Sector leaders reaffirm need for long-term policy support to unlock untapped capital, expansion
For Immediate Release - September 17, 2013
San Francisco, CA - At the Renewable Energy Finance Forum-West (REFF-West), hosted this week in San Francisco by the American Council On Renewable Energy (ACORE) and Euromoney Energy Events (EEE), more than 60 experts from the public and private sectors as well as the renewable energy industry addressed a gathering of over 400 delegates brought together to explore the rapidly evolving landscape of research, innovation, and market access that is driving the industry's future.
According to ACORE’s newly released Western Region Report, nearly all existing renewable energy technologies are well suited for deployment in the West. Solar, wind, hydro, marine, geothermal, and a wide assortment of biofuels are all in the mix of potential resources. In addition, the West benefits from some of the best solar resources in the country, responsible for roughly 65% of the nation’s solar photovoltaic capacity and 86% of the nation’s solar thermal electric capacity. Finally, wind power projects have been built in every Western state. In fact, California and Oregon rank in the top five states for wind power capacity.
“If there was ever any doubt that the West is leading the way on renewable energy production, distribution, and scalability, that was put to rest over the past two days. Every conceivable renewable energy source is represented here, and that makes western energy portfolios that much more stable and secure,” explained Michael Brower, ACORE’s Interim President and CEO. “I believe that our industry presents a solid investment opportunity to create a more secure, prosperous America. And not just in the West. Ours is an industry that will continue to innovate, create more jobs, lower our carbon emissions, and strengthen America's energy future for decades to come."
Spanning a range of renewable and clean energy technologies, with a particular focus on developments in the Western U.S., topics covered at this week’s REFF-West included project financing, venture capital, renewable power generation, emerging commercial technologies, and established technologies. “Renewable energy growth has no limits here in the West. This is where innovation and investment are propelling market access and driving down costs,” added Dan Adler, Managing Director of the California Clean Energy Fund (CALCEF), REFF-West and ACORE Board of Directors Co-chair. “There has never been a better time to get involved in the renewable energy sector - either here in the West or nationwide.”
The consensus of industry leaders at REFF-West was that the industry's sustained long term growth remains dependent upon a sensible multi-year approach to investor incentives. The industry as a whole has grown at a tremendous pace due to the massive amount of new technologies coming online and being allowed into the marketplace. Now is the time for large scale-ups of renewables to bring costs in-line with legacy power sources to grow the renewables’ relatively limited piece of the overall energy pie.
“We are absolutely delighted to see that the REFF-West conference has once again grown in terms of delegates, sponsorship, and exhibitors. This is testimony to the vitality of the renewable energy industry on the West Coast,” concluded Henry Hely Hutchinson, Managing Director at Euromoney Energy Events. “And by the looks of things and listening in on all of the great panels over the past two days, I am certain that both western-based renewable energy and REFF-West will be back and bigger than ever next year. Renewable energy is here to stay. In the West and across the U.S.”
REFF-West is the largest renewable energy finance conference focused on West Coast energy issues. It is hosted by the American Council On Renewable Energy (ACORE) and Euromoney Energy Events, a London-based wholly owned subsidiary of Euromoney Institutional Investor PLC. For more information, please visit www.reffwest.com.
ACORE, a 501(c)(3) non-profit membership organization, is dedicated to building a secure and prosperous America with clean, renewable energy. ACORE seeks to advance renewable energy through finance, policy, technology, and market development and is concentrating its member focus in 2013 on National Defense & Security, Power Generation & Infrastructure, and Transportation. Additional information is available at www.acore.org.
About Euromoney Energy Events:
Euromoney Energy Events, part of Euromoney Institutional Investor PLC, is a leading international events company that organizes high-profile conferences for clean energy professionals worldwide. Our diverse portfolio of events brings together senior delegates from the renewable energy and cleantech industries with investors, financiers, and other professionals. The Renewable Energy Finance Forum (REFF) series was launched in 1999 in London, and has since grown into a portfolio of internationally renowned events that take place annually in seven cities spanning Europe, the US, Asia and Latin America. These include REFF Wall Street (New York), REFF London (London), and REFF West (San Francisco). Additional information is available at www.euromoneyenergy.com.