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7/31/2019 Joel Conkling - Clean Energy and Sustainability
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Google Confidential and ProprietaryGoogle Confidential and Proprietary
Clean Energy & Sustainability
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7/31/2019 Joel Conkling - Clean Energy and Sustainability
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Google Confidential and Proprietary 2Source: http://www.cashedge.com/pressRoom/news_070104_bst.html
I think its important for us to have asustainable business and I thinkthats very achievable.
Larry PageCEO, Google Inc.
7/31/2019 Joel Conkling - Clean Energy and Sustainability
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Google Confidential and Proprietary
Google Confidential and Proprietary 3
Googles approach
7/31/2019 Joel Conkling - Clean Energy and Sustainability
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Google Confidential and Proprietary 4
Building an efficient clean energy future.
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Google Confidential and Proprietary
Renewable Energy Investments
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Google Confidential and Proprietary
How much has Google invested so far?
Goals
Financial returns Innovation Large scale impact Encourage other companies
$915M+ Portfolio
1.8 GW of projects 350,000 homes
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What renewable investments has Google made?
$94MRecurrent Energy
solar PV
$168MBrightSource Ivanpahsolar power tower
$355MClean Power Finance &
Solar City (rooftop solar)
$5MGerman Solar
PV plant
$157MAlta Wind
Projects IV & V
$39MPeace Garden
Wind farms (ND)
$100MShepherds Flat
Wind Farm
Atlantic WindConnection (offshore
transmissionbackbone)
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Why is Google here at the Clean Energy Forum?
Google is expanding its renewable investment efforts outside of U.S.borders
Optimistic about the growth potential in Asia
15 offices and thousands of employees in the region
Economic growth and growing demand for energy helps set thestage for attractive investment opportunities
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What lessons does the U.S. solar energy markethave to offer?
Deal structuring can be a powerful tool to mitigate risks and attractinvestors
Many small power purchasers (e.g., homeowners) can make up alow risk investment
Aggregating lots of small systems can bring capacity online fasterthan utility scale systems can be completed
Renewable energy customers show a strong preference to payingover time instead of up front
Distributed solar can alleviate areas where the electricity grid isfacing constraints
Consistent and reliable policy support are critical for helping the
renewable industry grow9
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Whats an example of an innovative deal structure?
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Residential Customers
Energy production OriginationInstallation
O&MAdmin / billing
Monthlyenergy
payments
Monthlylease
payments
System cost
US$280 millioninvestment in residentialPV systems
Deal Summary
Customer
Renewable energywhile saving moneyfrom Day 1
SolarCity
Capital to expandtheir business
Owner of PV system Predictable lease
payments
SolarCity in firstloss position
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What are renewable investors considering in theirassessments of the opportunity to invest in Asia?
Fundamentals
Economic growth
Electricity supply and demand
Cost of supply compared to alternatives
Stability
Regulatory support
Political stability
Sustainability and fairness
Win-win projects
Transparency
Partners
Strong track records and outlook
Alignment of vision and goals
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Conclusions
Tremendous growth potential for solar energy in Asia
Grid parity
Energy access
Distributed solar could be larger (faster) than centralized, utility scalesolar
Building on learnings in other markets could accelerate the growth ofsolar in Asia
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