oneia morgan solar presentation
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TRANSCRIPT
ONEIA: Chasing the Wind & Sun
Renewable Energy in Ontario Challenges & Opportunities
Nicolas Morgan, Co-founder, VP Biz Dev416.203.1655 [email protected]
Sun SimbaLow cost, high efficiency PV panels
Investors Funding & Support
$9.2 million in Angel, VC & strategic investments
$10.3 million in Canadian & US Government funding
Political Stuff
Conservatives will change the Green Energy Act
Liberals will too!
FIT rates will drop either way
Lessons Learned
• Investors & Project Finance are out there, and yes, in Canada too
• Governments can and will help
• In both cases:
Figure out who, then ask them for advice.
“What are you looking for?”
Follow up on rejection, learn! Try again!
Lessons Learned• Big players will work with a small company
• Get top people on-board early (worry if you can’t)
• Early on, their contribution should be easy, low risk & cheap, but NO FREEBIES!
• Easier to propose a project than join one.
• Time-vampires and needy partners get dropped VERY easily
Lessons Learned• Are your customers really your focus?
• Should focus on the bankers, which means:• Show how you’re going to prove your claims.
• Don’t avoid talking risks.
• Never try TWO new things at once.• Understand project finance, taxes & full costs.
Customers are plentiful,customers with money are rare.
There is a demand for “better”
• Better = New, but also risky • Cost! “No premium electrons”• Lower LCOE vs. Racing Stripes• But not all racing stripes are equal
Racing Stripes?
100 km Upwind from Toronto
Opportunities
Crowded Markets in Solar:• 10 MW Solar farms• Rooftops• Ground-mounted MicroFIT
• Too much focus on “site”
• Not enough differentiation
• Many 100 kW to 2 MW projects out there.
Finance at smaller scale: More options & less painful.
Opportunities
• Many opportunities vs. “my baby” • Most projects fail before they start• So, get to “No” quickly (and often)
Mother Cat Queen BeeMother Bear
