Acknowledgments
Introduction
Chapter 1 An Overview of Renewable Power
It's All About Natural Gas
Control of CO2 Emissions Is Not Currently Possible
Cogeneration as a CO2 Control Technology
Reality of Demand Side Management
Summary: Renewable Power Plants Compete in a World of Operating Fossil Power Plants and Currently Inexpensive Natural Gas
Chapter 2 Analyzing Power Project Economics
Regulated Utilities
Evaluating a Power Plant
Financing a Power Plant
Hedge Providers
Opportunities with Distressed Renewables
Summary: Understanding the Energy Business Means Knowing How a Power Plant Can Be Financed and Hedged
Chapter 3 The Challenges of Renewable Power Projects
Tax Issues
Passive Loss
Special Exemptions
Master Limited Partnerships (MLPs)
Leveraged Lease Structure
“Partnership Flip” Transactions
New Market Tax Credits (NMTCs)
Summary: Renewable Projects Only Produce a Small Amount of EBITDA They are Dependent on Leveraging the Tax Code
Chapter 4 Risk Assessment for Power Projects
Project Risk Assessment and Risk Mitigations
Pre-Completion Risks/Mitigants
Post-Completion Risks/Mitigants
Summary: For Either Fossil or Renewable Power Projects, Understanding and Managing Risk during Development, Construction and Operation is Critical
Chapter 5 Exploiting Profitability of Distressed and Abandoned Municipal Power Plants
Waste-Fuel Projects Have Key Financial Advantages for Investors
Duties of Professionals in a Municipal Power Plant
The Professional Feasibility Study Engineer
Disclosures of Risks in the Bond Offering Materials
Calculation of Debt Service Coverage
Investment Opportunities at Troubled Municipal Power Plants
Summary: Municipal Bond Backed Power Plants Can Be Area for Investment Opportunity
Chapter 6 Energy Storage
Cheap Energy Storage -- The Most Vital Game Changer in the World
Categories of Energy Storage Technologies
U.S. Regional Multi-Energy Storage Collaborations
Flywheel Technology Energy Storage Has the Lowest Cycle-Life-Cost
Summary: Since Renewable Power Plants Don’t Supply Power 7 Days a Week/24 Hours a Day, Their Future Success Will be Determined by Energy Storage
Chapter 7 Shale Natural Gas and Its Effect on Renewable Power
Fracking
New Attitudes in Natural Gas
Liquefied Natural Gas (LNG)
Cost of Production
Summary: Shale Gas Has Challenged the Economics of Coal, Renewable Power, and Demand Side Management
Chapter 8 Solar PV and Solar Thermal Power Plants
The Economics of Solar Power
Financing Techniques
The Technology
Summary: Solar Power Has Two Main Technologies and Faces a Number of Challenges Including a Large Land Requirement
Chapter 9 Wind Power Plants
Projects Overview
Wind Project Economics
Wind Project Tax Attributes
Investment Tax Credit versus Production Tax Credit
Wind Project Power Contracting
Transmission Constraints
Opportunities with Distressed Wind Projects
Wind Energy Prediction
Summary: Wind Projects Have a Low Capacity Factor and are Dependent on Tax Benefits
Chapter 10 Electric Power Transmission
Overview
Underground Transmission
Bulk Power Transmission
Grid Input, Losses and Exit
High Voltage Direct Current
Controlling the Components of the Transmission System
Load Balancing
Failure Protection
Electricity Market Reform: Costs and Merchant Transmission Arrangements
Additional Concerns
Affects on Health
Government Policy
Super Conducting Gables
Security of Control Systems
Summary: Renewable Projects are Often Located in Remote Areas and are Dependent on Transmission to Serve Load
Chapter 11 Natural Gas Power Plants
Gas Turbine Engines
Benefits of Gas Turbine Engines
Gas Turbines and CO2
Cogeneration
Gas Turbine Operations
Summary: Renewable Projects Have to Compete in a World with Natural Gas Fired Power Plants
Chapter 12 Coal Fired Power Plants
Coal's High Output Capacity
Life of a Coal Plant
Extending Coal Plant Operations
Coal Technologies
Summary: The Technical and Economic Issues of Coal Plants Have to be Understood in Order to Evaluate Renewable Power Plants
Chapter 13 Biomass Energy and Biomass Power Plants
Wood Waste
Economics of Biomass
Summary: Biomass is a Renewable Technology that Enjoys a High Capacity Factor
Chapter 14 Nuclear Power Energy Plants
Global Impact of Japan's Three Nuclear Plant Meltdowns
Comparative Costs of Energy
Key to the EIA Cost Estimates
Nuclear Power Plants' 50 Years of Electricity Globally
Required Upfront Payment for Nuclear Waste Disposal before a New Plant's Approval
Asia Will Lead the Next Shift to Nuclear Power Plant Development
China's New Nuclear Re-processing Is A Vast Expansion of Atomic Fuel
Summary: Nuclear Power Faces a Capital Cost and Ongoing Local Approval Challenge
Chapter 15 Hydro Power Plants
A Unique Renewable Technology
Hydro Power and RECs
Engineering Report
Operations and Maintenance (“O&M”) Costs
Relicensing
Hydro Power Economics
Summary: Hydro Plants Have a Low Environmental Impact and Can Have a High Capacity Factor
Chapter 16 Geothermal Power Plants
Steam Technology
Geothermal Project Costs
Hydrothermal Power Systems
Ground Source Heat Pumps
Standing Column Wells
Enhanced Geothermal Systems
Co-production of Geothermal Electricity in Oil and Gas Wells
Direct Use of Geothermal Energy
Summary: For a Renewable Power Technology, Geothermal Power Plants Have High
Availabilty and Have to Also Compete Against Shale Gas
Chapter 17 Energy Efficiency and Smart Grid
Demand Side Management (DSM)
Rewarding Efficiency
Advanced Meter Infrastructure (AMI)
Increasing Energy Needs
Summary: The Smart Grid Has a Large Future Potential and Also Has to Compete Against Shale Gas
Conclusion
Where Do We Stand Today in Terms of Renewable Energy?
Appendices
About the Authors
Index
