The Renewable Energy Transition: A Status Report

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1 The Renewable Energy Transition: A Status Report Gregory Wetstone President and CEO American Council on Renewable Energy June 1, 2016 REN21 Global Status Report Webinar Leading the transition to a renewable energy economy.

2 Leading the Transition to a Renewable Energy Economy Non-profit, Membership Organization About ACORE Members Leading the transition to a renewable energy economy.

3 U.S. Wind and Solar Installations

4 U.S. Total Renewable Energy Investment

5 Electric Generation Capacity Build by Fuel Type

6 Wind and Solar PV are Cost Competitive Unsubsidized Levelized Cost of Energy

7 The Growing Cost-Effectiveness of Wind and Solar Power 82% Reduction in Solar LCOE since % Reduction in Wind LCOE since 2009 Charts courtesy of Lazard

8 Renewable Energy Saves Consumers Money States with the most Renewables are paying less for electricity Chart courtesy of DBL Investors

9 Renewable Energy Saves Consumers Money (part 2) Retails prices are increasing most slowly in the states with the most renewables energy Chart courtesy of DBL Investors

10 Thousands Tax Policy as a Key Driver of US Renewable Energy Deployment The five-year PTC extension will create an additional 19 GW of new wind capacity. 30% ITC steps down for projects commissioned after year-end 2016 From 2017 onward, business-owned systems receive a 10% credit, while individual-owned systems receive no credit Annual new-build with no PTC extension Cumulative (right-axis) e 2016e 2017e 2018e 2019e 2020e 2021e The five-year ITC extension will create an additional 18 GW of new solar capacity. 5-yr extension of the ITC with gradual phasedown to a permanent 10% in 2022 for business owned systems. A commence construction clause is added to the business credit (Section 48)* Cumulative (right-axis) Utility Residential Commercial and Data industrial courtesy of Bloomberg New Energy Finance

11 Renewable Energy Subsidies in Perspective Cumulative Historic Federal Subsidies 2010, $Billions Historical Average of Annual Energy Subsidies

12 State Renewable Energy Directives Source: DSIRE

13 Market Evolution: Renewable Energy Growth Exceeds RPS Mandates Chart courtesy of LBNL

14 Growing Consumer Demand: Increasing Deployment of Distributed Solar Chart courtesy of SEIA & GTM Research

15 Growing Consumer Demand: Corporate Sustainability S&P 500 Companies Sustainability Reporting Chart courtesy of the Governance & Accountability Institute

16 GW Capacity (Annual) Growing Consumer Demand: Commerical and Industrial PPAs Corporate Demand for Renewable Energy: New Market Entrants US PPA s by Sector GW Capacity (Total) Charts courtesy of BNEF

17 Corporate Renewable Energy Leaders MW Capacity (Total) Charts courtesy of BNEF

18 Emission Impact of EPA s Clean Power Plan Annual Emissions: Reductions by 2030 Under the Clean Power Plan Chart courtesy of Greentech Media

19 US EPA Clean Power Plan: State Emission Reductions State-by-State: Percentage Reduction of CO 2 Emissions Rate 2012 to 2030 (lbs./mwh) Chart courtesy of Chadbourne & Parke

20 Projected Impact of the Clean Power Plan on Renewable Deployment (Post 2020) Solar Wind Charts courtesy of EIA

21 CPP Alone Will Not Get Us to Paris Commitments U.S. Carbon Dioxide GHG Emissions Gap of 375 to 475 MMT per year Chart Courtesy of the Energy Collective Data basis: EIA MER, AEO2015, EIA CPP report, and INDC published targets. Note: AEO CPP Adjusted projection is based on fully implementing the CPP 32% reduction in Power Sector CO 2 emissions by 2030, the HDV CAFE standard s, and increased Residential/ Commercial/ Industrial Sectors energy efficiencies.

22 Thank You Gregory Wetstone President & Chief Executive Officer American Council On Renewable Energy (ACORE) 1600 K Street, NW; Suite 650 Washington, DC Leading the transition to a renewable energy economy.

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