Solar and Wind
ITC safe harbor provisions: (1) construction begins before 2020, (2) solar energy property is in service before 2024, and (3) continuous progress to completion.
At least 3 types of energy hedge providers, consistent with the past:
PE investment in storagewith 2 goals: (1) integration renewable energy and (2) reduce CO2 emissions.
Energy storage by converting electricity to hydrogen, then to ammonia, and back, expected to be much larger once logistics in place.
Energy storage expected to mirror the expansion that the solar sectortook between 2000 and 2015. Flow batteries discharge for up to 10 hours. < 5% market share.
Utility IRP forward lookingthat includes storage and renewables.
Renewable energy + Storagecan be combined into clean energy portfolios that can provide the same services as power plants, often at net cost savings.
Oil and Gas
Global gas demand growth rate 1.6%. Chinese gas demand is forecast to grow by 60% between 2017 and 2023. Macro events: (1) rising supplies from the US, (2) rising demand in China, and (3) more industrial demand everywhere
225 PE transactions representing $3.8 BN. Moody’s market data highlights. VC funding of food companies $2 BN, $1.6 BN YTD 2018. Indoor agriculture forward purchase agreementsattract debt and equity.