By Matthew Bandyk, Utility Dive
Investment into new natural gas infrastructure like pipelines and power plants is “incompatible” with long-term shareholder value, and thus it is in the best interest of the investor community to push utilities away from natural gas, according to a new report from corporate social responsibility group As You Sow and environmental consulting firm Energy Innovation.
The report points to data from Lazard showing that unsubsidized solar plus battery storage already, in some cases, is cheaper than natural gas. It cites the example of NV Energy [a Berkshire Hathaway Energy company], which in 2019 procured 1,200 MW of solar at $20 per MWh and 580 MW of four-hour battery storage for $13 per MWh. The low end of Lazard’s 2019 estimate for the levelized cost of electricity from a new natural gas-fired combined-cycle plant is $44 per MWh. Read more here.
Our mission is to promote environmental and social corporate responsibility through shareholder advocacy, coalition building, and innovative legal strategies Our vision is a safe, just, and sustainable world in which protecting the environment and human rights is central to corporate decision making. Corporations are responsible for most of the pressing social and environmental problems we face today — we believe corporations must be a willing part of the solutions. We make that happen. As shareholder advocates, we directly engage corporate CEOs, senior management, and institutional investors to change corporations from the inside out. Website: As You Sow
More About Lazard’s Levelized Cost of Energy Analysis
Renewable Energy Prices Hit Record Lows: How Can Utilities Benefit From Unstoppable Solar And Wind?, Forbes article contributed by Silvio Marcacci, Communications Director, Energy Innovation
Additional Related Reading
Utility Investors Risk Billions In Rush To Natural Gas: Is It A Bridge To Climate Breakdown?, Forbes article contributed by Michael O’Boyle, director of electricity policy at Energy Innovation, where he leads its U.S. power sector transformation program.
Energy Innovation is a nonpartisan climate policy think tank delivering high-quality research and original analysis to help policymakers make informed energy policy choices. Energy Innovation accelerates the clean energy transition by supporting the policies and strategies that most effectively reduce greenhouse gas emissions. Website: Energy Innovation
MORE ON CORPORATE SUSTAINABILITY
- What happens to corporate sustainability amid the COVID-19 crisis? Some reflections, by Heather Clancy, Editorial Director, GreenBiz Group. We reached out to dozens of companies, including members of the GreenBiz executive network, to ask them to consider that question. Read on for the responses we received, lightly edited for clarity. We greatly appreciate their transparency.
- GreenBiz Interview by Heather Clancy: PepsiCo CSO: We can’t ‘lose sight’ of the long-term crisis
FREE SCIENCE BASED TARGETS WEBINAR TOMORROW
Demystifying and Achieving Science-based Targets through Sustainable Procurement & Supplier Engagement, April 22 at 12 pm. Presenters: Cynthia Cummis, Director of Private Sector Climate Mitigation, World Resources Institute, and Noora Singh, Director, Global Sustainability, PepsiCo. Register here.
The Science Based Targets Initiative is a collaboration between CDP, the United Nations Global Compact (UNGC), World Resources Institute (WRI), and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments.
NFL SOLAR PROJECTS
POWERHOME installs solar system on Pittsburgh Steelers stadium, Solar Power World
“Heinz Field is the fourth NFL facility to utilize POWERHOME to help meet sustainability goals,” said Jayson Waller, CEO of POWERHOME. “Large commercial sites like this help us educate consumers about the simplicity and benefits of renewable energy. We hope to encourage thousands of Steelers fans to consider solar energy and think more about the environment.”
- Trump Administration Removes Tariff Exemption for Bifacial Solar Panels — Again, Greentech Media
- This Solar Panel Just Set a World Record for Efficiency, Popular Mechanics
Renewable Energy Magazine: What Place for Hydrogen? An interview with Professor Armin Schnettler, Executive Vice President and CEO of the New Energy Business at Siemens Energy, on the impact of hydrogen on the global green energy market.