BRC Newsletter Sept 2015
Welcome to the first Business Renewables Center (BRC) newsletter!
As we approach the midway point between our May conference and our upcoming gathering in New York on November 17, we wanted to share some news with you.
New, Tiered BRC Membership Structure
The main innovation is that new corporate buyers now have the option to choose between a silver or a gold membership. The entry-level silver membership is free of charge. The gold-level membership costs $10,000 and offers more services—in particular, access to a limited number of consulting hours and access to our upcoming Web platform listing wind and solar projects ready for PPA transactions.
Welcoming New BRC Members
We are continuing our recruitment effort. We look forward to putting together an announcement of all new members from May to November at our November 17 event.
SAVE THE DATE: Members, please book the full day of November 17 in your calendars for the next BRC workshop, to be hosted at Bloomberg Headquarters. This is an invitation-only event. We will send invitations in the coming week. If you have not received one and would like to attend, contact Jill Harley at firstname.lastname@example.org.
Sponsorship Opportunity: We are planning to organize a dinner on Monday, November 16 and a cocktail reception and dinner on Tuesday, November 17. If you are interested in sponsoring such an event, please contact Jill Harley at email@example.com.
HP & SunEdison’s 112 MW wind PPA in Texas
Other Recent Announcements
2015 is already a record-breaking year. Year to date, 1,370 MW of corporate PPAs have already been signed, meaning that 2015 has already surpassed 2014, which was itself a record-breaking year.
Other market news:
On the policy front:
Market Outlook – Beyond Community Solar
Yet while community solar is indeed enjoying an exciting upward rate of growth across the US, the market size is expected to remain relatively small in the near future, reaching 200–300 MW of new installs per year in 2016–2018, according to Greentech Media. This would be equivalent to a small number of utility-scale off-site corporate deals. Moreover, most of the community solar market, as currently designed, will be subscribed by residential customers.
To broaden corporate power offtake opportunities from distributed assets, the new aggregated-distributed-energy market models under development in California (DERPs), New York (DSP aggregations), and Texas (DREAM) hold promise. These deregulated-market advancements would require major involvement by independent system operators: CAISO, NYISO, and ERCOT, respectively. The new rules would not only allow developers to aggregate many residential and commercial power systems—such as rooftop solar PV installations—into a single virtual power plant, but would also allow them to sell into a transparent, transactable market. Unlike community solar, there would be no utility- or PUC-determined caps in these markets.
California is leading the pack. CAISO’s Board has approved new, high-level rules but the details need to be sorted out over the coming months. There is a good chance that all three of these states will open up new off-site, distributed power-purchase opportunities for corporations in the next 12–24 months.
Did you know?
Next issue: Your feedback on this newsletter is most welcome. Let Jill Harley (firstname.lastname@example.org) know if you would like to contribute to our “Market Outlook” in the next newsletter.
This BRC newsletter is intended to provide factual information and is based on publicly available information, but no representation is made with respect to its accuracy or completeness. None of the information can be construed as investment or accounting advice. RMI reserves the right to include, change, or edit any content.