NJ expects 50% renewables by 2030. 150 EV charging stations.
MA SMART program expects 1.6 GW solar and storage. Replaces SRECs.
3 GW of annual deployments of energy storage by 2023.
Energy storage earning ITC when added to existing clean energy.
100% clean energy goals will depend on storage replacing thermal power.
Growth of renewables and storage will marginalize gas-fired generation.
Energy majors investing in C&I renewables and offering solar + storage.
Energy management company for storage and microgrids.
YTD 2018 M&A $3.3 TN highest since 2007. Investor appetite for renewable energy platforms. US $1.5 TN Infrastructure Plan, China “One Belt, One Road", and EU 500 BN Juncker Plan. Boutiques strategy to focus on sell-side advisory as opposed to offering credit. Every time since 1960 the yield curve has inverted, a recession has followed. Many economists believe it will invert next year. Build-transfer opportunities with utilities. China will add US-sized fleet to coal capacity. Energy Desk. Brent oil at 5-year high. Forecast of $80 and $90+. EU hydrogen production facilities for use in trains.
Hybrid storage market is set to “take off”in 2018. US will leadthe trend.
Solar + Storage cheaper than thermal power.
Energy storage funding for innovation of long duration flow batteries and electrolysis of salt water
Energy storage market size for US Data Centers is about $1.3 BN.
US energy prices at a 5-year high. Energy M&A FERC review threshold increased to $10 MM. Replacing 16% of natural gas supply with RNG can achieve GHG reductions equivalent to converting 100% of buildings to electric-only energy by 2030. Investor interest in social impact investing. Capital-as-a-Service for early stage investing. 40 MM EV charging points will be installed by 2030. EIA, BP, and OPEC have revised their future projections for EV sales upward by 5.5x, 2.9x, and 5.5x respectively. Electrolyzer manufacture for hydrogen production. Shell 10MW electrolyser in the EU, JV with Sumitomo targeting Asia and Australia. China 100 hydrogen refueling stations and 5,000 fuel cell vehicles by 2020 rising tenfold by 2025. Toyota plans to raise its fuel cell stack production from 3,000 to 30,000/year.
Onshore wind unsubsidized LCOE range of US$30–60/MWh, solar PV LCOE range US$43–53/MWh and natural gas US$42–78/MWh
Technologieseligible for subsidies in NYSexpanded to include storage.
CA plans 3 GW energy storage by 2026.
C&I microgrid M&A.
New England market attractive for behind the meter solar and microgrids.
PE purchases 4.2x investments for every exit. Improved US economic outlook. US the world's #1 oil producerfor the 1st time since 1973. US expected to invest US$90 TN in infrastructure to 2030. Hydrogen market expected to be $200 BN to 2020. EV fast charging stationsfunding from the DOE expected to market by 2020. Energy forecast to 2050: Less energy, 50% renewables, peak oil 2020's, power production more than 2x.
SBIC as a potential funding sourcefor clean energy businesses.
63 renewable energy deals in 2Q18representing US$12.9 BN.
Expect 10GW solar + 2GW storageto take advantage of high evening power prices.
By 2040 energy will be 48% wind and solar, 50% by 2050.
Cost of solar PV will fall 71%by 2050.
Energy storage grid connection issuessimilar to early stage wind and solar.
Energy storage projects apply for market-based rates.
US in 2017 installed 216.7 MW, 523.9 MWh of energy storageacross 2,588 systems. In total 922.8 MW, 1,293.6 MWh across 5,167 systems.
Grid-connectedenergy storage grew 68% in 2017in the US.
Median time of angel & seed rounds 3 years. Medium seed rounds $2 MM. Pre-seed valuations $3.4 MM. US utility ESG and sustainability reports. Development focus on smaller DG facilitiesas well as energy services. IndoorAg annual sales expected to be $25 BN by 2021, 28% annual growth rate.