3 Agenda Introduce the SunSpec Alliance U.S. solar market outlook Trends driving the smart inverter marketOpportunities for integratorsQ & A
4 Now 60+ members strong, SunSpec has com a long way. In the past four years, we have approved and published 10 specifications, and have several new ones in the works.SunSpec’s latest contributions to the industry include specifications for cybersecurity, inverter control, and plant data reporting.All specifications are available for free download and implementation from SunSpec.org,I am happy to report that SunSpec standards have been adopted both commercially and in the international standards community.We are united in our effort to establish a common language for the industry.
9 More PV Installed in Q4 2013 Than All of 2011 SoMore PV Installed in Q Than All of 20112013: 4,751 MW 140,000 installations$13.7B market sizeSource: Greentech Research, April 2014Source: GTM Research/SEIA U.S. Solar Market Insight
10 National Market Is Forming Source: Greentech Research, April 2014Source: GTM Research/SEIA U.S. Solar Market Insight
11 But Concentration Remains In A Few States 2013 InstallationsResidentialNon-ResidentialSource: Greentech Research, April 2014Source: GTM Research/SEIA U.S. Solar Market Insight
12 Audience Poll #2 How big was the U.S. solar market in 2013?
14 Professional Investing Era Has Started “SolarCity Securitization Deal Jolts Solar Energy Industry”“NRG Yield IPO ‘could transform access to capital’”“SolarCity Announces Pricing of Second Securitization”“SunEdison up 9% on ‘yieldco’ IPO news”
15 U.S. RE Industry Needs A Lot Of Capital Source: Financing U.S. Renewable Energy Projects Through Public Capital Vehicles: Qualitative and Quantitative Benefits (2013); Mendelsohn, M. Feldman, D.
16 Most Capital Unavailable to RE Investment Source: The CityUKSource: The CityUK
17 Public Capital Vehicles Could Lower LCOE 8-16% Source: Financing U.S. Renewable Energy Projects Through Public Capital Vehicles: Qualitative and Quantitative Benefits (2013); Mendelsohn, M. Feldman, D.
18 Early Commercialization Finance Gap Transitional Assistance Needed
19 Solar Access To Public Capital Initiative GoalsCover early commercialization gapInvestigate way to expand capital baseLower costs of RE financingResultsIdentified public market mechanismsSecuritizationMaster Limited PartnershipsDelivered standard documents & processesEngaged 250 investors & developersInitiated “mock” securitizationDownload:
21 California Rule 21 Changes Coming Rule 21 defines how solar plants connect to the gridNew revision permits smart invertersTo “support” the gridEnable new services & revenue streamsSet stage for U.S. rollout
23 EPRI/SunSpec California Solar Initiative Smart Inverter Test & Certification Program Supported by leadersSMA, FroniusSCE, SMUDSandia, ULDemo full integrationTechnical controlsMarket signalsUtility networksEnables broad deploymentSets stage for U.S. roll outHarmonizes safety standards