An in-depth investigation on solar finance, investments, markets, costs and technology London, UK:  16—18, June 2009
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Jenny Chase, Senior Associate, Solar, New Energy Finance, UK

What does your company do in solar and what is your role?

We provide financial information for companies with a stake in solar, such as investors, manufacturers, and project developers, to help them make decisions.

How has the current economic climate impacted on the Solar Industry?

It’s accelerated an inevitable oversupply of PV modules and a price crash which has caused immediate pain to manufacturers and project developers, but it has also led to the introduction of long-term incentive regimes which will continue to drive the sector’s success, especially now prices will once again be correlated to costs.

What are the conditions for accessing finance for solar projects?

Returns on equity and debt must be a lot higher than last year (at least 12% and 300bps) and so solar projects must be priced lower to compensate. There is also pressure for the developer to maintain an equity stake, and for all suppliers to be well-established companies.

Which technology has the best potential to achieve grid parity?

Thin-film PV.

Which market is the most interesting for solar investments today?

Italy if you can get a good project; otherwise, the Czech Republic or Ontario.

How do you think the Solar Industry will look in 5 years time?

About two dozen mega-manufacturers selling unimaginably vast volumes of commoditised crystalline silicon and thin-film by the watt. A few smaller manufacturers providing niche products, some engineering and manufacturing firms providing solar thermal electricity generation components and projects. A multitude of installers and project developers arranging the roll-out, and pension funds, independent power providers and utilities standing by to purchase portfolios of commissioned assets.