Tag: REsurety

Solar + Wind Finance & Investment Summit 2023

REsurety is a proud Platinum sponsor of the Solar + Wind Finance & Investment Summit. Book a meeting with us

REsurety will be at the event at display table # 68 and we will host a private meeting room, Prescott, for demonstrations of our market analysis and portfolio management solutions. Book a meeting with us.

If you haven’t registered yet, register to attend the summit here – use code 2304190 to save 15%.

Additionally, REsurety’s co-founder & CEO Lee Taylor will be on the panel: Power Markets Outlook: Valuation & Price Curves on March 13, 2023 at 1:30 pm at the event.

Session description: 

The past year has seen major disruptions in many power markets: extreme weather, the War in Ukraine/gas pricing, interconnection queue pauses, and other capacity market issues have affect forward price curves, risk assessment, and long-term project valuations. This session will discuss the state of US power markets, providing perspectives on pricing curves, project valuations, and the economic useful life of projects.

• Are capacity markets functioning properly or are they becoming a hindrance to renewable deployment?
• Will interconnection queue reforms, like the 2-year reviews pause in PJM and ‘first-ready, first-served’ enable more efficiency and lessen wait times?
• How are changes to forward pricing and energy futures affecting the bankability of projects, and what does the uncertainty created by the Ukraine War mean for projections and assumptions?
• Are the mid-term elections affecting assumptions in the power markets?

Kenneth Irvin, Partner, Sidley Austin LLP
Ken Fleming, Managing Director, Power Origination for the Americas, BP
Yoann Hispa, CEO and Co-Founder, Landgate
John Larkey, Vice President, Power Marketing, National Grid Renewables
Jim Nutter, ASA, Managing Director, Marshall & Stevens, Inc.
Lee Taylor, Chief Executive Officer, REsurety

Access the agenda for the entire event here.

Book A Meeting With Us

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CERAWeek 2023

Lee Taylor

Maximizing & Measuring Carbon Impact: How to Operationalize “Emissions First” Principles

REsurety’s Co-Founder and CEO, Lee Taylor, will be at the 2023 CERAWeek conference in Houston, TX to lead the session Maximizing & Measuring Carbon Impact: How to Operationalize “Emissions First” Principles, on March 7th at 2:30 pm.

About the session

Leading clean energy buyers and investors have called for an evolution of carbon accounting standards – moving away from megawatt-hour matching and toward an emissions impact-centric system. That evolution requires more granular, accurate data, and the tools to make it actionable. In this session you will learn how marginal emissions data, which measures the carbon impact of consuming or generating energy at a given time and place, can be used to maximize the impact of clean energy investments, and to accurately measure that impact.

Learn more here, or register to attend the session here.

Webinar: GHG Protocol Corporate Standards and Guidance Updates

Learn how you can drive impact with proposed revisions to the GHG Protocol Scope 2 Guidance.

REsurety logo
WattTime logo
Amazon logo

Between now and March 14, 2023, the creators of the GHG Protocol are accepting feedback on the accounting standard and how it should be improved. The GHGP has been successful in motivating hundreds of companies and institutions worldwide to invest in renewable energy, but when it comes to its Scope 2 emissions accounting approach, there is a need to refocus the standard on real-world impact.

During this recorded webinar you’ll hear from Faraz Ahmad (Amazon), Adam Reeve (REsurety), and Henry Richardson (WattTime) on a discussion for proposed GHG Protocol updates that drive greater emissions reductions. The session provides an overview of existing electricity accounting approaches, a break down of a new impact-centric approach to carbon accounting that climate advocates worldwide are rallying behind, and a discussion on how sustainability leaders can leverage this approach. There’s also a lengthy interactive Q&A after the presentations.

Watch the full recording below.

About the speakers

Faraz Ahmad, Head of Net Zero Grid @ Amazon

Faraz Ahmad leads Net Zero Electricity at Amazon, part of Amazon’s overall goal of becoming net zero emissions by 2040. Before joining Amazon, Faraz led strategy, business development and M&A functions at NextEra Energy’s Retail division. Faraz’s career has focused on energy, innovation & technology commercialization and corporate strategy. Faraz has built several businesses at GE and NextEra focused on energy generation and optimization in both developed and emerging markets. Faraz is a fellow of the Energy Institute and was previously selected as a Future Energy Leader by the World Energy Council. He holds a Bachelor’s and Master’s degree in Electrical & Information Engineering and Management from Cambridge University and MIT.

Adam Reeve, SVP of Software Solutions @ REsurety

Adam Reeve

Adam Reeve is a mechanical engineer and data scientist with a strong interest in the rapidly evolving renewable energy landscape. Before joining the REsurety team, he worked for a proprietary trading firm specializing in quantitative analysis of energy markets. His deep experience in data-driven analysis, model building, risk assessment and data visualization support REsurety’s analytical approach to quantifying and managing the weather-linked revenue risks of wind power projects. Mr. Reeve holds a Bachelor’s degree in Mechanical Engineering and Political Science from Yale College, with a focus on energy and environmental studies. He graduated with distinction in both majors.

Henry Richardson, Senior Analyst @ WattTime

As a senior analyst at WattTime, Henry enables partners and collaborators to understand how they can affect the electric grid and achieve greater reductions in greenhouse gas emissions, whether through location-based renewables siting (Emissionality) or by incorporating load flexibility into their solutions. Henry specializes in carbon accounting, building performance, emissions-focused load shifting, and energy storage integration. Prior to joining WattTime, Henry was a Senior Environmental Designer at Atelier Ten where he focused on high performance building design including daylighting, energy, water, and materials.

The Big REthink: Understanding ESG’s Impact on Business

The Big Rethink podcast on ESG

Today, as climate concerns continue to rise, consumers, employees and investors are looking for a lot more transparency from the companies they buy from, work for and support. On this episode of The Big REthink, Lee Taylor, co-founder and CEO of REsurety, talks to host Brian Rowley about the current state of clean energy initiatives, what REsurety is doing to make a positive impact, and what the future of clean energy looks like. He also breaks down what it all means for business.

Listen to a short clip from the podcast below, or listen to the full podcast here.

Q4 2022 State of the Renewables Market Report

Carl Ostridge

A view of Q4 2022 U.S. renewable energy performance

REsurety State of the Renewable Market report

REsurety creates the State of the Renewables Market report every quarter to provide readers with data-driven insight into the value and emerging trends of renewable generation in U.S. power markets. We use our domain expertise in power markets, atmospheric science, and renewable offtake to analyze thousands of locations and summarize key findings here. All of the data behind this analysis is curated by REsurety’s team of experts and available via our software products. It includes aggregated metrics for wind and solar projects operating in the U.S. All summaries are calculated using hourly-level data, and all energy-weighted price metrics are calculated using concurrent weather-driven generation and energy price time series. Please fill out the form at the bottom of the page to access the full report, the Editor’s Note is below.

Carl Ostridge, Senior Vice President of Analytics Services at REsurety

Carl Ostridge
SVP of Analytics Services

Editor’s Note:

For Renewables, Timing is Everything

The final quarter of 2022 closed out with some extreme weather across most of the country and while lots of comparisons were quickly drawn against 2021’s Winter Storm Uri, December of 2022 also provided useful insights into the changing dynamics of power markets as renewable energy penetration rates increase. While the impact on market prices was smaller overall compared to Uri, one of the most interesting outcomes from the winter weather was present in ERCOT and highlighted the fact that timing is everything when it comes to capturing value from renewable energy assets.

The map in Figure 1 shows the “capture rate” potential of solar assets across the ERCOT footprint in December, 2022. Capture rate is the ratio of generation-weighted price and simple average price during the period in question and shows how much of the average price is ‘captured’ by, in this case, solar assets. Immediately visible is the interesting geographic trend across the ERCOT footprint, with the highest solar capture rates occurring in the east and west extremities while the lowest capture rates occur in the center. To understand what’s driving this, we need to look at the underlying data for one specific day.

Solar Capture Rate at ERCOT North Hub RT, December 2022
Figure 1: Solar Capture Rate at ERCOT North Hub RT, December 2022
Modeled Generation for 100MW Solar Assets Located in the Houston and Midland Regions & Market Prices, December 23rd, 2022
Figure 2: Modeled Generation for 100MW Solar Assets Located in the Houston and Midland Regions & Market Prices, December 23rd, 2022

Figure 2 shows the hourly average real-time market prices on December 23rd, 2022 as well as the generation of two hypothetical solar assets; one in west Texas and another close to the Houston area. The highest prices during this day occurred early in the morning and in the evening, meaning that most of the solar output during December 23rd did not coincide with the high prices. This leads to the very low overall capture rates in December, ranging from ~45-60% across ERCOT. But importantly, the lower prices during the day are not actually a coincidence – peak solar output has more than doubled since 2020 and there was approximately 8 GW of solar generation during the middle of the day on December 23rd, 2022, enough to move the grid out of scarcity pricing mode and back to more “normal” prices. This dynamic also creates values for locations with early sunrises (in the east) and late sunsets (in the west). The difference in sunrise and sunset times in Midland and Houston on December 23rd was approximately 30 minutes, but that was enough to secure an additional $50/MWh of value. Solar assets located close to Houston would have been able to capture the value of the high market prices before the sun came up on most of the existing solar assets further west and prices fell. That $50/MWh difference might not sound like a lot, but considering that solar capacity in ERCOT is predicted to exceed 20 GW by 2025, this type of ‘duck curve’ where solar generation serves to systematically reduce prices during the day is likely to happen with increasing frequency. Therefore, siting solar assets in locations able to naturally take advantage of the ramp hours may become increasingly valuable.

Finally, this shift in ERCOT’s grid mix, price dynamics, and subsequent drop in solar capture rates is predicted by REsurety’s Weather-Smart Fundamentals modeling. REsurety models ERCOT’s grid in 5 different future states, including high storage and net zero, and computes outcomes based on weather data representing the past 40+ years to derive the data in Figure 3 below.

ERCOT Solar Capture Rates Predicted by REsurety's Weather-Smart Modeling
Figure 3: ERCOT Solar Capture Rates Predicted by REsurety’s Weather-Smart Modeling

The average solar capture rate in ERCOT is forecast to drop below 100% by 2024, driven by the type of event we’re highlighting here – solar generation is high enough to reduce prices during the day and scarcity pricing is moved to the early morning and evening hours. As ever, timing will be the key to renewable energy value.

Q4 2022 Report Download

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Eight Minutes Podcast: Emissions First

Eight Minutes podcast
Eight Minutes Podcast logo

Not all renewable power projects are alike. A wind project placed next to another wind project may not have the same impact on reducing carbon emissions as one placed near a coal facility. The location and timing of when the renewable power is produced is important in order to truly maximize the impact.

Enter REsurety, an analytics firm that is providing large commercial & industrial consumers of electricity with the data and insight needed to maximize the value from these renewable projects. Lee Taylor, CEO of REsurety, joins Paul Schuster to discuss the importance of an Emissions First perspective on project development.

You can find the full podcast as well as a condensed version here, and a full transcript with a PDF download option below.