MBA Project Ideas:

Following are several potential projects for students interested in the MBA Clean Energy Network. This list
is intended to offer specific ideas for future coursework. Students are encouraged to adapt these topics
to specific course requirements. Professors and students are also encouraged to suggest other project
topics not on this list. Students interested in participating in the MBA Clean Energy Network should
contact Cameron Brooks, Project Director, Clean Energy Group (Cameron@cleanegroup.org)

Public Finance Mechanisms

Last year, students from Stanford University and George Washington University conducted an in-
depth examination of public revenue bonds as a source of capital for clean energy projects. Their
research highlighted a number of structural challenges to revenue bonds, as well as a number of
possible opportunities. CESA is now exploring new opportunities for municipal and public bonds
to fund infrastructure projects and clean energy for specific applications (such as low-income
housing, security, power reliability). Student participation will can help advance this research.

Renewable Energy Credits and New Finance Products

Many states are actively creating mechanisms for tracking and implementing renewable energy
credits (RECs). RECs are a vital part of most state renewable portfolio standard programs, but
many challenges remain. What is the potential effect of cap and trade systems on clean energy
development, innovation and finance? Are there experiences from Europe that help answer this
question? Some states, notably Massachusetts, are experimenting with financial products such as
put options to help support the monetization of RECs and the development of new clean energy
products. Student assistance could provide vital analytic analysis of ongoing activities in this area
and possible market solutions.

Public Fuel Cell Alliance

CESA manages an alliance of federal and state fuel cell and hydrogen infrastructure funding
programs – the Public Fuel Cell Alliance (PFCA). The PFCA is now exploring how to develop
financial incentives that target specific, high-value applications of fuel cells. This might include
using fuel cells in security and emergency facilities, power quality for the grid and power
reliability for critical use facilities. Student projects that conducted market assessment of specific
technologies and applications would be very valuable.

Education and Awareness

In their efforts to support voluntary markets, state clean energy funds across the U.S. are
investing a significant amount of resources to make the public more aware of clean energy. In a
survey of state clean energy funds across the U.S., nine funds indicated that collectively they will
be investing over $10 million a year in public awareness and education initiatives. In collaboration
with the Connecticut Clean Energy Fund, CESA is now focusing on how to best track and evaluate
the success of these programs.

MBA Clean Energy Network Development

We have found that there are students at all of the leading business and environmental
management schools across the country who are interested in clean energy issues. Similarly,
there are opportunities to build off existing internship and consulting programs to create new
opportunities for student projects. We could use support from existing students to develop these
new programs.
 MBA Clean Energy Network Project Ideas…2

Clean Energy and Economic Development

Numerous studies and analyses have attempted to quantify the economic development potential
of clean energy projects and technologies. Increasingly, this economic development argument is
proving persuasive to key decision makers. However, there has yet to emerge a consensus about
the methodology or assumptions underlying these studies. A very useful student project ouwl dbe
to conduct a survey and critical analysis of a sampling of these studies.

Investment Case Studies

Many of the CESA member are experimenting with new investment vehicles for renewable energy
projects and companies. The Massachusetts Technology Collaborative’s Renewable Energy Trust
has invested on an equity basis in technology companies such as Evergreen Solar and Konarka.
Others, such as Pennsylvania’s Sustainable Development Fund, have provided subordinated debt
for wind projects. CESA is interested in publishing case studies of these new public investments.
Students could be instrumental in developing the appropriate data, analysis and preliminary
writing to create these case studies for eventual publication.

Institutional Investors
Recently, there has been increasing interest among state pension funds and other financial
institutions in incorporating ways to address the future risks of climate change in their investment
decisions. Two California public pension programs – CalPERS and CalSTRS – recently announced
initiatives to create new investment allocations dedicated to the clean energy sector. CEG is
developing initiatives to help these investors assess the risk/reward relationships in these
relatively immature clean energy markets. Useful student projects could include a market analysis
of existing public pension programs, investment allocations and market opportunities.

Please note: This list of project is intended to help spur creative thinking. The specific tasks and
deliverables of any project will likely require careful attention the individual course or curriculum
requirements of students. CEG encourages students interested in a particular subject or project to
contact Cameron Brooks to discuss appropriate project scopes, milestones and deliverables.

MBA Clean Energy Network is managed by:

Clean Energy Group • 50 State Street • Montpelier, VT 05602
(802) 223-2554 • fax (802) 223-4967
cameron@cleanegroup.org
www.cleanenergystates.org