The U.S. has historically vacillated between 5% and 7% of global PV installations. However, with a potential doubling of installations in the U.S. in 2011 and a slowdown in major European markets, global attention is increasingly turning toward the U.S. as a key growth center. In this session, GTM Research Managing Director Shayle Kann will present an analysis of the U.S. PV market in with unprecedented detail and granularity. Leveraging data from the quarterly SEIA/GTM Research U.S. Solar Market Insight report series and the GTM Research U.S. Utility PV Market Tracker, this session will map out the current landscape and future prospects for PV in the United States.
The California Solar Initiative is nearing its end. Performance-based incentives for non-residential projects are frozen in two of three utility territories and the remainder of both residential and non-residential funding is expected to expire in 2012. At the same time, new programs such as the Renewable Auction Mechanism (RAM) and CREST are ramping up. This panel will examine the future of the California market. Which market segment(s) will dominate? Will there be a shakeout while the market adjusts? What new programs might arise to replace the CSI? And when will we reach the elusive grid parity?
Moderator: Shayle Kann, Managing Director, Solar, GTM Research
Adam Browning, Co-Founder and Executive Director, The Vote Solar Initiative
Chris Robine, President and CEO, SPG Solar, Inc
John Woody, Senior Director of Project Development, Enfinity
Sanjay Ranchod, Director of Government Affairs and Senior Counsel, SolarCity
In a quest to buttress state-wide solar programs against a volatile solar pricing environment, states like New Jersey, Pennsylvania, Massachusetts, among others have created market-sensitive incentives based on state-required renewable energy targets. These market-based mechanisms, called Solar Renewable Energy Credits (SRECs), encourage the pricing of incentives based on the supply and demand of solar energy. However, the inherent uncertainty embedded in these programs and the disjointed regulations that local policy-makers have injected into state SREC markets have made these programs a minefield to navigate. This panel seeks to answer nuanced differences within these state markets as well as competitive and policy dynamics on the horizon that could drastically change the outlook of these markets.
Moderator: MJ Shiao, Solar Analyst, GTM
Brad Bowery, CEO, SRECTrade, Inc.
Dan Berwick, Director of Policy and Business Development, Borrego Solar Systems
Josh Goldberg, Vice President, Policy and Business Development, Astrum Solar
Yuri Horwitz, President & Chief Executive Officer, Sol Systems, LLC
While the U.S. PV market is said to be comprised of over 50 state and territory markets, historically, it has been dominated by a handful of key states like California and New Jersey. With leading state markets becoming increasingly crowded and dominated by a few key players, continued success and growth in the U.S. will depend on identifying and successfully penetrating new growth markets. This panel seeks to answer key questions on emerging state and territorial markets including: What policies make for promising markets? How do market leaders identify markets ripe for growth? How does a company successfully enter a new state market?
Moderator: MJ Shiao, Solar Analyst, GTM Research
Angiolo Laviziano, Founder, Mainstream Energy
Ken Ebbitt, Director of Product Management, SunRun, Inc.
Nick Chaset, Director of Market Development and Government Affairs, Q-Cells North America
As a loose collection of individual state, utility, and municipal demand centers, the U.S. is a complex PV market to navigate. Following on the morning’s sessions that covered individual markets, this session will take a broader viewpoint by examining the current and future structure of the U.S. market and how to make sense of its direction. Panelists will discuss macro trends that will impact demand (financing, federal policy, global PV market conditions), and the business models driving growth in each sector.
Moderator: Shayle Kann, Managing Director, Solar, GTM Research
Alan Yuan, CMO and Senior Vice President, Astronergy
Rhone Resch, President and CEO, Solar Energy Industries Association
Tim E. Hemig, Vice President, Solar Development, NRG Energy
Todd Glass, Partner, Wilson Sonsini Goodrich & Rosati
Almost $3 billion of project finance went into solar projects in 2010, including $2 billion for Abengoa’s Solana project in Arizona. 2011 is shaping up to be a banner year, with over $4 billion closed to date and another $16 billion expected to close before the end of the year. In this session, GTM Research Senior Analyst Brett Prior will present the latest findings on solar project finance including: major projects funded, key debt providers, key tax equity providers, sample financing terms, and a forecast for solar project finance through 2013.
With over 30 GW of utility-scale solar under development in the US alone, where will the $90+ billion required to build these plants come from? This panel will feature experts from leading investment banks, developers, and government agencies to help explain the latest trends in solar finance for residential, commercial and utility projects, including a discussion of financing structures, debt terms, monetizing SRECs, leases vs. PPAs, and what the future holds in a post-Loan Guarantee.
Moderator: Brett Prior, Senior Analyst, GTM Research
Chase Weir, Chief Executive Officer, Distributed Sun
Jimmy Chuang, Director, Global Head of Structured Finance, GCL Solar Energy Inc.
Melisa Wilson, Senior Vice President, Leasing and Asset Finance Division, Union Bank
Michael Mendelsohn, Senior Financial Analyst, National Renewable Energy Lab (NREL)
Travis Bradford, Founder, President, and Director, The Prometheus Institute for Sustainable Development
The key ingredients for large solar projects to succeed are almost all are in place: inexpensive solar systems, loan guarantees (or low cost debt), and regulatory approvals. The final piece: equity investment. Avenal, Ivanpah and Solana were able to secure it, but what about the remaining 30 GW of utility solar projects? This panel will feature experts from leading investment bank, direct equity providers, and solar developers to help explore this potential constraint to growth.
Moderator: Brett Prior, Senior Analyst, GTM Research
Daniel Rosen, Solar PPA Investment Program Lead, Siemens
Jonathan Pickering, President, JA Solar, Americas Region
Karen Wong, Global Project Finance Group, Milbank, Tweed, Hadley & McCloy, LLP
Mit C. Buchanan, Managing Director, Energy Investments, JPMorgan Capital Corporation
In a post-Lehman world, “bankability” has become a buzzword for the PV industry, and has emerged as a key determinant of a project (or vendor’s) success or failure in the U.S. Comprised of representatives from financiers, module vendors, project developers, and technical consulting firms, this panel will discuss the following questions: What does bankability really mean in concrete terms? What criteria do lenders take into account when assessing a given project or vendor’s bankability? How does bankability apply differently to different aspects of the value chain? How does the concept apply to projects in the U.S. versus Europe? And is the risk of module underperformance more perception than reality?
Moderator: Shyam Mehta, Senior Solar Analyst, GTM Research
Declan Flanagan, CEO, Lincoln Renewable Energy LLC
Edwin F. Feo, Managing Director, USRG Renewable Finance
Jon Previtali, Renewable Energy Consultant, Black & Veatch (B&V) Energy
Robert Petrina, Managing Director, Yingli Green Energy Americas
