Short, but very insightful. Here are my key take aways:
- Fast forward to 2018, and almost 65% of renewable capacity was driven by large scale corporate procurement—it’s remarkable, actually.
- REBA’s goals are to catalyze 60 GW of new, buyer-backed renewables by 2025, and increase the number of organizations transacting from about 5,000 today to 50,000 in the future.
- large energy buyers still face persistent and intractable barriers that we are working to address, including the lack of flexibility in regulatory environments and market structures, as well as internal business challenges. In short: policy, technology, and business barriers continue.
- In some markets, energy buyers can’t pick their energy provider or what kind of fuel their energy comes from.
- A change in energy buyer priority from “100% Renewable Energy” to “24/7 Zero Carbon Energy.” Energy buyers now see renewable energy as a means to an end, but not the end in and of itself.
- Buyers of clean energy now recognize that their buying power not only can drive new renewable energy development but can also play an important role in ensuring existing zero carbon energy systems are not retired too early. They’re looking at existing hydro, re-powered wind and solar projects, and even nuclear plants as areas to leverage their buying power.
- Consideration of resilience and energy-continuity as a key feature in clean energy projects.
- Yes, command-and-control style regulations are one path to decarbonizing our economy. And, bottom-up, strong market forces are another powerful way to accelerate the zero-carbon future we all want.
The folks at REBA never cease to amaze me with their foresight. I genuinely hope that REBA will participate in the new NAESB initiative to develop a PPA standard contract definition that's intended to make it easier for qualified reporting entities to attest to green MWh for REC creation and issuance.