Over the next two weeks, leaders from around the world will convene in Paris for the United Nations Climate Change Conference, also known as COP21. This year, there is renewed, if cautious optimism about the possibility of a binding agreement among governments to act on this critical global issue.
But there’s another side to the climate change story that’s being written not in parliaments or at diplomatic summits, but in boardrooms and corporate executive suites.
In late September, I traveled to Virginia’s Eastern Shore to join Governor Terry McAuliffe and other state and local officials for his announcement of the Commonwealth’s issuance of its first permit for a new 80 megawatt solar facility that will be constructed in Accomack County. Amazon Web Services (AWS) has partnered with Community Energy to build the new installation — Amazon Solar Farm US East — and the project is expected to more than quadruple the amount of solar energy currently installed in Virginia. In his announcement, Governor McAuliffe said: “The partnership between Community Energy and Amazon Web Services, which will result in the largest solar facility in the mid-Atlantic, is indicative of the types of opportunities that my Administration is working toward through our commitment to build a new Virginia economy.”
I was speaking with a friend the other day when she asked, “What’s going on with renewable energy tax extenders this year? Are the PTC and ITC going to be extended?” As we know, the Production Tax Credit (PTC) expired at the end of 2014 and the 30 percent Investment Tax Credit (ITC) will expire at the end of 2016. That’s in addition to a dozen other energy credits affecting biofuels, electric vehicles, and energy efficiency that have also expired.
Recently, the Government of India asked ACORE and the Confederation of Indian Industry (CII) to co-host an exclusive roundtable discussion with the Honorable Piyush Goyal, Minister of State for Power, Coal and New & Renewable Energy in the Government of India to discuss financing renewable energy. The meeting was held recently on September 20, 2015, and a senior group of American and Indian industry leaders gathered to explore ways in which U.S. industry can work with the Indian government and industry to achieve Prime Minister Modi’s goals of deploying 175 GWs of new renewable energy by 2022.
First off, what is a master limited partnership (MLP) and why is it important to renewables? An MLP is a publicly traded company that is taxed as a partnership, i.e. not required to pay corporate taxes (see Figure 1).
Cold underpins our modern lifestyles, and as demographics shift, the demand for cold is booming worldwide. This represents a huge, untapped market opportunity.
America has the largest and most scrutinised economy on Earth, so you may be surprised to hear that much of its prosperity is underpinned by the need for ‘cold’.
But if you consider what it takes to transport food long distances over land and life-saving medicines to the other side of the country, or keep the people of Texas or Arizona cool, it all begins to add up.
As a speaker at New York’s annual REFF-Wall Street earlier this month, my mission has been to highlight the potential for cold technologies to become the next major growth market within the renewables sector.