
Energy Gang Clean energy finance in uncertain times | live from day 1 of the ACORE Finance Forum in New York
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Jun 5, 2025 Ray Long, President of ACORE, shares insights on the mounting uncertainties in the clean energy sector due to Congressional debates over tax credits. Meghan Schultz, CFO of Invenergy, stresses how these uncertainties affect their operations as the largest US independent power producer. Ted Brandt, CEO of Marathon Capital, discusses potential fallout if subsidies are eliminated. They also highlight rising demand from data centers, the implications for electricity prices, and the competitive energy landscape between the US and China.
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Tax Credit Uncertainty Paralyzes Planning
- Hyperscalers contract power mainly for near-term projects due to policy uncertainty.
- Uncertainty beyond 2027-2028 paralyzes investment and planning for longer-term renewable projects.
Hyperscalers Are Price Insensitive
- Hyperscalers are price insensitive in the short term, as energy costs are a minor portion of their business.
- Despite that, existing subsidies strongly influence project pricing and development economics currently.
Tariffs Increase Costs for Sponsors
- Tariff costs add to renewable project expenses and ultimately increase power prices.
- These tariff risks are borne by project sponsors, not lenders or tax equity investors.
