Investing in the Renewable Power Market How

The future of renewable energy, and how to navigate the legal, political, and financial roadblocks to investment successThe business of generating electricity is vastly different from other enterprises in that it is highly regulated and its product can't be stored. The combination greatly affects the finances of renewable power and influences how investors should navigate the energy market. The first book to cover the major investing challenges and monetary constraints placed on electric power companies as they race to meet their green energy requirements, Investing in the Renewable Power Market also: Details the challenges facing green energy, such as its cost being priced to natural gas which is at historic lows Analyzes real energy costs and the global demand for energy over the next decade Describes why, in the short term, investment opportunities with renewable power will be with financial and operational restructuringsThe energy market is currently facing a situation of enormous expectations that, due to the constraints placed on it, cannot possibly be supported. Investing in the Renewable Power Market explains the real costs of energy, the future of the energy market, and how to profit in both the long and short term.

Thomas Fogarty has spent his entire career managing energy industry project development and financing electric power projects. He has written an editorial in the Daily Bankruptcy Review and has been quoted on the many current challenges facing renewable power.

Robert Lamb is a Professor at New York University's Stern School of Business and a management consultant. He was previously strategy advisor and debt advisor to the New York State Power Authority and, over the past twenty-five years, has developed and taught customized courses for investment banks and corporations, including Goldman Sachs, Deutsche Bank, Merrill Lynch, Morgan Stanley, and Citibank American Express. Dr. Lamb has written numerous books and contributed chapters on the financing of public power projects and is a founding member of Standard & Poor's Academic Counsel of Advisors.

Acknowledgments	p. XIII
Introduction	p. xv
An Overview of Renewable Power	p. 1
It's All About Natural Gas	p. 2
Control of CO₂ Emissions is Not Currently Possible	p. 3
Reality of Demand-Side Management	p. 6
Summary	p. 7
Analyzing Power Project Economics	p. 9
Regulated Utilities	p. 9
Evaluating a Power Plant	p. 12
Financing a Power Plant	p. 15
Hedge Providers	p. 17
Opportunities with Distressed Renewables	p. 19
Summary	p. 21
The Challenges of Renewable Power Projects	p. 23
Tax Issues	p. 23
Special Exemptions	p. 25
Summary	p. 28
Risk Assessment for Power Projects	p. 31
Project Risk Assessment and Risk Mitigations	p. 32
Precompletion Risks/Mitigants	p. 32
Postcompletion Risks/Mitigants	p. 39
Summary	p. 39
Exploiting Profitability of Distressed and Abandoned municipal Power Plants	p. 41
Waste-Fuel Projects Have Key Financial Advantages for Investors	p. 42
Duties of Professionals in a Municipal Power Plant	p. 42
The Professional Feasibility Study Engineer	p. 44
Disclosures of Risks in the Bond Offering Materials	p. 45
Calculation of Debt Service Coverage	p. 50
Investment Opportunities at Troubled Municipal Power Plants	p. 53
Summary	p. 54
Energy Storage	p. 55
Cheap Energy StorageùThe Most Vital Game Changer in the World	p. 56
Opening the Market for Historic Energy Storage Financing	p. 58
Categories of Energy Storage Technologies	p. 60
U.S. Regional Multi-Energy Storage Collaborations	p. 63
Flywheel Technology Energy Storage Has the Lowest Cycle-Life-Cost	p. 65
Summary	p. 67
Shale Natural Gas and Its Effect on Renewable Power	p. 89
Fracking	p. 69
New Attitudes in Natural Gas	p. 70
Cost of Production	p. 72
Summary	p. 76
Solar PV and Solar Thermal Power Plants	p. 77
The Economics of Solar Power	p. 77
Financing Techniques	p. 78
The Technology	p. 80
Summary	p. 82
wind Power Plants	p. 83
Projects Overview	p. 83
Wind Project Economics	p. 85
Wind Project Power Contracting	p. 87
Wind Energy Prediction	p. 90
Summary	p. 92
Electric Power Transmission	p. 93
Overview	p. 93
Grid Input, Losses, and Exit	p. 98
High-Voltage Direct Current	p. 99
Controlling the Components of the Transmission System	p. 99
Electricity Market Reform: Costs and Merchant Transmission Arrangements	p. 100
Additional Concerns	p. 102
Summary	p. 104
Natural Gas Power Plants	p. 107
Gas Turbine Engines	p. 107
Benefits of Gas Turbine Engines	p. 109
Gas Turbines and CO₂	p. 109
Gas Turbine Operations	p. 110
Summary	p. 111
Coal-Fired Power Plants	p. 113
Coal's High Output Capacity	p. 113
Life of a Coal Plant	p. 115
Extending Coal Plant Operations	p. 116
Coal Technologies	p. 118
Summary	p. 120
Biomass Energy and Biomass Power Plants	p. 123
Wood Waste	p. 123
Economics of Biomass	p. 125
Summary	p. 126
Nuclear Power Energy Plants	p. 127
Global Impact of Japan's Three Nuclear Plant Meltdowns	p. 128
Comparative Costs of Energy	p. 130
Key to the EIA Cost Estimates	p. 130
Nuclear Power Plants' 50 Years of Electricity Globally	p. 135
Required Up-Front Payment for Nuclear Waste Disposal before a New Plant's Approval	p. 136
Asia Will Lead the Next Shift to Nuclear Power Plant Development	p. 137
China's New Nuclear Reprocessing Is a Vast Expansion of Atomic Fuel	p. 139
Summary: Nuclear Power Faces a Capital Cost and Ongoing Local Approval Challenge	p. 141
Hydropower Plants	p. 143
A Unique Renewable Technology	p. 143
Hydropower and RECs	p. 145
Hydropower Economics	p. 149
Summary	p. 151
Geothermal Power Plants	p. 153
Steam Technology	p. 153
Geothermal Project Costs	p. 155
Hydrothermal Power Systems	p. 156
Ground-Source Heat Pumps	p. 156
Standing Column Wells	p. 158
Enhanced Geothermal Systems	p. 158
Direct Use of Geothermal Energy	p. 159
Summary	p. 161
Energy Efficiency and Smart Grid	p. 163
Demand-Side Management	p. 163
Advanced Meter Infrastructure	p. 166
Increasing Energy Needs	p. 167
Summary	p. 169
Conclusion	p. 171
Where Do We Stand Today in Terms of Renewable Energy?	p. 175
	p. 177
DTC's Coal vs. Natgas Displacement Model Methodology, January 6,2009	p. 183
DTC's Coal/Natgas Displacement Model Methodology	p. 183
How Much Natgas Is Needed to Displace Coal?	p. 190
About the Authors	p. 193
Index	p. 195
Table of Contents provided by Ingram. All Rights Reserved.

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Investing in the Renewable Power Market How to Profit from Energy Transformation

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