Bill Nussey - Freeing Energy
The times, they are a changing. What worked for so long before we are learning, really didn't work all that well. At least, not without consequences.
This goes for business as well as energy. My guest today is Bill Nussey, a serial entrepreneur that has started, built and sold companies with enough success to allow him to share his resources to make the world a better place.
In Bill's case, he is making the world a better place by studying and sharing his knowledge of the business of renewable energy.
The conversation with Bill was so intriguing since he looks at energy from both a green environmental impact perspective as well as a green cash money view.
We're all green until it costs more money or time, right?
Listen as Bill explains his entrepreneurial journey, including an IPO, and explains the value of intelligently designing and building a renewable energy infrastructure and how it can make economic sense.
Enjoy!
Visit Bill at: https://www.freeingenergy.com/
[00:00:03]
You have found Authentic Business Adventures.
[00:00:05]
A business program that brings you the struggles,
[00:00:07]
stories, and triumphant successes
of business owners across the land.
[00:00:11]
We are locally underwritten
by the Bank of Sun Prairie.
[00:00:13]
Today we are welcoming/
preparing to learn from Bill Nussey,
[00:00:17]
a career tech CEO and author
of Freeing Energy.
[00:00:20]
I got to say Bill has got a Ted Talk,
[00:00:24]
which is cool though I
guess he let me know.
[00:00:26]
It's still outdated and he's just
got a lot of stuff going on.
[00:00:30]
So I'm excited to interview Bill and I
[00:00:32]
guess for the world to get
to know what he's got going on.
[00:00:34]
So Bill, how are things going today?
[00:00:36]
James yeah, I'm excited to be here.
[00:00:39]
I love what you're doing with the show.
[00:00:42]
I shifted my whole career over to clean
[00:00:44]
energy a couple of years ago and honestly
this is probably the biggest week
[00:00:48]
for everyone in that industry
in the last ten years.
[00:00:52]
The government just passed this giant law
that's going to make it one of the best
[00:00:56]
businesses you could possibly
be in for the next 20 years.
[00:00:58]
It's an exciting time for business
people in this space.
[00:01:01]
So I know this much,
[00:01:04]
I guess as far as what that bill includes,
so you are probably way more into it.
[00:01:10]
So can you tell me specifically
what's included in the bill?
[00:01:12]
Just myself and the other listeners?
[00:01:16]
Yeah,
there's all kinds of debates about how we
[00:01:19]
should power our cars,
power our grid and the fact is that we
[00:01:24]
have been powering these for decades,
century really with fossil fuels.
[00:01:28]
It works great.
[00:01:29]
We built an entire one of the greatest
nations on earth with it.
[00:01:34]
People started realizing 34 years ago
that well, the consequences of burning
[00:01:38]
fossil fuels has issues
for the environment and so there's been
[00:01:41]
this giant battle politically
over the last 30 years.
[00:01:44]
What do we do about that?
[00:01:46]
Some people say hey,
it's not that big a deal.
[00:01:47]
Other people say it's destroying
the future and they don't get anywhere.
[00:01:50]
Well someone, amazingly
Congress managed to do something,
[00:01:54]
they shoved it through,
the Democrats did and they passed a law
[00:01:58]
that's going to create huge incentives
for businesses to make investments in this
[00:02:03]
in every area of renewable
and clean energy.
[00:02:06]
And that's the what I love about this is
things that people talk about carbon.
[00:02:11]
Right.
That's really important.
[00:02:12]
I love about it, in addition to that is
that this is going to create
[00:02:16]
millions of jobs all over,
not just in concentrated places where we
[00:02:19]
have oil or where the wind blows
the strongest all over the country.
[00:02:23]
It's going to create thousands,
tens of thousands of new businesses so
[00:02:27]
people that want to take care
of themselves and have their own control,
[00:02:31]
their own future, this is going to make it
easier, faster and more lucrative to get
[00:02:35]
into this industry than
it's ever been before.
[00:02:38]
Nice.
[00:02:40]
The cool thing is this is in my view I'm
[00:02:43]
not a policy expert,
but I sort of live, really.
[00:02:45]
I pretend to be one on podcast.
[00:02:49]
This is a business centric plan.
[00:02:53]
Let's just write checks and give
it to the local government.
[00:02:56]
This is let's get businesses,
[00:02:58]
let's motivate businesses
to get into this business.
[00:03:01]
And they're doing it through the mechanism
[00:03:03]
used almost everywhere
in this is tax breaks.
[00:03:07]
If you build something or you make some
[00:03:09]
energy, you're going to get a tax break
and you could have a big discussion.
[00:03:15]
I've done months of research, talk to
experts on fossil fuels, get tax breaks.
[00:03:20]
Solar gets tax breaks.
[00:03:21]
So we can debate how much.
[00:03:22]
Suffice it to say that if
[00:03:25]
solar and wind got tax breaks of X,
now they're getting three or four X.
[00:03:28]
Interesting.
Okay.
[00:03:30]
And I would say that kind
of equalizes it with fossil fuels.
[00:03:32]
But someone who does this for a living
might argue with my generalization there.
[00:03:38]
But it's a big step and it's going
[00:03:40]
to create tons of business opportunities,
which is what I love.
[00:03:43]
You know, it's interesting.
[00:03:44]
I'm based out of Wisconsin.
[00:03:46]
My wife drives a Prius,
[00:03:48]
and she's going to pay more for her Prius
because it's a hybrid than a person
[00:03:53]
with a non hybrid car has to pay
every year when she renews.
[00:03:58]
Really interesting, honestly, is extra
$50 a year or something like that.
[00:04:04]
And I love to see both
sides of every story.
[00:04:06]
And the answer for that is here
[00:04:07]
in Georgia, where I live, the electric
vehicles, of which I drive one.
[00:04:11]
You pay a larger tax and like, what?
[00:04:13]
How can you charge me more?
We're clean.
[00:04:15]
Well, it turns out that the government
[00:04:17]
actually keeps the highways maintained
by taxing a little bit of gasoline.
[00:04:21]
So if you buy less gasoline or no
gasoline, in the case of an EV,
[00:04:24]
the government doesn't get as much
money to maintain the highways.
[00:04:27]
Interesting.
All right.
[00:04:29]
That's what I love about this is if you
[00:04:31]
dig down on really anything in the world,
but in this case, this energy thing,
[00:04:37]
sometimes it's not as
crazy as it looks.
[00:04:42]
I would counter that a little bit
[00:04:43]
with the Prius because when I drive
that thing, the mileage is not that great,
[00:04:49]
but I put it in power
mode have fun with that thing.
[00:04:51]
As much fun as you can have with the
Prius, which is actually kind of a lot.
[00:04:55]
Yeah, you get fixated
on that little screen.
[00:04:57]
I had a Prius for years and shows you
[00:04:59]
like, what's making the drive train
turn and you're watching this.
[00:05:03]
It's like watching Tetris or something.
[00:05:05]
It's fun.
[00:05:07]
This is the new world.
[00:05:08]
And three years ago, no one
thought they'd drive an EV.
[00:05:12]
And right now no one can get an EV because
they're back order for three months.
[00:05:16]
And it's honestly,
it's about to be a lot worse.
[00:05:18]
Oh, is it?
Really?
[00:05:19]
Interesting.
[00:05:21]
While we're talking about the Congress
[00:05:24]
and all that kind of stuff,
one of the concerns that I have
[00:05:28]
is that if I were to start a business
in this, let's just say I start,
[00:05:32]
I don't know, wind farm company
or something like that.
[00:05:34]
I don't know if that's a thing,
but let's just say I do.
[00:05:36]
That it is.
[00:05:37]
And then
Congress changes shifts and they're like,
[00:05:42]
hey, funny story, we're no longer
going to give these incentives.
[00:05:45]
And now my business that was making
bank throwing up windmills everywhere.
[00:05:50]
Now there's less customers
and all this kind of stuff.
[00:05:53]
Now my business doesn't have anything
to fall back on because I feel like
[00:05:56]
there's an ebb and a flow
where people are like.
[00:05:59]
You raw rah environmental stuff and then
[00:06:01]
the next group of rulemakers
come in and say.
[00:06:06]
Nah.
We like the way it was before.
[00:06:09]
I hear you.
It's like a pendulum, right?
[00:06:12]
The cynical view is that the United States
[00:06:14]
can't make policy past the next
presidential election cycle.
[00:06:20]
And we have been in a whipsaw.
[00:06:22]
And I'd say there's a pretty good chance,
I mean, who knows,
[00:06:24]
you probably follow this up closer than
me, but there's a pretty good chance we
[00:06:27]
will swing the other way
in the next two or three years.
[00:06:31]
But here's the thing.
[00:06:33]
One of the reasons I like this new law
[00:06:36]
is the number of people,
regardless of how they vote,
[00:06:41]
that are going to get upset if you take
money out of their pocket is pretty large.
[00:06:48]
The original grandfather of all these laws
was something called investment tax
[00:06:52]
Credit, which was put
out under George Bush.
[00:06:54]
Okay, this is back when Republicans
...