AEE: Advanced energy industry revenues grew to $238B in 2018

Utility Dive | April 29, 2019

The U.S. advanced energy industry generated $238 billion in revenues in 2018, up $25 billion or 11% over 2017, according to a new report from Advanced Energy Economy (AEE). The top three growth sectors are advanced transportation, building efficiency and advanced fuel production the report found, accelerating by $7.9 billion, $7.8 billion and $5.4 billion, respectively. Advanced electricity generation also grew 8% in 2018, reaching $59.6 billion in revenues. The sector's 11% billion growth in 2018 was almost four times the growth of the U.S. economy last year, and the industry as a whole is worth $1.2 trillion globally. Newer, cleaner resources like solar and wind are rapidly becoming more economic compared to traditional sources like coal, and that competition is driving a full industry of advanced energy technologies, according to the AEE report. "Advanced" defines "an entire marketplace that is replacing legacy infrastructure and products and services with energy that is clean, secure and affordable," AEE CEO Nat Kreamer told Utility Dive.

Spotlight

There is a lot more to this subject than I have covered in this video, this is just the basics. I have used the Wind Turbine Handbook as my primary reference material, it covers pretty much everything you need to know about wind turbines.

Spotlight

There is a lot more to this subject than I have covered in this video, this is just the basics. I have used the Wind Turbine Handbook as my primary reference material, it covers pretty much everything you need to know about wind turbines.

Related News

ENERGY

Ameresco Awarded 10-MW Slemon Park Microgrid Project

Ameresco | January 21, 2022

Ameresco, Inc., a leading cleantech integrator specializing in energy efficiency and renewable energy, announced that it has been awarded the Slemon Park Microgrid project, which it will develop in collaboration with Prince Edward Island (PEI) Energy Corporation. The Slemon Park Microgrid will consist of a 10-MW solar facility with direct current-coupled energy storage, meaning that the co-located solar and energy storage assets will share the same interconnection. Implementation of behind-the-meter energy storage solutions, as well as a small deployment of residential energy storage systems, will benefit Slemon Park commercial businesses and local residents by storing energy for later use. By incorporating energy storage components to better balance renewable energy generation, the microgrid will help manage peak load demands within Slemon Park and is expected to offset approximately 4500 tonnes CO2e/year over its useful life. The Slemon Park Microgrid project will further our goal of achieving Net Zero energy by 2030 on Prince Edward Island. With the addition of a new, clean renewable energy grid, we’ll be able to better reduce our baseline greenhouse gas emissions and create a more resilient future.” Steven Myers, Minister of Environment, Energy and Climate Action Ameresco and PEI Energy Corporation will work collaboratively with the Slemon Park Corporation to utilize the park’s unique infrastructure to successfully implement the microgrid. The completed project will enhance local economic development and strengthen renewable energy solutions in Prince Edward Island. “We are so excited to partner with PEI Energy Corporation on such an impactful project. Improving grid resiliency will enable the province of Prince Edward Island to successfully implement renewable energy projects that will help serve to protect the Island’s environment and lead to a more sustainable and economically robust future,” said Bob McCullough, President, Ameresco Canada. Construction began in December 2021 with a target energize date scheduled for Fall 2022. Federal funding for this project is provided by Natural Resources Canada’s Smart Grid Program, part of the Government of Canada’s Investing in Canada Infrastructure Program: Green Infrastructure stream. About Ameresco, Inc. Founded in 2000, Ameresco, Inc. is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. About PEI Energy Corporation In Prince Edward Island, the PEI Energy Corporation is responsible “to develop and promote the development of energy systems and the generation, production, transmission and distribution of energy in all its forms on an economic and efficient basis, to provide financial assistance for the development, installation and use of energy systems, and to coordinate all government programs in the establishment and application of energy systems in the province.” The Province of Prince Edward Island has developed a North American, if not global, reputation in the development of renewable energy. PEI has always been viewed as an innovator in developing, demonstrating and deploying renewable energy systems with due regard for the environment. PEI has a strong reputation as a leader in the development of its wind resources with the highest per capita penetration of this renewable energy in its provincial electricity portfolio.

Read More

INDUSTRY UPDATES

Vestas Launches 15 MW Offshore Wind Turbine

Vestas | February 11, 2021

Vestas announced designs for a 15 megawatt (MW) seaward wind turbine on Wednesday, with the Danish firm wanting to introduce a model one year from now prior to sloping up creation in 2024. As per the Aarhus-settled organization, the monster V236-15.0 MW turbine will actually want to create about 80 gigawatt hours out of every year. This, it claims, would be sufficient to control roughly 20,000 European family units, saving more than 38,000 metric huge loads of carbon dioxide all the while. Vestas is the furthest down the line organization to push forward with the improvement of a sizeable seaward wind turbine. GE Renewable Energy's Haliade-X can be arranged to 12, 13 or 14 MW, while Siemens Gamesa Renewable Energy is chipping away at a 14 MW turbine which can likewise be helped to 15 MW whenever required. As innovation has created, the size of wind turbines has expanded. In a new report, industry body WindEurope said the normal appraised limit of turbines introduced in Europe a year ago was 8.2 MW, a 5% expansion on 2019. Limit alludes to the greatest sum a turbine can deliver, not really the thing it is presently producing. Wednesday likewise saw Vestas discharge its yearly report for 2020. The firm said its benefit for the year came in at 771 million euros ($934 million), somewhat better than the 700 million euros it detailed for 2019. Vestas' income in 2020 hit 14.8 billion euros, a 22% expansion contrasted with 2019.

Read More

ENERGY

Ares Management Corporation Announces Agreement to Acquire AMP’s PrivateMarketsCo Infrastructure Debt Platform

Ares Management Corporation | December 27, 2021

Ares Management Corporation (“Ares”), a leading global alternative investment manager, announced that its subsidiary, Ares Holdings L.P., has entered into a definitive agreement to acquire AMP’s PrivateMarketsCo Infrastructure Debt platform (“Infrastructure Debt”), one of the largest infrastructure debt investment platforms globally with approximately US$8 billion in assets under management, as of September 30, 2021. The transaction consideration is A$428 million (US$308 million) and will be funded using cash on hand and Ares’ US$1.1 billion revolving credit facility. The Infrastructure Debt team is led by its Global Head, Patrick Trears, and has 17 dedicated investment professionals located across London, Sydney, Singapore and New York. The team has established a strong risk-adjusted, long-term track record investing approximately US$9 billion of capital across nearly 60 transactions globally with a focus on the digital, utilities, transportation and renewable energy sectors. With a leading reputation among sponsors and developers, the team brings robust direct investment origination and high-quality deal flow capabilities. Given its strong positioning and the compelling market dynamics, the Infrastructure Debt platform has been a leading fundraiser over the past five years with support from a global investor base of approximately 100 institutional investors. This transaction adds complementary investment capabilities to Ares’ current activities in the rapidly growing infrastructure asset class. The Infrastructure Debt team is anticipated to expand and enhance Ares’ existing infrastructure strategy, which has historically focused on value-add equity and flexible capital across the power and climate infrastructure sectors. As part of Ares, the Infrastructure Debt team will be positioned to benefit from the advantages of Ares’ scaled global platform that includes its leading private credit franchise. This combination is expected to bolster future investment, market intelligence and fundraising efforts. We are pleased to announce this acquisition of a highly complementary infrastructure debt platform. We believe that this strategic combination will further propel our infrastructure investment capabilities and expand our global footprint.The team shares a similar credit mindset with Ares, and our infrastructure leadership has enjoyed a great relationship with Patrick and other senior leaders for over a decade. Together we believe we are well-positioned to leverage the full scale of the Ares platform and relationships to provide optimal capital solutions for our investment partners and generate attractive risk-adjusted returns for our investors.” Michael Arougheti, Chief Executive Officer and President of Ares Upon closing of the transaction, Infrastructure Debt will be led by Patrick Trears and will be reported as part of a new segment for Ares called the Ares Real Assets Group. This segment will also include Real Estate led by Bill Benjamin and Infrastructure Equity led by Keith Derman and Andrew Pike. The Ares Real Assets Group would represent approximately US$48 billion of assets under management as-adjusted for the transaction, as of September 30, 2021. The transaction is expected to be immediately accretive to Ares’ after-tax realized income per share of class A common stock. It is expected to close in the first quarter of 2022 and is subject to customary closing conditions, including satisfaction of applicable regulatory requirements. Morgan Stanley & Co. LLC acted as financial advisor to Ares and Kirkland & Ellis LLP and DLA Piper served as legal counsel. Broadhaven Capital Partners acted as financial advisor to PrivateMarketsCo and Nixon Peabody served as legal counsel.

Read More