Investing in the Renewable Power Market - How to Profit From Energy Transformation

Informationen zum Autor 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, Citibank, and 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. Klappentext It's easy to be entranced by dreams of a world powered entirely by renewable energy, but numerous technological, legal, political, and financial challenges stand in the way of an all-green future. Water, wind, solar, and other sustainable energy sources have great upside, but can be incredibly expensive to develop and implement. Designed to help investors, energy practitioners, students, and anyone interested in green energy to understand the costs, benefits, rewards, and limitations of renewable power today and for the foreseeable future, Investing in the Renewable Power Market evaluates the entire spectrum of energy resources?fossil-based and renewable?looking at the technical and economic issues that determine their profitability and feasibility. Sustainable energy sources have become a hot topic in recent years, but until now, no book has explored the market competition between green and traditional technologies. Beginning with an overview of renewable power projects, including a look at the current energy market, the book encompasses everything from analyzing power project economics to in-depth assessments of individual power sources ranging from solar thermal plants to nuclear energy. A cutting-edge look at the many recent developments in renewable energy technologies, the book explores how sustainable resources compare to energy produced from fossil fuels, extant energy storage technologies, energy transmission and demand-side management, and much more. Energy generated using renewable methods is radically different from other energy enterprises?it is highly regulated and the product cannot be stored?and as a result the finances involved are also unique. Designed to help readers understand the investment implications of these differences and the sure-to-be intense competition between myriad types of energy, the book provides a clear understanding of the current state of the alternative energy industry and the associated financial pros and cons for government, industry, and investors. Stressing the need to utilize multiple energy resources to meet energy demands, Investing in the Renewable Power Market explains the ongoing market battle between green and traditional sources of energy, the future of the energy market, and how to profit in both the long and short term. Zusammenfassung ? Investing in the Renewable Power Market offers a comprehensive overview of the economics of energy projects. ? It is a reality check on the time table for renewable green energy's actual financial dominance of world energy market. Inhaltsverzeichnis Acknowledgments xiii Introduction xv Chapter 1 An Overview of Renewable Power 1 It's All About Natural Gas 2 Control of CO2 Emissions is Not Currently Possible 3 Reality of Demand-Side Management 6 Summary 7 Chapter 2 Analyzing Power Project Economics 9 Regulated Utilities 9 Evaluating a Power Plant 12 Financing a Power Plant 15 H...

List of contents

Acknowledgments xiii
 
Introduction xv
 
CHAPTER 1 An Overview of Renewable Power 1
 
It's All About Natural Gas 2
 
Control of CO2 Emissions Is Not Currently Possible 3
 
Reality of Demand-Side Management 6
 
Summary 7
 
CHAPTER 2 Analyzing Power Project Economics 9
 
Regulated Utilities 9
 
Evaluating a Power Plant 12
 
Financing a Power Plant 15
 
Hedge Providers 17
 
Opportunities with Distressed Renewables 19
 
Summary 21
 
CHAPTER 3 The Challenges of Renewable Power Projects 23
 
Tax Issues 23
 
Special Exemptions 25
 
Summary 28
 
CHAPTER 4 Risk Assessment for Power Projects 31
 
Project Risk Assessment and Risk Mitigations 32
 
Precompletion Risks/Mitigants 32
 
Postcompletion Risks/Mitigants 39
 
Summary 39
 
CHAPTER 5 Exploiting Profitability of Distressed and Abandoned Municipal Power Plants 41
 
Waste-Fuel Projects Have Key Financial Advantages for Investors 42
 
Duties of Professionals in a Municipal Power Plant 42
 
The Professional Feasibility Study Engineer 44
 
Disclosures of Risks in the Bond Offering Materials 45
 
Calculation of Debt Service Coverage 50
 
Investment Opportunities at Troubled Municipal Power Plants 53
 
Summary 54
 
CHAPTER 6 Energy Storage 55
 
Cheap Energy Storage--TheMost Vital Game Changer in the World 56
 
Opening theMarket for Historic Energy Storage Financing 58
 
Categories of Energy Storage Technologies 60
 
U.S. Regional Multi-Energy Storage Collaborations 63
 
Flywheel Technology Energy Storage Has the Lowest Cycle-Life-Cost 65
 
Summary 67
 
CHAPTER 7 Shale Natural Gas and Its Effect on Renewable Power 69
 
Fracking 69
 
New Attitudes in Natural Gas 70
 
Cost of Production 72
 
Summary 76
 
CHAPTER 8 Solar PV and Solar Thermal Power Plants 77
 
The Economics of Solar Power 77
 
Financing Techniques 78
 
The Technology 80
 
Summary 82
 
CHAPTER 9 Wind Power Plants 83
 
Projects Overview 83
 
Wind Project Economics 85
 
Wind Project Power Contracting 87
 
Wind Energy Prediction 90
 
Summary 92
 
CHAPTER 10 Electric Power Transmission 93
 
Overview 93
 
Grid Input, Losses, and Exit 98
 
High-Voltage Direct Current 99
 
Controlling the Components of the Transmission System 99
 
Electricity Market Reform: Costs and
 
Merchant Transmission Arrangements 100
 
Additional Concerns 102
 
Summary 104
 
CHAPTER 11 Natural Gas Power Plants 107
 
Gas Turbine Engines 107
 
Benefits of Gas Turbine Engines 109
 
Gas Turbines and CO2 109
 
Gas Turbine Operations 110
 
Summary 111
 
CHAPTER 12 Coal-Fired Power Plants 113
 
Coal's High Output Capacity 113
 
Life of a Coal Plant 115
 
Extending Coal Plant Operations 116
 
Coal Technologies 118
 
Summary 120
 
CHAPTER 13 Biomass Energy and Biomass Power Plants 123
 
Wood Waste 123
 
Economics of Biomass 125
 
Summary 126
 
CHAPTER 14 Nuclear Power Energy Plants 127
 
Global Impact of Japan's Three Nuclear Plant Meltdowns 128
 
Comparative Costs of Energy 130
 
Key to the EIA Cost Estimates 130
 
Nuclear Power Plants' 50 Years of Electricity Globally 135
 
Required Up-Front Payment for Nuclear Waste Disposal before a New Plant's Approval 136
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Product details

• Authors: Fogarty, T Fogarty, To Fogarty, Tom Fogarty, Tom Lamb Fogarty, Fogarty Tom, Lamb, Robert Lamb, Robert Fogarty Lamb, LAMB ROBERT FOGARTY TOM
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 01.01.2012
• EAN: 9780470878262
• ISBN: 978-0-470-87826-2
• No. of pages: 224
• Series: Wiley Finance; Wiley Finance Editions; The Wiley Finance Series; Wiley Finance; Wiley Finance Editions; The Wiley Finance Series
• Subjects: Social sciences, law, business > Business > Business administration; Investment and securities, Alternative and renewable energy industries, Finance & Investments, Finanz- u. Anlagewesen, Institutionelle Finanzplanung, Institutional & Corporate Finance