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Shovel Ready Wind, Solar, Geothermal and Hydroelectric Projects in North America: Why Can’t Large Scale Renewable Energy Take Off in the U.S.

October 6, 2010

It is believed that there are an abundance of shovel ready Wind, Solar, Geothermal and Hydroelectric projects in North America. Shovel ready projects are those in the pre-construction phase that have in place all the required permits, regulatory approvals, engineering-procurement-construction contracts, interconnect agreements with the utility and approved power purchase or off-take agreements.

The question is if the U.S. government is really dedicated to renewable energy, why are these utility size projects left with no investor base. Many of these projects have completed, with agreements in hand, a lengthy and costly approval process, including but not limited to:

• 15 to 20 year PPA or Off-Take agreements.
• Acquisition of the project rights or EPC and BOS agreements.
• Federal, state and local permits
• Validated wind/solar studies, turbine/panel design and output.
• Environmental impact and other regulatory  approvals such as FAA in the case of wind farms.
• EPC selected and all engineering completed.
• Investible grade project showing upwards of 10% leveraged IRR.
• Tried and true technology.

It is known that the cost of  electricity from renewable energy  is higher than that produced from coal, nuclear, natural gas, and petroleum. But with REC’s and other incentives, it is not clear why these projects which have gone this far are left holding the bag.

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3 Comments leave one →
  1. October 6, 2010 5:42 PM

    I have two great inventions that I want to get underway with before loans and grants for shovel ready projects dry up!

    Vulvox’s innovation will enable energy storage of intermittent photovoltaic and wind power. Highly efficient systems are desired by the renewable power industry and government smart grid programs. The patent pending Vulvox system is expected to cost 7.69% as much as pumped hydroelectric storage and it can store electric energy and regenerate it with up to 93% efficiency. If fully implemented by 2030 the Department Of Energy says it will save 4%-7% of all energy produced. This innovation will enable energy storage of intermittent photovoltaic and wind power. Highly efficient systems are desired by the renewable power industry and government smart grid programs. The patent pending Vulvox system is expected to cost 7.69% as much as pumped hydroelectric storage and it can store electric energy and regenerate it with up to 93% efficiency. If fully implemented by 2030 the Department Of Energy says it will save 4%-7% of all energy produced.

    According to a Lux research report released May 29, 2008-

    “Bulk energy storage for utilities – shifting large amounts of energy from excess production times to peak usage times – presents the biggest potential opportunity of all markets studied: If even 10% of installed wind power plants adopted large-scale energy storage, the market would hit $50 billion.”

    I want to start building prototypes as soon as possible.

    Contact Neil Farbstein, President of Vulvox for further details.

    vnbcinc@gmail.com

  2. January 31, 2011 2:45 AM

    funds for shovel ready large projects ( renewable energy sector and much more , we prefer 50 m and up very unique program 10-30 year term ( who meets criteria ) we work directly witn fortune 100 investment bank of usa , we dont shop around your projects every thing under one umrella ( currently taking projects from usa, canada and puerto rico please note NO UP FRONT FEE for all your financing contact with executive summary
    abclandllc@hotmail.com

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