Renewable Energy and Smart Grid Suppliers Forum: Emerging Opportunities for U.S. Firms

Firms was held to explore the potential for U.S. companies to participate in the growing renewable energy and smart grid markets in developing countries. Between 2012 and 2016, developing country markets attracted a total of $623.5 billion in renewable energy investments, accounting for 47 percent of global investments. In 2015 and 2017, renewable energy investments in developing countries exceeded those in developed countries. Developing country investments in electricity generation from renewable energy sources have increased rapidly as costs have declined due to technological changes and economies of scale in manufacturing. Reverse auctions for renewable electric power capacity and generation have improved price discovery and competition, resulting in record low bids for new solar and wind power capacity in countries such as Chile, India, Mexico, Morocco, Peru, and Zambia. While most smart grid investment has occurred in developed countries, developing countries are now positioned to quickly catch up. By 2017, North America, Western Europe, and East Asia represented more than 75 percent of the market for smart meters and many of the pioneering distribution automation, analytics, home energy management, and other smart grid initiatives. However, developing countries are now investing in smart grid technologies, including smart meters, distribution automation, and energy storage. The forum brought together U.S. energy companies and experts, including Bloomberg New Energy Finance, which served as a media partner. Representatives from various U.S. government agencies provided valuable contributions to the organization and successful completion of the event. The forum aimed to identify emerging opportunities for U.S. firms in the renewable energy and smart grid markets in developing countries. The Climate Economic Analysis for Development, Investment, and Resilience (CEADIR) Activity, which funded the forum, would like to thank Dr. Eric Hyman, the Contracting Officer's Representative and Activity Manager for Economic Analysis and Policy and Sustainable Landscapes, Matthew Ogonowski, the Activity Manager for Clean Energy, and Kristen Madler, the Activity Manager for the Energy and Infrastructure Office. Additional editorial support was provided by Leah Quin, Loretta Bauer, Deborah Ventimiglia, and Alexa Smith-Rommel of Abt Associates. The CEADIR Activity is grateful to the U.S. energy companies and experts participating in the forum, including Bloomberg New Energy Finance, which served as a media partner. Representatives from various U.S. government agencies provided valuable contributions to the organization and successful completion of the event, including Kristen Madler, Raul Flores, Ryan Tramonte, Vickie Gunderson, David Riposo, Jason Whitney, Bethany Speer, Kristin Clary, J.A. Colantonio, Danielle Caltabiano, Craig O'Connor, and others. The forum highlighted the significant investments in renewable energy and smart grid technologies in developing countries, driven by the transformation of their energy industries. The investments have been driven by declining costs due to technological changes and economies of scale in manufacturing, as well as improved price discovery and competition through reverse auctions. The forum aimed to identify emerging opportunities for U.S. firms in the renewable energy and smart grid markets in developing countries, and to facilitate collaboration and partnerships between U.S. companies and developing country governments and private sector entities.