20,000 GWh per annum at a 35% capacity factor will require 6523MW of renewable generation to be built. Now a MW of renewables costs about $1.7M to install, therefore this measure should result by 2020 in $11.1Billion dollars of capital investment.
This is actually very positive for PHY as the uncertainty is washing away. The bankers will now put up the money for new projects and the brokers will be putting out updates on PHY based on this paper over the next few days.
