This Is Easy: Making Clean Energy Abundant and Affordable in a Hurry
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This is Easy: Making Clean Energy Abundant and Affordable in a Hurry Reed Hundt, CEO, Coalition for Green Capital Inside Energy 2014 September 17, 2014
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CGC CEO Reed Hundt gives keynote speech at Inside Energy Summit New York City September 17, 2014
Transcript of This Is Easy: Making Clean Energy Abundant and Affordable in a Hurry
This is Easy: Making Clean Energy Abundant and Affordable in a Hurry
Reed Hundt, CEO, Coalition for Green Capital
Inside Energy 2014
September 17, 2014
Washington, D.C.
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202.777.7700SolarCity can storm into new markets
0%
22%
28%
32%
2011 2012 2013 2014
SolarCity Connecticut Residential Solar Market Share
2Source: http://www.energizect.com/residents/programs/residential-solar-investment-program.
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202.777.7700SolarCity cumulative MW doubles every 12 months
170
332
648
Q1 2012 Q1 2013 Q1 2014 Q1 2024
SolarCity Cumulative MW Deployed
3
Sources: SolarCity SEC Filings
Q1 2024
700,000
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202.777.7700Consumers are Kings! Demand grows markets rapidly
4Source: Mary Meeker, 2014 Internet Trends, Kleiner Perkins Caufield Byers, May 28, 2014.
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202.777.7700Only took a decade for half U.S. to adopt internet
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0%
14%
26%
42%
55%
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
% of Households with Internet Use
Sources: U.S. Census Bureau, Current Population Survey
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202.777.7700IT investment followed demand
$0
$50
$100
$150
$200
$250
$300
$350
$400
$450
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
Annual IT Investment in U.S. (billions)
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Sources: http://www.csls.ca/data/Summary%20with%20List%20Final%202013.pdf
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202.777.7700Income grew across all households during this period
7Source: U.S. Census Bureau, Current Population Survey, Annual Social and Economic Supplements.
44%
39% 39% 39%
44%
Lowest Quintile Second Quintile Third Quintile Fourth Quintile Highest Quintile
Household Income Growth from 1993-2001 by Quintile
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202.777.7700DG solar business model disrupts utilities
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TPO/Installer InvestorsFed & State
Government
DG Solar Customer
Debt/Equity
Return
Grants & Credits
Solar Electricity
PPA/LeasePayments
Fundamental Flow of Money for DG Solar
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202.777.7700Apple iPhone business model disrupts telecom utility
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Verizon Sells iPhone
InvestorsVerizonWireless
iPhone Customer
Debt/Equity
Return
Upfront Subsidy
iPhone at Subsidized
Price
Reduced Payment &
Service Contract
Fundamental Flow of Money for iPhone Sale
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202.777.7700This is easy, $200B per year pays for clean power platform
Clean Bioenergy, $40
Hydro, $23
Wind, $20
Solar PV, $17
Solar Thermal, $4Geothermal, $3
Desired Annual U.S. Clean Energy Investment (bn)
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Renewables $107
Efficiency $88
Source: Robert Pollin, Heidi Garrett-Pelitier, James Heintz, and Bracken Hendricks, “Green Growth – A U.S. Program for Controlling Climate Change and Expanding Job Opportunities,” Center for American Progress and Political Economy Research Center at UMass Amherst, September 2014.
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Finance & Tax Policy
Return
Green banks must sustain distributed solar for next decade
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Fundamental Flow of Money for DG Solar With Green Bank
TPO/Installer InvestorsGreen Bank
DG Solar Customer
Debt/Equity
Return
Solar Electricity
PPA/LeasePayments
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202.777.7700Green bank development spreading
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Complete or In Process Green Banks or Similar Programs
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202.777.7700Need renewables in high emissions states
13Sources: http://grist.org/article/2010-03-17-if-it-does-matter-where-co2-is-released-cities-are-in-trouble/
Carbon Emissions from Fossil Fuels
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202.777.7700Plenty of sun for distributed solar
14Sources: http://tyconpower.com/learning_center/insolation-map.png
Hours of Peak Sun per Day
Thank You
Comments and Questions:
Jeffrey Schub, VP, Coalition for Green Capital
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