September 12, 2014
AN EVENT OF GLOBAL CROSSROADS: NAVIGATING THE WORLD
THE ROAD AHEAD FOR THE
SOLAR PV INDUSTRY
Steyer-Taylor Center for
Energy Policy and Finance
WELCOME
We are pleased to host the third annual Global Crossroads: Navigating the World
conference here at Stanford Graduate School of Business. Our topic this year, The Road
Ahead for the Solar PV Industry
mechanisms, and public policy are likely to impact the future of the solar industry.
This conference brings together representatives from the solar photovoltaic industry,
the investment community, government agencies, and academic research institutions.
Through presentations and interactive discussion, we seek to address to what extent
there is a continued need for public policy support, both federally and at the state level,
in order for solar PV to continue on its recent growth trajectory.
While there is little controversy that system prices have come down at a rapid pace in
recent years and new installations of solar power have exhibited high growth rates, there
are questions as to whether these trends are likely to continue for the foreseeable future.
One central topic in this context is the anticipated step-down of the federal Investment
Tax Credit on January 1, 2017.
We are excited to have such an accomplished group of experts contributing to our
discussion at Stanford. Thank you for joining us, and welcome to the 2014 Global
Crossroads conference.
Stefan Reichelstein
William R. Timken Professor of Accounting
Graduate School of Business, Stanford University
Senior Fellow, Stanford Woods Institute for the Environment
Faculty Research Director, Steyer-Taylor Center for Energy Policy and Finance
AGENDA
Friday, September 12, 2014
8:15–8:45a.m.
Registration and Continental Breakfast
8:45–8:50a.m.
Welcome
Stefan Reichelstein, Professor, Stanford Graduate School of Business
8:50–9:00a.m.
Opening Remarks
Mike Carr,
9:00–10:00a.m.
SESSION 1: Module Manufacturing and Large-Scale Deployment Perspective
Presenter: Tom Werner,
Discussants:
David Brochu
Frank DeRosa
10:00–10:15a.m.
Break
10:15–11:15a.m.
SESSION 2: Government and Regulatory Perspective
Presenter: David Hochschild,
Discussants:
Andrew Beebe
Dan Reicher
11:15–11:30a.m.
Break
11:30a.m.–12:30p.m.
SESSION 3: Future of Photovoltaic Technologies Perspective
Presenter: Michael McGehee,
Discussants:
Joseph Laia, Co-Chair, CIGS PV Roadmap
Gregory Wilson
12:30–1:30p.m.
Lunch
1:30–2:30p.m.
SESSION 4: Economic and Financing Perspective
Presenter: Douglas Kimmelman,
Discussants:
Raymond Wood
J. Radford Small, Managing Director, Goldman Sachs
2:30–2:45p.m.
Break
2:45–3:45p.m.
SESSION 5: Distributed Generation Perspective
Presenter: Edward Fenster, Cofounder and Chairman, Sunrun Inc.
Discussants:
Sanjay Ranchod
Counsel, SolarCity Corporation
Thomas Bottorff
3:45–4:45p.m.
SESSION 6: Panel Discussion on the Road Ahead for the Solar PV Industry
Moderator: Vishal Shah, Managing Director, Deutsche Bank
Panelists:
Minh Le
Tom Starrs, Vice President, Market Strategy and Policy, SunPower Corporation
Mark Rothleder, Vice President, Market Quality and Renewable Integration,
California Independent System Operator
Bertrand Valdman
4:45-5:00p.m.
Wrap-Up
5:00p.m.
Reception
PRESENTERS
Stefan Reichelstein
Professor, Stanford Graduate School of Business (GSB)
has introduced new courses on sustainability and clean energy at Stanford GSB. Reichelstein’s research
undergraduate studies in economics at the University of Bonn in Germany.
Mike Carr
Principal Deputy Assistant Secretary, Office of Energy Efficiency and Renewable Energy (EERE),
U.S. Department of Energy
from the University of Colorado, Boulder.
Tom Werner
President and Chief Executive Officer, SunPower Corporation
a vice president and general manager of the Business Connectivity Group of 3Com Corporation.
bachelor's degree in industrial engineering from the University of Wisconsin, Madison; a bachelor's degree
David Hochschild
Commissioner, California Energy Commission
from Swarthmore College.
Michael McGehee
Professor of Materials Science and Engineering, Stanford University
Michael McGehee is a professor in the materials science and engineering department, director of
scale, semiconducting polymers, and solar cells. McGehee has taught courses on nanotechnology,
undergraduate degree in physics from Princeton University and his PhD degree in materials science
from the University of California, Santa Barbara. McGehee won the 2007 Materials Research Society
Douglas Kimmelman (BA ’82)
Senior Partner, Energy Capital Partners
include more than 2,500 miles of gas and oil gathering pipeline systems in multiple shale basins and a
exclusively on electric and gas utility matters. Kimmelman received a BA in economics from Stanford
University and an MBA from the Wharton School.
PRESENTERS continued
Edward Fenster (MBA ’07)
Cofounder and Chairman, Sunrun Inc.
attracted capital to support the purchase of more than $2 billion in solar systems and has raised
University.
Vishal Shah
Managing Director, Deutsche Bank
for coverage of clean technology, engineering/construction, and machinery sectors. Shah has more
’
DISCUSSANTS
David Brochu (MS ’86)
Frank DeRosa
Chief Operating Officer,
Chief Commercial Officer,
Recurrent Energy
North America, SunEdison
David Brochu is the chief operating
assuming this role, he served the
company’s senior vice president of
development for four years. Brochu was previously the president
for origination and development of
utility-scale solar in the United States DeRosa is an energy
executive with broad national and international experience
SmartSignal Corporation, the executive vice president at
Acumence, and the director of sales at Wonderware Corporation.
senior vice president and regional manager of the Americas
engineering from Stanford University.
Company and ran the Renewable Portfolio Standard program.
Andrew Beebe
Dan Reicher (JD ’83)
Vice President, Distributed
Executive Director, Steyer-Taylor
Generation, NextEra Energy Inc.
Center for Energy Policy and
Andrew Beebe is the vice president
Finance, Stanford University
Dan Reicher is the executive
director of the Steyer-Taylor
company in the United States
Reicher has more than 25 years of experience in energy
as the vice president of global product strategy and drove
Clinton administration as the assistant secretary for energy
internet entrepreneur who founded Bigstep.com, a small
change and energy initiatives. Reicher holds a BA in biology
business e-commerce platform. Beebe graduated from
Dartmouth College.
DISCUSSANTS continued
Joseph Laia
Gregory Wilson
Co-Chair, CIGS PV Roadmap
Director, National Center
for Photovoltaics, National
Renewable Energy Laboratory
industries over the past two
years. Prior to this, he served as
the president and chief executive
(NREL)
Greg Wilson is the director of the
holds a bachelor’s degree in chemistry, a master’s degree, and
a doctorate in materials science and engineering from the State
engineering from Washington University.
Raymond Wood
J. Radford Small
Managing Director, Head of U.S.
Managing Director,
Power and Renewables, Bank of
Goldman Sachs
America Merrill Lynch
Radford Small is the chief operating
Ray Wood is the managing director
and head of U.S. power and
and Renewables group within
relationships and executing transactions in the alternative
energy and power sectors. Small has specialized in the
offering. Wood received a BA from Dartmouth College and an
Sanjay Ranchod (JD ’01)
Thomas Bottorff (MS ’76)
Senior Director of Policy and
Senior Vice President,
Electricity Markets, Regulatory
Regulatory Affairs, Pacific Gas
Counsel, SolarCity Corporation
and Electric Company
Tom Bottorff is a senior vice
director of policy and electricity
at SolarCity. Ranchod leads SolarCity’s legislative, regulatory,
and advocacy interests in California and other western states.
Commission in Washington, D.C. Bottorff received a bachelor
of science degree in electrical engineering from the University
renewable energy companies and other businesses on
California. Bottorff serves on the boards of directors of several
Minh Le
Tom Starrs
Director, Solar Energy
Vice President, Market
Technologies Office,
Strategy and Policy, SunPower
U.S. Department of Energy
Corporation
Tom Starrs is SunPower’s vice
company since 2009. Starrs has more than 20 years’
multi-year portfolio of research, development, demonstration,
and deployment programs to achieve the goals of the
semiconductor and solar industry developing technologies
and scaling new technologies to high-volume manufacturing.
experience in and around the solar power industry, including
DISCUSSANTS continued
Bertrand Valdman
(MA ’86, PhD ’87)
Senior Vice President, Strategic
Planning, Edison International
in competitive businesses and is
responsible for managing these entities at a newly formed
electric and natural gas distribution operations, as well as the
customer service, information technology, and community
doctoral degrees from Stanford University.
Mark Rothleder
Vice President, Market Quality
and Renewable Integration,
California Independent System
Operator (ISO) Corporation
Rothleder is a registered professional electrical engineer in the
from the California State University, Sacramento, and an MS
in information systems from the University of Phoenix. Prior to
NOTES
ABOUT
Stanford Graduate School of Business
Stanford Graduate School of Business (GSB) aims to change lives, change organizations, and change
the world. The mission of Stanford GSB is to create ideas that deepen and advance the understanding of
business and management. These ideas help develop innovative, principled, and insightful leaders who
create meaningful and impactful change.
innovative programs. These programs engage the highest quality students with world-class faculty
executives, and the broader world community. The state-of-the-art Knight Management Center offers
learning. It also serves as a convening space for major forums and discussions.
Global Crossroads: Navigating the World Series
GSB holds a Global Crossroads conference focusing on a topical phenomenon that has worldwide relevance.
The gatherings provide participants with new learnings, new perspectives, and new questions to research.
Steyer-Taylor Center for Energy Policy and Finance
communicating the results of its work, and training the next generation of practitioners.
STANFORD GRADUATE SCHOOL OF BUSINESS
STEYER-TAYLOR CENTER FOR ENERGY POLICY AND FINANCE
Knight Management Center
Stanford University
655 Knight Way
Stanford, CA 94305-7298
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