National Survey Report of PV Power Applications in the United States 2010
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Solar ABS 101
Project Bond Focus U.S. Residential Solar ABS 101 U.S. Residential Solar ABS 101 ABC Introduction and PPAs contracts is typically responsible for the installation and maintenance of the solar equipment throughout the term of the contract. Asset-backed securities (ABS) secured by residential solar financing contracts continue to emerge as a new sector of Leases the U.S. securitization market. The key drivers of expansion are the overall growth of the U.S. rooftop solar market, as Customers pay a fixed amount per month, generally well as institutional investors' increasing comfort for this escalating every year and benefiting from the production of new asset class. the panels installed by the developer providing the lease, regardless of actual consumption. The contracts typically The residential solar sector has experienced solid growth in include a minimum production guarantee to mitigate the risk recent years, with a peak of more than 2.5GW of capacity of equipment underperformance. The minimum production installed in 2016, representing approximately 325 thousand guarantee payments are typically made by the installers to households. After a 16% decrease in installation in 2017 the homeowner and do not reduce lease payments (no due to lower customer acquisition in California and netting). In some contracts, true-up payments at year-end Northeastern states, as well as regulatory uncertainty in may be required for over/under performance. Nevada, the residential solar market grew by 7% in 2018. Historically leading states seem to be transitioning to more PPAs stable growth rates, while Texas, Florida and Nevada are Homeowners pay every month for the actual solar energy experiencing higher growth. -
Setting the PACE: Financing Commercial Retrofits
Setting the PACE: Financing Commercial Retrofits Issue Brief Katrina Managan Program Manager, Institute for Building Efficiency, Johnson Controls Kristina Klimovich Associate, PACENow This report is the result of collaboration by the Johnson Controls Institute for Building Efficiency, PACENow, and the Urban Land Institute. February 2013 Table of Contents Introduction . 3 The Opportunity . 4 Background on PACE . 4 Early History of PACE . 5 PACE Market Activity Today . 6 PACE Financing . 7 Advantages of PACE Financing . 8 Financing Models . 10 Municipal Bond Funded Model (Figure 4) . 10 Privately Funded Model (Figure 5) . 11 Model Examples and Implications . 12 Program Administration . .13 Eligible Technologies and Projects . 14 Technologies and Measures . 14 Toledo, Ohio . 15 Transaction Size . 15 Loading Order Requirements . 16 Minimum Energy Savings Requirement . 17 Eligible Asset Classes, Target Market . 18 Building Owner Engagement . 18 Marketing and Outreach . 19 PACE Project Process . 20 Prologis HQ in San Francisco . 21 Conclusion. 22 Appendix 1: Research Methodology and Interview Questions . 23 Appendix 2: Active PACE Programs as of January 2013 . 24 Appendix 3: Building Efficiency Financing Options . 25 Appendix 4: Efficiency Measures Eligible in Each Program . 26 Appendix 5: Acknowledgements. 27 2 Institute for Building Efficiency www.InstituteBE.com Introduction Property Assessed Clean Energy (PACE) finance is a new and growing municipal approach to support energy efficiency and renewable energy upgrades in commercial buildings in the United States. As of February 2013, there were 16 commercial PACE programs accepting applications to finance building efficiency projects. Most of these have been active for less than a year, and some are just now working on their first projects. -
Chapter 6. Innovative Business Models and Financing Mechanisms
Chapter 6 Innovative Business Models and Financing Mechanisms for Distributed Solar Photovoltaic (DSPV) Deployment in China Sufang Zhang April 2016 This chapter should be cited as Zhang, S. (2015), ‘Innovative Business Models and Financing Mechanisms for Distributed Solar Photovoltaic (DSPV) Deployment in China’, in Kimura, S., Y. Chang and Y. Li (eds.), Financing Renewable Energy Development in East Asia Summit Countries. ERIA Research Project Report 2014-27, Jakarta: ERIA, pp.161-191. Chapter 6 Innovative Business Models and Financing Mechanisms for Distributed Solar Photovoltaic (DSPV) Deployment in China17 Sufang Zhang Abstract Following my report ‘Analysis of Distributed Solar Photovoltaic (DSPV) Power Policy in China’, this report looks into innovative business models and financing mechanisms for distributed solar photovoltaic power in China by reviewing existing literature and conducting interactive research, including discussions with managers from China’s policy and commercial banks, and photovoltaic projects. It first provides a comprehensive review of literature on business models and financing mechanisms. Then, the paper looks into the rapidly evolving business models and financing mechanisms in the United States, one of the countries leading the deployment of DSPV. The emerging innovative business models and financing mechanisms for DSPV projects in China are next discussed. The report concludes that: (a) innovative business models and financing mechanisms are important drivers for the growth of DSPV power in the United States; (b) enabling policies are determinant components of innovative business models and financing mechanisms in the country; (c) innovative business models and financing mechanisms in the Chinese context have their advantages and disadvantages; and (d) support through government policies is imperative to address the challenges in the emerging innovative business models and financing mechanisms in China. -
Environmental and Economic Benefits of Building Solar in California Quality Careers — Cleaner Lives
Environmental and Economic Benefits of Building Solar in California Quality Careers — Cleaner Lives DONALD VIAL CENTER ON EMPLOYMENT IN THE GREEN ECONOMY Institute for Research on Labor and Employment University of California, Berkeley November 10, 2014 By Peter Philips, Ph.D. Professor of Economics, University of Utah Visiting Scholar, University of California, Berkeley, Institute for Research on Labor and Employment Peter Philips | Donald Vial Center on Employment in the Green Economy | November 2014 1 2 Environmental and Economic Benefits of Building Solar in California: Quality Careers—Cleaner Lives Environmental and Economic Benefits of Building Solar in California Quality Careers — Cleaner Lives DONALD VIAL CENTER ON EMPLOYMENT IN THE GREEN ECONOMY Institute for Research on Labor and Employment University of California, Berkeley November 10, 2014 By Peter Philips, Ph.D. Professor of Economics, University of Utah Visiting Scholar, University of California, Berkeley, Institute for Research on Labor and Employment Peter Philips | Donald Vial Center on Employment in the Green Economy | November 2014 3 About the Author Peter Philips (B.A. Pomona College, M.A., Ph.D. Stanford University) is a Professor of Economics and former Chair of the Economics Department at the University of Utah. Philips is a leading economic expert on the U.S. construction labor market. He has published widely on the topic and has testified as an expert in the U.S. Court of Federal Claims, served as an expert for the U.S. Justice Department in litigation concerning the Davis-Bacon Act (the federal prevailing wage law), and presented testimony to state legislative committees in Ohio, Indiana, Kansas, Oklahoma, New Mexico, Utah, Kentucky, Connecticut, and California regarding the regulations of construction labor markets. -
Commercial Property-Assessed Clean Energy (PACE) Financing
U.S. DEPARTMENT OF ENERGY CLEAN ENERGY FINANCE GUIDE Chapter 12. Commercial Property-Assessed Clean Energy (PACE) Financing Third Edition Update, March 2013 Introduction Summary The property-assessed clean energy (PACE) model is an innovative mechanism for financing energy efficiency and renewable energy improvements on private property. PACE programs allow local governments, state governments, or other inter-jurisdictional authorities, when authorized by state law, to fund the up-front cost of energy improvements on commercial and residential properties, which are paid back over time by the property owners. PACE financing for clean energy projects is generally based on an existing structure known as a “land- secured financing district,” often referred to as an assessment district, a local improvement district, or other similar phrase. In a typical assessment district, the local government issues bonds to fund projects with a public purpose such as streetlights, sewer systems, or underground utility lines. The recent extension of this financing model to energy efficiency (EE) and renewable energy (RE) allows a property owner to implement improvements without a large up-front cash payment. Property owners voluntarily choose to participate in a PACE program repay their improvement costs over a set time period—typically 10 to 20 years—through property assessments, which are secured by the property itself and paid as an addition to the owners’ property tax bills. Nonpayment generally results in the same set of repercussions as the failure to pay any other portion of a property tax bill. The PACE Process *Depending upon program the structure, the lender may be a private capital provider or the local jurisdiction A PACE assessment is a debt of property, meaning the debt is tied to the property as opposed to the property owner(s), so the repayment obligation may transfers with property ownership depending upon state legislation. -
PACE) Financing
Frequently Asked Questions about Commercial Property Assessed Clean Energy (PACE) Financing General Questions What is PACE? Property assessed clean energy, or PACE, financing allows property owners to fund energy efficiency, water efficiency and renewable energy projects with little or no up-front costs. With PACE, eligible property owners living within a local government area that has adopted PACE can finance up to 100% of their project and pay it back over time as a voluntary property tax assessment through their existing property tax bill. Who administers PACE programs in Minnesota? Two public entities operate PACE programs: [1] the St. Paul Port Authority (SPPA) and the [2] Rural Minnesota Energy Board (RMEB). The St. Paul Port Authority is authorized to administer a PACE program after a city or county enters into a joint powers agreement with the SPPA. While the St. Paul Port Authority’s primary mission is to finance business expansion in the east metropolitan region, the authority operates a PACE program statewide, on behalf of the state Department of Commerce. Learn more about the Saint Paul Port Authority program. The Rural Minnesota Energy Board is an 18 county Joint Powers Board staffed by the Southwest Regional Development commission (SRDC). RMEB operates a separate PACE program for its member counties. RMEB counties include Cottonwood, Jackson, Lincoln, Lyon, Murray, Nobles, Pipestone, Redwood, Rock, Renville, Sibley, Brown, Watonwan, Blue Earth, Mower, Freeborn, Faribault and Martin. Learn more about the Rural Minnesota Energy Board program. How is this different from a traditional loan? PACE is a special assessment, commonly referred to as a PACE assessment, for a benefit tied to the property. -
CSPV Solar Cells and Modules from China
Crystalline Silicon Photovoltaic Cells and Modules from China Investigation Nos. 701-TA-481 and 731-TA-1190 (Preliminary) Publication 4295 December 2011 U.S. International Trade Commission Washington, DC 20436 U.S. International Trade Commission COMMISSIONERS Deanna Tanner Okun, Chairman Irving A. Williamson, Vice Chairman Charlotte R. Lane Daniel R. Pearson Shara L. Aranoff Dean A. Pinkert Robert B. Koopman Acting Director of Operations Staff assigned Christopher Cassise, Senior Investigator Andrew David, Industry Analyst Nannette Christ, Economist Samantha Warrington, Economist Charles Yost, Accountant Gracemary Roth-Roffy, Attorney Lemuel Shields, Statistician Jim McClure, Supervisory Investigator Address all communications to Secretary to the Commission United States International Trade Commission Washington, DC 20436 U.S. International Trade Commission Washington, DC 20436 www.usitc.gov Crystalline Silicon Photovoltaic Cells and Modules from China Investigation Nos. 701-TA-481 and 731-TA-1190 (Preliminary) Publication 4295 December 2011 C O N T E N T S Page Determinations.................................................................. 1 Views of the Commission ......................................................... 3 Separate Views of Commission Charlotte R. Lane ...................................... 31 Part I: Introduction ............................................................ I-1 Background .................................................................. I-1 Organization of report......................................................... -
Financing Energy-Efficiency and Renewable-Energy Projects Public Equity Instruments: an Analysis of Reits, MLPS and Yieldcos
National Institute of Council on Finance, BUILDING SCIENCES Insurance and Real Estate Financing Energy-Efficiency and Renewable-Energy Projects Public Equity Instruments: An Analysis of REITs, MLPS and Yieldcos An Authoritative Source of Innovative Solutions for the Built Environment National Institute of BUILDING SCIENCES Financing Energy-Efficiency and Renewable-Energy Projects Public Equity Instruments: An Analysis of REITs, MLPS and Yieldcos developed by the Council on Finance, Insurance and Real Estate (CFIRE) An Authoritative Source of Innovative Solutions for the Built Environment Financing Energy-Efficiency and Renewable-Energy Projects Public Equity Instruments: An Analysis of REITs, MLPs and Yieldcos Table of Contents Executive Summary ............................................................................................................ 3 Financing Energy-Smart Buildings and Renewables through REITs............................. 3 Renewable Energy Finance............................................................................................. 5 Master Limited Partnerships ........................................................................................... 5 Yieldcos .......................................................................................................................... 6 The Role of Federal Tax Incentives ................................................................................ 7 Recommendations .......................................................................................................... -
US Solar Industry Year in Review 2009
US Solar Industry Year in Review 2009 Thursday, April 15, 2010 575 7th Street NW Suite 400 Washington DC 20004 | www.seia.org Executive Summary U.S. Cumulative Solar Capacity Growth Despite the Great Recession of 2009, the U.S. solar energy 2,500 25,000 23,835 industry grew— both in new installations and 2,000 20,000 employment. Total U.S. solar electric capacity from 15,870 2,108 photovoltaic (PV) and concentrating solar power (CSP) 1,500 15,000 technologies climbed past 2,000 MW, enough to serve -th MW more than 350,000 homes. Total U.S. solar thermal 1,000 10,000 MW 1 capacity approached 24,000 MWth. Solar industry 494 revenues also surged despite the economy, climbing 500 5,000 36 percent in 2009. - - A doubling in size of the residential PV market and three new CSP plants helped lift the U.S. solar electric market 37 percent in annual installations over 2008 from 351 MW in 2008 to 481 MW in 2009. Solar water heating (SWH) Electricity Capacity (MW) Thermal Capacity (MW-Th) installations managed 10 percent year-over-year growth, while the solar pool heating (SPH) market suffered along Annual U.S. Solar Energy Capacity Growth with the broader construction industry, dropping 10 1,200 1,099 percent. 1,036 1,000 918 894 928 Another sign of continued optimism in solar energy: 865 -th 725 758 742 venture capitalists invested more in solar technologies than 800 542 any other clean technology in 2009. In total, $1.4 billion in 600 481 2 351 venture capital flowed to solar companies in 2009. -
Green Vision 2012 Annual Report Executive Summary
CITY OF SAN JOSE Green Vision 2Annual012 Report Including Tips For A Greener Community Table of Contents Executive Summary ................................................................................................. i-viii Introduction ................................................................................................................... 1 Strategic Framework..................................................................................................... 2 Climate Change ............................................................................................................. 3 Clean Tech Jobs............................................................................................................ 5 Reduced Energy Use .................................................................................................. 14 Renewable Energy ...................................................................................................... 24 Green Buildings........................................................................................................... 29 Zero Waste................................................................................................................... 34 Recycled Water ........................................................................................................... 45 Sustainable Development........................................................................................... 49 Clean Fleet Vehicles................................................................................................... -
Flat Run Solar, LLC Kentucky State Board on Electric Generation and Transmission Application
Flat Run Solar, LLC Kentucky State Board on Electric Generation and Transmission Application Site Assessment Report Case No. 2020-00272 April 2021 Contents 1. Description of Proposed Facility 2. Compatibility with Scenic Surroundings 3. Property Value Impacts 4. Anticipated Noise Levels at Property Boundary 5. Effect on Road, Railways, and Fugitive Dust 6. Mitigation Measures Attachments A. Preliminary Project Layout B. Property Value Impact Report C. Map of Nearest Neighbors D. Surrounding Area Images E. Boundary Survey and Legal Descriptions F. Noise and Traffic Study G. Phase 1 Environmental Site Assessment Flat Run Solar Site Assessment Report Page 1 1. Description of Proposed Facility REQUIREMENT: per KRS 278.708(3)(a); A description of the proposed facility that shall include a proposed site development plan that describes: 1. Surrounding land uses for residential, commercial, agricultural, and recreational purposes; 2. The legal boundaries of the proposed site; 3. Proposed access control to the site; 4. The location of facility buildings, transmission lines, and other structures; 5. Location and use of access ways, internal roads, and railways; 6. Existing or proposed utilities to service the facility; 7. Compliance with applicable setback requirements as provided under KRS 278.704(2), (3), (4), or (5); and 8. Evaluation of the noise levels expected to be produced by the facility COMPLIANCE: The proposed facility is described in detail in Section 2 of the Application. The proposed site development plan is attached hereto as Attachment A, and is described in detail at numbers 3-7 below. 1. A detailed description of the surrounding land uses is identified in the Impact Study conducted by Kirkland Appraisals, LLC, and attached as Attachment B. -
Background Report Prepared by Arizona State University NINETY-NINTH ARIZONA TOWN HALL
Arizona’s Energy Future 99th Arizona Town Hall November 6 - 9, 2011 Background Report Prepared by Arizona State University NINETY-NINTH ARIZONA TOWN HALL PREMIER PARTNER CONTRIBUTING PARTNER COLLABORATING PARTNERS SUPPORTING PARTNERS CIVIC PARTNERS CORE Construction Kennedy Partners Ryley, Carlock & Applewhite Sundt Construction One East Camelback, Suite 530, Phoenix, Arizona 85012 Phone: 602.252.9600 Fax: 602.252.6189 Website: www.aztownhall.org Email: [email protected] ARIZONA’S ENERGY FUTURE September 2011 We thank you for making the commitment to participate in the 99th Arizona Town Hall to be held at the Grand Canyon on November 6-9, 2011. You will be discussing and developing consensus with fellow Arizonans on the future of energy in Arizona. An essential element to the success of these consensus-driven discussions is this background report that is provided to all participants before the Town Hall convenes. As they have so often done for past Arizona Town Halls, Arizona State University has prepared a detailed and informative report that will provide a unique and unparalleled resource for your Town Hall panel sessions. Special thanks go to editors Clark Miller and Sharlissa Moore of the Consortium for Science, Policy, and Outcomes at ASU for spearheading this effort and marshaling many talented professionals to write individual chapters. For sharing their wealth of knowledge and professional talents, our thanks go to the many authors who contributed to the report. Our deepest gratitude also goes to University Vice President and Dean of the College of Public Programs for ASU, Debra Friedman, and Director of the School of Public Affairs for ASU, Jonathan Koppell, who made great efforts to ensure that ASU could provide this type of resource to Arizona.