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New Electricity Market Analysis Platform for Renewable Energy Developed By Rocky Mountain Institute

New Electricity Market Analysis Platform for Renewable Energy Developed By Rocky Mountain Institute
June 21
17:07 2017

The Rocky Mountain Institute (RMI) and its Business Renewables Center (BRC) have created and recently launched a new software tool, the BRC Market Analysis Platform

Designed to assist buyers and developers of renewable energy projects with the identification of the locations that are more likely to be economically attractive across deregulated electricity markets in the United States, the platform is constructed by utilizing publicly-available data from market operators, a levelized cost of energy calculation, and a proprietary algorithm to model hypothetical project revenue. BRC’s Market Analysis Platform generates an estimated “value” calculation for approximately 4,300 nodes, or grid connection points, which include all seven U.S. independent system operators (ISOs) reaching 39 states.

Hervé Touati, managing director at Rocky Mountain Institute, elaborates:

“Big business is proving its commitment to climate action and renewable energy on the world stage right now. In 65 percent of the U.S., it’s possible to source wind and solar directly but, much like real estate, these renewable energy deals hinge on location, location, location. At the Business Renewables Center, we are working to educate business leaders with insights on economic value that help buyers and developers build better projects in ideal locations.”

As the tool is accessible to the 200+ members of the BRC, it will help build a more comprehensive picture for buyers and developers of wholesale electricity market economics based on real price histories for individual grid connection locations.

Stephen Abbott, Manager at Rocky Mountain Institute and project manager of the market analysis platform, further explains:

“Twenty years ago, many companies saw potential value in creating online business platforms but lacked the necessary skills and knowledge to do so. In similar fashion today, companies are starting to recognize the value of a flexible, low-carbon energy strategy, but many have little experience with energy markets. Though our software platform, BRC is working to streamline corporate procurement by bringing a new level of transparency to the industry.”

To date, 66 percent of Fortune 100 and nearly 50 percent of Fortune 500 companies have public sustainability commitments and 96 major companies have committed to 100 percent renewable energy per RE100. The BRC is working to catalyze corporate procurement of 60 GW of renewables by 2030.

Image from Pixabay

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