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Renewable energy tech growth: Interview with Ideal Power CEO Dan Brdar

Published 2024-06-11, 10:02 a/m
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Ideal Power, Inc. is aiming to revolutionize the renewable energy sector. Specializing in power conversion solutions, Ideal Power is known for its Power Packet Switching Architecture (PPSA) and Bi-Directional Power Switch (NYSE:SWCH) (B-TRAN) technologies. These advancements are designed to enhance the efficiency, reliability, and cost-effectiveness of renewable energy systems, making significant strides in energy storage, electric vehicles, and other sustainable applications.

Leading the company is CEO Dan Brdar, a seasoned executive with extensive experience in the power systems and energy industries. Under Brdar's leadership, Ideal Power has made progress in advancing its technologies and expanding its market presence. Brdar previously served as President and CEO of FuelCell Energy.

What Is Net Zero Tech?

Brdar told Investing.com that as more renewable energy sources are added to the U.S. power grid, additional technologies will be key to maintaining a steady flow of energy across the country while ensuring stability and energy security for the power grid.

“While the long-term benefits of renewable energy for the planet are widely known, the vulnerability of renewable sources to weather conditions is also very well known. Thus, while building the infrastructure necessary for zero-carbon electricity across the U.S., significant headway is also being made on storing the excess energy generated during optimal conditions,” he adds.

Brdar believes technologies like Ideal Power’s B-TRAN bidirectional switch, which has applications in a wide range of renewable energy and energy storage solutions, will be key to building out all areas of the infrastructure required for a power grid driven by renewables.

This is because renewable-energy installations utilizing the product are said to generate more usable kilowatt hours of energy than those using conventional switching solutions.

Furthermore, Brdar highlights the need for renewables forecasting, giving the example of IBM (NYSE:IBM)'s Renewables Forecasting Platform, which provides solar and wind forecasts for the day ahead.

IBM's Environmental Intelligence Suite provides additional data and information needed to optimize renewable energy generation and storage. Energy-storage systems must be optimized to provide a consistent supply of energy, and as grid-scale battery technology improves, utility companies will better be able to store electricity for longer periods to help them manage load during times when renewables production is less than optimal.

Growth in Solar Stocks and Beyond

Solar stocks made significant gains during the pandemic, and Brdar noted that many investors were able to capitalize. However, he says there are still opportunities to capitalize on.

He highlights that in 2022, annual renewable-energy generation surpassed coal for the first time in U.S. history. The Solar Industries Association (SEIA) reports that the U.S. added 32.4 gigawatts of new electric-generating capacity last year—a 37% increase from the previous record set in 2021.

Brdar also states that by 2025, the U.S. Department of Energy expects domestic solar energy generation to rise by an impressive 75% from where it stood in 2022.

The Future of Renewable Energy Tech Investment

Overall, Brdar says when assessing the renewable energy tech landscape,, the potential opportunities for investors are much greater now than they were two years ago, acknowledging that it might take a bit of extra work to uncover some of the best investment opportunities.

“It's no secret that the energy transition is requiring a colossal effort requiring a global cooperation of technology companies, regulators and policymakers, governments, and other stakeholders,” he says, pointing to examples of partnerships and collaborations, including Schneider Electric (EPA:SCHN) hosting a series of roundtables, encouraging even more collaborations among some of the world's largest tech firms.

“Although we're still some years and decades away from completing the global energy transition, legislation like the Inflation Reduction Act is going a long way toward helping mobilize the necessary capital,” says Brdar. “Of course, investors who want to participate in funding this transition may sometimes have to dig deep to uncover hidden value plays.”

“Ultimately, investors who know where to look can help support the energy transition while earning attractive returns on their investments,” he adds.

Nasdaq OMX Solar Index

The Ideal Power CEO notes that the Nasdaq OMX Solar Index, which holds 24 solar-related stocks, has skyrocketed from about 1,170 five years ago to about 4,700 in October 2021.

Brdar explains: “In early 2022, the Nasdaq solar index bottomed out at around 2,813, but since the IRA was enacted, it has approached 4,700 as of late May. The good news is that it doesn't look like the investment opportunities in solar will slow down anytime soon.”

Discover more Renewable Energy Stocks

Looking to assess the performance of other net zero tech as part of a diversified portfolio? We have a list of the best renewable energy stocks on our discover page, as well as the top renewable energy ETFs, for investors who prefer diversification baked-in to their strategy.

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