Article contributed by Richard Perez, Senior Research Associate in Atmospheric Sciences Research Center, University at Albany, State University of New York and Karl R. Rabago, Professor of Law; Executive Director, Pace Energy and Climate Center, Pace University.
Excerpt: Once firmed up through a combination of overprovisioning and storage, variable renewable energy resources become effectively dispatchable – able to provide power when as needed – and functionally equivalent to traditional power plants. In this way, renewables can replace these generators without major grid reengineering.
Our team has modeled a high-solar and overbuilt solution for the not particularly sunny state of Minnesota. The goal was to determine the least costly combination of grid-connected solar, wind and storage necessary to provide round-the-clock, year-round energy services. Read more here.
Recommended Viewing: Richard Perez’s 3-minute YouTube video summarizes his scalable strategy to achieve 100 percent renewables, which he refers to as the “Perfect Forecast.”
ADDITIONAL RECOMMENDED READING
- What’s the value of energy storage? Minnesota aims to find out, Utility Dive
Minnesota lawmakers included multiple energy storage provisions in the Omnibus Jobs and Energy Bill when they approved it May 24, including requiring utilities to consider batteries as a resource in their long-term planning efforts. The bill also directs the Minnesota Department of Commerce to conduct an energy storage cost-benefit analysis, in order to determine the value of adding the resource to the electric grid.
- How Gov. Polis plans to get Colorado using 100% renewable energy by 2040, The Denver Channel
- A Facebook First: Tech Giant Invests Directly in a Renewable Project, Greentech Media
Analysts say social media company’s tax-equity investment in a 379-megawatt solar project in Texas could be a sign of deals to come in the corporate renewables market. Facebook announced Thursday it has finalized an agreement to provide tax-equity financing for a 379-megawatt solar project developed by Longroad Energy Partners in West Texas. It’s the first time the social media company, which last year committed to reaching 100 percent renewables by 2020, has directly invested in a wind or solar project. Shell Energy North America, another corporation that’s shown increasing interest in renewables, signed a 12-year power purchase agreement for the project’s power. Both Facebook and Shell will use the renewable energy credits from the project, though Facebook told Greentech Media it would receive the majority of those credits.
- Facebook drives two big solar projects in Texas and Utah, PV Magazine
Construction is starting on a 300 MWac solar project in Texas, as a power contract is signed for a 122 MWac solar project in Utah. The social media giant is involved in both, and both use First Solar PV modules.
- With new transmission urgently needed, FERC Chair hints at a new Order 1000 proceeding, Utility Dive. Electricity consumers pay billions due to congestion and outages, according to the U.S. Energy Department. System operators report that new wires significantly reduce those costs. But transmission and distribution developers are at such odds with one another over who should do the upgrades and how they should be selected that the Federal Energy Regulatory Commission (FERC) may step in.
NEW IRENA REPORT
Renewable energy costs hit new lows, now cheapest new power option for most of the world, Electrek
The findings come from the International Renewable Energy Agency (IRENA) in its new report, Renewable Power Generation Costs in 2018.