The Jamaica Public Service Company (JPS) is preparing for a battle with the Government over any attempt to review its operating licence.

The JPS was put on its guard last Friday when Government senator and chief technical adviser to the finance minister, Aubyn Hill, declared that the Andrew Holness-led administration is obliged to review the licence of the light and power company because of threats to the Jamaican economy.

Opening the State of the Nation Debate in the Senate, Hill called for a review of the modified licence issued to JPS last January, because it “seems to be quite opposed to the interest of Jamaicans”.

“We have to look at that licence carefully [and] as a new Government, we’re obliged to,” Hill told his parliamentary colleagues.

But Kelly Tomblin, the president and chief executive officer of the JPS, in a quick response, rejected Hill’s reasons for questioning the changes to the licence and expressed the hope that his comments would not suggest that Holness will shred the contract.

“I’m sure, similar to how the Government has continued on the framework for fuel diversity, that this Government certainly wouldn’t suggest that a licence negotiated in good faith, in which the JPS has made investments, would be negated by a subsequent government,” said Tomblin.

“Surely, he’s (Hill) not suggesting that,” added Tomblin.

In his Senate presentation, Hill argued that he was making the call from his position as a senator.

“Because I may have some influence on policy, I do not lose my right as a senator to bring up independent issues. My position is quite different from a recommendation, and if I gave a recommendation I probably would not be speaking on it publicly,” said Hill.

The international banker argued that the replacement of the price cap regime with the revenue cap in the licence “could dampen economic growth” because JPS’s growth is no longer tied to that of the economy.

“A good argument can be made that the revenue cap approach blunts any incentive on JPS’s part to support the expansion of renewable sources of energy or to improve efficiencies in their current business,” said Hill, who is the chairman of Innovative Renewable Energy & Electronics Limited.

He said giving the JPS the right of first refusal to replace generating plants due for retirement entrenches the company’s near-monopoly and is inconsistent with international standards and Jamaica’s national energy policy.

‘Inaccurate Conclusions’

Tomblin rejected those claims, arguing that Hill was making “inaccurate conclusions”.

“We negotiated with the Government for our licence amendments that we believe serve the country. We have about 31 guaranteed standards that are monitored by the Office of Utilities Regulation (OUR).

“Our overriding goal is to support economic growth. This (Hill’s arguments) requires a more fulsome discussion with the utility,” said Tomblin.

Hill’s call came days after the OUR announced new regulation which should give it more power to monitor the operations of the JPS and other entities which generate or supply electricity.

The regulation will govern the operational standards and established procedures for handling the generation, transmission, distribution, supply and dispatch of electricity across the island.

According to the OUR, the regulation adopts five grid codes, which are generation, transmission, distribution, supply, and dispatch.

“The codes, which were finalised in August 2016, have been developed in parallel, and are designed to be used in conjunction with each other,” said the OUR.

This is one of the 330 smart-ready street lights in New Kingston which the JPS has retrofitted to accommodate the addition of intelligent controls to the LED fixtures for the maintenance and controls of lights in the area. The smart street light initiative will be rolled out from 2017-2020.
The plan to transform Kingston into the Caribbean’s first smart city has inched closer to becoming a reality with the identification of two preferred vendors by the Jamaica Public Service Company (JPS) for its Smart LED street light project.

Petra Systems and FosRich Group of Companies in partnership with Philips Lighting, are the companies selected to spearhead the initiative, which the JPS plans to roll out across the country, starting this year.

Following the selection of the LED vendors, the next step for the energy company is to identify suitable entities for the installation of the lighting fixtures, as well as provision and management of the smart features. Its target is a total of 110,000 street lights, with consumers, the company and the entire country set to benefit.

SUPPORT CRIME FIGHTING

“In addition to lowering energy costs and improving energy efficiency, smart street lights can facilitate the smart technology to support crime fighting, through the use of image sensing (including allowing for closed-circuit television),” chief technology officer, JPS, Gary Barrow, explained in a press release, hinting also at positive environmental spin-offs. “Smart street lights will also reduce the carbon emissions from power consumption.”

Other benefits of the smart street light system include its ability to detect and report light failure per location; report maintenance and repairs of lights; as well as measure and report energy usage per lamp. The street light system will be managed by a control centre that will facilitate ease of monitoring and other aspects of management.

The JPS recently retrofitted 330 streetlights in the New Kingston area with LED lights, as part of its Smart City pilot. The next phase of the project involves the addition of intelligent controls to the LED fixtures for the maintenance and controls of the lights in the area. The smart street lights are the first phase of several technologies that will be deployed to make New Kingston one of the first smart cities in the Caribbean. The smart street light initiative is one of Jamaica’s largest energy efficiency projects and will be rolled out from 2017-2020.

Gleaner

 

The effort to mainstream gender in climate change considerations while cementing the place of women in decision-making in that arena has a supporter in Dr James Fletcher, recent head of the CARICOM Task Force on Sustainable Development.

“Women are disproportionately affected by climate change, particularly in small-island developing states. Anytime here in Saint Lucia, if there is a drought, the people you see going miles to collect water are not the men, it is the women because they are the ones who, unfortunately, have the children on their hands and the household on their hands,” he noted.

“So women are always the ones who are disproportionately affected by natural disasters, and I think there must be some sensitivity in funding to the fact that there is a gender imbalance in the impacts of climate change and other natural disasters,” Fletcher added.

He was speaking with journalists at the Marrakech Climate Talks in November last year on the issue of a lack of funding to support the gender work programme that emerged from the Lima Climate Talks two years earlier.

Decisions in that work programme include:

– To enhance the implementation of the decision to promote gender balance and improve the participation of women in United Nations Framework Convention on Climate Change (UNFCCC) negotiations and in the representation of parties in bodies established in line with the Convention or the Kyoto Protocol; and

– that additional efforts be made by parties to the convention to improve the participation of women in their delegations and in all of the bodies established under the convention.

Among other things, it also invites parties to advance gender balance and promote gender sensitivity in developing and implementing climate policy and achieve gender-responsive climate policy in all relevant activities under the UNFCCC.

However, in Marrakech – as in Lima – it emerged that financing to achieve the provisions of the work programme is a challenge.

Fletcher’s advice to the women and gender constituency is to press ahead with their efforts.

“The thing with some of these discussions is it takes a while for common sense to prevail. So things you think people would get immediately, they don’t, and you must have a lot of back and forth. But I think that is the nature of the multilateral process. People come with different agendas, different perspectives,” he said.

CONTINUING THE PROCESS

“It really speaks to the need to continue having faith in the process, to continue pressing the line, and continue developing a coalition and seeking out allies and seeing how you can get support,” added Fletcher, who is also the former sustainable development minister for Saint Lucia.

He revealed that this is what had happened in the small island developing states’ effort to have the world take up the issue of loss and damage associated with climate change.

“When we started out with loss and damage, loss and damage was quintessentially a small-island state issue, and then suddenly, other people realised ok, there is a lot of merit in this, and we started developing allies and having more people come and support our cause,” he said.

“It is unfortunate that on a gender issue you need to go in that way because you figure anybody should realise that is an issue. But I think, probably, it is one of these areas where we need to do more work and where we need to do more sensitisation and make people understand the imperative of making sure that the funding is gender sensitive,” Fletcher noted.

Gleaner

The Jamaica Public Service Company (JPS) says at least 20,000 customers are still without power due to the impact of heavy winds across Jamaica.

The heavy winds are being caused by a Cold Front which is affecting the island.

Corporate Communications Officer at the JPS, Audrey Williams, says the restoration efforts by work crews are being hampered by the windy conditions.

Williams says the majority of the customers who are still without electricity are in Kingston, St Andrew and St Catherine.

 Noting that the company’s customer care centre has been inundated by telephone calls, Williams says the JPS is appealing to customers for patience as it works to restore electricity.

As of January 1, 2017 the Ministry of Science, Energy and Technology took over responsibility for applications for net billing, electric power wheeling and auxiliary connections.

Information about the new arrangements, posted on the ministry website, comes after a period of uncertainty characterised by legislative changes, delays and temporary arrangements.

Minister of Science, Energy and Technology

Dr Andrew Wheatley announced in April 2016 that the Office of Utilities Regulation (OUR) would resume accepting applications on behalf of the ministry for net billing. This would be under similar terms as the previously concluded net billing pilot project, which ran for two years until May 2015. Up to that time, the ministry had received 351 applications for net billing, of which 311 were approved.

Net billing allows persons who produce electricity from renewable sources such as wind or solar to sell the excess to the Jamaica Public Service Company (JPS), thus offsetting the electricity consumed when they use power from the grid. The OUR was charged with the responsibility for continuing to accept applications until the details of a permanent programme were finalised.

Public education specialist at the OUR, Elizabeth Bennett Marsh, says that with changes to some aspects of the legislation, the responsibility for approving net billing was passed back to the ministry.

“There was a brief hiatus where we had stopped accepting because we said we really wanted to get everything clarified. The ministry subsequently asked the OUR to continue accepting applications. So we agreed to continue until they could sort it out, and now that it has been completed we handed over,” Bennett Marsh said.

According to the information on the ministry”s website, “All persons who are desirous of connecting to the Jamaica Public Service grid are required to obtain a licence from the minister with responsibility for energy. The Ministry of Science, Energy and Technology, therefore, advises the public that, effective January 1, 2017, all applications for net billing, electric power wheeling and auxiliary connections are to be made directly to the ministry.”

READY TO DO ITS PART

The ministry declined to comment by telephone on the new requirement and did not respond to emailed questions up to press time.

JPS Director of Corporate Communications Winsome Callum said the light and power company was aware of the changes and stood ready to do its part in adding new systems to the grid.

“This new development came out of the review of the net billing process in 2015. It was decided that the ministry would start accepting applications as of January 2017.

“JPS will continue its role in facilitating the contracts and the commissioning of the systems. We will continue our efforts to ensure that the connections are made as seamlessly and as quickly as possible,” Callum said in a written response.

Gleaner

Solar power is now cheaper than coal in some parts of the world. In less than a decade, it’s likely to be the lowest-cost option almost everywhere.

In 2016, countries from Chile to the United Arab Emirates broke records with deals to generate electricity from sunshine for less than 3 cents a kilowatt-hour, half the average global cost of coal power. Now, Saudi Arabia, Jordan and Mexico are planning auctions and tenders for this year, aiming to drop prices even further. Taking advantage: Companies such as Italy’s Enel SpA and Dublin’s Mainstream Renewable Power, who gained experienced in Europe and now seek new markets abroad as subsidies dry up at home.

Since 2009, solar prices are down 62 percent, with every part of the supply chain trimming costs. That’s help cut risk premiums on bank loans, and pushed manufacturing capacity to record levels. By 2025, solar may be cheaper than using coal on average globally, according to Bloomberg New Energy Finance.

“These are game-changing numbers, and it’s becoming normal in more and more markets,” said Adnan Amin, International Renewable Energy Agency ’s director general, an Abu Dhabi-based intergovernmental group. “Every time you double capacity, you reduce the price by 20 percent.”

Better technology has been key in boosting the industry, from the use of diamond-wire saws that more efficiently cut wafers to better cells that provide more spark from the same amount of sun. It’s also driven by economies of scale and manufacturing experience since the solar boom started more than a decade ago, giving the industry an increasing edge in the competition with fossil fuels.

The average 1 megawatt-plus ground mounted solar system will cost 73 cents a watt by 2025 compared with $1.14 now, a 36 percent drop, said Jenny Chase, head of solar analysis for New Energy Finance.

That’s in step with other forecasts.

  • GTM Research expects some parts of the U.S. Southwest approaching $1 a watt today, and may drop as low as 75 cents in 2021, according to its analyst MJ Shiao.
  • The U.S. Energy Department’s National Renewable Energy Lab expects costs of about $1.20 a watt now declining to $1 by 2020. By 2030, current technology will squeeze out most potential savings, said Donald Chung, a senior project leader.
  • The International Energy Agency expects utility-scale generation costs to fall by another 25 percent on average in the next five years.
  • The International Renewable Energy Agency anticipates a further drop of 43 percent to 65 percent for solar costs by 2025. That would bring to 84 percent the cumulative decline since 2009.

The solar supply chain is experiencing “a Wal-Mart effect” from higher volumes and lower margins, according to Sami Khoreibi, founder and chief executive officer of Enviromena Power Systems, an Abu Dhabi-based developer.

The speed at which the price of solar will drop below coal varies in each country. Places that import coal or tax polluters with a carbon price, such as Europe and Brazil, will see a crossover in the 2020s, if not before. Countries with large domestic coal reserves such as India and China will probably take longer.

Coal’s Rebuttal

Coal industry officials point out that cost comparisons involving renewables don’t take into account the need to maintain backup supplies that can work when the sun doesn’t shine or wind doesn’t blow. When those other expenses are included, coal looks more economical, even around 2035, said Benjamin Sporton, chief executive officer of the World Coal Association.

“All advanced economies demand full-time electricity,” Sporton said. “Wind and solar can only generate part-time, intermittent electricity. While some renewable technologies have achieved significant cost reductions in recent years, it’s important to look at total system costs.”

Even so, solar’s plunge in price is starting to make the technology a plausible competitor.

In China, the biggest solar market, will see costs falling below coal by 2030, according to New Energy Finance. The country has surpassed Germany as the nation with the most installed solar capacity as the government seeks to increase use to cut carbon emissions and boost home consumption of clean energy. Yet curtailment remains a problem, particularly in sunnier parts of the country as congestion on the grid forces some solar plants to switch off.

Sunbelt countries are leading the way in cutting costs, though there’s more to it than just the weather. The use of auctions to award power-purchase contracts is forcing energy companies to compete with each other to lower costs.

An August auction in Chile yielded a contract for 2.91 cents a kilowatt-hour. In September, a United Arab Emirates auction grabbed headlines with a bid of 2.42 cents a kilowatt-hour. Developers have been emboldened to submit lower bids by expectations that the cost of the technology will continue to fall.

“We’re seeing a new reality where solar is the lowest-cost source of energy, and I don’t see an end in sight in terms of the decline in costs,” said Enviromena’s Khoreibi.

Bloomberg

HEAD OF the Intergovernmental Panel on Climate Change (IPCC) Hoesung Lee has urged attention and focus on the science and not politics in decision-making about climate change.

“One common question (at the Marrakech climate talks held recently in Morocco) was whether political developments in some countries could hinder the global community in providing a science-based response to climate change. My view, the scientists’ view, is that values and political beliefs may vary, but science is the common ground where these conflicting views can find a common understanding,” he said.

Lee was speaking in Jamaica recently where the IPCC the international body that assesses the science related to climate change held its most recent outreach event for the region and which formed a part of Climate Change Awareness Week celebrations on the island.

His comments come even as the world waits to see what the new United States (US) President and climate sceptic, Donald Trump, will do.

The US, up to now, has been one of the more significant contributors to the work of the IPCC, for example, and has done much to bolster global adaptation and mitigation efforts.

 

Urgent Action

According to Lee, the science has so far revealed the need for urgent action on climate change.

“Responding to climate change is not an either/or choice for a country, it’s part of its development strategy. You all know that,” he said, while referencing the IPCC’s Fifth Assessment Report (AR5).

The synthesis report of the AR5 points, among other things, to ongoing and exacerbated warming of the planet due to human actions.

“Emissions of carbon dioxide from fossil fuel combustion and industrial processes contributed about 78 per cent of the total GHG emissions increase from 1970 to 2010, with a similar percentage contribution for the increase during the period 2000 to 2010,” reads a section of the report.

“Globally, economic and population growth continued to be the most important drivers of increases in carbon dioxide emissions from fossil fuel combustion,” it added.

 

Population Growth

“The contribution of population growth between 2000 and 2010 remained roughly identical to the previous three decades while the contribution of economic growth has risen sharply,” the document said further.

In the wake of those findings, the IPCC and its team of scientists from across the globe, is to contribute more to the existing body of knowledge on the subject.

Among other things, they are to prepare a special report on the impacts of warming of 1.5 degrees Celsius and related emissions pathways.

“Earlier this year, we brought experts together to scope out that report, and we signed off the outline the table of contents and structure in October. We are now recruiting authors to write the report, which will be delivered in 2018,” Lee said.

All this, while seeking to make their work more accessible.

“We are looking at how to work with our new authors to encourage them to produce their summaries for policymakers in clear, accessible language for non-specialists, and with academies to help them develop educational materials based on our reports,” Lee said to an audience of not only NGOs and policymakers, but also students.

Gleaner

Energy minister Dr Andrew Wheatley (left) and Petroleum Coprporation of Jamaica general manager Winston Watson.

The Petroleum Corporation of Jamaica (PCJ) will be carrying out major energy efficiency and renewable energy projects at six public hospitals to reduce electricity costs under the United Nations Development Programme’s (UNDP) Deployment of Renewable Energy and Improvement of Energy Efficiency in the Public Sector Project.

The facilities slated to benefit are the National Chest Hospital and the Sir John Golding Rehabilitation Centre in St Andrew; Bellevue Hospital in Kingston; May Pen Hospital in Clarendon; Savanna-La-Mar Hospital in Westmoreland and the Black River Hospital in St Elizabeth.

Among other things, the interventions at these institutions will involve energy audits and the installation of energy-efficient lighting, solar photovoltaic technology and solar water-heating systems, PCJ said in a release yesterday.

SPECIALISED SERVICES

The selected institutions provide specialised services to a large cross section of the population and have high capital and operational expenditure.

Assessments revealed that energy-efficiency interventions at these hospitals can achieve considerable savings which will help to achieve the PCJ’s objective of reducing the public sector’s energy spend. The infusion of renewable energy and energy-efficient technology into the hospitals’ operations is expected to reduce their collective electricity demand by 1,305,000 kWh each year, which at current rates translates to more than J$41 million in savings.

The PCJ’s general manager, Winston Watson, said: “We are pleased to partner with the UNDP on this project, since the objective of incorporating more energy-efficiency solutions into the public sector’s operations aligns perfectly with our mandate to reduce the Government’s energy bills.”

The Deployment of Renewable Energy and Improvement of Energy Efficiency in the Public Sector Project is a US$12-million initiative comprised of three components.

The energy interventions to be undertaken by the PCJ are being carried out under the third component, which focuses on economic and fiscal instruments to facilitate the uptake of renewable energy and energy efficiency in the public sector.

Project execution under this component is projected to cost US$2.01 million, of which PCJ will provide just over US$1,360,000 and US$650,000 will come from the Global Environment Facility Trust Fund.

WORTHWHILE INVESTMENT

“We consider this a worthwhile investment for the Government and people of Jamaica as it will improve conditions in the health sector while reducing electricity costs, which will mean savings for the public sector, and we are therefore looking forward to a successful partnership with the UNDP,” Watson said.

Bruno Pouezat, UN resident coordinator and UNDP resident representative, said: “As we mark the official launch of this landmark project, I recall the words of United Nations Secretary General Ban Ki-moon, who in 2010 called for ‘a global clean energy revolution’. He added that “energy is the golden thread that connects economic growth, increased social equity and an environment that allows the world to thrive. We look forward to working with all of our partners in Jamaica in securing these ideals.”

Minister of Science, Energy and Technology Dr Andrew Wheatley said the public sector accounted for 15.5 per cent of total electricity sales in Jamaica in 2015.

“We are working assiduously to reduce our overall consumption and I am pleased that this project seeks to deploy renewable energy and improve energy efficiency in the public sector, as these interventions will serve to bolster our ongoing efforts to reduce the Government’s energy consumption while driving efficiency,” he added.

The Deployment of Renewable Energy and Improvement of Energy Efficiency in the Public Sector Project was officially launched on November 30, 2016. The PCJ will begin project implementation in early 2017.

Gleaner

Rooftop solar energy is becoming a financially viable way for millions of U.S. consumers to generate their own electricity — and utilities are doing everything to kill the solar boom before it gains too much traction. Utilities in states such as Florida, Wisconsin, and Nevada have tried to undermine rooftop solar at the regulatory level and in ballot measures. As a reaction, voters have fought back and beaten the efforts to squash solar energy.

The impact on residential solar companies Tesla (NASDAQ: TSLA), Vivint Solar(NYSE: VSLR), Sunrun (NASDAQ: RUN), and SunPower (NASDAQ: SPWR) shouldn’t go unnoticed. They’re winning the policy war against utilities, and as they do, it’ll open a larger and larger market across the country.

POLICY WINS ARE GOING TO RENEWABLE ENERGY

The election earlier this month was accompanied by a number of ballot initiatives that will impact solar energy for years to come. And for the most part, solar energy was a huge winner.

Despite utilities’ spending $26 million to pass a referendum that would have undermined solar economics in the state, Florida voters rejected the utility referendum. The state now looks like it’ll have a bright solar future.

In Nevada, less than a year after the public utility commission essentially killed the rooftop solar industry, residents overwhelmingly voted to break up Berkshire Hathaway (NYSE: BRK-B)-owned NV Energy’s long monopoly in the state. Customers have to be given energy choice, meaning more solar in one of the country’s sunniest states.

In the past, Wisconsin has tried to add fees to utility bills that would kill solar energy before it ever got started, but those attempts were rejected by the court.

There’s an important trend here for utilities and solar companies: When solar energy goes on the ballot or to the court, it wins. That should have every utility in the country frightened because that gives millions of customers choice regarding their energy needs.

THE LOOMING THREAT FOR UTILITIES

Policy wins are important because they lay the groundwork for future innovations to take hold in energy. Today, that means rooftop solar on more than 1 million homes in the U.S. — and that number is growing quickly.

The next step will be adding energy storage to homes, something that Tesla is leading on and that Vivint, Sunrun, and SunPower are all adding, as well. As energy storage is added, customers can use more of their own energy, making net metering less important and providing more flexibility for customers.

The holy grail for renewable energy is allowing customers to cut the cord to the utility altogether. We may be a decade from that being a reality, but the more utilities add fixed fees or demand charges, the more quickly the economics of cord-cutting will become compelling. Long-duration energy-storage technologies are already beginning to be deployed, and before long, a couple of Powerwalls and a long-duration energy-storage system may be a viable option for consumers, making utilities irrelevant.

THE SLIPPERY SLOPE IN ENERGY

Utilities are in a tough position, having incentives to apply policies that protect short-term profits but which may undermine long-term competitiveness. It’s clear that when push comes to shove, voters are willing to overturn utility policies, voting for solar energy across the country. That has to be a concern for utilities, and it shows that the future is getting brighter for solar energy companies providing the solutions customers want.

FlipBoard

 

Electric avenues that can transmit the sun’s energy onto power grids may be coming to a city near you.

A subsidiary of Bouygues SA has designed rugged solar panels, capable of withstand the weight of an 18-wheeler truck, that they’re now building into road surfaces. After nearly five years of research and laboratory tests, they’re constructing 100 outdoor test sites and plan to commercialize the technology in early 2018.

Wattway’s solar road in Tourouvre
Wattway’s solar road in Tourouvre

“We wanted to find a second life for a road,” said Philippe Harelle, the chief technology officer at Colas SA’s Wattway unit, owned by the French engineering group Bouygues. “Solar farms use land that could otherwise be for agriculture, while the roads are free.”

As solar costs plummet, panels are being increasingly integrated into everyday materials. Last month Tesla Motors Inc. surprised investors by unveiling roof shingles that double as solar panels. Other companies are integrating photovoltaics into building facades. Wattway joins groups including Sweden’s Scania and Solar Roadways in the U.S. seeking to integrate panels onto pavement.

To resist the weight of traffic, Wattway layers several types of plastics to create a clear and durable casing. The solar panel underneath is an ordinary model, similar to panels on rooftops. The electrical wiring is embedded in the road and the contraption is topped by an anti-slip surface made from crushed glass.

A kilometer-sized testing site began construction last month in the French village of Tourouvre in Normandy. The 2,800 square meters of solar panels are expected to generate 280 kilowatts at peak, with the installation generating enough to power all the public lighting in a town of 5,000 for a year, according to the company.

For now, the cost of the materials makes only demonstration projects sensible. A square meter of the solar road currently costs 2,000 ($2,126) and 2,500 euros. That includes monitoring, data collection and installation costs. Wattway says it can make the price competitive with traditional solar farms by 2020.

screen-shot-2016-11-27-at-21-44-24

 

The electricity generated by this stretch of solar road will feed directly into the grid. Another test site is being used to charge electric vehicles. A third will power a small hydrogen production plant. Wattway has also installed its panels to light electronic billboards and is working on links to street lights.

The next two sites will be in Calgary in Canada and in the U.S. state of Georgia. Wattway also plans to build them in Africa, Japan and throughout the European Union.

“We need to test for all kinds of different traffic and climate conditions,” Harelle said. “I want to find the limits of it. We think that maybe it will not be able to withstand a snow plow.”

The potential fragility joins cost as a potential hurdle.

“We’re seeing solar get integrated in a number of things, from windows in buildings to rooftops of cars, made possible by the falling cost of panels,” Bloomberg New Energy Finance analyst Pietro Radoia said. “On roads, I don’t think that it will really take off unless there’s a shortage of land sometime in the future.”’

Bloomberg