On June 2nd, the New York State Energy Research and Development Authority (NYSERDA) and the New York Power Authority (NYPA) issued record requests for proposals from qualified developers to build renewable energy projects that will generate 2.5 million megawatt-hours (MWh) of electricity a year. The two requests combined total the largest renewable RFP issued in any state. Alliance for Clean Energy New York estimates that the solicitation “will drive between 600 and 1,600 megawatts of new capacity depending on the mix of technologies ultimately developed.”
From April 26th-28th, San Francisco hosted the 2017 Ceres Conference. Ceres is a non-profit organization advocating for sustainability leadership. The annual conference brings together more than 600 investor and company leaders and advocates who are catalyzing the biggest breakthroughs on sustainability.
This year’s jam-packed agenda spanned a variety of topics surrounding the energy industry, but two key themes emerged: (1) that there is a growing need for standardized data to measure the impact of investments made in energy, and (2) that sustainable energy is playing an increasingly central role in the investment decisions for stakeholders across sectors and across the political landscape – in other words, the push for clean energy isn’t going anywhere. Continue Reading Recap: The 2017 Ceres Conference on Sustainability
Senate Finance Committee Ranking Member Ron Wyden (D-OR) recently introduced the “Clean Energy for America Act,” which aims to create a new technology neutral system for federal tax credits for clean energy, clean fuel, and energy efficiency projects. The bill would offer performance-based tax incentives for efficient homes and office buildings, and would significantly reduce carbon pollution over the next decade. Senator Wyden, also a member of the Energy & Natural Resources Committee, received support from 21 Democrat co-sponsors, including Senate Minority Leader Chuck Schumer (D-NY) and Energy and Natural Resources Committee Ranking Member Maria Cantwell (D-WA). To learn more about the Clean Energy for America Act, read on!
Tom Burton, Member of the firm’s Corporate & Securities Section and Founder and Chair of the firm’s Energy Technology Practice, will publish bi-weekly installments providing key takeaways from the four sections of AEE’s webinar including: Industry Growth; Advanced Energy Jobs; Growth Trends; and Policy. This is the fourth installment of the series. Click to read Part 1, Part 2, and Part 3.
Throughout AEE’s webinar, panelists broke down the trends within growth of the advanced energy markets and presented the key takeaways from the AEE report. Most notably, building efficiency is the largest segment of advanced energy revenue in the U.S., reaching almost $70 billion in 2016. This represents more than a third of advanced energy in the U.S., and is up 64% since 2011. Panelist Kevin Self noted that buildings consume about 41% of U.S. energy, so energy efficiency remains the most cost effective way to control spending. Other notable growth trends include:
- Wind has remained steady, producing roughly $14 billion in revenues in both 2015 and 2016. This a good pattern compared to earlier fluctuations due to uncertainty with production tax credits. The extension and renewal of this tax credit creates the ability for the wind industry to develop at a steadier place.
- Solar continues to boom, reaching $25 billion in U.S. revenue last year—up 30% since 2015 and tripling since 2011. Panelist Paul Kaleta emphasized that solar energy is firmly at the forefront of energy transformation in the U.S., and is now economically competitive with fossil fuels.
- Energy storage is up 54% in 2016, at nearly half a million dollars in revenue.
- Electric vehicles also exhibited strong growth at 48%, with U.S. Plug-in Electric Vehicle (PEV) revenue at $7.8 billion in 2016. Panelist Zachary Kahn also advised that we can expect to see the use of electric buses grow exponentially in the U.S. over the next 5-10 years.
As the 115th Congress gets underway, Senators Rob Portman (R-OH) and Jeanne Shaheen (D-NH) have reintroduced the Energy Savings and Industrial Competitiveness Act, better known as Portman-Shaheen. The bill is cosponsored by Senators Michael Bennet (D-CO), Susan Collins (R-ME), Chris Coons (D-DE), Al Franken (D-MN), Joe Manchin (D-WV), Mark Warner (D-VA), and Roger Wicker (R-MS).
Portman-Shaheen was introduced in the previous three congresses with bipartisan support. The bill is aimed at using low-cost tools to make it easier for private sector energy users to become more efficient while also making the country’s largest energy user – the federal government – more efficient.
The bill is focused on Buildings, Manufacturers, and the Federal Government:
On December 15, 2016, the MIT Energy Initiative (MITEI) released an in-depth research report providing guidance for the evolving electric power sector. The MITEI report, The Utility of the Future, proposes major regulatory, policy, and market overhauls to electric power systems around the world for efficient integration of distributed and centralized energy resources. Through a set of analysis-based recommendations, the comprehensive study has two overarching proposals: the development of a comprehensive system of prices and regulated charges that apply to all network users, and the removal of inefficient barriers that currently impede the integration and competition of distributed and centralized resources. To learn more about MITEI’s report, read on! Continue Reading MIT Energy Initiative Releases Report for Evolving Electric Power Sector
Last week the Advanced Energy Economy (AEE) released its fourth annual Advanced Energy Now Market Report, which highlighted the spectacular growth in advanced energy over the last five years both globally and in the United States. Advanced energy is now a record $1.4 billion worldwide industry following a growth of 17 percent since 2011. An 8 percent increase from 2014 to 2015 was more than three times the rate of the global economy overall. Domestically, advanced energy has grown an astonishing 29 percent over the last five years and now represents a $200 billion market. For more details on the report and the findings on specific sectors in the U.S. market, read on!
Last month the Department of Energy’s Office of Energy Efficiency and Renewable Energy (EERE) issued a Funding Opportunity Announcement (FOA) entitled “Buildings Energy Efficiency Frontiers and Innovation Technologies (BENEFIT) 2016.” It covers some pretty cool areas, including sensor applications. There will be $20 million in federal funding available for projects in the following two areas: Innovations, focusing on early-stage topics; and Frontiers, emphasizing later-stage, roadmap-driven topics. Read on to learn more about this funding opportunity!
Congratulations to our client, Bigbelly, for being recognized as one of BostInno’s 2015 “50 on Fire” winners. The 50 winners were selected from 200 finalists and thousands of nominations and represent a group of diverse individuals and organizations driving innovation in Boston and beyond. Winners were chosen in the following categories: civic (smart city), design, dining and retail, education, healthcare and medicine, investment, marketing and advertising, professional services, sports and fitness, and technology. Bigbelly, a worldwide leader in smart waste and recycling solutions, was one of the Civic (Smart City) winners. To learn more about Bigbelly and the other “50 on Fire” Civic (Smart City) winners, read on!
Interested in upcoming events in the energy technology industry? Look no further! Our blog features an events page dedicated to listing happenings around the globe. Click here to view it – and feel free to add this page to your favorites list!
Are you hosting an energy event that you’d like us to include? Please reach out to Cassie Bent at CMBent@mintz.com.
Below we’ve included upcoming events in September. For a full list of events, visit the events page.