Lazard in the News: Sam Scroggins discusses Solar Market in Reuters

Increasing M&A activity in the U.S. solar market has the potential to propel greater investment in and deployment of renewable energy sources, says Lazard Director Sam Scroggins, quoted by Reuters Events. 

"We are seeing an increasing interest in horizontal and vertical integration, an increasing trend relative to 18 to 24 months ago," Sam, a director in the Power, Energy & Infrastructure Group, told the news outlet. 

A more consolidated solar market with larger and fewer companies will be better prepared to mitigate further supply chain challenges and macroeconomic impacts going forward, Sam continued, which should help to limit the impact on solar costs.

Nonetheless, he added, while many solar firms will seek scale, smaller regional developers with local expertise will continue to play an important role.

"There is a need for development companies that are nimble and intimately connected with local communities, where development really matters. We are seeing developers sell projects early in the development life cycle, which allows larger owners and operators to extract incremental value from the supply chain, offtake negotiations and financing," Sam said.

Read the Reuters article, which also quotes Lazard's 2023 Levelized Cost of Energy study.