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Energy Affordability and Fit-for-Purpose Capital with Jigar Shah
The S2G Podcast • Ep. 42
Energy Affordability and Fit-for-Purpose Capital with Jigar Shah
Published
When U.S. voters went to the polls in early November 2025, one issue rose above the rest: the cost of keeping the lights on. Candidates promising lower energy bills swept key races, signaling that affordability has become a defining political and economic concern.
But throughout his career spanning entrepreneurship, policy, and finance, Jigar Shah has consistently argued that affordability and efficiency must be at the heart of the energy transition.
While challenges remain, we live in extraordinary times when proven, scalable solutions like solar, batteries, heat pumps, and home weatherization can dramatically improve efficiency and lower costs. In this episode, Jigar and S2G’s Sanjeev Krishnan discuss the discipline and creativity required to build fit-for-purpose capital markets and business models that can unlock/deploy these technologies, making clean energy more affordable and accessible for all.
Key Takeaways
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Jigar argues that the math is straightforward: Use the cheapest tools to maximize the value of assets we have already paid for, while encouraging sensible load growth.
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Proven solutions such as solar, batteries, heat pumps, and weatherization can drive near-term affordability, as Jigar emphasizes. For example, efficiency and heat pumps meaningfully blunted Europe’s gas shock.
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Jigar outlines a three-part approach for grid efficiency: “connect and manage” practices (including curtailment), grid-enhancing technologies and advanced conductors, plus demand flexibility and batteries. He and Sanjeev discuss why governors need to push utilities to act.
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Jigar argues that the sector doesn’t need more speculative funding cycles. It needs financing vehicles that match the cash flows, risks, and timelines of real assets.
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Drawing on his experience from SunEdison to Generate Capital, Jigar emphasizes the importance of pragmatic, disciplined business models and companies that understand their buyers, achieve product – market fit, and pursue realistic exits rather than billion-dollar fantasies.
