NECEC Solar Finance Event Slides 25Apr13
-
Upload
abbeyatnecec -
Category
Documents
-
view
108 -
download
1
description
Transcript of NECEC Solar Finance Event Slides 25Apr13
![Page 1: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/1.jpg)
Next Steps for Solar in Massachusetts and Beyond
Hosted by
One Financial Center, 38th Floor Boston, MA 02111
![Page 2: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/2.jpg)
• Patrick Daly President and Chief Executive Officer, Nexamp
• Carrie Cullen Hitt Senior Vice President of State Affairs, Solar Energy Industries Association (SEIA)
• David O’Connor Senior Vice President for Energy & Clean Technology, Mintz Levin • Mark Sylvia Commissioner, Massachusetts Department of Energy Resources (DOER) Moderated by Janet Gail Besser Vice President, Policy & Government Affairs, NECEC
![Page 3: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/3.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(
Massachuse(s)Solar)Policy)&)Results)
)Mark)Sylvia)
Commissioner))
April)25,)2013)
![Page 4: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/4.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(2
Massachuse(s)Solar)Development)Strategies)(PreDSolar)CarveDOut))
• Renewable(Por,olio(Standard(–(established(in(2003(
• Governor(Patrick’s(goal(–(250(MW(by(2017((set(in(2007)(
• Commonwealth(Solar((Rebates)(–(iniGated(Dec.(2007(– Rebate(Program:($68(million,(27(MW(– Successfully(achieved(and(completed(Oct.(2009(– Created(robust(PV(development(sector(in(MA(
• Commonwealth(Solar(II((Rebates)(managed(by(the(MassCEC(for(small((<15kW)(systems(has(maintained(residenGal(PV(market(
• Federal(SGmulus/ARRA(funds(used(by(DOER(to(support(over(10(MW(of(PV(at(state/municipal(faciliGes.(
![Page 5: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/5.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(
State)Law)Drives)Investments,)Creates)Economic)&)Environmental)Opportunity,)
NaLonal)Leadership)• Green)CommuniLes)Act)(GCA)((((((((((
– RPS(Class(I(Carve(Out(– Long(Term(Contracts(/(Net(Metering(
– Green(CommuniGes((110/45%) ( ((
– All(cost(effecGve(energy(efficiency(
– UGlity(owned(solar(pv()
• Global)Warming)SoluLons)Act)(GWSA))– GHG(reducGon(goals:(25%(by(2020;(80%(by(2050(
• 7.7%(from(electric(supply;(1.2%(from(RPS()
• Act)RelaLve)to)CompeLLvely)Priced)Electricity)in)the)Commonwealth)– Long(Term(Contracts(
– Increase(in(Net(Metering(Cap(
(
![Page 6: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/6.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(4
Summary)of)MA)Renewable)Energy)PorRolio)Standard)(RPS))Programs)
4
RPS Class Sub Class Technology Minimum
Standard 2012 ACP Rate,
$/MWh
Class I
Wind, LFG, Biomass, Solar, Small Hydro, AD, etc.
7% in 2012, increases 1%/year
$64.02; increases with CPI
Solar Carve-Out Solar PV; 6 MW or less, in MA
set by formula to grow installed capacity to 400 MW
$550; reduced annually according to 10-year schedule
Class II
Renewable same as Class I 3.6%, stays constant
$26.28; increases with CPI
Waste Energy Waste to Energy Plants, in MA
3.5%, stays constant
$10.51; increases with CPI
APS CHP in MA, flywheels, storage, etc.
2.5% in 2012; increases to 5% in 2020
$21.02; increases with CPI
![Page 7: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/7.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(5
SREC)Program)Design)Features)
Program((design(features(help(ensure(market(stability,(balance(! Adjustable(Minimum(Standard((
maintains(SREC(demand/supply(in(reasonable(balance(
! Forward(ACP(Rate(Schedule(provides(investor(certainty)
! Solar(Credit(Clearinghouse(AucGon(Account(essenGal(price(support(mechanism(to(assure(SREC(floor(price(
! OptgIn(Term(provides(right(to(use(AucGon(for(a(set(period(of(Gme(
! Program(Cap(of(400(MW(
Enables(sufficient(market(growth(opportunity((exceeds(Governor’s(goal(of(250(MW(by(2017)(
These(features(work(together(to(ensure(the(market(will(remain(in(balance(as(more(PV(is(built(
![Page 8: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/8.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(6
Minimum)Standard)Adjustment)
6
)Compliance)Year))Compliance)ObligaLon)
(MWh))Minimum)Standard)
Percentage)Equivalent)FullDYear)Solar)
Capacity)(MW)))
2010) 34,164) 0.0679%) 30)
2011) 78,577) 0.1627%) 69)
2012) 81,559) 0.1630%) 72)
2013) 135,495) 0.2744%) 119)
For(2012(and(beyond,(the(Minimum(Standard((Compliance(ObligaGon)(is(adjusted(each(August(according(to(a(formula(set(in(the(program(regulaGon.(
(2013(Min.(Stand(=(2012(Min.(Stand(
(+([Projected(2012(SRECs(–(Actual(2011(SRECs]((x((1.3((–(2011(ACP(Volume(+((2011(Banked(Volume(+(2011(AucGon(Volume(
2013)CalculaLon)Based)on)Current)Formula)135,495(MWh(=(81,559(MWh(+([109,465(–(26,598]((x((1.3(–(53,802(+((11(+(0(
![Page 9: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/9.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(7
Price)Support)–)AucLon)Mechanism)• Solar(Credit(Clearinghouse(AucGon(Account(
! Open(every(year(from(May(16th(–(June(15th((
! Any(unsold(SRECs(may(be(deposited(into(the(Account(
• AucGon(will(be(held(no(later(than(July(31st,(but(aoer(the(Minimum(Standard(adjustment(is(announced(
• Deposited(SRECs(are(regminted(as(“extended(life”(SRECs((good(for(compliance(in(either(of(the(following(two(Compliance(Years)(
• SRECs(are(offered(to(bidders(for(a(fixed(price(of($300/MWh(before(being(assessed(a($15/MWh(aucGon(fee(by(DOER.((Bidders(bid(on(volume(willing(to(buy(at(the(fixed(price(
• SREC(owners(will(be(paid($285/MWh(for(each(SREC(sold(through(the(AucGon(
(((
![Page 10: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/10.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(8
Current)SREC)Program)StaLsLcs)–)3/15/13)
• Over(5,400(applicaGons(received(
• Over(4,900(qualified(units(
• Nearly(215(MW(qualified(
• Nearly(200(MW(of(qualified(projects(installed(
• 2,741(SRECs(created(in(2010(
• 26,598(SRECs(created(in(2011(
• More(than(115,000(SRECs(expected(to(be(created(in(2012(
((Number)of)Systems)
Capacity))(MW))
ApplicaLons)Received))
5,700))
292.7))
ApplicaLons)under)Review))
494))
79.1))
ApplicaLons)Qualified))
4,963))
214.6))
Qualified)but)InstallaLon)Incomplete)
20))
17.4))
Qualified)and)Installed)
4,943))
197.2))
![Page 11: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/11.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(9
Current)SREC)Program)StaLsLcs)–)3/15/13)AcLvity)by)System)Size)
4,532)
572)
221) 132)
#)of)ApplicaLons)
25.4)18.1)
48.8)
200.3)
#)of)MW)
<(10(kW(
10g100(kW(
100g500(kW(
>(500(kW(
![Page 12: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/12.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(
)))))))))
BUILDING)ON)SUCCESS)
10
![Page 13: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/13.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(11
2013)Rulemaking)Process)
• DOER(began(formal(rulemaking(process(in(February(
• Primary(reason(for(rulemaking(was(to(make(two(changes(to(RPS(Class(I(RegulaGon:(– Insert(10gyear(forward(ACP(Rate(
schedule(into(regulaGon(
– Remove(the(subtracGon(of(ACP(Volume(from(Minimum(Standard(formula(
• DOER(plans(to(retroacGvely(apply(change(to(2013(Minimum(Standard,(thereby(increasing(demand(in(2013(
• AddiGonal(changes(also(made(to(improve(the(funcGon(of(the(market(
• Final(rules(expected(to(be(promulgated(in(June(or(July(
Example Calculation – CY
2013 Current Formula Proposed Formula
Compliance Obligation
135,495 MWh 189,297 MWh
= 81,559 MWh + [109,465 - 26,598] x 1.3 - 53,802 + 11 + 0
= 81,559 MWh + [109,465 - 26,598] x 1.3 + 11 + 0
Minimum Standard
0.2744% 0.3833%
= 135,495 MWh / 49,386,169 MWh x 100
= 189,297 MWh / 49,386,169 MWh x 100
![Page 14: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/14.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(12
PostD400)MW)Policy)Development)
• DOER(began(discussions(on(development(of(a(postg400(MW(solar(policy(in(March(
• PresentaGon(was(given(to(stakeholders(on(the(different(opGons(available(at(a(public(meeGng(on(March(22nd((
• Comments(were(solicited(through(April(8th(on(the(iniGal(policy(design(
• DOER(plans(to(review(comments(before(convening(another(stakeholder(meeGng(and(puvng(forth(a(straw(proposal(for(further(public(comment(
• Will(follow(with(a(rulemaking(process(to(adopt(new(rules(and(establish(a(successor(program(or(expansion(to(the(exisGng(Solar(CarvegOut(
• Process(expected(to(conGnue(throughout(2013(
![Page 15: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/15.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(
))))))))
SUPPORTING)CAST)
13
![Page 16: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/16.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(
Ownership)Models)
• Power(Purchase(Agreement((PPA)(
• Net(Metering(Credit(Purchase(Agreement((CPA)(
• Outright(purchase(• Land(lease(
![Page 17: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/17.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(
Green)CommuniLes)DesignaLon)• 110(ciGes(and(towns(designated(Green(CommuniGes(
• More(than($24(million(invested(to(implement(energy(efficiency(and(renewable(technologies(
• Total(reducGon(of(1,809,059(MMBTUs(commiwed,(equivalent(to(the(annual(energy(consumpGon(of(approximately(13,600((Massachusews(households((15
![Page 18: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/18.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(
Helpful)PublicaLons)
( ( ( ((
( ( ((((((((((Q&A(on(Ground((Mounted(Systems( ( (g(Health(topics( ((
( ( ( (g(Decommissioning(
(
( ( (((((((((((PV(Guide(for(projects(on(landfills(
( ( ( (g(Available(IncenGves(
( ( ( (g(Permivng((
( ( ( (g(Development(models(
16
![Page 19: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/19.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(
SolarizeMass®)• Partnership(between(MassCEC(and(DOER(• Encourages(the(adopGon(of(((((((smallgscale(PV(projects(by:(
! Deploying(a(coordinated(educaGon((markeGng(and(outreach(effort((
! Offering(a(group(purchasing(model((! Providing(increased(savings(as(more(people(in(a(community(go(solar(
• 2011(pilot(program(results(in(four(selected(communiGes:(! 164(contracted(projects(represenGng(over(800(kW(of(capacity(! Projects(installed(at(significantly(less($/waw(cost(than(statewide(average(
during(the(same(period(
• 2012(program(results(in(17(selected(communiGes:(! 748(contracted(projects(represenGng(over(4.8(MW(of(capacity(
• 10(communiGes(have(been(selected(to(parGcipate(in(the(2013(program(
17
![Page 20: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/20.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(
SunShot)IniLaLve)Rooiop)Challenge)• DOE(grant(to(lower(“soo(costs”(($566,354)(
• MassSolar(Partners:(Boston,(Cambridge,(Harvard,(Ha,ield,(and(Winchester,(Public(Safety,(MassDevelopment,(MassCEC,(SEBANE(
• Outreach(to(community(financial(insGtuGons(
• Products:(! model(permivng(processes(and(permit(applicaGons(for(systems(
under(300(kilowaws((kW)(and(10(kW(
! prescripGve(structural(review(process(to(reduce(the(review(Gme(required(for(common(types(of(residenGal(systems(below(10kW(
! updates(to(the(state’s(interconnecGon(website(to(make(the(content(more(user(friendly(
! model(solar(PV(bylaw(with(regulatory(guidance((for(both(roooop(and(groundgmounted(PV(systems(of(all(sizes.(((
! guidance(documents(on(Community(Shared(Solar(18
![Page 21: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/21.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(
Monthly)Web)Updates)
19
![Page 22: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/22.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(
))))))
RESULTS)
20
![Page 23: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/23.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(21
Highlights)• MA(ranks(7th(naGonally(in(cumulaGve(installed(capacity(
• Ranked(3rd(in(commercial(installaGons(and(6th(in(residenGal(installaGons(in(2012(
• 2nd(lowest(weighted(average(commercial(installaGon(costs(
• Ranked(4th(in(total(solar(jobs(and(8th(in(per(capita(solar(jobs(in(2012(
• 342(of(351(MA(ciGes(&(towns(have(at(least(one(solar(installaGon(
• More(capacity(was(installed(2012(than(was(installed(in(all(years(prior(to(2012(
• Solar(generaGon(as(a(percentage(of(the(RPS(increased(by(more(than(700%(from(2010(to(2011(and(is(expected(to(increase(by(an(addiGonal(300%(in(2012(
(((Sources: SEIA/GTM Research 2012 US Solar Market Insight Report, The Solar Foundation’s National 2012 Jobs Census, and 2011 Annual RPS/APS Compliance Report
![Page 24: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/24.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(
Average)$/Wa()Installed)Costs)(2010D2013))
$0.00(
$1.00(
$2.00(
$3.00(
$4.00(
$5.00(
$6.00(
$7.00(
$8.00(
$9.00(
$10.00(
1/1/2010( 7/20/2010( 2/5/2011( 8/24/2011( 3/11/2012( 9/27/2012( 4/15/2013(
$/Wa(
)Cost)
InterconnecLon)Date)
Linear((>100(kW(Roof(Mount)(Linear((10g100(kW(Roof(Mount)(Linear((0g10(kW)(
Linear((Ground(Mount)(
![Page 25: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/25.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(23
0.04) 0.29) 0.59) 0.81) 1.84) 1.64) 3.63) 9.64) 22.95)42.51)
135.80)
23.61)0.00(
50.00(
100.00(
150.00(
200.00(
250.00(
2002( 2003( 2004( 2005( 2006( 2007( 2008( 2009( 2010( 2011( 2012( 2013(
Installed)Solar)Capacity)in)Massachuse(s)(4/1/13))
Annual(Installed(Capacity((MW)( CumulaGve(Installed(Capacity((MW)( 243)MW)
![Page 26: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/26.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(24
![Page 27: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/27.jpg)
Crea%ng(A(Greener(Energy(Future(For(the(Commonwealth(
Thank)you!)
(
DOER(RPS(Website:((www.mass.gov/energy/rps((
RPS(Contact:([email protected]((
DOER(Solar(Website:(www.mass.gov/energy/solar((
SREC(Contact:([email protected]((
(
(
(
25
![Page 28: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/28.jpg)
©"2012"SEIA"©"2012"SEIA"
U.S.$Solar$Market$Insight$2012$Year7In7Review$
SEIA$and$GTM$Research$
Carrie"Cullen"Hi3"SVP,"SEIA"April"25,"2013"
![Page 29: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/29.jpg)
©"2012"SEIA"
Solar"Con;nues"to"Boom@"3,313$MW$Installed"in"2012"
• Record"Q4"with"1,300"MW"deployed"
0"
500"
1000"
1500"
2000"
2500"
3000"
3500"
2006$ 2007$ 2008$ 2009$ 2010$ 2011$ 2012$
Installed$Ca
pacity$(M
W)$
New$U.S.$Solar$Electric$InstallaNons$$
Annual" Q1" Q2" Q3" Q4"
![Page 30: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/30.jpg)
©"2012"SEIA"
Record"Quarter"for"U;lity"and"Residen;al"Markets"
144$MW$
282$MW$
874$MW$
0"
100"
200"
300"
400"
500"
600"
700"
800"
900"
1000"
ResidenNal$ Commercial$ UNlity$
Installed$Ca
pacity$(M
W)$
Q1"2010" Q2"2010" Q3"2010" Q4"2010" Q1"2011" Q2"2011" Q3"2011" Q4"2011" Q1"2012" Q2"2012" Q3"2012" Q4"2012"
![Page 31: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/31.jpg)
©"2012"SEIA"
Solar"More"Affordable"Than"Ever"• Average"system"prices"declined$27%"over"the"past"year"
"$@""""
"$2.00""
"$4.00""
"$6.00""
"$8.00""
"$10.00""
"$12.00""
1998$ 1999$ 2000$ 2001$ 2002$ 2003$ 2004$ 2005$ 2006$ 2007$ 2008$ 2009$ 2010$ 2011$ 2012$
Blen
ded$Av
erage$System
$Pric
e$($/W
)$
Blended$Average$System$Prices$
LBNL""Tracking"the"Sun"IV"" SEIA/GTM"Research"
![Page 32: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/32.jpg)
©"2012"SEIA"
State"2012"Performance""
• 11"states"installed"50$MW$or"more"in"2012"
• The"Massachuse3s"market"more"than"quadrupled"in"new"PV"capacity"from"2011"to"2012"
• California’s"residen;al"and"commercial"markets"led"the"na;on"
• Hawaii’s"market"grew"169%"in"2012"over"2011"
"
0" 200" 400" 600" 800" 1,000" 1,200"
10.$New$York$
9.$Texas$
8.$Maryland$
7.$Hawaii$
6.$MassachuseZs$
5.$North$Carolina$
4.$Nevada$
3.$New$Jersey$
2.$Arizona$
1.$California$
Residen;al"Commercial"U;lity"
1,033$MW"
710$MW"
415$MW"
198$MW"
132$MW"
![Page 33: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/33.jpg)
©"2012"SEIA"
Fun"With"Rankings"
"61""
"64""
"74""
"109""
"129""
"132""
"198""
"415""
"710""
"1,033""
"@"""" "300"" "600"" "900"" "1,200""
New"York"
Texas"
Maryland"
Hawaii"
Massachuse3s"
North"Carolina"
Nevada"
New"Jersey"
Arizona"
California"
CumulaNve$Solar$Electric$Capacity$
"30""
"34""
"48""
"52""
"76""
"91""
"110""
"137""
"146""
"167""
"@"""" "50"" "100"" "150"" "200""
Massachuse3s"
Vermont"
Delaware"
Colorado"
California"
New"Mexico"
New"Jersey"
Hawaii"
Nevada"
Arizona"
Installed$Solar$Electric$WaZs/Capita$
"21,729""
"27,035""
"32,075""
"37,269""
"37,463""
"43,049""
"48,641""
"138,731""
"138,951""
"547,085""
"@"""" "200,000"" "400,000"" "600,000""
North"Carolina"
New"York"
Massachuse3s"
Hawaii"
New"Mexico"
Colorado"
Nevada"
Arizona"
New"Jersey"
California"
Number$of$Homes$Powered$by$Installed$Solar$Capacity$
![Page 34: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/34.jpg)
©"2012"SEIA"
What"to"Expect"in"2013"• 4,300"MW"of"PV"and"
940"MW"of"CSP"expected"to"come"online"in"2013"
• Residen;al"market"to"show"most"significant"growth"
• U;lity"market"projected"to"grow"31%"in"2013,"compared"to"134%"in"2012"
"@""""
"500""
"1,000""
"1,500""
"2,000""
"2,500""
"3,000""
"3,500""
"4,000""
"4,500""
2012" 2013E"
Installed$Ca
pacity$(M
W)$
2012$vs.$2013E$PV$InstallaNons$$
![Page 35: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/35.jpg)
©"2012"SEIA"
Another"Record"Year"of"Installa;ons"• U.S."PV"market"expected"to"grow"29%"in"2013,"significantly"
higher"than"the"global"rate"
4,269$
$5,180$
6,868$
8,943$
0"
1000"
2000"
3000"
4000"
5000"
6000"
7000"
8000"
9000"
10000"
2008$ 2009$ 2010$ 2011$ 2012$ 2013E$ 2014E$ 2015E$ 2016E$
Installed$Ca
pacity$(M
W)$
PV$InstallaNon$Forecast$
Residen;al" Commercial" U;lity"
![Page 36: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/36.jpg)
©"2012"SEIA"
Residen;al"Third@Party"Ownership"
Third-party owned market share broke 90% in Arizona and neared 90% in Colorado TPO market share fell in California in Q4 2012, but this doesn’t mean fewer systems were financed. Debt products are becoming increasingly prevalent in mature state markets.
![Page 37: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/37.jpg)
©"2012"SEIA"
Residen;al"Market"Forecast"by"State"
California will remain the largest residential market in the next four years even as the state’s primary rebate, the CSI, comes to a close. Arizona will also continue to grow despite the likelihood that incentives will be exhausted in 2013 New York and Texas will become increasingly important in the out years
![Page 38: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/38.jpg)
©"2012"SEIA"
Non@Residen;al"Installa;ons"by"State"
New Jersey was the largest non-residential market in 2011, and while new capacity increased in 2012, installations rates fell throughout the year. California was the leading non-residential market, with 307 MWdc of new capacity installed in 2012, driven by municipal installations. Massachusetts grew substantially in 2012, though growth is expected to slow in 2013 due to SREC oversupply.
![Page 39: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/39.jpg)
©"2012"SEIA"
Non@Residen;al"Forecasts"by"State"The non-residential market will experience slowed growth in 2013, but will continue to comprise an increasingly significant portion of all U.S. installations, especially in the out years California will remain the largest market in 2013 while New Jersey suffers from SREC oversupply; Massachusetts and New York will account for an increasing share of the market in the near term.
![Page 40: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/40.jpg)
©"2012"SEIA"
Installed"Prices"
Pricing by Market Segment Pricing by Project Size
![Page 41: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/41.jpg)
Next Steps for Solar in Massachusetts and Beyond
April 2013
Patrick Daly President and CEO [email protected]
Massachusetts Developer Perspective
![Page 42: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/42.jpg)
2"
North"America"is"very"early"in"the"growth"stage…"
3.1 GWs installed in 2012… up to 9 GW 2016 (GTM)? 35% CAGR through 2016 >75% non-residential
$100+ billion capital investment over next 5 years
$30 billion market in 2016
30 GWs installed through 2016 <1% of electricity generation <3% of installed electricity capacity
Significant opportunity for growth beyond 2016
0"
5000"
10000"
15000"
20000"
25000"
30000"
2008" 2009" 2010" 2011" 2012" 2013" 2014" 2015" 2016"
Cum
ulat
ive
MW
Forecasted*MW*Installed*(Source:"Bloomberg,"GTM)"
UJlity"PV" Commercial"PV" ResidenJal"PV"
April"2013"
![Page 43: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/43.jpg)
Solar PV Growth in Massachusetts
Nexamp,"Inc."" April"2013" 3"
0
20
40
60
80
100
120
140
160
180
200
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
MW
Annual Installed Capacity Cumulative Installed Capacity
![Page 44: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/44.jpg)
2013 and Beyond
Nexamp,"Inc."" April"2013" 4"
Drivers of Success
Strong, Consistent Policy Support (State and Federal)
Smooth Post-400 Transition
(Nexamp Supports SEIA Position)
![Page 45: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/45.jpg)
2013 and Beyond
Nexamp,"Inc."" April"2013" 5"
Access to Capital: “Getting it Built” Project Size: Scale of Portfolio
“Size Can Matter” Financiers: “Strategics”, Financial Institutions, Funds Financeability: “Finance Fundamentals”; Sponsorship, Project Structure, Off-taker, Credit, Other
![Page 46: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/46.jpg)
2013 and Beyond
Nexamp,"Inc."" April"2013" 6"
Key Issues to be Addressed Net Metering Credit Expansion (again)
Interconnection Queue & Timing
“Bankability” of SRECs
![Page 47: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/47.jpg)
Nexamp Solar Power. Delivered.
Nexamp,"Inc."" Nexamp"Solar"|"July"2011" 7"
As a leading solar independent power producer, Nexamp develops, builds, owns, and operates distributed and utility-scale solar projects.
• Founded in 2006.
• Largest, most experienced solar company
headquartered in Massachusetts; satellite offices
in CT, NY, RI.
• 25 MW Installed or under construction; over 75
MW under development.
• Over 200 clients served, including General Mills,
Boston Properties, Cathartes Private
Investments, University of Massachusetts,
Middlesex Savings Bank, and the U.S. Army.
![Page 48: NECEC Solar Finance Event Slides 25Apr13](https://reader033.fdocuments.in/reader033/viewer/2022042623/545f0335b1af9f750d8b4a0d/html5/thumbnails/48.jpg)
Thank You
Nexamp,"Inc."" April"2013" 8"