'Something's got to give': Why Wall St is uneasy with the renewable energy boom
In 2015 solar power projects came to $6.8B, while wind power came in around $6.4 billion.
'Something's got to give': Why Wall St is uneasy with the renewable energy boom
By Peter Maloney | June 29, 2016
Financiers and CEOs see a strong year ahead for renewable energy deals, but they also see challenges stemming from that growth.
The market will be similar in size and scope to last year when $13 billion of renewable energy deals closed, John Eber, managing director of energy investment at J.P. Morgan, said at the 13th annual Renewable Energy Finance Forum in New York.
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Patrick Woodson, chairman of E.ON North America, sees the industry heading into a period of massive growth with 50 GW of renewable resources being built over the next four years.
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Declining costs were cited several times as one of the key drivers for the sector. Michael Polsky, president and CEO of Invenergy, went as far as saying the Environmental Protection Agencys stalled Clean Power Plan is irrelevant to the growth prospects of renewable energy.
Growth will be driven by cost declines, he said.
The business proposition for renewable energy is so compelling it is becoming mainstream, especially compared with other alternatives, Polsky said. New nuclear and coal-fired plants are not viable options and, although there is still room for natural gas-fired plants, he said a lot of people still remember how volatile gas prices can be, strengthening the case for renewables....
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