Business and Technical Prospects of Renewable Energy

(Executive Panel Discussion)
Emerging Technologies Seminar: Friday, March 23, 2007

This panel brings together specialists from industry, venture funds and academe to discuss opportunities and challenges of alternative energy sources. The panelists are experts in what are currently among the most promising renewable energy fields — wind, solar photovoltaic, and biofuels — as well as in the management of a sustainable energy fund. They will review both the technical and business aspects of renewable energy. Students will have the opportunity to join the conversation and question the panelists.

Panelists and their topics:

1. Introduction to the Role and Expected Future of Renewable Energy
   
   Noam Lior, Panel Moderator, Professor of Mechanical Engineering and Applied Mechanics, University of Pennsylvania, Editor-in-Chief of ENERGY — The International Journal, and Regional Editor for North America and Europe, of the Energy Conversion and Management Journal
   
   Intensively involved in energy education, research and consulting for about 33 years, Lior's research in energy, partially in collaboration with scholars from Asia and Europe, includes solar, fossil fuel and nuclear, as well as their ecological impacts. He has more than 200 publications, is a frequent invited keynote speaker about the world energy technology and status at international energy conferences, and is a member of the board of editors of journals in water desalination and heat transfer.
   
   In addition to introducing the panel, Lior will comment on the motivation for using renewable energy and the associated obstacles, as well as provide a brief description of other renewable energy fields not covered by the panelists: hydropower, geothermal, solar-thermal, and wave and tidal energy.



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2. Wind Power
   
   Mathew Olive, Commercial Account Manager, Gamesa Wind, North America
   
   Currently responsible for terms and sales of $500 million annually in turbine supply and maintenance agreements, Olive also serves as marketing manager for North America. In 2004-05, he co-founded Renovatec, a venture capital startup focused on <10MW Hydro energy projects in Latin America. Olive holds a BS in civil and environmental Engineering from the University of Illinois and an MBA from IESE Business School, Barcelona, Spain. He previously served as an environmental and civil engineering consultant with URS Corporation in the U.S. and Mexico.
   
   Talk abstract:
   The wind energy industry is at its tipping point in the USA. Through coherent policy, renewable energy has the potential to revolutionize the energy industry in a relatively short time horizon. We will discuss the current state of the industry and the drivers of a sudden change which brought the industry to this stage. This, and studying the development of the wind industry in Europe, will allow us to look forward to see what it will need to flourish as well as potential risks and limitations. We will take a high level look at what it takes to build a wind project and how this is constrained by the various pieces of the value chain as a result of a sudden demand spike. Finally, a glimpse at the various business models within the wind energy industry and how these will create career opportunities.



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3. Solar Electric Power for the 21st Century
   
   Allen M. Barnett, Executive Director, Solar Power Program; Research Professor, Department of Electrical and Computer Engineering; Senior Policy Fellow, Center for Energy and Environmental Policy, University of Delaware
   
   Prof. Barnett is Program Manager for the $53 million Very High Efficiency Solar Cell project which is developing a 50% efficient solar cell for portable applications. He is on the Steering Committee and Head of Research Committee of NSF-IGERT for Sustainable Energy from Solar Hydrogen. His engineering research is focused on developing very high performance, next generation photovoltaic solar cells and on the interdisciplinary basic research needs to further advance solar power. His policy work is focused on further developing the value propositions for the solar electric power industry. Among his key projects is providing leadership for the United State's Solar Power Industry Roadmap — a national, domestic solar power plan.
   
   Barnett founded AstroPower in 1983 to develop and market the world's most cost effective solar cell. AstroPower became the world's largest independent manufacturer of solar electric power products, and a leading provider of solar electric home power systems for the mainstream residential market. Most of AstroPower's assets were sold to GE Energy in 2004. Barnett holds 23 U.S. patents and has received seven R&D 100 Awards for new industrial products.
   
   Talk abstract:
   The continued development and accelerated deployment of photovoltaic solar electric power is an imperative for our society. This session will include:
   
   • Global perspective on energy from renewables
   • Photovoltaic value proposition
   • Solar cell technology options
   • Impact of Solar Power Policy
   • Ultra-high performance solar cells
   • Energy production potential
   The next 10 years are critical for worldwide solar power development. Actions by industry and government will determine whether solar power is catapulted to a new level and whether the United States will regain its position at the forefront of solar power development. Investment decisions over the next decade for research, new manufacturing, and creating new markets will determine where solar power will thrive — and where it will merely survive. Solar power can provide great value in residential and commercial grid-connected applications, for individual consumers and businesses, as well as for utilities and the communities they serve. Goals for 2030 are solar power system costs of $2.33 per watt, solar electricity prices of 3.8 cents per kilowatt-hour (kWh) delivered to the customer, installed solar power generation of 200 gigawatts (GW), and direct employment of 260,000 people.



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4. From Biomass to Advanced BioFuels
   
   Robert (Bob) R. Dorsch, PhD, Director, Biotechnology Business Development (Retired), DuPont BioBased Materials
   
   Before retiring in January, 2006, with 35 years of service, Dr. Dorsch was Director, Biotechnology Business Development, in DuPont's new Biobased Materials business. In 1994 Bob initiated the first phases of DuPont's industrial biomaterials thrust leading to the development of a renewables based process for a high performance polymer. He served as a member of the Federal Biomass R&D Advisory Committee for five years with appointments from both the Clinton and Bush administrations. In 2002, he authored the "Integrated Corn Based Biorefinery" proposal for DuPont which was funded by the U.S. Departments of Energy and Agriculture at $39 million over 4 years with 50% matching by DuPont.
   
   In the last five years, his work with the academic and governmental research community has included: Chairing the Biotechnology Panel of the Chemical Industry Vision 2020 catalyzed by the Department of Energy and subsequent efforts sponsored by the Council for Chemical Research. He has participated in numerous workshops sponsored by DOE, USDA and DOC defining the future directions for the potential of biobased chemicals and materials and has testified in the U.S. Senate and the House of Representatives on these issues. He frequently speaks on the subject of "Sustainable Chemicals and Materials" from renewable resources, including talks to the National Academy of Engineering, ACS, AIChE, BIO2000 and National Agricultural Biotechnology Council.
   
   Bob received a BS in Physics (RPI, Troy, NY) and a PhD in Chemical Physics (Institute for Molecular Physics, University of Maryland).
   
   Talk abstract:
   Biomass to renewable fuels is one of the more broadly debated and poorly understood opportunities in the technological and economic worlds. This talk with introduce the subject with a discussion of drivers at the global, national, and business levels and introduce some important technical aspects. It will present a brief view of what one major company, E. I. DuPont, is doing in this arena.



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5. "TRF Sustainable Development Fund: Incentive Financing for Clean Energy Market Development"
   
   Robert G. Sanders, Managing Director, Energy Group, and Fund Manager, Sustainable Development Fund, The Reinvestment Fund (TRF) Rob Sanders is a development professional with more than twenty years of experience in energy-related and commercial development finance. Since 1999, Rob has been employed by The Reinvestment Fund as Managing Director of its Energy Group and Fund Manager of the Sustainable Development Fund, a $32 million fund that provides company and project financing for renewable energy, advanced clean energy and energy conservation technologies. Headquartered in Philadelphia, The Reinvestment Fund is a leading innovator in the financing of neighborhood and economic revitalization with approximately $400 million under management from more than 950 investors.
   
   Prior to working with The Reinvestment Fund, Rob held several positions over a fifteen year period in CoreStates Bank's Corporate Community Development department. These positions included President of the CoreStates Community Development Corporation, Manager of the Community Business Lending Group, and Commercial Loan Officer. Prior to working at CoreStates, Rob was Business Development Specialist with the Philadelphia Commercial Development Corporation, Project Director with the National Economic Development and Law Center (Berkeley, California), and Project Director with the Madison Development Corporation (Madison, Wisconsin).
   
   Rob's current organizational affiliations include:
   
   
   Ben Franklin Technology Partners — Investment Advisory Committee
   
   Blue Hill Partners — Advisory Board
   
   Clean Energy Group — Board of Directors
   
   Clean Energy States Alliance — Board of Directors
   
   Pennsylvania Advanced Industrial Technology Fund — Investment Committee
   
   Pennsylvania Climate Change Working Group — Member
   
   Pennsylvania Energy Advisory Board — Member
   
   Rob holds a BA from Stanford University and an MCP from the University of California, Berkeley.
   
   Talk abstract:
   This talk will briefly describe the experience of managing the The Reinvestment Fund's $32 million Sustainable Development Fund, which provides performance-based grants and incentive financing to accelerate clean energy market development in Pennsylvania, particularly in regard to utility scale wind and solar PV development. My comments will focus on what the right role is for subsidy in clean energy market development, and will touch on some of the financing tools that are useful in financing clean energy-related companies and projects.
   

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