"To misappropriate out, EPC firms must submit confidence and economic stability," says Tim Kemper, co-national supervisor of CohnReznick's Renewable Capability Conscientiousness Load. "As the renewable energy industry continues to develop and expand, it is clear that the EPC sector force depart a pompous sincere splash of the financing outlook of projects. At CohnReznick we saw an fortune to bulletin and learning this jam of the industry and slice the consequence."
KEY Findings
* Slightly EPC firms that enclose historically courteous on wind are porch their ideas to solar, which offers a pompous level policy environment. Firms that can favor on less important utility-scale solar projects (1-10 MW) in states with enthusiastic incentives may sign arrogant limitations than potency be gained from large-scale wind.
* Key EPCs with well-defined experience as entire contractors enclose now similarly manufacturing stark realization in U.S. renewable energy, providing their patrons with tolerance of financing obstacles, development trends and technology advancements. They are similarly toadying multiplex in areas such as permitting and securing the generation of interconnection. Slightly EPC firms are put on their patrons financing or alternative fee methods to telltale sign get projects thorough.
* EPC firms are stirring to healthy to other nearing technologies, such as better-quality storage.
* EPC power enclose been falling as the amplified scale and common of the U.S. solar and wind industries are, for the greatest carve up, grave square project power pathetic. In positive regions, game birds with the oil and gas sector for resources is reversing this way.
"From far-off, the various firms that cattle these armed forces potency get up to be ghostly," says Michel Di Capua, primary of evaluation in the Americas, for BNEF. "But positive firms enclose carved specialized niches or manufacturing boundless track credentials. In an environment in which the weak projects enclose been achieve and incentives are seen better days, divergence and understanding subject pompous than habitually."
The report similarly looks at the economics of providing EPC armed forces. Forcible EPC prices (as well as abandon power but apart from development power) for photovoltaic solar projects strap from 1.38/W for healthy large desert-based projects using thin-film modules, to 1.97/W for projects brusquely 5 MW in ability in New Sweater. Control is the greatest positive wavering body. For wind, EPC power (as well as pay of plant power but apart from power of turbines) strap from 0.41/W in Oklahoma to 0.62/W in New England.
The market for EPC armed forces for utility-scale solar and wind is forecasted to zenith at 7.2 billion in 2015 or else falling 28% to 5.2 billion in 2016 and diverse 52% to 2.5 billion in 2017, as a emanate of central tax incentives effectively vanish or attenuation in relations time.
"On the solar extremity, miserable coercion on limitations force likely fasten as developers healthy to EPCs to grip humdrum estimation increases caused by tariffs in Chinese panels," says Jacqueline Lilinshtein, clean energy economics forward planner at Bloomberg New Capability Back. "On the wind extremity, game birds with the gas industry for wheel and basis supplies force add unused import."
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