Increasing Capital Flows During the Energy Transition
Our opening session will examine capital flows to renewable projects in an era of ongoing transition in the power sector. A panel of senior officials with leading financial institutions will share their observations on the continued attractiveness of renewable energy and offer insights on how to successfully manage the next few years as tax credits begin to phase out.
How quickly will other sources of capital replace tax equity in capital stacks and how will this affect project returns?
Lowering the overall cost of capital
The role of new investors entering U.S. markets
10:45 – 11:15 AM
11:15 – 12:15 PM
The State of the Tax Equity Market
Tax equity remains an important source of project finance in 2019. Prominent providers will offer commentary on the market’s trajectory as the sector increases reliance on alternative sources of capital.
Securing tax equity prior to the phasedown of tax credits
Bonus depreciation with lowered tax rates
Continued effects of the BEAT provision
12:15 – 1:30 PM
1:30 – 2:15 PM
Getting to $1 Trillion by 2030: How Markets and Structures Will Need to Adapt
Grounded in a survey of financial institutions, ACORE has launched a campaign to secure $1 trillion in additional U.S. renewable energy and enabling grid technology investment between 2018 and 2030. However, policy, regulatory and market barriers may pose challenges for this ambitious target. A fireside chat with strategic players will consider solutions to these hurdles, reflecting on the following questions:
How important are mandates and policies for continued market momentum?
What should we look for in climate policy?
How are states pushing past barriers?
How can we leverage market incentives to increase demand?
2:15 – 3:00 PM
A Deep Dive on Power Pricing
This presentation and discussion will offer a detailed look into the trajectory of power prices and the growing competitiveness of renewable energy.
What can we learn from countries without tax credits? Why are markets like Mexico and Alberta seeing lower pricing?
Where do we see power pricing in the context of grid modernization and new technologies?
How will shorter and more discrete contracts affect power pricing?
Will renewables become competitive in merchant markets?
How will tariffs affect power pricing?
3:00 – 3:30 PM
3:30 – 4:30 PM
Evolving Demand from the C&I Sector: New Contracts and Market Incentives
As renewable energy use grows in prevalence throughout the corporate and industrial sector, the profile of offtakers is quickly diversifying. With this growth has come a shift in demand toward renewable energy options that meet the needs of energy users with smaller loads and different appetites. This panel will consider new contracting options and market incentives to accommodate these new players.
The shifting form of C&I PPAs: shorter tenures, smaller offtake agreements and multi-client contracts
The use of proxy generation PPAs to reduce complexity and help manage risks
Scope 3 emissions reduction efforts and renewable value chain initiatives
4:30 – 5:15 PM
The Value of Renewable Energy in ESG Scoring
Corporate and industrial buyers, financial institutions and other publicly traded companies are seeking methods to better align Environmental, Social and Governance (ESG) scoring with their decarbonization strategies. Panelists will examine new efforts to promote standardized and transparent metrics for climate disclosure and renewable energy use, and identify how improved ESG scoring metrics can help grow demand for renewables.
5:45 – 8:00 PM
Wednesday, June 19 - Day 2
9:00 – 10:00 AM
Renewable Energy Owners Redefined: Disruption in the Utility Sector and the Growth of New Power Providers
The energy transition presents opportunities and challenges for both traditional and new owners of renewable projects. Utilities are increasingly adopting “steel for fuel” strategies and introducing new models for storage while confronting other market dynamics. Meanwhile, the emergence of new power providers, such as community choice aggregators, is fueling additional demand and changing regulatory environments. This panel will offer owners’ perspectives on the following questions:
Are the phase outs of the PTC and ITC an opportunity for increased utility development?
How are utilities changing how they treat renewable assets?
What is the role for new power providers like CCAs, many of which do not have credit ratings, and how are they financing projects?
How are tax reforms and lowered credit ratings affecting utility development?
10:00 – 11:00 AM
Insights from Top Developer CEOs
Senior executives from companies driving renewable energy’s expansion will share their evolving strategies in response to market shifts, regulatory dynamics and policy changes.
The impacts of tax reform, tariffs and other federal policy shifts on development
How the movement away from traditional 15-20 year offtake agreements is affecting business
How dynamic regulatory climates across the country are creating unique environments for renewable development, with new opportunities and risks
11:00 – 11:30 AM
11:30 – 12:15 PM
The Intersection of Public and Private Markets
Analysts will discuss how public and private markets are working together to support the growth of the renewable energy economy.
Permanent private capital vehicles and 20-30 year investment strategies
12:15 – 1:30 PM
1:30 – 2:15 PM
Priorities for Infrastructure Development: The Best Models for Buildout
Speakers will identify renewable industry priorities to build the infrastructure required to support higher levels of renewable energy in the nation’s power grid. The discussion will navigate both private and public solutions at the federal and state levels.
Market structure reforms and other ways to support development of the sector
Who should build it?
The role of EV-charging infrastructure
Public/private partnership arrangements
2:15 – 3:15 PM
Case Study: A Closer Look at the Emerging “Shape Product” of Renewables and Storage Systems
This case study will bring together project participants of a “shape product,” an integrated energy system with solar, wind and/or storage that creates a baseload grid asset. Speakers will discuss how they coordinated the project’s plan and identified revenue streams, as well as consider lessons learned.
3:15 – 3:30 PM
3:30 – 4:30 PM
Trends in Debt Markets
Debt lending is becoming more favorable for projects as the sector transitions away from tax equity. Senior lenders will offer perspectives on leveraging debt for project finance and growth.
4:30 – 5:30 PM
Trends in Equity Markets
Speakers will discuss evolving strategies amongst equity providers, the entrance of new infrastructure investors and projections about the future of public and private equity markets.