Success in the renewable energy sector is largely determined by having a large balance sheet and a small cost of capital. Small developers can do all the little things right and eventually build a large portfolio of operating projects and an attractive pipeline, but at the end of the day the big utilities will have their way. But does it have to be like this? Economics teaches us that young, fragmented industries eventually experience consolidation, but is it possible that one or more of Canada's renewable energy minnows could become a shark?