James (Jim) Murphy

📈 Corporate PPA activity in the ERCOT market has reached 1.8 GW, YTD 2024. Data from the Enerdatics Energy Transition PPA database indicates that ERCOT has seen ~1.8 GW in corporate power purchase agreements (PPAs) since the start of 2024, constituting over 60% of the U.S. total. 💡 Tech giant Microsoft leads the way, having secured ~800 MW across three deals. Meanwhile, new entrants such as UnitedHealth Group, Sonoco, and AdventHealth are also stepping up their sustainability efforts. 🏆 Key Suppliers Making Waves: > Regional Leaders: Primergy, Leeward Renewable, Scout Clean Energy > International Players: Orsted, ENGIE 🤝 Positive PPA negotiations in ERCOT are driven by the market's lower land and interconnection costs, which help mitigate higher interest rates and supply chain issues. 🌟 Top Deals to Note: > Microsoft and Primergy Solar: 408 MW from Ash Creek solar project > Hyundai and Matrix Renewables: 147 MW (Hyundai’s first U.S. PPA) > RTX and ENGIE: ~38 MW from Priddy wind project #CorporatePPA #ERCOT #RenewableEnergy #Sustainability #Microsoft #Hyundai #RTX #ENGIE #Orsted #Primergy #LeewardRenewable #ScoutCleanEnergy #UnitedHealthGroup #Sonoco #AdventHealth

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Hey good news, this week, the Federal Energy Regulatory Commission (FERC) voted to modernize long-distance high-powered transmission policies, aligning with the Biden Administration's decarbonization goals and fortifying the grid against extreme weather impacts. The transmission system must modernize and expand to meet 21st-century demands. With the growth of AI, data centers, and EVs powered by green energy, the U.S. must double regional transmission capacity. Key changes include: Increased Renewable Energy: Expect more renewable energy and less coal-fired power, though litigation is anticipated. Enhanced Grid Stability: Regional authorities can now improve grid stability, making the network more renewables-friendly. Improved Transmission Coordination: Transmission owners will plan every five years for future needs, thinking 20 years ahead. Notably, 260,000 MW of power generation is waiting to connect to the U.S. grid, with 95% from solar, wind, and battery storage. This ruling facilitates power movement from rural to urban areas, benefiting renewable energy. FERC’s new policies also revise backstop authority, allowing federal intervention when states fail to push through vital projects. This ensures no state can veto projects crucial for national interest. The changes aim to cut CO2 levels by 40% by 2030 and achieve carbon neutrality by 2050. Falling prices for wind and solar, coupled with increased clean energy capacity, signal a bright future for renewable energy and grid resilience. Rudy Garza of CPS Energy noted, "This transition is going to happen whether you like it or not." #Renewableenergy https://lnkd.in/gK4nJQB3

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I wonder how the valuation and modeling service providers factor in these latest market conditions in their models. Thoughts?

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Merchant vs hedge in battery storage... That's what I'll be discussing at the Solarmedia Battery Asset Management Summit November 12 in San Diego I'll be on a panel with my friend Joe Crespo, Sandeep Arora of REV Renewables, Erdal Kara, PhD of Vistra Corp., Li Xu of LXI Capital and Sebastian Blake of Octopus Energy talking about risks and rewards, and sharing my Plus Power perspective #energystorage #batterystorage #batteries https://lnkd.in/eQDiv_Ax

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Important comments from Larry Gasteiger on FERC's upcoming planning rule highlighting the importance of addressing a key barrier to regional transmission development - Order 1000 solicitations. Effective regional planning requires open collaboration between RTOs, transmission owners, and regional stakeholders. The Order 1000 solicitation process inhibits collaboration, delays needed projects, and ultimately deprives customers of crucial transmission benefits. A balanced FERC rule needs to address this hurdle to drive the open and collaborative long-term regional transmission planning we need.

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Navigating the choice between the ITC and PTC requires careful consideration of project economics, investor preferences, and regulatory frameworks. By aligning incentives with broader climate objectives and mitigating economic distortions, we can unlock the full potential of renewable energy and pave the way for a sustainable energy future. #ITC #PTC #RenewableEnergy

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Grid Status is a great website for tracking US electricity markets. https://lnkd.in/dD4uSswg Yesterday at sunset prices reached near peak scarcity prices in ERCOT in the real time market (over $4000/MWh). Grid status summary page for ERCOT lets you see why https://lnkd.in/eZ4PSWSm (admittedly this is on the ERCOT website too but it is only easy to get to today's info on the ERCOT website - at least for me - and a lot less easy to get to yesterday or any day earlier than that there (e.g. today's data readily accessible here https://lnkd.in/gmk74yvz)). Grid status will remark on notable stuff on their linkedin page - here is their post about yesterday's ERCOT prices https://lnkd.in/eR8GFS6E The pic below is from their website summarizing April 16th with those notable realtime evening prices.

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The Federal Energy Regulatory Commission (FERC) passes new rules to require grid operators to conduct long-term planning on transmission requirements, taking into account reliability and changing resource mix. Sluggish grid investment is both a major bottleneck to adding new renewables to the electricity mix as well as a source of risk to reliability. https://lnkd.in/g4QmgcUn

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Sometimes #energytransition progress is talked about with so little fanfare you can almost miss it...unless you read things like the recently published SPP 2023 State of the Market Report. Congratulations to Southwest Power Pool for continuing to reliably manage an increasingly intermittent generation mix, including the continued expansion of #demandresponse resources. "For the second straight year, wind generation produced the highest percentage of total generation, at 37 percent in 2023." "Of the 1,806 MW net increase in nameplate generation capacity from 2022, 1,693 MW were from wind resources, 431 MW were from dispatchable demand response, and 239 were from solar resources." https://lnkd.in/ghVSqNxF #DR #DERs #VPPs

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PJM & MISO face a growing interconnection backlog, with over 25 GW of solar and 9 GW of wind projects waiting for approvals Key actions being taken: -- PJM: Adopting a 'first-ready, first-served' approach to prioritize viable projects. -- MISO: Implementing a cluster study method to accelerate the process. -- Combined ~$14 billion investments are set to integrate roughly 10 GW of new capacity. ⚡ Meanwhile, ERCOT's 'Connect and Manage' approach simplifies grid integration, significantly reducing backlog clearance times. #RenewableEnergy #PJM #MISO #ERCOT #SolarPower #WindEnergy #GridConnection #EnergyReforms

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North America electric grid interconnections, showing the main interconnections: Western Interconnection, Eastern Interconnection, Texas Interconnection (ERCOT), and the Quebec Interconnection. Each interconnection is color-coded, and key cities, states/provinces, major power lines, and renewable energy sources are labeled.

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For anyone who will be at IEEE Power & Energy Society T&D Conference feel free to stop by our panel session on #EVs and #gridreliability. Will be an interesting cross-sector discussion including technology provider, independent system operator, and utility perspectives among others. E-mobility is driving the blending of Transmission and Distribution system planning, design, and operations. Particularly with the growing prevalence of distributed energy resources, IoT and grid-edge technologies, and virtual power plants (#VPPs).

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ICYMI, last week, PJM Interconnection, the electric grid operator, released its latest paper in its series on the energy transition. The paper does a terrific job of describing three scenarios and shows how state policy and corporate  decarbonization are absolutely achievable, albeit with big warning signs that could come along the way if new generation and transmission infrastructure don’t materialize. Highlights- 1️⃣ Dispatchable generation is needed less often, but is still critical to balancing the grid. The ramp is real. One scenario indicates 105 GW of ramp in 3 hours. How PJM will compensate and attract resources capable of that ramp on a reliable, day-to-day basis is key. 2️⃣ Longer duration storage solutions may be needed beyond the standard 4 hours today. Loss of load risk is concentrated across ~5 hours in the study, but 10 hour+ storage may be needed. This study was completed with old assumptions that have since shown risk is further extended in winter. 3️⃣ Neighboring regions will increasingly depend on each other. One scenario expects 35% more interchange of electrons between PJM and MISO. Look to Order 1920 implementation for building sufficient transmission to do that. Looking ahead, I’d like to see PJM release a report like this that leverages its latest resource adequacy reforms. My gut is the shift to marginal ELCC, inclusion of a longer weather history and other changes will give a more accurate picture of the likely future where 4-hour storage is useful, but not sufficient. Mainspring Energy’s dispatchable linear generator is capable of running on natural gas today and is also 100% hydrogen-ready. Our tech keeps the lights on and fits into the decarbonization pathways that many states in the region require. PJM Interconnection Mainspring Energy #reliability #FERC #decarbonization #LDES https://lnkd.in/eFSN_z8C

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FERC Issues Two Historic Rulemakings to Revise Transmission Planning, Cost Allocation, and Siting Policies During a Special Open Meeting on May 13, 2024, the Federal Energy Regulatory Commission (FERC) issued two significant rulemakings that promulgate reforms to support the expansion of transmission infrastructure needed to meet the country’s changing resource mix and growing energy demands while ensuring a reliable grid.    First, FERC’s new transmission and cost allocation rule, Order No. 1920, requires public utility transmission providers to conduct long-term transmission planning for regional transmission facilities and to determine how to pay for them.    Second, FERC’s new transmission siting rule, Order No. 1977, revises the Commission’s regulations governing applications for permits to site transmission facilities to conform to the rules set by the Infrastructure Investment and Jobs Act (IIJA) amendments to section 216 of the Federal Power Act (FPA) and to clarify and modernize certain regulatory requirements relating to FERC’s exercise of its backstop transmission siting authority under the Energy Policy Act of 2005.    The Order No. 1920 reforms can be broken down into three categories: (1) Long-Term Regional Transmission Planning over a 20-year planning horizon; (2) cost allocation in accordance with beneficiary pays principles; and (3) additional reforms aimed at enhanced transparency in local transmission planning, “right-sizing” of transmission projects, and interregional transmission coordination to support the development of cost-effective projects.    While Order No. 1920 adopts the majority of the proposals set forth in the underlying April 21, 2022 Notice of Proposed Rulemaking (NOPR), there are several key differences between the NOPR and the final rule. First, Order No. 1920 does not require transmission providers to seek the agreement of states regarding the cost allocation method to be applied to Long-Term Regional Transmission Facilities, although the new rule does provide for a six-month engagement period with states. Second, Order No. 1920 declines to limit eligibility for Construction Work in Progress rate recovery for transmission facilities selected during the Long-Term Regional Transmission Planning, as was proposed in the NOPR. Third, Order No. 1920 declines to adopt the NOPR proposal to permit the limited reinstatement of the federal right of first refusal (ROFR) for incumbent transmission providers who establish joint ownership of transmission facilities. Read more here: https://lnkd.in/eKaqP_dk For more information, please contact: Wendy Reed, Wendy Warren, Matthew Binette, Elizabeth Trinkle, Vivian Chum or Abe Johns.

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We have filed a draft of the Integrated Grid Planning Request for Proposals (“IGP RFP”), the latest phase of clean energy procurements aimed at stabilizing rates and advancing energy equity, growing the marketplace for large-scale renewables, creating a modern and resilient grid, and securing reliability as existing fossil fuel generators reach the end of their useful lives. For the first round of this IGP RFP for Oahu, we are seeking at least 589 gigawatt hours annually of renewable dispatchable energy to be in service by 2029 and 50 megawatts of renewable firm capacity to be in service by 2032. For Hawaii Island, we are seeking at least 134 gigawatt hours annually of renewable dispatchable energy to be in service by 2029 and at least 60 megawatts of renewable firm capacity in service by 2031. We will host a virtual technical conference for prospective Proposers, tentatively scheduled for July 2024. When available, it will be posted here: https://lnkd.in/g_p48y-Y. Upon approval from the PUC, this IGP RFP will be open to bids from energy developers locally and globally. The proposed timeline for proposals, subject to regulatory approval, will be available at https://lnkd.in/gMf7WHrn. #integratedgridplanning #requestforproposals #gridupgrade #renewables #renewableenergy #hawaii

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The North American Energy Markets Association is posting this RFP on behalf of our member MPUA. Introduction The Missouri Joint Municipal Electric Utility Commission dba as Missouri Electric Commission (“MEC”) is issuing a Request for Proposals (“RFP”) associated with meeting forward capacity, energy, and planning reserve margin requirements of the MEC full requirements cities. MEC full requirement pools (MoPEP, MMMPEP, and SWMPEP) are comprised by over 50 Missouri municipal utility cities in the aggregate. MEC is a joint action agency with 70 municipal electric utility members in the state of Missouri, and has the authority to enter into contracts for power supply, transmission service, and other services necessary for the operation of an electric utility in order to obtain a diversified portfolio of cost-based, reliable resources on a long-term basis to meet its member’s total requirements. MEC members have various power supply contracts through MEC or directly with wholesale electric suppliers in the region. RFP Schedule Qualified power suppliers may submit proposals in accordance with the procedures and criteria below for up to 150 MW with certain limitations as described. The deadline for receipt of proposals is Monday, June 24th at 5 PM Central time. MEC will develop a short list based on an initial screening of responses received from this solicitation. It is expected by the end of July, MEC will initiate a second contact with selected respondents to request more detailed information that will assist in final evaluations from which contract negotiations will begin. Visit here for more information: https://lnkd.in/evFYGEHF Missouri Public Utility Alliance North American Energy Markets Association

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Solar Alliance revenue increases 55% in 2023 to $7.5 million Company continues to execute on its strategy in the high-growth U.S. solar Industry   Toronto, Canada and Knoxville, Tennessee, April 30, 2024 – Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR, OTC: SAENF), a leading solar energy solutions provider focused on the commercial and utility solar sectors, announces it has filed its audited financial results for the quarter and year ended December 31, 2023. The Company’s Financial Statements and related Management’s Discussion and Analysis are available under the Company’s profile at www.sedarplus.ca.   “Solar Alliance continued to successfully execute on our strategy as our team delivered a 55% increase in revenue year-over-year,” said CEO Myke Clark. “Solar Alliance continues to see strong demand for commercial solar projects, and we remain focused on larger, higher margin commercial solar projects to support our growth. In addition to executing on larger projects, we are now experiencing strong demand for solar projects for small and medium-sized businesses in rural communities. We reduced expenses and overhead during 2023 and we believe we will experience ongoing bottom-line improvements as those cost reductions have an impact on the full year for 2024. We continue to build a stable, growing company that is well positioned to take advantage of the current global shift to renewable energy,” concluded Clark.   For a Full Profile View & Press Release of Solar Alliance Energy Visit: https://lnkd.in/exTSu5a    #stockstowatch #stocks #smallcap #greenenergy #smallcaps #Investment #investing #stockstobuy #investors #renewables #renewableenergy #cleanenergy #solar #greenenergy #solarenergy #energy #solarpower #gosolar #solarpanels #sustainability #climatechange #environment #sustainableenergy #solarinstallation #sunpower @solaralliance $SOLR

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