CONVERTING BROWNFIELDS AND

LANDFILLS INTO SOLAR ARRAYS

Julia Chase

Brightfields Development March 22, 2016

SOLAR REDEVELOPMENT OF

CONTAMINATED LANDS

LANDFILLS BROWNFIELDS

ANNUAL PHOTOVOLTAIC SOLAR

INSOLATION

AVERAGE ENERGY RETAIL PRICES

SOLAR INDUSTRY GROWTH

RENEWABLE ENERGY IS OUR FUTURE

SOLAR PROJECT IRR &

PPA WINNING BIDS

Investor IRR:

• Average 6-9% return

Selected PPA Pricing:

• $0.0387 for a 100 MW project in Nevada

• $0.053 ¢/ kWh in Arizona for 45 MW project with a 21-

year PPA

• $0.06 - $0.08 ¢/ kWh in MA depending on project

Solar is reaching grid parity in certain locations

KEY INCENTIVES FOR SOLAR DEVELOPMENT

SREC II, MA Net Metering: • SREC II completely subscribed for

• Solar energy supplied to grid for grid level

consumption

• Commodity revenues augmented by SREC

value

• Politically unclear SREC III & net metering

FEDERAL ITC:

• Investment Tax Credit

• 30% tax credit on residential & commercial

solar systems, fuel cells and small wind

• Recently extended for 5 years

OTHER AVAILABLE INCENTIVES

• Property tax

• Personal Property Tax

• Sales tax

• State level tax credit

• Zoning Relief

PROJECTS TRANSCENDING THE ITC

• Community Shared Solar

• Remediation

East St. Louis, IL

RENOVA / BRIGHTFIELDS PARTNERSHIP

• Many brownfields cannot support other high-intensity uses

• Established local power infrastructure

• In land-restricted markets, brownfields are cost effective

• Very little NIMBY pushback

PROJECT APPEAL

Client

Solar Brownfield

EPC

Insurance

Environmental

EPC

Solar Brownfield

Clean Power

Jobs

Lease & Taxes

Financing

EPA

Municipality

State EPA

WHAT BRIGHTFIELDS DOES

BROWNFIELDS SOLAR

DEVELOPMENT

East St. Louis, IL - 24 MW FACILITY ON SUPERFUND SITE

Elizabeth Mine, VT - 7 MW FACILITY ON SUPERFUND SITE

Carbondale, IL - 24 MW ON BROWNFIELD RCRA SITE

SCITUATE, MA

3.0 MW Solar Array

Solar Array on a Closed Municipal Landfill

2014 PV America Photovoltaic Project of Distinction Award recipient

• “This award recognizes the highest achievement for a PV solar energy project of

any scale.”

NEEDHAM, MA

3.7 MW Solar Array

Solar Array on a Closed Municipal Landfill

GREENFIELDS,

COMMUNITY SHARED

SOLAR,

CARPORTS

ADAPTING TO CHANGE

Julia Chase

Project Associate

40 Walnut Street, Suite 301

Wellesley, MA 02481

781- 772 – 2877

jchase@brightfieldsllc.com

SOURCES Slide 2:

Photo Source: http://solartoday.org/2015/03/pv-generation-potential-for-2014/

Slide 3:

Source: http://www.srectrade.com/srec_markets/introduction

Slide 4:

Source: http://www.eia.gov/electricity/state/

For September 2015, Ultimate end use customer

Slide 5:

Photo Source: http://newscenter.lbl.gov/2015/08/12/solar-prices-fell-2015/

Source: http://www.seia.org/research-resources/solar-industry-data

Slide 6:

Photo Source: http://www.seia.org/sites/default/files/Solar-Industry-Prices-2014.png

Slide 7:

Content Source: Velocity Suite, ABB Inc., and the C Three Group LLC

Slide 9:

Photo Source: http://newscenter.lbl.gov/2015/09/30/price-of-solar-energy-in-the-united-states-has-fallen-to-5%C2%A2kwh-on-average/

Slide 10:

Image Source: http://econous.eu/wp-content/uploads/2014/07/renewable_energy_sources.jpg

Content: http://energy.gov/savings/business-energy-investment-tax-credit-itc

Content: http://energy.gov/savings/renewable-electricity-production-tax-credit-ptc

Slide 13:

Image Source: http://www.utilitydive.com/news/why-dept-of-energy-is-going-big-on-community-shared-solar/361716/

Slide 14:

Image Source: http://www.utilitydive.com/news/utility-scale-solar-booms-as-costs-drop-challenging-gas-on-price/406692/

Slide 18:

Image Source: http://www.pv-magazine.com/fileadmin/PVI_website_pictures/solarcentury_Kenya_carport.jpg