Groundbreaking from Google and NV Energy! “Typically companies procure clean energy, primarily #wind and #solar power, through power purchase agreements (PPAs) with project developers — a model that Google pioneered. This approach has been incredibly successful: since 2008, corporate clean energy buyers have unlocked nearly 200 GW of new solar and wind capacity around the world. But this approach has limitations. PPAs are often isolated from broader grid planning and utility investment processes, and the variability of the weather can mean inconsistent solar and wind availability. Therefore, fully decarbonizing electricity systems will require other technologies that can deliver clean power whenever it is needed (also known as “#cleanfirm capacity”). These technologies, like enhanced #geothermal, #longdurationenergystorage and advanced #nuclear power, are early-stage, relatively costly and poorly incentivized by current regulatory structures. As a result, customers often still rely on fossil fuels for reliable power when solar and wind aren’t available. To access the benefits of 24/7 carbon free energy technologies and meet the growing needs of local grids, we need a new approach that makes it easier to invest in clean energy projects that provide firm capacity to the grid.”
Olli Soppela
8mo
Nuclear energy plants may trip off from the grid for many reasons and the plant owner needs to carry the costs of preparing for this type of event. These are not uncommon and can happen even couple of times per year for a reactor. Since nuclear energy plants need to carry the costs of keeping the system stable in all operation conditions, it makes the plant and related system design and construction expensive. Wind and solar generation units cause this type of volatility orders of magnitude more but do not have to worry about it. This naturally causes VRES generation to be much more financially attractive, especially with PPAs. The unfortunate fact is that the overall system costs increase and the grid cannot function without significant use of combustion fuels (unless the grid has massive amounts of hydropower capacity). This dynamic makes scaling up clean power system challenging. South Australia and Germany grids are good examples of this. VRES is fast and cheap way to reduce carbon emissions from an emission intensive grid, but with current energy storage technologies even rapid and massive VRES deployment is not enough to remove carbon emissions even from the power grid - not to even mention the other ~80% of energy use.
Dave Smith
8mo
Nuclear power does NOT firm renewables. By definition, 'firming' means running when renewables are unavailable, but getting out of the way by shutting down when they are available. Nuclear needs to run 24/7. It cannot be used for firming.
Taco de Vries
8mo
this is the future
Todd Weinstein
8mo
Bringing new ways to drive 24/7 clean electricity is critical to achieving our climate goals! Great to see Google leading the way to help utilities develop scalable rate structures to incentivize investments in clean firm power. Another model is leveraging marketplaces like WattCarbon who enable customers to match 24/7 hourly loads via Energy Attribute Certificates (EACs) with clean energy sources.
LaSheita S.
8mo
Jigar Shah Does the DOE support the development of these partnerships with funding? The Clean Tech Tariff rates are an interesting approach to modernize the sleeved PPAs. Thanks for sharing.
Austin Ball
8mo
Does Berkshire Hathaway have a bond purchase of Israel coming up that could be doubled for the sake of those inside the state?
Rabah Rennane
8mo
Totally agree, maintenance is often viewed a nice thing to have but not - necessarily - an essential activity,... Luckily that thinking changes when the machine goes down, production is lost and repair cost rises. “Maintenance is the key to longevity, whether it’s for machines or relationships.” – Unknown1. “Maintenance is the art of preserving excellence.” – Unknown.
Daveed Sidhu
8mo
This is a pivotal step forward by Google and NV Energy in addressing the limitations of traditional PPAs. By integrating technologies like enhanced geothermal, long-duration energy storage, and advanced nuclear power, we're moving closer to a fully decarbonized electricity system. These innovations are crucial for ensuring reliable, clean power availability around the clock. It's exciting to see the push towards regulatory reforms and investment strategies that support these early-stage technologies. Kudos to all involved in driving this transformative shift in energy procurement and grid planning! #EnergyInnovation #24x7CleanEnergy #SustainableFuture
Global Head of Energy Market Development and Innovation
8moThank you! We hope to scale it with others across the country. Briana Kobor