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Opportunities in Greater Phoenix Presented by Greater Phoenix Economic Council Communities of Distinction. Together Greater Phoenix. Americas Greatest.

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Presentation on theme: "Opportunities in Greater Phoenix Presented by Greater Phoenix Economic Council Communities of Distinction. Together Greater Phoenix. Americas Greatest."— Presentation transcript:

1 Opportunities in Greater Phoenix Presented by Greater Phoenix Economic Council Communities of Distinction. Together Greater Phoenix. Americas Greatest Upside. Maricopa County Phoenix Mesa Glendale Scottsdale Chandler Gilbert Tempe Peoria Surprise Avondale Goodyear Buckeye Fountain Hills Queen Creek Maricopa Tolleson Wickenburg

2 The Greater Phoenix Economic Council (GPEC) The Regions Economic Development Authority A true regional model where public and private members collaborate to promote Greater Phoenix as a great place to grow business. Supported by Maricopa County, 18 cities and towns, and more than 140 private-sector businesses. The catalyst that strengthens the regions economic base, ensuring it is both diversified and competitive.

3 Average daily solar insolation RPS comparison A Prime Location for Solar Companies

4 Greater Phoenix An emerging market for solar : Greater Phoenix is an emerging market for solar technology firms, anchored by world-class companies like First Solar, Kyocera, Stirling Energy Systems, SolFocus and SolarCity.

5 Arizonas technical potential for concentrating solar power is nearly 2.5 TW. Prime Location for Solar Power Generation Business Case for Arizona and Greater Phoenix Source: National Renewable Energy Laboratory Well-positioned to generate solar power for export to high-cost markets like California, meeting peak demand and Renewables Portfolio Standard (RPS) requirements. Average Daily Solar Insolation. Arizonas average of 321 days of sun each year provides enough solar energy to power the U.S.

6 Prime Location for Solar Power Generation Business Case for Arizona and Greater Phoenix

7 Utility-scale generation Distributive demand Transmission policy Innovation and talent Market Opportunities

8 Market Opportunities for Solar Companies GENERATION in Arizona and Greater Phoenix One of the Worlds Largest Solar Plants Abengoa Solar partnering with Arizona Public Service (APS) to build Solana a 280 MW CSP parabolic trough plant on 1,900 acres in Gila Bend. $4B in clean electricity to be sold, and $1B in economic benefits reaped by the state. APS to Get Power from Future Solar Plant Lockheed Martin and Starwood Energy Group are constructing a 290 MW solar power plant 75 miles west of Phoenix. Spanish Firm to Build a 200 MW CSP Plant Near Kingman. Albiasa Solar has chosen Arizona for its first U.S. presence.

9 Market Opportunities for Solar Companies GENERATION in Arizona and Greater Phoenix Arizona Utilities Lead Solar Venture APS, Salt River Project and Tucson Electric Power announced 250 MW utility consortium solar project. By 2025, Arizona utilities will have produced nearly 67-million MWh of renewable energy, or enough electricity to power 500,000 homes.

10 Market Opportunities for Solar Companies DEMAND in Arizona and Greater Phoenix Notable Commercial Projects ASU installing seven megawatts of photovoltaic capacity on roof tops of buildings and parking garages Frito Lay has 201 KW installation on Phoenix facility – company's largest U.S. distribution center. Gatorade installing 500 KW system on its distribution facility – largest rooftop solar project in state. i/o Data Centers planned 4.5 MW of solar power to supplement its energy needs.

11 Market Opportunities for Solar Companies TRANSMISSION in Arizona and Greater Phoenix Arizona Corporation Commission Actively developing plan to build robust transmission system designed to import and export renewable energy in Arizona. Adopted one of most ambitious, generous net metering policies in U.S. Only state establishing net metering requirement with no aggregate limit on number of MW.

12 Market Opportunities for Solar Companies INNOVATION and TALENT in Arizona and Greater Phoenix One of only four U.S. universities to receive five Dept. of Energy awards for research in next-generation PV technology. Suntech panels are in the 1.8 MW PV project at ASU making it one of the largest university installations in nation. Home to worlds first School of Sustainability (Global Institute of Sustainability). ASU received the highest possible Green Rating (99%) by Princeton Reviews for its environmentally- friendly policies, practices and curricula. University Innovation

13 Photovoltaic Testing Lab TUV Rheinland PTL and ASU have the only U.S. lab accredited for PV design qualification and type approval. Advanced Photovoltaics Center Focuses on disruptive and revolutionary technologies for power conversion based on non-traditional ultra-high efficiency, low-cost solar cells. Solar Power Laboratory Led by national solar energy research experts from around the world. Market Opportunities for Solar Companies INNOVATION and TALENT in Arizona and Greater Phoenix

14 Arizona is the 4 th largest market for semiconductor employment o Nearly 27,000 semiconductor jobs Deep-bench for management talent o Technology spin-offs like ON Semiconductor, Freescale Semiconductor and General Dynamics were berthed from Motorola talent. o Intel is another critical source for key leadership in small tech enterprises. Market Opportunities for Solar Companies INNOVATION and TALENT in Arizona and Greater Phoenix

15 Alternative and Sustainable Technologies Unique Value Proposition: State Incentives Incentives in Arizona Reduced property tax rate for renewable energy equipment. Solar Energy Tax Credit provides income tax credit for the installation of solar energy devices in Arizona business facilities. Foreign Trade Zone allows qualifying companies to have real and personal property taxes assessed at 5% of full cash value (instead of 23%), resulting in a 78% abatement. Enterprise Zone program enhances opportunities for private investment in certain areas. A company located in an Enterprise Zone may receive tax credits by creating new quality jobs. The recently expanded Research and Development Income Tax Credit awards qualified research and development conducted in Arizona. SB 1403, a bill passed in the Arizona legislature that offers refundable corporate income tax credits and reduced real and personal property taxes to qualifying companies. Personal Property (machinery, equipment or other personal property) used in manufacturing, health care or other commercial operations is exempt from transaction privilege tax. Accelerated Depreciation encourages new capital investment and reduces personal property tax liability. Sales Factor gives multi-state corporations the option of choosing either an 80% sales factor or a double-weighted sales factor apportionment method to compute Arizona taxable income.

16 TypeCriteriaProject ExampleCalculation ManufacturingCreates at least 1.5 jobs per $500,000 in capital investment $150M in capital investment 1,273 jobs $150M x 10% = $15M HeadquarterCreates at least 1 job per $200,000 in capital investment $10M in capital investment 50 jobs $10M x 10% = $1M Market Opportunities for Solar Companies UNIQUE VALUE PROPOSITION in Arizona and Greater Phoenix New Solar Legislation The Renewable Energy Tax Incentive Program reduces property tax burden on solar and other renewables manufacturers. Benefits Refundable corporate income tax credit of up to 10% of project capital investment (for qualified projects) Real and Personal Property Tax Reduction For project investment greater than $25M, an effective property class reduction of 77%.

17 Questions Thank You for Your Time! 602.256.7700 www.gpec.org Follow us on Twitter @GPEC info@gpec.org


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