18 February 2021

U.S. Solar Supply Chain: Business Implications From U.S. Government Actions Against China

Editor’s Note: In recent months, the U.S. government has taken a number of actions against China that could significantly impact the global solar supply chain. The situation continues to evolve and the purpose of this article is to highlight these potential issues and likely outcomes, and discuss how impacted companies can manage the risks associated with disruption

03 February 2021

U.S. Renewables M&A: A Review of 2020 and Outlook for 2021

2020 was another strong year for U.S. renewable energy M&A, notwithstanding the dislocations caused by the global COVID-19 pandemic and a tumultuous U.S. election cycle. The industry demonstrated resilience throughout the year, and acquirers were empowered by sustained technology cost declines, comparatively stable rates of return and a heightened focus on Environmental, Social, and Governance

16 December 2020

A Clean Future for Heavy Duty Vehicle Powertrains is Within Reach

A myriad of new powertrain technologies are competing to usurp diesel as the heavy duty vehicle powertrain of choice. Of these, FTI Intelligence finds that the economic case for battery electric and hydrogen fuel cell powertrains in the US market will be favorable faster than previously expected. Our results indicate that we stand on the

08 December 2020

HYDROGEN: A Realistic Plan to Deliver on Europe’s Ambitious Strategy

Download Full Article After a few false starts, the current momentum for hydrogen is unprecedented in the technology’s lifetime. Over the past few months alone, governments around the world have come forward with ambitious strategies worth billions, analysts have converged in anticipation of significantly falling costs, and broader business and stakeholder interest has surged – especially

18 November 2020

SPAC to the Future

Download Full Article From a societal perspective, the year 2020 has heralded many changes in the way we communicate, in the way we interact, and, more generally, in the way we build relationships. From a commercial perspective, the year 2020 has heralded (or at lease resurrected) a change in the mechanism by which many earlier

10 August 2020

Hybrid Storage — A Worthy Adversary for Conventional Peakers?

Download Full Article For many years, U.S. storage and hybrid “solar + storage” projects have been a solution in search of a problem — and perhaps more importantly, a solution in search of market-based compensation mechanisms reflecting the value-added attributes a battery brings to the transmission ecosystem. Markets have accelerated that evolution, opening doors for

26 March 2020

COVID-19: Initial Impacts and Observations

The rapidly evolving COVID-19 situation has touched every industry and continues to ripple through the power and energy ecosystems. As the initial shockwaves evolve into a temporary or permanent new normal, we have already noted impacts across the value chain and expect other complications to manifest themselves, barring a quick public health and economic recovery.

03 February 2020

U.S. Renewables M&A: 2019 Review and Outlook for 2020

2019 was another strong year for renewable energy M&A, with onshore wind and solar leading the way as the standalone storage, hybrid storage and offshore wind sectors continue to emerge in the U.S.   Capital availability, robust demand and a heightened ESG environment across offtakers and institutional investors reinforces our bullish outlook on the renewables

28 March 2019

Are Opportunity Zones Truly an “Opportunity” for Renewables?

Over the last year, as renewable energy developers, owners and investors have continued to seek avenues for enhanced project returns, the concept of Opportunity Zones has gained increasing focus. At FTI Consulting, discussions with our clients and other market participants have led us to several conclusions – first, that Opportunity Zones may, in fact, represent

08 March 2018

A New Competitive Landscape Is Taking Shape: Bigger, Better and Stronger

Danish manufacturer Vestas held the title as the world’s largest supplier of wind turbines in 2017, according to preliminary findings from FTI Intelligence. The preliminary figures also show that the top five turbine OEMs, Vestas, Siemens Gamesa, Goldwind, GE and Enercon, dominated new wind installations in 2017, accounting for 62 percent of all installations, almost

31 August 2017

Near-term Domestic Challenges Driving Chinese OEMs to Internationalize

2017 is the second year of declining installations after a record year in 2015. Will this trend continue? When will the Chinese wind market bounce back? What are the strategies of Chinese turbine OEMs facing the current market downturn at home? In this Spark – Energy Insight Near-term Domestic Challenges Driving Chinese OEMs to Internationalize,

28 February 2017

IoT: Enabling Change in Wind Power

Improvements in device communication, growing data sources and falling sensor prices are accelerating the adoption of the Internet of Things (IoT) applications in industrial operations. In this Spark – Energy Insight IoT: Enabling Change in Wind Power, FTI Intelligence identifies applications of data analytics in the wind industry, factors driving IoT adoption and barriers to

21 February 2017

Vestas Returns to No. 1 Spot in Global Wind Turbine Supplier Ranking in 2016

  Danish manufacturer Vestas recaptured the title as the world’s largest supplier of wind turbines in 2016, according to preliminary findings from FTI Intelligence. This achievement was in large part due to increased installations in the U.S. market, where it overtook U.S. manufacturer GE as the No. 1 supplier. According to the findings, GE and Enercon rose to

05 January 2017

The RE100 and the Future of Corporate PPAs

Demand for sustainable energy is increasing with corporates facing growing environmental and economic pressures. In this Spark – Energy Insight The RE100 and the Future of Corporate PPAs, FTI Intelligence explores the rising corporate interest in direct sourcing of renewable energy, the influence of global initiatives, such as the RE100, and how this may impact

14 December 2016

Renewables, Trumped: Implications for the U.S. Energy Sector

Trump’s election brings significant uncertainty to the renewables industry; more clarity regarding the outlook will be derived from his appointments to energy-related federal departments. The president-elect has indicated that it is likely that both the Clean Power Plan and the Paris Agreement will be revoked, however the fate of the investment and production tax credits

28 November 2016

Is Battery Storage Commercially Viable in the UK Today?

The global capacity of storage technologies (excluding pumped hydro) has increased by factor of nine in the past decade. In this Spark – Energy Insight Is Battery Storage Commercially Viable in the UK Today? FTI Intelligence assesses the commercial viability of battery storage in the UK today and finds that the market is on the

14 November 2016

UK Policy Should Promote Learning to Reveal Lifetime Technology Costs

The UK must build at least 20 GW of new electricity generation capacity by 2020. This is equivalent to replacing 30 percent of current power plants. In this Spark – Energy Insight UK Policy Should Promote Learning to Reveal Lifetime Technology Costs, FTI Intelligence explains the options available to meet carbon emissions targets in addition

24 October 2016

Tesla & SolarCity: As Easy as Pie?

From the day it was announced, Tesla’s bid to acquire SolarCity faced deep skepticism from the media, market commentators and investors themselves. While audiences continue to debate the outcome of the proposed merger, consensus sentiment remains negative. In this Spark – Energy Insight Tesla & SolarCity: As Easy as Pie? FTI Intelligence carefully evaluates the

19 September 2016

The Impacts of U.S. Nuclear Retirements Under the EPA’s Clean Power Plan

Nuclear energy is an important source of carbon-free electric power generation in the U.S. The EPA’s Clean Power Plan (CPP) sets aggressive carbon reduction targets for the electric power sector but fails to recognize the economic, regulatory and political challenges that face the nuclear industry. In this Spark – Energy Insight The Impacts of U.S.

16 September 2016

Repowering of Wind Assets: Opportunities and Challenges

As interest in wind energy continues to grow strongly in both existing and new markets, significant volumes of capacity are starting to reach the end of their designed life spans. In this Spark – Energy Insight Repowering of Wind Assets: Opportunities and Challenges, FTI Intelligence considers what options operators have in respect of these older

21 July 2016

EEG 2017 – Shaking Up the EU’s Largest Wind Power Market

The EEG, Germany’s Renewable Energy Sources Act, has played a fundamental role in making Germany Europe’s largest wind market. To tap more of Germany’s renewable potential while having the cost limited at the economically necessary level, Bundestag, the German parliament, has just approved the EEG reform that will come into effect in January 2017. In

06 July 2016

The Rise of the Corporate PPA in Europe?

The corporate PPA market has grown dramatically in the US, but this growth has not been mirrored within Europe. In this Spark – Energy Insight The Rise of the Corporate PPA in Europe? FTI Intelligence provides analysis on the reasons Europe is lagging behind the US, how these obstacles are being overcome and how we

30 June 2016

Let the Sparks Fly: The (Net) Meter Is Running on Tesla’s Bid for SolarCity

Investors and commentators alike were caught off-guard by Tesla’s offer to purchase SolarCity – but should they have been? In this Spark – Energy Insight Let the Sparks Fly: The (Net) Meter Is Running on Tesla’s Bid for SolarCity, FTI Intelligence examines the key financial, operational and regulatory challenges and implications of combining both companies.

14 June 2016

Evolution of the Corporate PPA

The Corporate PPA market has expanded considerably in recent years especially within the US. In this Spark – Energy Insight Evolution of the Corporate PPA, FTI Intelligence provides analysis on the evolution of the Corporate PPA market and how the market for these agreements may evolve in the future, including a look at recent innovative structures.

02 June 2016

Brexit’s Impacts on the UK’s Energy Market

Leaving the EU suggests three clear options with the best one staying within the Internal Energy Market (IEM). However, this may be dependent on accepting other options on immigration policy politically unpalatable to the Brexit camp. Whatever happens, a potentially damaging period of uncertainty looks inevitable. Ahead of the referendum on the 23rd of June,

29 March 2016

US Offshore Wind Finally Poised for Take Off

Offshore wind power generation has been on a rise worldwide ever since DONG Energy erected the first offshore wind farm in Vindeby, Demark in 1991. When the US Energy Policy Act of 2005 established an offshore leasing process, directed by the Bureau of Ocean Energy Management, it appeared that offshore wind would shortly take off

16 March 2016

The US Utility War Against Net Metering

Net metering has been a key driver in the adoption of residential and commercial PV, however, changes to net metering programs are being considered all across the US, and there will be wins, losses and new fees. These will potentially significantly impact the deployment of residential solar in the US. Announcements in key states California,

25 February 2016

EU Energy Security – Reboot 2.0

Taking its first step towards the delivery of the Energy Union, on 16 February, the European Commission presented its Energy Security Package. With the aim of bolstering security of supply, the package sets out a wide range of measures to strengthen the European Union’s resilience to gas supply disruptions and takes yet another small step

17 February 2016

New Argentina Government Opens Up Fresh Push for Wind Power

Argentina has one of the best wind energy resources in the world, but development of its potential has been frustrated by economic instability and hostility to private sector investment in the energy sector. Recently elected President Mauricio Macri has pledged to make Argentina “open for business” after years of the country having near pariah status

29 January 2016

Siemens’ Acquisition of Gamesa Would Create Global Turbine Giant

German industrial company Siemens is reportedly in talks to buy Spanish-owned wind OEM Gamesa. If successful, such a move would create the world’s biggest wind turbine manufacturer and allow Siemens to outstrip Vestas, GE and China’s Goldwind. FTI Intelligence examines the strategic factors that would favor such a move for Siemens and its potential impact

25 January 2016

Corporate Renewable PPAs Shaking Up Energy Markets

In 2015, US corporations contracted 2GW of renewable energy capacity through Power Purchase Agreements (PPAs). FTI Intelligence takes a deep dive into the corporate PPA market to examine a key emerging customer grouping for the wind and solar industries in this Spark – Energy Insight, Corporate Renewable PPAs Shaking Up Energy Markets.

04 January 2016

After the Storm – What’s Next for US Yieldcos?

The market, especially in North America, has been spooked by a combination of liquidity concerns, low energy prices, interest rate volatility and broader questions about the potential for long-term growth in the yieldco sector. Given the plunging share prices, is the value in these enterprises salvageable, or is the market telling us that the yieldco

10 December 2015

Is Bigger Better for Newly Created Wind Gearbox Giant ZF?

In December 2015, German industrial group ZF officially announced the acquisition of the industrial gears and wind turbine gearbox divisions of Bosch Rexroth AG. This acquisition is the second transaction that ZF has made in the wind sector. FTI Intelligence examines the potential impact of ZF’s acquisition in this Spark – Energy Insight, Is Bigger

07 December 2015

The Only Way Is Down – Does It Get Any Better Than This for the Wind Industry?

Following the financial collapse and years of slow growth, share prices for the major listed wind OEMs are now at six-year highs. Financial performance and margins are close to peak levels last seen in 2008/9. The question is can they still go higher and propel further share price growth? FTI Intelligence discusses industry expectations and

30 November 2015

The Future of UK Wind After the Government’s Energy Policy “Reset”

The Secretary of State for Energy and Climate Change delivered a speech aimed at “re-setting” UK energy policy. The rhetoric favored more thermal gas generation and new nuclear capacity, shifting away from support for renewable energy. However, there was also a commitment to completely phase out coal fired generation by 2025. In this Spark –

02 November 2015

Siemens/SEC Partnership Troubles Delaying Development of Chinese Offshore Wind Market

Barely five months after the product launch ceremony, Siemens has decided to terminate its joint ventures with Shanghai Electric (SEC). However, Siemens has licensed technology to SEC in an attempt to keep a foothold in the world’s largest wind market. In this Spark – Energy Insight Siemens/SEC Partnership Troubles Delaying Development of Chinese Offshore Wind

20 October 2015

South Africa: Renewables Surge as Country Struggles With Coal Legacy

Since August 2011, South Africa has relied on a competitive bidding process, the Renewable Energy Independent Power Producer Procurement (REIPPP) program, to add renewables capacity. The REIPPP has received international acclaim and attracted a host of international renewable players. However, South Africa’s renewable development faces challenges on three major fronts: grid constraints; the government’s coal

09 October 2015

Nordex – The Acquisition of AWP Shows Compelling Strategic Logic at a Good Price

Nordex announced that it was acquiring rival manufacturer Acciona Windpower (AWP), a subsidiary of Spanish infrastructure and energy group Acciona. In this Spark – Energy Insight Nordex – The Acquisition of AWP Shows Compelling Strategic Logic at a Good Price, FTI Intelligence evaluates the new competitive position of Nordex with respect to product range, technology,

28 September 2015

Political Storm Clouds Threaten Brazil’s Renewables Boom

Brazil’s renewable power sector continues to show strong growth. However, the wider political and economic scene is increasingly having an effect on the variables that have made Brazilian renewables so successful. A series of corruption allegations involving Brazil’s president has disrupted government funding, and the country is now officially in a recession due to a

22 September 2015

The Energy Internet of Things (IoT) Moves Toward Scale

The Internet of Things (IoT) is a ubiquitous term for a growing set of products that will contribute to households becoming ever more connected through the internet. Impacting the utility market are smart thermostats, which could reach a market value of $2.21 billion by 2022. In this Spark – Energy Insight The Energy Internet of

03 September 2015

SolarCity Growth Targets Dependent on Buffalo Facility

SolarCity, the leading US residential solar installer, is on track to meet its target of one million customers in 2018. The success of its plans depends on the establishment of its manufacturing facility in Buffalo, NY. This facility will allow the company to reduce production, O&M and logistics costs. In this Spark – Energy Insight

27 August 2015

Remote Offshore Wind Farms Outperforming Expectations

Full load hours define the time that a turbine would spend at full load, if it always operated at that level. A high value for full load hours indicates strong and consistent wind conditions. This metric is a key parameter that drives the value and profitability of an offshore wind turbine. For wind farms with

17 August 2015

UK Government Opens the Door to Retroactive Tariff Cuts

The UK renewable sector has been hit with rapid changes to renewable subsidy regimes since the Conservatives won a strong election victory. The Department of Energy and Climate Change (DECC) has stated that there will be no retroactive changes to tariffs for any technologies, however the removal of Levy exemption certificates and grandfathering rights for

13 August 2015

When a Yieldco Is Not Yielding…Caveat Emptor?

The yieldco phenomenon is a recent innovation in financing clean energy projects. Investor demand is driven by a relatively high dividend yield compared to current equity and bond yields. The industry remains in infancy with only 15 yieldcos worldwide listed, mostly over the past two years and 14 total expected futures. The US listed yieldcos

06 August 2015

Rush to Capitalize on Higher FiTs Puts Chinese Grid Further Under Strain

Based on the Chinese Wind Energy Association (CWEA) installation figures for 1H 2015, China saw a 40.8 percent growth compared to the same period in 2014. According to the CWEA, the key driver for the growth is the change in onshore Feed-in tariffs (FiT) announced by the National Development and Reform Commission (NDRC) in January

30 July 2015

China’s “Belt and Road” Initiative to Boost Chinese Wind Turbine Exports

The “Belt and Road” initiative refers to the Silk Road economic belt and the 21st century maritime Silk Road. This initiative shows the political will to support Chinese companies doing business abroad. For the Chinese wind industry, the initiative is a real benefit in solving one of the major challenges facing the domestic market: excess