In the Spotlight
- 14 June 2018 - 15 June 2018
- The Pride Plaza, New Delhi
- 17 May 2018 - 18 May 2018
- Holiday Inn New Delhi International Airport
- 11 April 2018 - 13 April 2018
- Hotel Mirage, Mumbai
- 11 May 2018 - 11 May 2018
- Kolkata, West Bengal
- 23 February 2018 - 23 February 2018
- Hotel The Mirage
French President Emmanuel Macron told a sustainable finance conference on Thursday that Europe needs to set a minimum price for emitting carbon.
“We need a European price floor for carbon. I know it won’t be easy, there will be resistance from all around”, he said.
The policy has been much discussed in policy and financial circles in recent years, but has yet to bear sufficient fruit. The EU’s Emissions Trading Scheme has been widely criticised for not being efficient enough. There are also separate carbon prices in different European countries, which aren’t joined up.
Reuters also reports that President Macron also told the summit that France would stick to its previous commitment of increasing the price of carbon within its own jurisdiction to 84 euros per tonne in 2022, up from the current 44 euros.
Macron also suggested that a portion of the EU budget should be spent on making the transition to a low-carbon economy, stating: “I think a target of 40 percent of the budget would allow for this transition to be ambitious rather than measured, as it is today.”
The French President has carved out a role for himself as a climate leader since his election last May. Along with pushing for stronger policies and funding for renewables, Mr. Macron also convened the One Planet Summit in Paris, designed to accelerate financing behind sustainability and climate change.
The European Commission’s President, Jean-Claude Juncker, was also present at the conference to promote the EU’s new Action Plan on sustainable finance. He echoed Macron’s sentiments on climate, saying that “Europe's financial sector must lead the green transition and make our Union the global destination for sustainable investment. There is no greater return on investment then a healthy planet and economy."
Agriculture has a significant role in Africa as it employs 65% of the work force and contributes 32% of GDP, according to the World Bank.
Similarly, approximately 70% of Africa's population depend directly on agriculture for their livelihood.
However, the African agricultural industry is currently facing a number of problems with low productivity. This has been compounded by climate change, a lack of technical expertise and the migration of young people away from rural areas and into cities.
Africa is currently experiencing a rapid growth in population, with estimates suggesting by 2050 the population for Africa will reach 2.2 billion. The ability of African farmers to increase productivity is critical in order to provide food and economic growth to support its growing population.
The Food and Agriculture Organisation (FAO) predicts that the agricultural market in Sub-Saharan Africa alone will grow from $200 billion in 2015 to $1 trillion by 2030. This equates to a fivefold growth.
Entrepreneurs in Africa are increasingly seeing opportunities in the agricultural sector and are developing solutions that enable farmers to increase their yields and access markets. Globally, agricultural tech start-ups raised $800 million in the last 5 years.
Investors have also recognised the potential of Africa’s agricultural industry as there is potential to reach a large market. According to Disrupt Africa’s recently released African Tech Start-ups Funding Report 2017, agri-tech start-ups received US$13.2 million in funding last year, the fourth largest of any sector.
This was an increase of 203% from 2016. The rapid growth of agri-tech business in Africa is demonstrated by the increase of over 13 million in funding since just 2015, where funding was $50,000.
Much of the funding in 2017 went to Twiga Foods which raised $10.3 million. Launched in 2014, Twiga Foods uses technology to consolidate the fragmented purchasing power of urban retailers, by delivering better quality and better priced stock.
Grant Brooke, Twiga Foods chief executive officer (CEO) commented:
“Agriculture is one of the largest, and most untapped by technology, sectors of the economy. I think investors are targeting agriculture because it’s a huge market that touches just about everyone”
In recent years technology such as cloud computing, open-source software and digital tools have become increasingly affordable and accessible to farmers. The market is changing as entrepreneurs can provide solutions to small holder farmers at affordable prices.
Technological developments in such as aerial imagery from drones or satellites, weather forecasts and soil sensors are making it easier for farmers to manage their crops in real time.
In addition, financial solutions are evolving to connect small holder farmers with credit, financial institutions and greater market access.
Technological advancements in agriculture provide vast potential for farmers, entrepreneurs and investors to improve the productivity and efficiency of agriculture in Africa at a time when numerous factors, such as population growth and climate change, threaten food security.
Our sister organisation, Aid & International Development Forum, is hosting its inaugural Africa Climate Smart Agriculture Summit on 15-16th May 2018 in Nairobi, Kenya. The summit will discuss innovations and challenges in CSA practices, increasing cross industry collaboration for CSA, financial investment for CSA and much more.
Image: Mike Hutchings
The UK has decided to stop plans for a new opencast coal mine because it would “adversely impact upon measures to limit climate change”.
The application for the new mine had initially been approved by the local council in Northumberland, but was ‘called-in’ for review by the Minister for Local Government, Sajid Javid.
On Friday, Mr Javid announced his refusal of the coal mine citing the need to prevent dangerous climate change as one of the main considerations.
The project, called Highthorn, was to be located near Druridge Bay in northeast England. It had the potential to extract up to 3 million tonnes of coal over 250 hectares of land.
In a letter to The Banks Group which made the application the Secretary of State said that “the effects of carbon in the atmosphere would have a cumulative effect in the long term, (and) given that cumulative effect, and the importance to which the Government affords combatting climate change, he concludes that overall the scheme would have an adverse effect on Green House Gas emissions and climate change of very substantial significance”.
The Secretary of State made the announcement on Twitter
Friends of the Earth, which mobilised thousands of campaigners to oppose the scheme, said the decision was “a significant victory for local residents and the climate”.
Campaigner Rose Dickinson, continued: “It means an important step forward has been taken in ending the era of fossil fuels”.
“This is the first coal mine ever to be rejected in the UK because of climate change impacts – a vindication for everyone who has been calling for fossil fuels to be left in the ground”.
The UK was one of the first countries to announce a plan to phase-out all coal-fired power plants, which it intends to do by 2025.
The country also has strict targets to reduce carbon emissions under the Paris Agreement, but also by its own legally binding Climate Change Act. The legislation commits the UK to reducing carbon emissions to below 80 percent of 1990 levels by 2050.
Photo Credit: Bert Kaufmann/Flickr
The latest step towards the large-scale transition to electric vehicles was signalled this week.
Car giants Ford and the Mahindra Group have agreed to work together on developing a new EV for the huge Indian market, but potentially for sale elsewhere.
The two companies signed five separate, non-binding memoranda of understanding (MoU) which will develop their strategic alliance and the co-development of new products, including a small electric vehicle.
“Today’s announcement is the next step in the collaboration between Mahindra and Ford,” said Dr Pawan Goenka, Managing Director, Mahindra and Mahindra Ltd. “Both teams are working together on joint development areas in keeping with industry requirements and leveraging mutual strengths”
The partnership also extends to developing a new sports utility vehicle (SUV) and connected car solutions.
Jim Farley, Ford’s executive vice president said that electrification was one of the “key focus areas” for the car giant.
“Ford is committed to offering the best vehicles, technologies and services that fit the lifestyles and preferences of Indian consumers”, he said.
“Listening to our customers and incorporating their future needs is the core premise of this collaboration”.
Automobile companies are facing increasing pressure to move away from polluting forms of transport to combat climate change and air pollution.
It is hoped that with the support of Ford and Mahindra, as major manufacturers in a huge emerging market, such as India, could accelerate the technology even further.
Car companies have been quick to announce their intentions to convert to electric vehicles in the face of policy pressure, decreasing sales of diesel and cost reductions in battery technology.
Earlier this month, the Renault-Nissan-Mitsubishi Alliance announced plans to upgrade its cars to new battery technology by 2025. It faces tough competition from Toyota and BMW in the new market.
Saturday 24 March. 8:30pm your time. Earth Hour 2018 is here.
The global movement to switch off lights in a symbolic show of appreciation, and concern, for our planet will reach tens of millions of people, and hundreds of well-known public buildings.
The Eiffel Tower is going dark for one hour. So is the Empire State Building and Sydney Opera House. Surely we can do the same?
Founded in 2007 by the World Wildlife Fund (WWF) in Sydney, the movement saw participation from more than 180 countries last year. In the UK alone, 9 million people took part.
This year, WWF is asking participants to make a promise to do something for the planet. This could be something as simple as refusing plastic cutlery or turning your washing down to 30C. It is also encouraging people to talk about what the Earth means to them by sharing stories online.
“Nature is in alarming decline. Halting its loss is urgent and crucial as much as tackling climate change,” says Marco Lambertini, Director General, WWF International.
“Biodiversity and nature is the foundation of life, essential to our wellbeing. Yet, we continue to take nature for granted while our actions are pushing it to the brink”
“This Earth Hour, we want to shine a light on the importance of biodiversity and nature. Together, as individuals, businesses and governments, we must show the same determination to halt biodiversity and nature loss as we have shown on climate action to secure a healthy, thriving and living planet for all”, he added.
Take a look at the events happening near you.
And if you’re on social media, use the hashtags #EarthHour or #Connect2Earth to share your story.
A vast area of plastic waste in the ocean, located between California and Hawaii, is much larger than previously estimated, and growing rapidly.
The area, dubbed the Great Pacific Garbage Patch, contains up to sixteen times more plastic than originally estimated, according a new study led by scientists at The Ocean Cleanup Foundation.
The work is the result of three years of intensive mapping of the area using six vessels, two aircraft and 3D sensor technology. The amount of plastic in the zone has now been updated to contain 1.8 trillion pieces weighing 80,000 metric tons, across an area of 1.6 million square kilometres. This is roughly three times the size of continental France.
94 percent of the plastics in the area were categorised as microplastics, defined as objects between 0.05cm and 0.5cm. However, these objects only made up a small portion of the overall mass of the site, which was accounted for by larger items of 5cm, or greater.
“We were surprised by the amount of large plastic objects we encountered", said Dr. Julia Reisser, Chief Scientist of the expeditions. "We used to think most of the debris consists of small fragments, but this new analysis shines a new light on the scope of the debris.”
The research comes at a time of heightened action and awareness of plastic waste in the world’s oceans. In recent months, governments and businesses have set targets to eradicate the use of plastics and convert to more sustainable alternatives.
Boyan Slat, Founder of The Ocean Cleanup and co-author of the study, said the new research would help advance the foundation’s conservation work: “These results provide us with key data to develop and test our cleanup technology, but it also underlines the urgency of dealing with the plastic pollution problem. Since the results indicate that the amount of hazardous microplastics is set to increase more than tenfold if left to fragment, the time to start is now.”
Photo Credit: NOAA
There has been a significant growth in the availability of satellite data in recent years, providing access to information on air quality, soil composition, ocean currents, and seismic activity.
Satellite images offer a 3D view of the earth and a close to real time analysis.
Experts argue that sustainable agriculture and food security processes are limited by a lack of information. Satellite data fills this gap while also offering the potential to map deforestation, urbanisation and flooding.
Satellite technologies provide a new solution to the world’s rapidly increasing population and food demands.
Nagaraja Rao Harshadeep, lead environmental specialist and global lead for watersheds at the World Bank commented:
“There’s an opportunity to try and do things in a way we couldn’t even dream of just a few years ago. A real paradigm shift is happening in terms of the kinds of activities that we can support now using a lot of these new technologies."
For agriculture, satellite technology could be critical, farmers and agricultural organisations will be able to make informed decisions based on historic patterns and a better understanding of present day issues.
A new satellite technology has been launched today that harnesses the latest earth observation and satellite technology to help Kenya, Senegal, Sierra Leone, Ghana and Tanzania address food security, agriculture issues, deforestation and water access.
The ‘African Regional Data Cube’ was developed by the Committee on Earth Observation Satellite (CEOS) alongside the Group on Earth Observations, Amazon Web Services and Strathmore University in Kenya.
The Deputy President of Kenya, H.E William Ruto said Kenya will use the data cube to inform food security processes, a pillar of its 'Big Four' priorities alongside manufacturing, healthcare and affordable housing.
Thanks to the data cube, the government will gain a better understanding of crop distribution, seasonality and use of agricultural land in rural areas.
H.E William Ruto added:
"This technology will help us understand month by month how our land is being used so that we can target interventions aimed at improving our actions against climate change, help smallholder farmers and secure sustainable food and water for our citizens".
Although satellite data has existed for many years, the recent growth in its availability and ease of use has provided governments with a new tool to meet key development challenges.
Vast quantities of freely available satellite data offers a key opportunity to improve agricultural production, food security and access to water.
Our sister community, Aid & International Development Forum, is hosting its inaugural Africa Climate Smart Agriculture Summit on 15-16th May 2018 in Nairobi, Kenya. The summit will discuss innovations and challenges in Climate Smart Agriculture practices, increasing cross industry collaboration and financial investment for Climate Smart Agriculture and more.
Know an innovative project that hopes to establish or further Climate Smart Agriculture initiatives? Nominate it for our CSA Project of the Year Award.
Carbon emissions emitted into the Earth’s atmosphere grew by 1.4 percent in 2017, reaching a historic high of 32.5 gigatonnes.
This is the headline figure from a new report from the International Energy Agency (IEA), which also found that global energy demand grew by 2.1 percent over the past year. Energy usage has been bolstered by renewed consumption in China and India, which made up 40 percent of the overall increase.
72 percent of this new demand was met by fossil fuels while renewables managed to meet one quarter.
The increase in carbon emissions is a resumption of growth after three years of global emissions remaining stationary, and the first since the landmark Paris climate agreement was signed. However, some notable exceptions came from major nations; declines were found in the United States, United Kingdom, Mexico and Japan.
The IEA noted that the United States saw a decline of 0.5 percent, the third year in a row that emissions have dropped, largely attributable to the decline of coal-fired power plants and the increase in renewables. Emissions in the UK dropped by 3.8 percent.
“The robust global economy pushed up energy demand last year, which was mostly met by fossil fuels, while renewables made impressive strides,” said Dr Fatih Birol, the IEA’s Executive Director. “The significant growth in global energy-related carbon dioxide emissions in 2017 tells us that current efforts to combat climate change are far from sufficient. For example, there has been a dramatic slowdown in the rate of improvement in global energy efficiency as policy makers have put less focus in this area”.
The news should provide a wake-up call to the international community as calls to accelerate the transition to a low-carbon economy are more pressing than ever. Research published in the past week alone has shown that ditching fossil fuels sooner rather than later could save over 150 million lives.
In addition, the World Bank has warned that reducing carbon emissions now could prevent millions of people from becoming ‘climate migrants’ in order to make a living.
Christiana Figueres, the UN’s former climate change chief, who helped negotiate the Paris Agreement, has called on cities, governments and businesses to massively increase their investments in the green bond market.
Speaking at the annual Climate Bonds Initiative conference in London, Ms. Figueres said the financial sector should be aiming “to reach 1 trillion investments in green bonds by 2020” and that “the decarbonisation of the economy has to happen as soon as possible”, according to reports.
She was attending the event to launch a new Green Bond Pledge, which binds signatories to work towards a strategy which uses green bonds to make infrastructure and capital projects climate resilient.
“When green investments move from business plans into budgets and balance sheets a wealth of opportunity will be unlocked across the value chain. Organizations committing to the Green Bond Pledge will benefit from these opportunities and help the necessary acceleration of capital flows - before 2020 - to deliver a sustainable future for everyone.”, she said.
The pledge has been developed by a range of international climate finance and sustainability groups, including CDP, Ceres, NRDC, and California's Governor's Office.
The current green bonds market stands at $155 billion, but is predicted to increase to at least $200 billion by the end of 2018. The aspiration to reach $1 trillion would, therefore, mean a five-fold increase in the market within two years.
Ms. Figueres made the remarks in London this week
Patricia Espinosa, who took over from Ms. Figueres as Executive Secretary of UN Climate Change said that green bonds “are among an array of exciting and rapidly growing, new financial instruments” which can help meet the goals of the Paris climate agreement.
“I warmly welcome the Pledge as one among many inspiring new initiatives that will launch climate action in 2018 to the next level of ambition”.
Mindy Lubber, CEO and President of the investor-focussed NGO, Ceres, also commented: "We (have) sent a clear message that infrastructure and capital projects of all kinds must address environmental issues and climate risk and that green bonds are an ideal financing vehicle when such projects need to be financed in the debt market. By delivering on this simple ask, we will continue to develop a critical market that will support investors and other capital market leaders in mitigating the impacts of climate change."
Photo Credit: Farzaan Kassam
This year is the 15th anniversary of World Water Day, which is designed to highlight the vital importance of something many in the developed world take for granted: freshwater.
The UN estimates that 2.1 billion people in a world of 7 billion lack access to safe drinking water. And this figure could grow by another 2 billion out to 2050.
The major water crisis that is unfolding in Cape Town where the city has taken to drastic measures to respond to the worst drought it has faced in history.
If so-called ‘Day Zero’ takes place, the city runs out of water in nearby reservoirs will force millions of taps to be shut off in homes and businesses.
This year’s theme is ‘Nature for Water’, which encourages people to look at solutions to maintaining and sourcing clean drinking water throughout nature.
An annual report released by the UN’s special water division this week states that utilising natural processes, such as soil moisture retention, or building new wetlands, can help take the pressure off areas suffering from water scarcity.
“We need to deal with the water paradox,” said Erik Solheim, head of UN Environment, while discussing nature-based solutions. “Water is the essence of life, but we don't save it enough. It’s time to change mindsets, it’s not about development versus the environment.”
It’s hoped that taking tips from nature can be cost-effective, efficient and restore degraded ecosystems.
And, of course, climate change has a major role to play in the water crises around the world through increasing the likelihood of extreme weather events, such as drought and storms, which destroy infrastructure and cause large-scale crop failure.
Take a look at the events taking place around the world to celebrate the day; from walks and dances, to lectures and film screenings.
And if you’re on social media, share stories and thoughts using the hashtags: #WorldWaterDay, or #EveryDrop.
The World Bank has warned that climate change could push tens of millions of people in the developing world to migrate both inside and outside their own countries.
The Bank analysed the impact of ‘slow-onset’ climate change and migratory patterns in three developing regions in the world: Sub-Saharan Africa, South Asia, and Latin America. These slow impacts included water stress, crop failure and the rise in sea levels, which could cause inhabitants to move to more viable areas in order to make a living.
Analysts stated that unless urgent action is taken to mitigate against climate change and develop strong development policies in response, these regions could see 143 million new climate migrants. The focus on slow-onset impacts rather than higher ones, such as hurricanes and floods, also means the estimate is at the low end. However, concerted efforts to make these regions more climate resilient could reduce this figure by up to 80 percent.
The Bank’s modelling of the demographics, economies and climate susceptibility of these regions helped identify certain hotspots for migration. For example, within East Africa a high level of migration was expected from bodies of water, such as Lake Victoria, which currently sustains millions of livelihoods.
The World Bank’s Chief Executive Officer, Kristalina Georgieva, commented: “We have a small window now, before the effects of climate change deepen, to prepare the ground for this new reality”
“Steps cities take to cope with the upward trend of arrivals from rural areas and to improve opportunities for education, training and jobs will pay long-term dividends. It’s also important to help people make good decisions about whether to stay where they are or move to new locations where they are less vulnerable”.
As a result of its findings, the Bank recommends cutting global greenhouse gas emissions to reduce the scale of the problem; transforming development planning to focus more on climate migration, and greater investment in data to better understand the issue.
“Without the right planning and support, people migrating from rural areas into cities could be facing new and even more dangerous risks,” said the report’s team lead Kanta Kumari Rigaud. “We could see increased tensions and conflict as a result of pressure on scarce resources. But that doesn’t have to be the future. While internal climate migration is becoming a reality, it won’t be a crisis if we plan for it now”.
A major new report for the UK Government has highlighted the huge economic potential presented by the world’s oceans.
But it also warns that environmental threats, such as plastic waste and ocean acidification, need to be tackled or its economic value will be lost.
The Foresight Future of the Sea report, published by the UK’s Government Office for Science sees a number of key areas where the oceans can provide opportunities. These include the need to collaborate on fighting climate change, greater use of innovative technologies, such as autonomous vehicles, and improving our understanding of the sea.
The authors point out that the potential economic value of the ocean economy is set to double in the next 12 years to reach an estimated $3 trillion. However, our lack of understand of the oceans, and lack of co-ordination on addressing its threats, put these benefits in jeopardy.
Humans are increasing their reliance on the world’s oceans, partly due to a growing global population, and the exploitation of offshore energy resources, fishing, and seabed mining. These activities, combined with climate change “will compound declining fish stocks, coastal infrastructure, and other economic activities that rely on a healthy and resilient marine environment”, says the report.
The amount of plastics in the ocean is also estimated to treble up to 2025 and ocean warming could increase to 3.2 degrees by the end of the century, depending on how quickly the world reduces its carbon emissions.
It’s precisely within this context that the authors see an opportunity to utilise advancements in science and technology to help coordinate efforts and reduce impacts through growing our understanding.
Increases in data collection, for example, projected to rise 40-fold by 2020, and the development of new autonomous vehicles can help us address these threats. Autonomy is “likely to be the single most important marine technological development”, say the authors, as we increase our reliance on remotely operated vehicles and satellites.
With this increase comes the opportunity to better understand the activities of marine life, reduce pollution and improve decision-making.
Foreign and Commonwealth Office minister Lord Ahmad of Wimbledon commented on its findings: “Both the opportunities and the challenges set out in this important report are global in scale and demand our urgent attention.
“We must keep pushing our scientific understanding of the oceans, harness new technologies, and support commercial innovation. Most of all, we must ensure that governments keep pace with this changing environment. International collaboration remains crucial in order to realise the fullest benefits of our marine industries and scientists, for the UK and the world”.
Technology can enable lower costs and better patient care as healthcare increasingly moves from the hospital to the home
A new report from examines the emerging digital health industry, with a focus on how the Internet of Things (IoT) is disrupting healthcare and moving it to the home.
As global demand and cost for healthcare continue to rise, providers and patients are looking to technology for cost-effective solutions. A variety of smart home technologies that leverage the IoT are helping to lower costs and improve patient care by engaging consumers with real-time information through web portals and mobile apps, as well as other innovations. : According to a new report from , opportunities for stakeholders are increasing as healthcare becomes an emerging value proposition for the smart home.
“The nexus of IoT and health ultimately puts power in the hands of consumers and enables self care,” says Paige Leuschner, research analyst with Navigant Research. “This has the potential to revolutionize the healthcare industry and contribute to the emergence of healthcare as a value proposition for the smart home, creating opportunities for a range of stakeholders to capitalize on.”
According to the report, now is the time for industry players—from technology startups to service providers to large tech incumbents—to find innovative ways to engage consumers, explore new business models, and create new revenue streams in the home.
The report, , discusses how the convergence of smart home value propositions provides new opportunities for stakeholders to introduce innovative digital health solutions to bring efficiencies and enhancements to a traditional market. It also provides recommendations on how players in the smart home and health industries can address the smart home lifestyle and seize digital health market opportunity while there is momentum. An Executive Summary of the report is available for free download on the .
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Capitalizing on the Nexus of IoT and Home Healthcare, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
Every year around this time our yearly budget is presented in the parliament. This year there were a lot of expectations to improve the Power sector. Budget is an account of the finances for the fiscal year, every ministry of the central government prepares its own budget and then the budget is assembled and presented as the national budget by the finance ministry. It is presented in both the houses of the parliament and the productive decision takes place. The government has the powers to make amendments in the budget, if necessary.
Recent consumer interest is centered around performance enhancements to two of Fiat Chrysler’s high-volume nameplates
A new report from looks at adoption of 48 V mild-hybrid technology, analyzing Fiat Chrysler Automobiles (FCA’s) role in the market and the technology’s impact on electrified vehicles globally.
Though adoption has been on the rise in Europe, 48 V electrical systems have had little presence in the US. During the Los Angeles Auto Show and the North American International Auto Show in December 2017 and January 2018, however, FCA surprised the industry with major new product announcements incorporating 48 V systems in some of its highest volume vehicles. : According to a new report from , this marked a major shift in the near-term outlook for 48 V system adoption in North America.
“The prospects for adoption of vehicles with 48 V mild hybrid systems in North America picked up significant momentum in late 2017 and early 2018 as Fiat Chrysler introduced the technology on two of its highest volume nameplates,” says Sam Abuelsamid, senior research analyst at Navigant Research. “Prior to the announcement of the 2018 Jeep Wrangler and 2019 Ram 1500 pickup, it appeared that only some premium European brands would be launching the technology in North America before 2020.”
While high fuel prices and the desire for reduced greenhouse gases have been strong drivers for European adoption of 48 V systems, in the US, fuel remains relatively inexpensive, and the prevailing political climate at the federal level has shifted away from endorsing efficiency. According to the report, FCA’s marketing emphasis on the performance enhancement of the system has set the stage for mild hybrid systems to finally experience commercial success in North America.
The report, , examines the shift in the adoption of 48 V mild-hybrid technology. It discusses the role FCA is playing in this shift, as well as the impact on the global market for electrified vehicles. The study also examines the requirements for 48 V systems and how the industry is promoting performance and efficiency over green credentials. Recommendations are provided to OEMs and suppliers on what issues they should be monitoring, including consumer acceptance and component costs. An Executive Summary of the report is available for free download on the .
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Leveraging 48 V Systems for Improved Automotive Performance and Efficiency, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
This is a two part series on Bitcoin Mining, Blockchain and Renewable Energy. The first part covered the drivers & trend relation between bitcoin mining and the demand for energy in key markets. Also read Praveen's companion article. In this second part we overview how the blockchain technology underlying bitcoin, and the concept of digital / cryptographic tokens, Initial Coin Offerings can be used to drive more peer-to-peer finance for a higher supply of renewable energy, especially across emerging markets.
This is a two part series on Bitcoin Mining, Blockchain and Renewable Energy. The first part covers the drivers & trend relation between bitcoin mining and the demandfor energy in key markets. In the second part we overview how the blockchain technology underlying bitcoin, and the concept of digital tokens, ICOs can be used to drive more peer-to-peer finance for a higher supplyof renewable energy, especially across emerging markets.
Energy TechnologiesNavigant Research's Energy Technologies program focuses on new technology and business models that are driving innovation in clean energy, energy storage, and other advanced power technologies, both on the utility scale and on a distributed basis.
Utility TransformationsNavigant Research’s Utility Transformations research program covers emerging technologies and business models that are shaping the next generation of the electrical grid.
Transportation EfficienciesThe Transportation Efficiencies program examines the global market for hybrid electric, plug-in hybrid electric, and other alternative fuel vehicles and fuels for both consumer and commercial applications.
Building InnovationsNavigant Research's Building Innovations program focuses on the design, construction, and maintenance of highly efficient commercial and residential buildings.
Six critical characteristics address the potential of augmented reality and virtual reality technologies to have significant penetration in utility operations
A new report from examines the latest trends in “digital reality” for small- and large-scale utility deployment, providing detailed recommendations on how utilities and device vendors can capitalize on this market.
Historically, utilities have viewed augmented reality (AR) and virtual reality (VR) as impractical, with limited perceived benefits and functionality, prohibitive costs, and developmental roadblocks. However, innovative hardware improvements and progressive software applications, mixed with decreasing costs, have opened the door for utilities to be pioneers in the deployment of industrial digital reality technology. : According to a new report from , new key applications are driving utility interest in digital reality deployment in operations, training, marketing, and other departments.
“The ability to successfully overlay critical asset information for repairs and inspection, as well as the mapping of geographic information system (GIS) data are extremely useful to utilities and developments in those areas will drive up deployment for AR devices,” says Michael Hartnack, research analyst with Navigant Research. “For VR devices, continued enhancements in immersive image rendering, high definition field of view, and communications will push utilities to seriously consider implementation.”
While AR and VR devices are among the most cutting-edge technologies in today’s consumer electronics landscape, utilities have rarely been early adopters of new technologies. To help decision-makers navigate this new realm of products, Navigant Research has identified six critical characteristics that a digital reality device must possess for significant penetration into utility operations. Each characteristic is identified and discussed in detail in the report.
The report, , discusses the latest market trends in digital reality for grid applications and explores current and potential applications for small- and large-scale utility deployment. It provides detailed and actionable recommendations on how utilities and device vendors can address the fast-changing market. The study also provides an analysis of key market developments and identifies several prominent AR and VR devices in the market today. An Executive Summary of the report is available for free download on the .
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Enhancing Utility Operations with Augmented and Virtual Reality, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
Solar trackers have seen a tremendous growth in the last few years as costs came down. However, the growth for tracker stayed flat in Indian solar market in 2017-18 in anticipation of fall in module price. Also, developers are still conservative in terms of using a PV tracker in place of a fixed tilt system. One of the reason for this reservation is the difference between tracker gain estimated by PVsyst and the actual gain observed at site. Let’s look at how onsite factors like irradiance, Sun’s position, tracker availability etc. affects tracker gain but still remains a preferential technology with respect to fixed tilt system, especially with higher modules prices.
With the right strategy, smart appliances stakeholders can capitalize on increasing interest in the smart home Internet of Things market
A new report from looks at the shift in the smart appliances market as a subset of the smart home Internet of Things (IoT) trend, examining factors behind the market growth cycle and providing recommendations to key stakeholders.
While a variety of smart home products like smart thermostats, connected lighting, and smart locks are experiencing a wave of adoption, smart appliances haven’t found the same success. Consumers have mostly avoided smart appliances due to higher price points and a lack of perceived value, but this is starting to change. : According to a new report from , the smart appliances market is finally poised for growth.
“The growing smart home IoT market is helping drive new interest in the typically sluggish smart appliances subsegment,” says Neil Strother, principal research analyst with Navigant Research. “The smart appliance market segment is now ready for a healthy growth spurt over the next decade as appliance manufacturers, retailers, and utilities embrace smart appliances, and then convince buyers of the benefits that include enhanced energy efficiency, improved maintenance capabilities, and greater convenience through connectivity.”
According to the report, with proper focus by industry stakeholders, smart appliances could become a much more robust market segment that benefits both buyers and sellers. Stakeholders should be able to ride the IoT smart home wave, executing on key strategies outlined in the report.
The report, , analyzes the shift in the smart appliances market as a subset of the smart home IoT trend and what this shift means for the many stakeholders, which include manufacturers, retailers, utilities, home builders, regulators, and insurers. The study examines the market growth cycle in different regions, as well as the drivers and barriers related to smart appliances. It also provides recommendations on how the key stakeholders can spur smart appliance adoption around the world. An Executive Summary of the report is available for free download on the
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Smart Appliances Expand Smart Home IoT Opportunity for Energy Customers, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
To enhance competitiveness and customer acceptance, utilities and service providers should focus on key differentiators of opportunities for the commercial and industrial segment
A new report from examines the global market for commercial and industrial demand response (CIDR), providing market forecasts for capacity, sites, spending, and revenue, segmented by region, through 2027.
Commercial and industrial facilities represent an important target for utilities and demand response aggregators. While industrial facilities contribute significantly large amounts of load reduction, collective efforts from small and medium commercial customers are also capable of big impacts, especially as the large commercial market becomes saturated. : According to a new report from , global annual revenue for CIDR is expected to grow from $1.9 billion in 2018 to $2.9 billion in 2027.
“While traditional forms of demand response continue to be deployed today, newer forms are emerging and are being integrated with other distributed energy resources (DER), such as energy storage and electric vehicles,” says Brett Feldman, principal research analyst with Navigant Research. “Additionally, as renewable energy adoption continues to increase, demand response provides a key benefit in its ability to help integrate renewable resources by taking advantage of low cost, off-peak energy when wind and solar are abundant.”
In order to enhance CIDR competitiveness and customer acceptance, utilities and service providers should focus on key differentiators of markets and program opportunities, stacking the values as they open up to demand response. According to the report, it’s also important to not look at DR as in a bubble, but to consider it within the context of other DER offerings, including storage, distributed generation, and energy efficiency, to provide the greatest value proposition for customers.
The report, , examines the global CIDR market in five major geographic regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The study provides an analysis of the market issues, including drivers and barriers, associated with global CIDR development. Global market forecasts for capacity, sites, spending, and revenue for CIDR, segmented by region, extend through 2027. The report also explores global CIDR trends to highlight varying regional activity and markets. An Executive Summary of the report is available for free download on the .
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Market Data: Demand Response for C&I, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
Mr.Sujoy Ghosh, Country Head, First Solar, India
2017 is shaping up to be a record year for solar PV installations worldwide as well as in India. We have also witnessed sub 2cents/kwhr tariffs in auctions in Saudi Arabia and Mexico for projects that are expected to be commissioned over the next 24-30 months, thereby creating a further compression in the overall value chain that needs to be met by equipment suppliers, financing agencies and the service providers (engineering, procurement and O&M). Hence the companies that continue to focus on reducing costs, increasing scale and lowering their cost of capital/cost of doing business would be able to sustain through these times. Specifically on the PV module technology, the focus would remain on lowering of cost of production by either optimizing manufacturing processes, and/ or leveraging economies of scale. Also with the transition to more installations between the two tropics, there would be equal focus on long term reliability under harsher climates (hot and humid) and quality and consistency of processes would be under increased scrutiny from the end users. 1500V inverters would probably increase their market share as plant owners try to exploit every ounce of optimization feasible in order to achieve lower LCOE’s, while the scale of the blocks increase due to average increase in project capacities. 2018 would also see a an increased focus on hybridization of PV systems with storage or other forms of generation as grid capacity congestion issues begin to start becoming noticeable with the growth in both solar and wind in the recent past.
Mr. George John,Head -Mytrah Global Services,Mytrah Energy
Reverse bidding has become a norm in the renewable energy sector. The low tariffs especially pertaining to Solar sector can be attributed to the decreasing cost of solar modules due to advancement in technology. However, it is noteworthy that even today, most of our capacity comes
from Chinese manufacturers. The heavy emphasis by the government on ‘Make In India’ initiative is expected to drive the domestic manufacturers into building capacities to compete with the Chinese manufacturers. This would increase the self-reliance of the Solar sector by reducing dependencies.Intermittence in energy supply has been an age-old characteristic of renewable energy sector. Although Solar provides a more predictive forecast based on seasonality and time of the day, the power generation remains intermittent. The increasing global awareness on Battery storage and the technological innovations in this sector is bound to impact the Solar sector in the coming year. A successful breakthrough in terms of balancing the capacities and cost will make Solar sector more profitable in future. With Global companies such as Tesla overlooking Battery Storage innovations,this future might not be too far away.From an investment standpoint, Rooftop Solar has gained momentum and this trend is expected to continue into 2018. Rooftop Solar has seen investment from small scale investors as well, since it provides energy security coupled with government incentives.Another interesting trend we expect to see in Solar sector, especially in the near future, is the rise of smart grid solutions and Hybrid models using both wind and solar power generation. The increasing use of digitalization has already reached the Solar sector and we expect to see increased efficiencies because of this.In conclusion, 2018 will be an interesting year for Solar sector from supply chain point of view as well the enhanced efficiencies.
Mr. Devin Narang Country Head-India Sindicatum Renewable Energy Company.
Globally, India has probably the most robust policies in place for all forms of Renewable energy. What can be expected in 2018 borrows heavily from the initiatives the Government has in store for the sector. Specific targets and a well-defined roadmap to achieving them are encouraging. Addition of power generation capacity – especially through solar parks; building of domestic manufacturing capacities; refinements in Solar Policy (for utility scale & rooftop systems) and Bid Document – in particular, with regard to applicable duties and taxes; resolution of State-specific project development bottlenecks; and enhanced bankability of projects - these are some initiatives in the offing by the Government. Technology, on the other hand has also grown steadily, reflecting in increased component efficiencies at competitive prices. However, with regard to PV modules, prices are expected to pick up from the lows seen hitherto while stabilizing at the optimum. Although the Indian market is nascent when it comes to Storage, it would be interesting to see how solar projects combined with storage sustain in the long run. Finally, two (interconnected) aspects that need concerted initiative from different stakeholders are: creation of energy demand and ensured energy offtake. Schemes such as ‘Deen Dayal Upadhyaya Gram Jyoti Yojana’ (DDUGJY) and ‘Ujwal Discom Assurance Yojana’ (UDAY) have been important enabling factors from a macro perspective. Such developments have spurred growth in the sector – which stands at 15GW plus installed capacity on date. The achievement of 100GW of solar isn’t far.
Developers face varied challenges in building and managing a rooftop solar asset portfolio and some of the key challenges have been highlighted below.
“A road map has been laid out to set up at least 50 solar parks, each capacity of 500 MW. How do you think the solar parks in India are shaping up?”
Ecoprogetti srl is the leading manufacturer of complete Turnkey Line for module manufacturing.
Growth Opportunities in the Indian PV Market & Requirement of Indian Module Companies
Battery Storage companies secure $714 million; Smart Grid companies bring in $422 million; and Energy Efficiency companies receive $384 million
Mercom Capital Group, llc, a global clean energy research and communications firm, released its report on funding and mergers and acquisitions (M&A) activity for the Battery Storage, Smart Grid, and Energy Efficiency sectors for 2017.
To get a copy of the report, visit: http://bit.ly/MercomSGQ42017
In 2017, a combined $1.5 billion was raised by Battery Storage, Smart Grid, and Energy Efficiency companies, an increase from the $1.3 billion raised in 2016.
In 2017, VC funding into Battery Storage companies almost doubled to $714 million raised in 30 deals from the $365 million raised in 38 deals in 2016, largely due to the $400 million Microvast deal. Total corporate funding, including debt and public market financing, rose to $890 million compared to $540 million in 2016.
Energy Storage Downstream companies received the most funding with $68 million followed by Lithium-based Battery companies with $65 million.
The top VC funded companies included: Microvast Power Systems with $400 million, Battery Energy Storage Solutions (BESS) with $66 million, Forsee Power brought in $65 million, Advanced Microgrid Solutions (AMS) raised $34 million, and Primus Power raised $32 million.
Eighty-six VC investors participated in Battery Storage deals in 2017 compared to 62 in 2016.
In 2017, announced debt and public market financing for Battery Storage companies remained steady at $177 million raised in 12 deals compared to $175 million generated by eight deals in 2016.
Three project funds totaling $446 million were announced in the Battery Storage category in 2017, compared to $820 million raised in 2016 in seven deals.
Nine Battery Storage project funding deals were announced in 2017 totaling nearly $2.1 billion. By comparison, just $33 million was raised in four deals in 2016.
There were six M&A transactions in the Battery Storage category in 2017, of which only two disclosed transaction amounts. In 2016 there were 11 M&A transactions, three of which disclosed transaction amounts.
VC funding in the Smart Grid sector rose to $422 million in 45 deals in 2017, compared to $389 million raised in 42 deals in 2016. Total corporate funding, including debt and public market financing, came to $1.2 billion compared to $613 million in 2016.
The top VC funded companies in 2017 were ChargePoint, which brought in $82 million and $43 million in two separate deals, Actility which received $75 million, Brilliant which secured $21 million, and Particle and Urjanet each raising $20 million.
Eighty-eight investors funded Smart Grid companies in 2017, compared to 82 in 2016. Top VC investors in 2017 included: ABB Technology Ventures, Braemar Energy Ventures, Chrysalix Venture Capital, Clean Energy Finance Corporation, Energy Impact Partners, EnerTech Capital, GE Ventures, innogy, National Grid, Obvious Ventures, and Siemens.
Smart Charging of plug-in hybrid electric vehicle (PHEV), vehicle-to-grid (V2G) companies, had the largest share of VC funding in 2017 with $155 million in 10 deals, followed by Demand Response companies with $94 million in four deals.
In 2017, five debt and public market financing deals totaling $774 million were announced, compared to $224 million raised in five deals in 2016. There were no IPOs announced for Smart Grid companies in 2017.
There were 27 M&A transactions recorded in the Smart Grid sector (just seven of these deals disclosed transaction amounts) in 2017 totaling $2.5 billion. In 2016 there were 15 transactions (four disclosed) for $2.4 billion. The top disclosed transaction was the $1.1 billion acquisition of Aclara by Hubbell.
VC funding for the Energy Efficiency sector fell to $384 million in 38 deals in 2017 compared to $528 million in 33 deals in 2016. Total corporate funding, including debt and public market financing, was $3.3 billion, compared to $3.8 billion in 2016.
The top VC funded companies were View, which raised $100 million, followed by Kinestral Technologies with $65 million, RENEW Energy Partners with $40 million, Power Survey and Equipment brought in $24 million, and Stack Lighting with $16 million.
Efficient Home/Building companies captured the most funding with $172 million in five deals in 2017. A total of 51 investors participated in funding deals in 2017 compared to 72 investors in 2016. Energy Impact Partners was the most active investor in 2017.
In 2017, debt and public market financing announced by Energy Efficiency companies fell to $2.9 billion in 16 deals compared to the $3.2 billion raised in 16 deals in 2016. 2017 saw seven Property Accessed Clean Energy (PACE) financing deals bring in more than $1.6 billion compared to 12 deals that brought in $2.3 billion in 2016.
There were two securitization deals in 2017 for nearly $581 million compared to nine securitization deals for $1.8 billion in 2016. Securitization deals have now exceeded $4.5 billion in 24 deals since 2014.
M&A activity for the Efficiency sector in 2017 dropped to 10 transactions, three of which disclosed transaction amounts. In 2016, there were 14 M&A transactions with five that disclosed transaction amounts.
The largest disclosed transaction was the $526 million acquisition of LEDvance by a Chinese consortium consisting of IDG Capital, MLS, and Yiwu.
To get a copy of the report, visit: http://bit.ly/MercomSGQ42017
About Mercom Capital Group
Mercom Capital Group, llc, is a global communications and research and consulting firm focused on cleantech. Mercom delivers market intelligence and funding and M&A reports covering Battery Storage, Smart Grid and Energy Efficiency, and Solar, and advises companies on new market entry, custom market intelligence and strategic decision-making. Mercom's communications division helps companies and financial institutions build powerful relationships with media, analysts, local communities, and strategic partners. About Mercom: http://www.mercomcapital.com. Mercom's clean energy reports: http://store.mercom.mercomcapital.com/page/.
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Mercom Capital Group, llc, a global clean energy communications and consulting firm, has released its annual report on funding and merger and acquisition (M&A) activity for the solar sector in 2017.
Total global corporate funding into the solar sector, including venture capital/private equity (VC), debt financing, and public market financing raised came to $12.8 billion, a 41 percent increase compared to the $9.1 billion raised in 2016.
To learn more about Mercom’s 2017 Solar Funding and M&A Report, visit: http://bit.ly/MercomSolarQ42017
"A strong fourth quarter pushed overall funding higher in 2017. Higher installation levels around the world, the lack of threat to the solar investment tax credit, lower than expected tariff recommendation by U.S. ITC, strong debt financing activity, and over a billion dollars in securitization deals helped the solar industry have a much better year in terms of financial activity compared to 2016. After several challenging years, most of the solar securities were up in 2017 reflecting overall positive sentiments around the solar industry even as several Chinese manufacturers decided to go private. Of course, all this could change swiftly if President Trump decides to impose higher tariffs in the trade case," commented Raj Prabhu, CEO and Co-Founder of Mercom Capital Group.
Global VC investments came to $1.6 billion in 99 deals in 2017, up 30 percent from the $1.3 billion raised by 78 deals in 2016 - led by several large private equity deals in India.
Solar downstream companies accounted for 85 percent of total VC funding in 2017, bringing in $1.4 billion of the total $1.6 billion raised. Thin-film companies brought in $106 million while service providers raised $47 million.
Investments in PV technology companies came to $40 million and Balance of Systems (BoS) companies raised $36 million. The concentrated solar power (CSP) category raised $8 million and the concentrator photovoltaics (CPV) category received $6 million.
The top VC/PE deals reported in 2017 included a deal for $200 million signed by Lightsource Renewable Energy. ReNew Power also had two deals of $200 million each, followed by Greenko Energy Holdings which raised $155 million. Hero Future Energies raised $125 million and CleanMax Solar raised $100 million. Overall, five of the top six solar VC funding deals in 2017 came from India.
There were 162 VC/PE investors that participated in funding rounds in 2017, with eight involved in multiple rounds: Engie, Avista Development, DSM Venturing, InnoEnergy, Innogy, International Finance Corporation (IFC), Shell, and Techstars.
Public market financing was flat in 2017 to $1.7 billion raised in 33 deals from $1.8 billion raised in 27 deals in 2016. Three IPOs were logged during the year that raised a combined total of $363 million for Canadian Solar Infrastructure Fund, New Energy Solar Fund, and Clenergy.
Announced debt financing in 2017 surged to $9.5 billion compared to $6 billion in 2016. There were six securitization deals in 2017 totaling $1.3 billion. Securitization deals surpassed the $1 billion for the year, a first.
Large-scale project funding announced in 2017 reached a $14 billion raised in 167 deals, compared to $9.4 billion raised in 133 deals during 2016. A total of 161 investors funded about 20.5 GW of large-scale solar projects in 2017 compared to 5.9 GW funded by 153 investors in 2016.
The top investors in large-scale projects included Clean Energy Finance Corporation (CEFC), which invested in 13 projects, followed by Santander with eight deals, and Commonwealth Bank of Australia and Siemens Financial Services with six deals each.
$2.4 billion was raised by 16 residential and commercial solar project funds in 2017 which was down 50 percent compared to $4.9 billion raised by 30 funds in 2016. The top fundraisers were: Sunlight Financial, Sunnova, Solar Mosaic, SolarCity, and Spruce Finance. Since 2009, solar residential and commercial firms offering leases, PPAs, and loans have raised more than $24.8 billion in lease and loan funds.
There were 71 corporate M&A transactions in the solar sector in 2017, up slightly from 68 transactions recorded in 2016. Solar downstream companies were involved in 51 of these transactions. Engie acquired three companies while BayWa, Brookfield Asset Management, Horizon Solar Power, Siva Power, Solar Spectrum, and Sonnedix acquired two companies each. The largest and the most notable transaction in 2017 was the $1.6 billion acquisition of FTP Power (sPower) by AES and Alberta Investment Management (AIMCo) from Fir Tree Partners.
Project acquisitions jumped up 67 percent as a record 228 large-scale solar projects with a combined capacity of more than 20.4 GW were acquired in 2017, compared to 2016 when 12.2 GW changed hands in 218 transactions.
Mercom also tracked 187 large-scale project announcements across the globe that totaled 10.6 GW in Q4 2017 and 922 large-scale project announcements totaling 50.1 GW for all of 2017.
To learn more about Mercom’s 2017 Solar Funding and M&A Report, visit: http://bit.ly/MercomSolarQ42017
About Mercom Capital Group
Mercom Capital Group, llc, is a global communications and consulting firm focused exclusively on clean energy and financial communications. Mercom’s consulting division advises cleantech companies on new market entry, custom market intelligence, and overall strategic decision making. Mercom’s consulting division also delivers highly respected industry market intelligence reports covering Solar Energy and Smart Grid. Our reports provide timely industry happenings and ahead-of-the-curve analysis specifically for C-level decision making. Mercom’s communications division helps clean energy companies and financial institutions build powerful relationships with media, analysts, government decision makers, local communities, and strategic partners. For more information about Mercom Capital Group, visit: http://www.mercomcapital.com. To get a copy of Mercom’s popular market intelligence reports, visit: http://eepurl.com/cCZ6nT.
Various Instruments For India’s Clean Energy Support Measures
Credits: IRENA REMap India Paper 2017
Mercom Capital Group, llc, a global clean energy communications and consulting firm, has released its latest quarterly report on funding and merger and acquisition (M&A) activity for the Battery Storage, Smart Grid, and Energy Efficiency sectors during the third quarter and first nine months of 2017.
To get a copy of the report, visit: http://bit.ly/MercomSGQ32017
Mercom found that, in the first nine months (9M) of 2017, $1.23 billion was raised by Battery Storage, Smart Grid, and Efficiency companies, up from $910 million raised in 9M 2016.
In Q3 2017, VC funding for Battery Storage companies dropped to $83 million in seven deals compared to $422 million raised in 10 deals during Q2 2017. A year earlier, $30 million was raised in nine deals in Q3 2016. In 9M 2017, $563 million was raised in 25 deals compared to $209 million raised in 29 deals in 9M 2016.
The top VC funded Battery Storage companies in Q3 2017 were: Advanced Microgrid Solutions, which raised $34 million from Energy Impact Partners, Southern Company, DBL Partners, GE Ventures, AGL Energy, Macquarie Capital, and former California Governor Arnold Schwarzenegger; Romeo Power, which raised $30 million; and Gridtential Energy, which secured $11 million from 1955 Capital, East Penn Manufacturing, Crown Battery Manufacturing, Leoch International, Power-Sonic, The Roda Group, and the company's chairman, Ray Kubis.
In all, 16 investors participated in Battery Storage funding in Q3 2017 with Energy Storage Downstream companies raising the most.
The third quarter saw two debt and public market financing deals in Battery Storage totaling $45 million compared to $107 million raised in seven deals in Q2 2017. In 9M 2017, $174 million was raised in 11 deals compared to six deals that brought in $120 million in 9M 2016.
There was one M&A transaction involving a Battery Storage company in Q3 2017 compared to three M&A transactions in Q2 2017. In the first nine months of 2017, there were five transactions (two disclosed), down from nine transactions (two disclosed) in 9M 2016. Two Storage projects were also acquired in Q3 2017.
VC funding for Smart Grid companies in Q3 2017 totaled $76 million in 14 deals, compared to $139 million raised in eight deals in Q2 2017. In a year-over-year (YoY) comparison, $11 million was raised in seven deals in Q3 2016. In 9M 2017, $380 million was raised in 36 deals compared to $343 million raised in the same number of deals in 9M 2016.
Top VC funded Smart Grid companies included: Particle, which secured $20 million from Spark Capital, Qualcomm Ventures, and previous investors; INTEREL, which raised $11.9 million in funding from Jolt Capital; Roost, which received $10.4 million in funding from Aviva Ventures, Desjardins Insurance, and Fosun RZ Capital; Tritium, which secured $8 million from entrepreneur Brian Flannery; and Innowatts, which raised $6 million from Shell Technology Ventures, Iberdrola Ventures - Perseo, and Energy & Environment Investment.
In all, 28 investors participated in Smart Grid VC funding rounds in Q3 2017, with SG Communications companies raising the most.
A total of $11 million was raised in one debt financing deal in Q3 2017 compared to the $9 million raised in one deal in Q2 2017. In 9M 2017, $20 million was raised in two deals compared to $217 million raised in four deals in 9M 2016.
There were six M&A transactions (two disclosed) in Q3 2017. In Q2 2017, there were six transactions (two disclosed). In 9M 2017, there were 19 transactions (five disclosed) compared to 13 transactions (four disclosed) in 9M 2016.
VC funding raised by Energy Efficiency companies in Q3 2017 came to $47 million in eight deals compared to $29 million raised in six deals in Q2 2017. In a YoY comparison, $61 million was raised in five deals in Q3 2016. In the first nine months of 2017, $289 million was raised by Energy Efficiency companies in 28 deals compared to $358 million raised in the same number of deals in 9M 2016.
The Top VC deals in the efficiency category included: Power Survey and Equipment, which received $24 million in funding from EnerTech Capital, Investissement Quebec, Cycle Capital Management, Fonds de solidarite FTQ, and BDC Capital; Corvi, which received a $10 million strategic investment from Hero Enterprise; and Deco Lighting, which secured $8 million in funding from Siena Funding.
In all, nine investors participated in VC funding in Q3 2017. Within the sector, Efficiency Components companies brought in the most funding.
Announced debt and public market financing for Energy Efficiency technologies plunged to $615 million in four deals in Q3 2017 compared to the $1.4 billion raised in six deals in Q2 2017. In 9M 2017, $2.3 billion was raised in 13 deals compared to the same amount raised in 11 deals in 9M 2016.
There was one Property Accessed Clean Energy (PACE) financing deal in Q3 2017 for $205 million versus three deals in Q2 2017 that raised $668 million. In 9M 2017, $873 million was raised in four deals compared to the $1.3 billion raised in six deals in 9M 2016.
There were two M&A transactions (one disclosed) involving Energy Efficiency companies in Q3 2017, up from just one undisclosed transaction in Q2 2017. For the first nine months of 2017, there were seven transactions (three disclosed), down from 12 transactions in 9M 2016 (four disclosed).
To get a copy of the report, visit: http://bit.ly/MercomSGQ32017
About Mercom Capital Group
Mercom Capital Group, llc, is a global communications and research and consulting firm focused on cleantech. Mercom delivers market intelligence and funding and M&A reports covering Battery Storage, Smart Grid, and Energy Efficiency and Solar and advises companies on new market entry, custom market intelligence and strategic decision-making. Mercom's communications division helps companies and financial institutions build powerful relationships with media, analysts, local communities, and strategic partners. About Mercom: http://www.mercomcapital.com. Mercom's clean energy reports: http://store.mercom.mercomcapital.com/page/.
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Large-scale project funding crosses $10 billion in 9M 2017
Mercom Capital Group, llc, a global clean energy communications and consulting firm, released a new report on funding and merger and acquisition (M&A) activity for the solar sector in the third quarter of 2017 and the first nine months of 2017.
To learn more about the report, visit: http://bit.ly/MercomSolarQ32017
Total corporate funding (including venture capital funding, public market and debt financing) in the first nine months (9M) of 2017 was slightly lower compared to the same period in 2016, with about $7.1 billion raised compared to the $7.5 billion raised in 9M 2016. There were 143 deals in 9M of 2017 compared to 125 deals in the same period of 2016.
Looking at just Q3 2017 data, Mercom found that corporate funding in the solar sector grew 74 percent compared to Q2 2017, with $2.4 billion raised in 45 deals. In Q2 2017, $1.4 billion was raised in 37 deals. Year-over-year (YoY), funding in Q3 2017 was about 19 percent lower compared to the $3 billion raised in Q3 2016.
“Debt financing activity outside of the United States helped bump up corporate funding in the third quarter as financing activity in the United States was muted ahead of the Suniva anti-dumping case decision,” commented Raj Prabhu, CEO of Mercom Capital Group.
Global VC funding (venture capital, private equity, and corporate venture capital) for the solar sector in 9M 2017 rose a slight seven percent to $985 million from $925 million raised during the same period in 2016, largely due to a strong first quarter in 2017.
In Q3 2017, VC funding for the solar sector doubled with $269 million raised in 23 deals compared to $128 million raised in the same number of deals during Q2 2017. Most of the VC funding raised in Q3 2017 (72 percent) went to solar downstream companies with $193 million in 13 deals.
The Top VC deal in the third quarter of 2017 was the $100 million raised by Indian rooftop installer CleanMax Solar. It was followed by the $56 million raised by Singapore’s Sunseap Group, the $21 million secured by Sol Voltaics, and Ampt’s $15 million. Ubiquitous Energy also raised $15 million. A total of 35 investors participated in solar funding in the third quarter of 2017.
Solar public market funding was approximately 12 percent lower compared to the first nine months of 2016, with $1 billion raised in 9M 2017 compared to $1.2 billion raised during the same period of 2016. Public market financing fell significantly in Q3 2017 with just $79 million in four deals, down from $473 million raised in six deals in Q2 2017.
During the first nine months of 2017, debt financing activity accounted for $5.1 billion in 51 deals, which was almost six percent lower compared to the first nine months of 2016, when $5.4 billion was raised in 55 deals. In Q3 2017, announced debt financing rose steeply to $2.1 billion in 18 deals compared to the $798 million raised in eight deals during the second quarter of 2017.
In the top debt deals, Greenko Energy Holdings raised $1 billion in green bonds in two separate deals, $650 million and $350 million. Cypress Creek Renewables also received $450 million from Temasek.
Announced large-scale project funding in 9M 2017 crossed the $10 billion mark, with $10.2 billion raised for the development of 117 projects. For the third quarter of 2017 alone, announced large-scale project funding came in at more than $2.8 billion in 36 deals.
Announced residential and commercial solar funds totaled $2.2 billion in 9M 2017, which was lower by almost 35 percent when compared to the $3.4 billion raised during the same period of 2016.
The first nine months of 2017 saw a total of 58 solar M&A transactions, compared to the 48 transactions seen in the same period (9M) of 2016. There were 18 solar M&A transactions in Q3 2017, up from 11 solar M&A transactions seen in the preceding quarter (Q2 2017) and equal to the number of transactions (18) posted in Q3 2016. Of the 18 total transactions in Q3 2017, 13 involved solar downstream companies, three involved PV manufacturers, and there was one transaction each by a BOS company and an Equipment provider.
There were 161 large-scale project acquisitions in first nine months of 2017 aggregating over 14.6 GW, compared to 145 project acquisitions totaling just 7.1 GW during the same period of 2016.
Similar to Q2 2017, investment firms and funds were the most active acquirers in Q3 2017, with 26 projects for over 2 GW, followed by project developers with 16 transactions totaling over 1.1 GW.
Mercom tracked 296 new large-scale project announcements worldwide in Q3 2017 totaling 15.7 GW.
To learn more about the report, visit: http://bit.ly/MercomSolarQ32017
About Mercom Capital Group
Mercom Capital Group, llc, is a global communications and consulting firm focused exclusively on clean energy and financial communications. Mercom’s consulting division advises cleantech companies on new market entry, custom market intelligence and overall strategic decision making. Mercom’s consulting division also delivers highly respected industry market intelligence reports covering Solar Energy and Battery Storage, Smart Grid, & Efficiency. Our reports provide timely industry happenings and ahead-of-the-curve analysis specifically for C-level decision making. Mercom’s communications division helps clean energy companies and financial institutions build powerful relationships with media, analysts, government decision makers, local communities and strategic partners. For more information about Mercom Capital Group, visit: http://www.mercomcapital.com. To get a copy of Mercom’s popular market intelligence reports, visit: http://eepurl.com/cCZ6nT.
Presently, the unutilized roofs for roof top plant, barren and low vegetation land for ground mounted systems and Building Integrated Solar PV Plants have been using these unutilized locations for solar plant installation as these require large space for installation of power plant.
Why and how it make sense to go with higher DC system voltage?