Analysis of Project Finance
- Project-level finance (terms, structures, and innovations)
- Renewable energy financial policies such as feed-in tariffs, clean renewable energy bonds, and power purchase agreements
- State-of-the-market for renewable technologies
- High renewable penetration scenarios.
1603 Treasury Grant Expiration: Industry Insight on Financing and Market Implications summarized the impacts of the expiration of the Section 1603 Program of the American Recovery and Reinvestment Act, which offered project investors a cash payment equal to and in lieu of the 30% federal investment tax credit, as follows:
- Less-established renewable power developers, especially those with smaller projects, could have more difficulty attracting needed financial capital and completing their projects.
- Development of projects relying on newer or innovative technologies that lack extensive operational track records may be slowed because many tax equity investors are seen as highly averse to technology risk.
- Projects relying on tax equity financing likely will be more expensive to develop because of the transaction costs and potentially higher yields required to attract tax equity capital.
- The Technical Qualifications for Treating Photovoltaic Assets as Real Property by Real Estate Investment Trusts (REITs), NREL Technical Report (2012)
- Mobilizing Public Markets to Finance Renewable Energy Projects: Insights from Expert Stakeholders, NREL Technical Report (2012)