Currents

In this discussion, guests Jack Cargas, Elizabeth Waters, Ralph Cho, and Rubiao Song—industry veterans in tax equity and project finance—delve into the burgeoning landscape of renewable energy financing. They reveal that tax capital for renewable projects is projected to soar to $33 billion by 2025. Key topics include navigating hybrid tax equity complexities, legal intricacies in project qualifications, and trends in solar financing shaped by tax incentives. They also explore the evolving lender dynamics in project finance amid changing market conditions.

Amy Duffuor, co-founder and general partner of Azolla Ventures, brings her expertise in climate tech and impact investing to the table. She dives into the innovative strategies in venture capital aimed at combating climate change, especially within hard-to-abate sectors like maritime shipping. Discussion includes the cutting-edge advancements in green methanol technology and the importance of articulating impact to attract investors. Duffuor also highlights emerging opportunities in renewable energy, from decarbonizing rice cultivation to enhancing wastewater treatment.

Michelle Demers, CEO of Boundless Impact and Analytics, sheds light on vital data analytics for investors grappling with climate risks. She discusses the complexities of measuring sustainability and the rise of greenwashing, advocating for third-party verified assessments. The conversation dives into lifecycle assessments in clean tech, addressing costs and regulatory compliance. Demers also navigates the intricacies of carbon credit markets and touches on how political shifts could influence clean technology policies, focusing on potential impacts of the Inflation Reduction Act.

Stefan Reisinger, a partner at Norton Rose Fulbright, delves into the new anti-dumping duties on solar panels imported from Southeast Asia. He explains how these duties, prompted by a petition from the American Alliance for Solar Manufacturing, could reshape import costs and practices. The discussion reveals the complexities of tracing supply chains regarding silicon and solar cells. Reisinger also highlights the implications for project developers, including retroactive tariffs and their impact on contract negotiations.

In this discussion, Chris Seiple, vice chairman of energy transition and power & renewables at Wood Mackenzie, dives into the surging electricity demand in the U.S., driven by data centers and electric transportation. He highlights the need for a robust renewable energy capacity while grappling with the economic and logistical challenges of scaling green technologies. The conversation also touches on the potential of small modular reactors as a nuclear solution and the hurdles faced by the energy sector amid growing demands and outdated infrastructure.

Five prominent stock analysts discuss how they expect policy changes in the wake of the Trump victory to affect renewable energy, storage, transmission, RNG and other parts of the energy transition sector. The five are George Gianarikas, managing director and senior analyst, Canaccord Genuity, Joe Osha, senior managing director for equity research, Guggenheim Partners, Phil Shen, managing director and senior research analyst, Roth Capital Partners, Whitney Stanco, managing director and senior policy analyst, Compass Point Research & Trading, and Paul Zimbardo, managing director and energy research analyst, Jefferies. The moderator is Keith Martin in Washington.

Michael Catanzaro, CEO of CGCN Group and former energy policy aide to Trump, joins David Kautter, RSM's federal tax leader, and Joe Mikrut of Capitol Tax Partners. They discuss the implications of recent elections on renewable energy policies. Key topics include the future of the Inflation Reduction Act, potential risks for tax credits like the PTC and ITC, and how shifts in corporate tax rates could affect renewable energy investments. The conversation also covers evolving energy security strategies and the role of regulations in shaping the energy landscape.

Leslie Biddle, Deputy Under Secretary for Commercialization and Finance, and Art Scavone, Senior Advisor to the Under Secretary for Infrastructure, join us to discuss the DOE-lender relationship and the soon to be released Government-Creditor Agreement. Links for more information on the Government-Creditor Agreement: Government-Creditor Agreement | Department of Energy, and to learn about the Under Secretary for Infrastructure: Meet the Office of the Under Secretary for Infrastructure | Department of Energy.

David Burton, partner at Norton Rose Fulbright, joins us to give an update on the tax credit transferability market.

Akshat Kasliwal, managing consultant at PA Consulting, joins us to give his thoughts on the thermal and renewables markets.