Solar & Wind
5.4 GW solar PV capacity in C&I sector installed of 1,400 GW potential. C&I solar PV cost $0.06 - $0.15/kWh, C&I rates $0.08-0.16/kWh.
Intersect Power 150 MW solar PV project located in Texas PPA with Austin Energy.
VT RFP for generation awards solar PV 8-10 c/kWh.
Dominion 71.4 MW Solvay Solar PV project located in SC. PPA with SCE&G.
ID PURPA rates set at $0.57/MWh almost 80% lower than in previous years of $3.06/MWh.
Pattern Energy 181 MW Panhandle Wind equity stake sale to PSPIB for $58.5 MM.
SunEdison bankruptcy as precedent for future transactions. 130 potential bidders. Brookfield transaction 5 months from bid. At least another 2 yieldcos in market.
Duke expects 700 MW solar PV in FL over 4 years. 6th power project represents 10 MW, 70 acres. Plans to begin operating 75 MW project located on 550 acres.
US solar power market is expected to fall 22% on an annual basis in 2017 and again in 2018 before rebounding in 2019. Projects in CA, MA, and NY rushed online to qualify for time-of-use payments, expiring incentive programs and grandfathering provisions.
Brookfield acquires Westinghouse for $4.6 BN.
ReEnergy 22 MW Lyondale wood-fired biomass power project located in NY might close if no state subsidy. Considering a wood-to-oil facility.
Japan expects to restart nuclear reactors sufficient to provide 20% power by 2030. 50 projects were providing 30% of power, currently 2%. 14 will be decommissioned.
NRG and Cummins EaaS CHP projects for C&I customers. Propose up to 15% energy savings. Market and maintain energy assets to guarantee outcomes.
RFS promotion of biofuels by awarding RECs proposed as a potential future for biomass.
Energy storage for renewables integration to be $23B by 2026. Asia Pacific is expected to lead all regions with annual installed power capacity of 11 GW in 2026.
Oil & Gas
60x surge in natural gas prices as a result of pipeline constraints. Power prices rise to the highest level in 4 years.
Oil prices make a 24 month high @ $60/bbl, Brent $67/bbl. JPMorgan forecasts Brent $47/bbl in 2018. 2017 saw the smallest amount found since the 1940s.
MA C-PACE program rules delayed. Dominion acquires SCANA for $14.6 BN. BP sees an opportunity in energy for blockchain technology. Reliability will be a key issue in the debate over which resources are best for US long-term energy strategy. REITs qualify for tax credits if equipment installed services tenants and is in place for some time. Ormat 24 MW Tungsten Mountain geothermal power project located in CA sells power to SCPPA. Access to capital largest challenge for indoor farms. Indoor farm cost/square foot is $37.10 while hydroponic operations cost $13.86. 5 New England states in Top 10 for energy efficiency goals, led by MA. Market expects an up to 75% increase in M&A activity in 2018. Retail as a Service. Integrates Wi-Fi, POS and media streams. Projects secure contracts for sale of energy in capacity markets and energy hedging. Lack of PPAs. NY clean energy goals:
(1) $200 MM from NY Green Bank for investment in energy storage of 1,500 MW by 2025.
(2) Close all coal-fired power plants.
(3) 2.4 GW Offshore Wind by 2030.
(4) 50% of the state's electricity needs from renewable energy sources by 2030.
(5) $5 BN Clean Energy Fund.