Too Much Solar

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Too Much Solar Volume 10, Number 3 ● April 2017 Hawaii Tackles How To Handle Too Much Solar Some insight on how grid operators are confronting curtailment. page 16 Solar Policy What if, say, the federal investment tax credit were to disappear? page 20 Supply Chain The copper industry is ready to supply and benefit from the rising solar sector. page 24 a_01_SI_1704.indd 1 3/17/17 9:48 AM _SolarRoofHook_1704.indd 1 3/15/17 12:16 PM ✹ Contents R Features Project Development & Investment 12 12 Navigating A Solar Market Long On Dollars But Short On Projects How can utility-scale and commercial and industrial solar developers find continued success in the maturing U.S. market? Power Curtailment 16 New PPA Model Could Help Hawaii Address Solar Curtailment To reach the state’s 100% renewable energy mandate and balance an abundance of rooftop solar, Hawaiian Electric Co. has begun developing better ways to manage curtailed power, including a new type of power purchase agreement. Solar Policy 20 What If Federal Support For Solar Disappears? 16 Industry experts argue that states would be able to fill a potential policy void left on the federal level. Supply Chain 24 The Rise Of Solar: A Unique Opportunity For Copper The growing solar market will have a strong impact on the demand for copper products, and the copper industry is ready to fill the need. 24 20 ✹ Departments 4 Sun Dial 6 New & Noteworthy 10 Products & Technology 26 Policy Watch 31 Projects & Contracts 34 Sundown APRIL 2017 b Solar Industry 3 b_2_11.26_36_SI_1704.indd 3 3/16/17 3:30 PM ✹SunDial www.solarindustrymag.com A Scenic Drive [email protected] 100 Willenbrock Road, Oxford, CT 06478 Joseph Bebon Toll Free: (800) 325-6745 Phone: (203) 262-4670 s I might’ve mentioned before, I genuinely enjoy going to solar sector trade shows: Fax: (203) 262-4680 Where else do you get to meet so many industry insiders, learn about new and up- coming technology, collect a few cool knickknacks, and, of course, get to network MICHAEL BATES A Publisher & Vice President while (responsibly) sipping on one or two complimentary drinks? What I definitely haven’t mentioned, though, is that I am terrified of flying. [email protected] Statistically, I know there’s a better chance of getting struck by lightning or run over by JOSEPH BEBON a cow or something than being in an airplane accident, but for whatever irrational reason, Editor (203) 262-4670, ext. 221 planes still frighten me. That’s why I was so excited to go to a recent conference in nearby [email protected] Boston. Driving, though statistically more dangerous than flying, is fine by me, especially BETSY LILLIAN when the weather is clear and the music good. Associate Editor As I neared the end of my drive from Connecticut to Boston, I saw a massive rooftop solar array on one side of me and a wind turbine on the other. The awesome sight made me AMANDA FAVA smile - clearly, Massachusetts understands the value of renewable energy, and I could tell this Editorial Assistant was going to be a good trade show. Ultimately, the omen proved true, and on my way home DAWN S. HOWE from the conference, I saw yet another large solar array, this time ground-mounted, located Creative Director adjacent to a rest stop on the highway. A sign indicated the project was part of a Massachu- ANGEL L. HERNÁNDEZ Graphic Artist setts state program. The Bay State has been actively pursuing clean energy leadership for years, and obviously, SANDRA MINCK the effort is paying off. According to the Solar Energy Industries Association (SEIA), Mas- Production Coordinator sachusetts is home to around 15,000 solar jobs and ranks among the top 10 solar states in DAMASE CARON the country, with about 1.5 GW of cumula- Information Systems Manager tive installed capacity as of the end of 2016. The Bay State has CHERYL SAMIDE More recently, I’ve also noticed an uptick in Office Manager been pursuing clean solar announcements coming out of the state, energy leadership. most notably community solar projects. Advertising Sales Massachusetts’ renewable energy success ROB SIMONELLI is due, in large part, to support from state officials, lawmakers and regulators. For example, Account Executive Gov. Charlie Baker has been a vocal solar and energy storage advocate. Although some may [email protected] claim renewable energy is traditionally a “Democrat thing,” as a Republican, Baker dem- (562) 431-1630 onstrates that clean energy isn’t a partisan issue - a finding numerous U.S. polls discovered during the 2016 elections. Last April, Baker signed bipartisan legislation to raise the state’s Z ACKIN net-metering cap, and he declared solar development “will be an integral component of our PUBLICATIONS state’s clean energy future.” The governor’s predecessor, Deval Patrick, was also a major solar PAUL ZACKIN supporter who helped the state meet a solar capacity target four years early. President [email protected] Established by the state legislature, Massachusetts’ renewable portfolio standard has been a big catalyst of clean energy development, as well, and some state lawmakers have Member of even introduced an ambitious bill to increase the mandate to 100% renewables. Then, of course, there’s the state’s Solar Renewable Energy Credit (SREC) program, which had a few issues early on but has been wildly successful overall. Solar groups recently praised the state Department of Energy Resources (DOER) for extending the SREC II program further into Solar Industry (USPS: 025-268 ISSN: 1942- 2017 as the agency irons out details for a long-term replacement of the program. 213X) is published monthly by Zackin Publica- tions, Inc. Advertising, Editorial, Production and Sean Gallagher, vice president of state affairs at SEIA, called the extension “a much- Circulation offices are at 100 Willenbrock Road, needed bridge between the end of the current solar incentive program and the beginning of Oxford, CT 06478; (203) 262-4670. Periodical the new one.” He added, “This action will allow new solar projects to move forward, creating postage paid at Shelton, CT and additional mailing jobs, valuable investment dollars and a well-deserved reputation for Massachusetts as one of offices. Canada Post: Publications Mail Agreement #40612608. Return undeliverable Canadian America’s top solar states.” According to a DOER document, the proposed replacement plan addresses to IMEX Global Solutions, P.O. Box is the result of a multi-stakeholder process and would aim to add another 1.6 GW of solar 25542, London, ON N6C 6B2. Subscription: $48 through a so-called “declining block” program. per year. POSTMASTER: Send address changes to: Solar Industry, 100 Willenbrock Road, Oxford, For the most part, Massachusetts has done what’s necessary to proliferate renewables, and CT 06478. Copyright © 2017 by Zackin Publica- policymakers in many other states across the U.S. would do well to follow down the same tions, Inc. All rights reserved; no reproduction road. S without written permission from the publisher. 4 Solar Industry b APRIL 2017 b_2_11.26_36_SI_1704.indd 4 3/16/17 3:58 PM MVP OF ANY WORKSITE INTRODUCING THE ALL NEW HERCULES SELF CONTAINED TRACK RIG (STR-20) IMPACT VIBRO DRIVER AUGER DRIVER EXTRACTOR DRIVE Be the most versatile player on the worksite with the new Self-Contained Track Rig (STR-20). One machine with the flexibility of three tools right at your fingertips makes you the MVP of any worksite. 800.348.1890 HMC-US.COM a_Hercules_JHSpecialty_1704.indd 1 3/2/17 9:40 AM ✹ New &Noteworthy Brookfield To Take Over SunEdison’s TerraForm Yieldcos t appears TerraForm Global and TerraForm Power, yieldcos and interim CEO of the TerraForm yieldcos. “After a thorough of bankrupt renewables firm SunEdison, will finally be able review of alternatives and the significant steps taken by the Ito come out from underneath the shadow of their troubled board and management to best position TerraForm Global parent company. Canada-based Brookfield Asset Management for success, we are confident a sale to Brookfield is the best has agreed to fully acquire TerraForm Global, as well as acquire possible transaction for our shareholders. We look forward to a controlling stake and assume sponsorship of TerraForm working closely with Brookfield’s experienced team to achieve Power. a timely closing and a seamless transition.” Although neither yieldco was part of SunEdison’s Chapter In addition, Brookfield has entered into a definitive agree- 11 bankruptcy filing in April 2016, SunEdison’s financial woes ment with TerraForm Power under which Brookfield will weighed heavily on the subsidiaries’ operations. Under the acquire 51%, a controlling interest, of TerraForm Power and yieldco model, SunEdison, as the sponsor, would sell its oper- assume the role of the yieldco’s sponsor. ating projects to the TerraForm companies - a relationship that According to a press release, TerraForm Power Class A provided the yieldcos with a steady project pipeline to own and shareholders will receive $11.46 per share in cash, with an op- operate and SunEdison with more capital for future projects. tion for shareholders to elect shares in order to participate in After SunEdison’s bankruptcy, however, the yieldcos started future upside potential. Brookfield will provide TerraForm searching for buyers or new sponsors in an effort to break away Power with a 3.5 GW right-of-first-offer portfolio, represent- from their parent and remain viable companies. They recently ing about 1.2 GW of operating wind projects and around 2.3 signed exclusivity agreements with Brookfield regarding a pos- GW of development-stage wind and solar projects in North sible buyout, and now they have inked definitive deals. America and western Europe.
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