Are T-RECs The Key To Real 100% New Energy?
Corporate Renewable Energy 2.0: Moving Past ‘Dinosaur Power’ to 100×100 Renewables
Taylor Sloane, December 4, 2018 (Energy Manager Today)
“…Some forward-leaning companies have already reached [net 100% renewables] and their achievements should be celebrated…[T]he next frontier is ensuring that renewable energy is actually powering corporate facilities when they have load – 100% renewable energy 100% of the time…One hundred percent renewable energy on a net basis means that in a year, the amount of renewable energy sourced by a company is equal to the amount of electricity that the company consumed…[But as] renewable energy penetration increases, the value of additional renewable energy on the grid decreases due to falling capacity value…Adding additional solar energy to a grid that is already curtailing solar generation [during midday when the belly of the “Duck Curve” is fat with solar output] will not achieve the additionality that corporate renewable energy procurements seek, as that new solar is not offsetting the energy generated by fossil fuel generation…
…Procuring only renewable energy on a net basis is not a scalable solution to create a sustainable renewable energy market where everyone can achieve 100% renewable energy…[T]he stretch goal is achieving 100% renewable energy 100% of the time, or 100×100. This could be accomplished using Time-matched Renewable Energy Credits, or T-RECs. Reaching 100×100 will certainly be a difficult task, but reaching 100% renewable energy on a net basis also seemed daunting 10 years ago…Based on the economics of energy storage and renewables, our modelling shows that 80-90% time-matched renewable energy consumption is realistic today for a facility with a 24/7 flat load using a combination of wind, solar and storage…Corporate leaders have already changed how electricity is procured. Continued innovation in corporate sourcing of renewable energy has the potential to drive further electricity decarbonization…” click here for more