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Researched by Industrial Info Resources (Sugar Land, Texas)--Renewable energy development is growing across the U.S., but is likely to follow a familiar pattern this year, according to the U.S. Energy Information Administration (EIA): The fourth quarter will be the busiest for onshore wind and solar photovoltaic (PV) capacity additions. Industrial Info is tracking more than $16.5 billion in U.S. wind- and solar-based power-generation projects that are set to finish construction in the fourth quarter, with more than $11.5 billion worth set to wrap up in December.
Click on the image at right for a graph detailing the top 10 U.S. states for wind- and solar-power completions projected for the fourth quarter, by investment value.
Since 2010, about 43% of all onshore wind capacity and 33% of all solar PV capacity have been added in December, on average, according to the EIA. The timing likely is incentivized by the production tax credit (PTC) for wind energy and the investment tax credit (ITC) for solar. Under current law, wind facilities that begin construction before the end of 2019 may qualify for the PTC, but the tax credit is set to expire at the end of the year. Whether the PTC is extended or modified has yet to be decided by the U.S. Congress.
The uncertainty surrounding the PTC may be one of the factors driving the surge in wind-power completions set for the end of the year: To date, 2012 had the most onshore wind capacity additions of any year, when the PTC originally was set to expire; shortly after 2013 began, Congress extended the credit through 2019, albeit at reduced rates.
Among the wind-energy projects scheduled to wrap up at the end of this year are a pair in Iowa from MidAmerican Energy Holdings Company (Des Moines, Iowa), a subsidiary of Berkshire Hathaway Incorporated (NYSE:BRK.A) (Omaha, Nebraska): a $600 million windfarm near Orient, which will generate 300 megawatts (MW) from 150 turbines, and the $500 million Arbor Hill Windfarm near Stuart, which will generate 250 MW from 125 turbines. For more information, see Industrial Info's reports on the Orient and Arbor Hill projects.
The Hawkeye State historically has been a leader in windfarm projects, but more recently it has been falling behind Texas in investment: the Lone Star State is looking at more than $2.9 billion worth of fourth-quarter completions, while Iowa is looking at about $2.6 billion. Big-ticket projects set to wrap up in Texas include Enel Green Power North America's (Andover, Massachusetts) $600 million High Lonesome Wind project near Ozona, which is expected to generate 211 MW via 66 turbines; Quinbrook Infrastructure Partners' (Houston) $480 million Ranchero Windfarm in Ozona, which will generate 250 MW from 100 turbines; and Avangrid Renewables' (Portland, Oregon) $460 million Karankawa Windfarm in Tynan, which will generate 286 MW from 114 turbines.
Both projects in Ozona saw their completion dates pushed back from earlier this year. For more information, see Industrial Info's reports on the High Lonesome, Ranchero and Karankawa projects.
The ITC for solar projects is looking at a longer life than the PTC, but only by two years: the tax credit for residential solar expires at the end of 2021, while the commercial credit drops from 22% to a permanent 10%. Not surprisingly, California leads all other states in solar-power projects set to wrap up at the end of the year, fueled by some of the most generous state-level incentives available; these include SunEdison LLC's $300 Million addition at its Mount Signal Solar Farm in Calexico, California, which is under construction after years of delays. It will generate 200 MW from First Solar Incorporated's (NASDAQ:FSLR) thin-film PV arrays. For more information, see Industrial Info's project report.
The sunny state of Georgia is home to two of the highest-valued solar projects set to wrap up in December: Invenergy LLC's (Chicago, Illinois) $320 million solar farm near Camilla, which will generate 160 MW, and NextEra Energy Incorporated's (NYSE:NEE) (Juno Beach, Florida) $300 million solar farm near Quitman, which will generate 150 MW. For more information, see Industrial Info's reports on the Camilla and Quitman projects.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
Click on the image at right for a graph detailing the top 10 U.S. states for wind- and solar-power completions projected for the fourth quarter, by investment value.Since 2010, about 43% of all onshore wind capacity and 33% of all solar PV capacity have been added in December, on average, according to the EIA. The timing likely is incentivized by the production tax credit (PTC) for wind energy and the investment tax credit (ITC) for solar. Under current law, wind facilities that begin construction before the end of 2019 may qualify for the PTC, but the tax credit is set to expire at the end of the year. Whether the PTC is extended or modified has yet to be decided by the U.S. Congress.
The uncertainty surrounding the PTC may be one of the factors driving the surge in wind-power completions set for the end of the year: To date, 2012 had the most onshore wind capacity additions of any year, when the PTC originally was set to expire; shortly after 2013 began, Congress extended the credit through 2019, albeit at reduced rates.
Among the wind-energy projects scheduled to wrap up at the end of this year are a pair in Iowa from MidAmerican Energy Holdings Company (Des Moines, Iowa), a subsidiary of Berkshire Hathaway Incorporated (NYSE:BRK.A) (Omaha, Nebraska): a $600 million windfarm near Orient, which will generate 300 megawatts (MW) from 150 turbines, and the $500 million Arbor Hill Windfarm near Stuart, which will generate 250 MW from 125 turbines. For more information, see Industrial Info's reports on the Orient and Arbor Hill projects.
The Hawkeye State historically has been a leader in windfarm projects, but more recently it has been falling behind Texas in investment: the Lone Star State is looking at more than $2.9 billion worth of fourth-quarter completions, while Iowa is looking at about $2.6 billion. Big-ticket projects set to wrap up in Texas include Enel Green Power North America's (Andover, Massachusetts) $600 million High Lonesome Wind project near Ozona, which is expected to generate 211 MW via 66 turbines; Quinbrook Infrastructure Partners' (Houston) $480 million Ranchero Windfarm in Ozona, which will generate 250 MW from 100 turbines; and Avangrid Renewables' (Portland, Oregon) $460 million Karankawa Windfarm in Tynan, which will generate 286 MW from 114 turbines.
Both projects in Ozona saw their completion dates pushed back from earlier this year. For more information, see Industrial Info's reports on the High Lonesome, Ranchero and Karankawa projects.
The ITC for solar projects is looking at a longer life than the PTC, but only by two years: the tax credit for residential solar expires at the end of 2021, while the commercial credit drops from 22% to a permanent 10%. Not surprisingly, California leads all other states in solar-power projects set to wrap up at the end of the year, fueled by some of the most generous state-level incentives available; these include SunEdison LLC's $300 Million addition at its Mount Signal Solar Farm in Calexico, California, which is under construction after years of delays. It will generate 200 MW from First Solar Incorporated's (NASDAQ:FSLR) thin-film PV arrays. For more information, see Industrial Info's project report.
The sunny state of Georgia is home to two of the highest-valued solar projects set to wrap up in December: Invenergy LLC's (Chicago, Illinois) $320 million solar farm near Camilla, which will generate 160 MW, and NextEra Energy Incorporated's (NYSE:NEE) (Juno Beach, Florida) $300 million solar farm near Quitman, which will generate 150 MW. For more information, see Industrial Info's reports on the Camilla and Quitman projects.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
