Renewable energy gains momentum
Bloomberg New Energy Finance and the Business Council for Sustainable Energy have released a report, titled “Sustainable Energy in America 2013 Factbook,” that shows power generation capacity from biomass and waste feedstocks increased from 13.9 gigawatts (GW) in 2008 t0 14.7 GW in 2012. “Since 2008, interest in dedicated biomass combustion has started to pick up, driven by attractive states subsidies or feedstock availability,” said BNEF and BCSE in the report.
The report shows that annual asset finance for biomass generation averaged more than $900 million from 2008 through 2012. This is a substantially lower amount than found in the wind in solar sectors, which the report attributes to a smaller number of bankable products. The authors of the report also assert that capital tends to be available for biomass projects that have a power purchase agreement in place, as well as an experienced EPC contractor and protection against feedstock availability and price risk.