Currents Podcast – Ep340: Distributed Generation in a Constrained Grid
Norton Rose Fulbright, March 19, 2026
Host: Todd Alexander
Guest: Rich Dobert, CEO of Dispatch Energy

Episode Overview

This episode of Currents delves into the evolving landscape of distributed generation (DG) in an increasingly constrained grid environment. Host Todd Alexander interviews Rich Dobert, CEO of Dispatch Energy, about the growing opportunities, policy shifts, investment landscapes, market and grid challenges, and technological innovations in the distributed solar sector and allied technologies.

Key Discussion Points & Insights

Rich Dobert’s Background & Dispatch Energy’s Focus

• Rich traced his renewables journey, from early days in European feed-in-tariff markets to co-founding C2 Energy Capital (later acquired by EDPR), and now helming Dispatch Energy (00:51).
• Dispatch Energy Focus: Middle-market power infrastructure, specializing in transactions for sub–$100 million project sizes—largely distributed or “middle market” generation, not just traditional small-scale projects (03:00).

Investment Landscape & Tax Credit Environment

• The sub-20 MW commercial and industrial (C&I) solar sector is highlighted as fertile ground, but success hinges more on business execution than on projects alone (04:24).
• Notable Quote:
  “Power at the point of consumption is good for everybody. It’s good for cost savings, it’s good for utilities, customers, resiliency, communities…” – Rich Dobert (05:47)
• Discussed the impact of changing investment tax credits (ITC): while tax policy is in flux (with possible solar ITC reductions), Dobert emphasizes belief in market fundamentals over chasing incentives (06:00–07:38).
• IRA’s legislative impacts are critiqued as both overreaching and reactionary, but Dobert remains optimistic that DG will remain essential (06:51).

Transmission Constraints & Increased Demand

• Transmission congestion and higher project costs challenge the market; programmatic and portfolio approaches are key to controlling transaction costs (07:38–08:38).
• Data centers are a highly visible, capital-attracting segment, but Dispatch does not focus on them, noting opportunities for distributed generation in less-saturated markets (09:17).
• “The solutions really will need to include power at the point of consumption.” – Rich Dobert (09:27)
• Transmission constraints and new federal/state incentives could drive further support and refined public policy for DG solutions (11:44).

Interconnection Delays & Regulator Response

• Interconnection timelines have lengthened dramatically—from 45–60 days in early Rich’s career to 2–4 years now in congested areas (12:37).
• Dobert stresses regulated utilities’ core mission of reliability and good faith efforts to adapt, but recognizes increasing complexity as more projects seek interconnection (12:37–15:09).
• Ongoing advancements—especially AI—may improve grid and interconnection processes, but human capital and long-term perspective remain crucial.

Cost Dynamics & Investor Perspective

• Untenable to expect both low-cost power and aggressive tariffs/FIAC (tariff, forced labor, and other regulatory policies); Dobert calls for balanced, long-term approaches (15:36).
• U.S. “lawyerly” state vs. Chinese “engineering” state compared—both with strengths and weaknesses in deployment speed and process (15:45).

Capital Deployment Strategies

• Dispatch focuses on acquiring platforms with existing assets and strong teams, not just development-stage projects (17:20).
• Key challenge: past DG sector exuberance led to unsustainable business models; successful platforms now require committed, “skin-in-the-game” management (17:49).
• “Excel models will do whatever you want them to do… but if you’re going to be honest about the inputs, there is a fair and good way to continue to make returns here.” – Rich Dobert (19:27)

Technology, Operations, & Financial Innovation

• Storage integration is technically the “obvious” next step for DG but is hampered by warranty, reliability, and commercial complexity (22:17–25:35).
• Dispatch invests heavily in process efficiency and AI to improve scalability and reduce manual reporting, aiming to avoid linear scaling of headcount with project count (22:17–25:07).
• “There’s not a silver bullet… when AI was released there was a desire to make it the ozempic of power…” – Rich Dobert (24:23)

The Role & Future of Storage

• Battery storage (and other types, like fuel cells) offers major potential, but can be a distraction for C&I customers if value is unclear (25:35).
• Storage ITC (Investment Tax Credit) continues to drive sector interest; Dobert references their recent 4 MW fuel cell commissioning, and the new 30% perpetual tax credit for fuel cells as a surprising and positive legislative development (26:54).
• The guest is candid about the original design and impact of the IRA, highlighting it as a significant direct wealth transfer that favored established developers (28:09–29:17).

Misconceptions About Distributed Generation

• For Investors: The belief that “anyone can do it” is misleading—project-level premiums often disappear at the platform/operational level (29:47).
• For Communities: The economic and tax benefits of DG are real and substantial, but too often under-communicated; DG doesn’t harm property values or infrastructure, and creates tangible long-term savings for communities (31:09–33:55).
• “Solar is not lowering your property value… It is creating a benefit for the community… there are projects now… where I’m looking at power prices relative to where they are now, and it’s not a 10% savings, it’s a 40% savings, it’s a 50% savings” – Rich Dobert (33:14)

Notable Quotes & Memorable Moments

• “[Distributed generation] is really about the business that you run around it in terms of expansion… Power at the point of consumption is good for everybody.” – Rich Dobert (05:47)
• “The IRA was not particularly well written and… the reconciliation bill is an overreaction… I don’t necessarily believe [tax credits] are done.” – Rich Dobert (06:51)
• “The transmission constraints are still going to be there no matter what… you’re going to see a lot more thought and sophistication going into that type of policy design.” (11:44)
• “We used to go through interconnection in 45 days, maybe 60 max. Now… two, three, four year timelines.” (13:38)
• “Excel models will do whatever you want them to do… but if you’re going to be honest about the inputs that go in, there is a fair and good way to continue to make returns.” (19:27)
• “There’s not a silver bullet… when AI was released there was a desire to make it the ozempic of power…” (24:23)
• “Solar is not lowering your property value… It is creating a benefit for the community.” (33:14)

Timestamps for Key Segments

• 00:51 – Rich Dobert’s personal and professional journey in DG/renewables
• 03:00 – Dispatch Energy’s focus and market segment
• 04:24 – Fertile ground in DG, tax credit environment shifts
• 07:38 – Transaction costs, portfolio approach, and grid constraints
• 09:17 – Data centers and the broadening definition of DG
• 12:37 – Interconnection delays, regulator/utility response
• 15:36 – Construction and power price dynamics under tariffs and subsidies
• 17:20 – Best capital deployment strategies; “skin in the game” management
• 22:17 – Technology, operational, and financial innovations
• 25:35 – Opportunities and complications for storage
• 29:47 – Investor and community misconceptions on DG value

Concluding Insights

• Distributed generation continues to face—and help solve—major challenges in a world with increasing grid constraints and demand spikes.
• Success in distributed energy isn’t about scale alone, but about operational excellence and aligned, committed management.
• Technology (especially AI and storage integration) is beginning to play a larger role, though the industry remains conservative.
• Legislators and communities often miss the true economic and social impact of DG, which extends beyond clean energy to tangible community benefits.

This episode is essential listening for anyone invested in—or curious about—the present and future practicalities of distributed generation, particularly as grid realities and federal policy evolve.