Understanding the impact of the Inflation Reduction Act on NYISO prices

The IRA is expected to spur development of clean energy technologies across the country by providing lucrative tax credits and helping developers lower their levelized cost of electricity (LCOE). However, in New York, lower LCOE will be accompanied by falling Index REC payments from the state. Consequently, while some projects will see appreciable gains in net profitability, a majority will see only marginal impacts. We find that developers of onshore wind upstate, and well-sited solar downstate and Long Island, stand to benefit the most from the IRA. After ITC and PTC, some projects—under certain scenarios—may find merchant revenues more than …

Two Paths to US Competitiveness in Clean Technologies

The transition to a clean energy economy is not just critical for addressing climate change, but it is also an opportunity to spur American economic growth, create millions of jobs, and cement America’s position as a global leader in the clean energy marketplace.

In the second installment of a report commissioned by Third Way and Breakthrough Energy, Boston Consulting Group (BCG) examines four additional emerging clean technologies, for a total of ten, that are set to play a major role in the energy transition: geothermal, carbon capture utilization and storage (CCUS), offshore wind, and solar. Analysts studied the value chain …

Pathways Toward a Robust Future Energy System

The purpose of Energinet’s system perspective analyses is to analyse possible long-term development processes for the energy system as a unified system, and to provide input based on this to the long-term planning of electricity and gas infrastructure and the broad system development necessary to handle the significant transformation that the energy system is facing.

The base case assumptions of this analysis is the expectation of how the Danish energy system will look in 2030, following implementation of the initiatives from the Danish Climate Agreement on green power and heating 2022 (June 2022), and Analysis assumptions 2022. The analysis is …

Our Clean Energy Vision: A Fossil-Free Future for Cleanly Heating Homes and Businesses

National Grid is announcing our vision to fully eliminate fossil fuels from both our gas and electric systems by 2050 – sooner if possible – setting clear and measurable milestones along the way.

We are making this fossil-free announcement because we share our communities’ concerns about climate change. National Grid is proud of our role in helping Massachusetts and New York consistently rank at or near the top nationally in energy efficiency programs, electric vehicles on roads, solar installations, planned offshore wind, and environmental stewardship. In addition to this track record of success, the states in which we operate have …

U.S. 2022 Power Sector Outlook

Surging global energy prices have been a central theme over the past year, as rebounding economic activity vied with new waves of COVID infections, and the shock of Russia’s invasion of Ukraine has roiled oil and gas markets in particular. But the soaring cost of fossil fuels and unexpected disruptions in energy security are now supercharging what was already a torrid pace of growth in solar, wind and battery storage projects.

IEEFA predicted last year that wind, solar and hydro’s share of the U.S. electric power market would approach 30 percent by the end of …

New Jersey’s Pathway to a 100% Carbon-Free Electricity Supply: Policy and Technology Choices Through 2050

The goal of this study is to provide a detailed assessment of key policy and technology options and choices and their implications for New Jersey’s pathway to 100% carbon-free electricity. In particular, this study examines least-cost pathways to reach New Jersey’s current laws and stated policy goals under a range of possible future conditions and explores the role of in-state solar PV, offshore wind, nuclear power, and imported electricity in the state’s electricity future. Our goal is to provide an independent assessment of costs and trade-offs associated with different choices facing New Jersey stakeholders provide actionable insights for decision-makers.

For …

VCEA Costs & Savings to the Virginia Ratepayer: An Updated Analysis

Nearly a year and half after the passage of the landmark 2020 Virginia Clean Economy Act (VCEA), Virginia communities and other stakeholders are interesting in better understanding the anticipated economic impacts the law will have on the Commonwealth. This new analysis, conducted by 5 Lakes Consulting and commissioned by Virginia Advanced Energy Economy (Virginia AEE), quantifies the overall costs and benefits of the VCEA.

The report found that the law will cut electric bills by $33.76 annually by 2030 for the average Virginia household and breaks down the cost savings from the implementation via a variety of advanced energy technologies, …

Ocean Infrastructure Priorities

The ocean offers important solutions to mitigate the climate crisis, provide good-paying jobs, and protect coastal communities — including those that have been historically disadvantaged — from rising seas and decades of carbon emissions pollution. Offshore renewable energy development, protecting and restoring blue carbon ecosystems, and decarbonizing shipping and ports can all contribute to the U.S. goals for emissions reductions while providing other important benefits. Support for these programs should be part of any infrastructure package.…

Queued Up: Characteristics of Power Plants Seeking Transmission Interconnection As of the End of 2020

Proposed large-scale electric generation and storage projects must apply for interconnection to the bulk power system via interconnection queues. While many projects that apply for interconnection are not subsequently built, data from these queues nonetheless provide a general indicator for mid-term trends in developer interest. Berkeley Lab compiled and analyzed data from all seven ISOs/RTOs in concert with 35 non-ISO utilities, representing an estimated 85% of all U.S. electricity load. We include all “active” projects in these generation interconnection queues through the end of 2020, as well as data on “completed” and “withdrawn” projects for five of the ISOs (CAISO, …

US Green Economy Report Series: New Jersey

New Jersey has devoted significant attention to renewable energy and adaptation in recent years as a result of Democratic Governor Phil Murphy’s leadership and the state’s vulnerability to climate threats, particularly flooding and coastal erosion. The state has established an emissions target of 80 percent below 2006 levels by 2050 and a 50 percent renewable target by 2030. Governor Murphy also signed an executive order that mandates the state reach 100 percent clean energy by 2050. New Jersey’s solar industry has grown rapidly, and it now ranks seventh in the country in installed solar photovoltaic capacity. The state has large …