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2020-02-14
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2020-02-14
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  1. “$100 per kilowatt hour. The story of solar life to date is a story of caustic lines. As I alluded to, the levelized cost of energy has come down almost 80% in terms of solar and wind over the last decade. In order to solve the biggest issue in solar, though, we need batteries to become cost-competitive as well. So when storage reaches $100 per kilowatt hour, we anticipate that solar, coupled with storage, should deliver around-the-clock energy that's both cheap and competitive with baseload generation from coal and natural gas.”

    2020-02-14 · Goldman Sachs Exchanges · Markets Update: February 14, 2020 · IDENTIFIED FROM THE TRANSCRIPT

  2. “33%. As of December in 2019, one in three Americans live in a community for which the community has committed to 100% renewables by 2050. What this means is that there's a groundswell of activity. Fortune 500 companies like Goldman Sachs and governments, municipalities, universities, that are all clamoring to deploy renewable energy and to displace fossil fuel as their number one source of power.”

    2020-02-14 · Goldman Sachs Exchanges · Markets Update: February 14, 2020 · IDENTIFIED FROM THE TRANSCRIPT

  3. “26%. For solar projects built in 2020, the projects receive a 26% dollar-for-dollar federal investment tax credit. This means that for asset owners like us, when we build a project, fully 26% of the project CapEx is paid back to us vis- ⁇-vis a tax credit. Going forward, this tax credit is slated to step down to 10% by 2022. However, lost in the policy debate around subsidizing renewables is an important fact. On an unsubsidized basis, renewable energy projects today are the cheapest form of power in most markets in the U.S. And why is this? And should this trend persist? In short, the answer is that the trend is sustainable, and we expect that the cost of solar to decline going forward. Economies of scale and efficiencies in technology should lead to a cost declines over time that far outpace any declines in subsidies. Therefore, we see a long-term supply and demand store that's quite attractive in the renewables.”

    2020-02-14 · Goldman Sachs Exchanges · Markets Update: February 14, 2020 · IDENTIFIED FROM THE TRANSCRIPT

  4. “1.5 trillion dollars. In the last five years, $1.5 trillion has been invested globally in renewable energy. Today, renewable energy accounts for roughly 10% of the global power mix. In market experts and folks on our team believe that there's runway to get to 30% by 2040. In fact, even BP recently upwardly revised its internal forecasts and believes that renewable energies will displace coal by 2040, the number one source of power in the world.”

    2020-02-14 · Goldman Sachs Exchanges · Markets Update: February 14, 2020 · IDENTIFIED FROM THE TRANSCRIPT

  5. “Absolutely. So I'm the head of investing within the Renewable Power Group in the Consumer and Investment Management Division. We invest capital on behalf of high net worth individuals and institutions in solar, wind, and storage projects.”

    2020-02-14 · Goldman Sachs Exchanges · Markets Update: February 14, 2020 · IDENTIFIED FROM THE TRANSCRIPT