rather, she’d frequent Nordstrom’s, Neiman-Marcus or Saks. Laura thought, She’s just the person I need to talk to.”
After comparing notes with Cynthia Glenn, a medical examiner colleague with a bent for fashion, Laura concluded:
“Cynthia’s suggestion to order a two thousand dollar pair of Jimmy Choos was rejected out of hand by Laura’s fiscally conservative mindset. She’d rather put two thousand dollars toward another cruise vacation.”
As would most folks working in the solar, and the larger field of renewable energy deployments, conclude [2].
In Breach of Trust, A Laura Paige Murder Mystery, I wrote:
“Cynthia’s fashion sense was in a higher orbit, sporting a collection of Jimmy Choo footwear, Gucci jewelry, Louis Vuitton purses, and Vera Wang outfits. Cynthia would never shop at a Macy’s or Kohl’s; rather, she’d frequent Nordstrom’s, Neiman-Marcus or Saks. Laura thought, She’s just the person I need to talk to.”
After comparing notes with Cynthia Glenn, a medical examiner colleague with a bent for fashion, Laura concluded:
“Cynthia’s suggestion to order a two thousand dollar pair of Jimmy Choos was rejected out of hand by Laura’s fiscally conservative mindset. She’d rather put two thousand dollars toward another cruise vacation.”
As would most folks working in the solar, and the larger field of renewable energy deployments, conclude [2].
What About Solar?
Overall, for the first half of 2017, Chris Crowell for Solar Builder magazine, reported, “In [the first half of] 2017 there were a total of 40 merger and acquisition (M&A) transactions . . . There were 11 solar M&A transactions in the second quarter (Q2) compared to 29 solar M&A transactions in the first quarter of the year . . . Of the 11 total transactions in Q2, eight involved solar downstream companies, two involved photovoltaic manufacturers, and one transaction was by a Balance of System (BOS) company.”
The total energy potential of these transactions came in at 10.6 megawatts. At an installed price of about $2 per megawatt, the value of these projects is worth about $22 billion dollars.
Although such solar deals are more frequent and dwarf those made in the fashion industry, just imagine solar installers wearing work boots designed by Jimmy Choo and workbags infused with Michael Kors’ flair.
[1] https://www.cnbc.com/2017/07/25/michael-kors-to-buy-luxury-shoemaker-jimmy-choo.html
[2] Although Laura Paige wouldn’t fork over $2,000 for a pair of UK-made Jimmy Choo shoes, she would spend $20 or so for UK-made Laura Paige nail products, such as nail varnish and its attendant nail polish remover. Above image courtesy R.K. Koslowsky.
Overall, for the first half of 2017, Chris Crowell for Solar Builder magazine, reported, “In [the first half of] 2017 there were a total of 40 merger and acquisition (M&A) transactions . . . There were 11 solar M&A transactions in the second quarter (Q2) compared to 29 solar M&A transactions in the first quarter of the year . . . Of the 11 total transactions in Q2, eight involved solar downstream companies, two involved photovoltaic manufacturers, and one transaction was by a Balance of System (BOS) company.”
The total energy potential of these transactions came in at 10.6 megawatts. At an installed price of about $2 per megawatt, the value of these projects is worth about $22 billion dollars.
Although such solar deals are more frequent and dwarf those made in the fashion industry, just imagine solar installers wearing work boots designed by Jimmy Choo and workbags infused with Michael Kors’ flair.
[1] https://www.cnbc.com/2017/07/25/michael-kors-to-buy-luxury-shoemaker-jimmy-choo.html
[2] Although Laura Paige wouldn’t fork over $2,000 for a pair of UK-made Jimmy Choo shoes, she would spend $20 or so for UK-made Laura Paige nail products, such as nail varnish and its attendant nail polish remover. Above image courtesy R.K. Koslowsky.