state of the market€¦ · 2019 announced corporate renewable deals in the u.s. by week as of...

STATEOF THEMARKET

Thank you to the Supporters of REBA and the Sponsors of REBA Connect: Virtual Member Summit

Thank you to all our REBA members!

Adobe

Anheuser-Busch InBev

Atlassian

Autodesk

Bloomberg

Cargill

Cisco

Cummins Inc.

eBay

Equinix

Freeport-McMoRan

IBM

Iron Mountain

McDonald's USA, LLC

Micron Technology

Nestle

Nike

PayPal

PepsiCo

Starbucks Corp

VF Corporation

174 Power Global

Bank of America Merrill Lynch

Covington & Burling LLP

CustomerFirst Renewables

Morgan Stanley Capital Group

Orsted

Wilson Sonsini

REBA Leadership Circle

Gold Members

Platinum MembersAT&T Microsoft

QTS Target VMware

Acknowledgements

CDP

Electric Reliability Council of Texas

Energy Information Administration

National Renewable Energy

Laboratory

RE100

Science Based Targets

S&P Global

Third Party Data SourcesAuthors

Bryn Baker

Miranda Ballentine

Priya Barua

Katherine Kerr

Camorah King

Alex Klonick

Mark Porter

Laura Vendetta

4

Agenda

The Buyers Journey

US Market Overview and Key Trends

Unlocking Future Procurement Options

Leadership Trends

5

Agenda

The Buyers Journey



Leadership Trends

6

The Buyers JourneyFrom planning to action

TRANSPARENCY• Accounting for your

carbon footprint• Mapping your energy

consumption

COMMITMENT• Setting carbon

reduction targets• Pledging to clean

energy goals

ACTION• Pursuing goals with

RECs, PPAs, project ownership and more

• Restarting the process for supply chain, 24/7 renewables, etc.

FEEDBACK LOOP

7


TRANSPARENCY• Accounting for your

carbon footprint• Mapping your energy

consumption

COMMITMENT

ACTION

FEEDBACK LOOP

8

The Buyers Journey – TransparencyReporting is a key first step to managing a path forward

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

TotalCompaniesDisclosingtoCDP

Source: https://www.cdp.net/en/companies/companies-scores

Companies disclosing to CDP

9

Tota

l Co

mp

anie

s D

iscl

osi

ng

to C

DP

https://www.cdp.net/en/companies/companies-scores


TRANSPARENCY

COMMITMENT• Setting carbon

reduction targets• Pledging to clean

energy goals

ACTION

FEEDBACK LOOP

10

The Buyers Journey – CommitmentsIncreases in goal setting with both an emissions and energy focus

2015 2016 2017 2018 2019 2020YTD

0

100

200

300

400

NewSBTCompan

ies

0

200

400

600

800

TotalSBTCompan

ies

2014 2015 2016 2017 2018 2019 2020YTD

0

10

20

30

40

50

60

70

NewRE100Compan

ies

0

50

100

150

200

TotalR

E100Compan

ies

Science Based Targets Companies RE100 Companies

Source: https://sciencebasedtargets.org/companies-taking-action/# Source: http://there100.org/companies

11

Ne

w S

BT

Co

mp

anie

s

Tota

l SB

T C

om

pan

ies

Tota

l RE1

00

Co

mp

anie

s

Ne

w R

E10

0 C

om

pan

ies

https://sciencebasedtargets.org/companies-taking-action/

http://there100.org/companies


TRANSPARENCY

COMMITMENT

ACTION• Pursuing goals with

RECs, PPAs, project ownership and more

• Restarting the process for supply chain, 24/7 renewables, etc.

FEEDBACK LOOP

12

The Buyers Journey – ActionConsistent growth in voluntary market sales

NREL Voluntary Green Power Sales

Source: https://www.nrel.gov/docs/fy20osti/74862.pdf

13

Tota

l Gre

en

Po

we

r Sa

les

(MW

h)

https://www.nrel.gov/docs/fy20osti/74862.pdf

Agenda

The Buyers Journey



Leadership Trends

14

Announced Corporate Renewable Deals in the U.S.

A s of A pril 24, 2020. Publicly announced contracted capacity of corporate Power Purchase Agreements, Green Power Purchases, G reen Tariffs, and Outright Project Ownership in the US, 2015-2020 by quarter. Excludes on-site generation (e.g., rooftop solar PV ) and deals with operating plants. (#) indicates number of deals each year by individual companies. Copyright 2020 Renewable Energy Buyers Alliance. Produced in part using data from S&P Global Market Intelligence, Copyright © 2020.

2014 2015 2016 2017 2018 2019 2020

0.0

2.0

4.0

6.0

8.0

10.0

1.20

3.22

1.54

2.76

6.39

9.33

1.76

GW

of

Cap

acit

y

Over 26GW announced in the last 10 years

15

Announced Corporate Renewable Deals in the U.S. by Quarter


Over 15GW announced in the last 2 calendar years

16

GW

of

Cap

acit

y



Q1 2020 is down for a few reasons

17

GW

of

Cap

acit

y

2019 Announced Corporate Renewable Deals in the U.S. by Week


~3 GWs announced within 8 days in September

GW

of

Cap

acit

y

18



Q2 2020 to date has already surpassed Q2 2018

GW

of

Cap

acit

y

19

Market Expansion: New Buyers

Over 100 companies have transacted in utility-scale renewable energy market since 2008A s of A pril 24, 2020. Publicly announced contracted capacity of corporate Power Purchase Agreements, Green Power Purchases, G reen Tariffs, and Outright Project Ownership in the US, 2015-2020 by quarter. Excludes on-site generation (e.g., rooftop

solar PV ) and deals with operating plants. (#) indicates number of deals each year by individual companies. Copyright 2020 Renewable Energy Buyers Alliance. Produced in part using data from S&P Global Market Intelligence, Copyright © 2020.

20

Ne

w B

uye

rs

Cu

mu

lati

ve U

niq

ue

Bu

yers

Market Expansion: New Energy Providers


21

Cu

mu

lati

ve U

niq

ue

En

erg

y P

rovi

de

rs

Ne

w E

ne

rgy

Pro

vid

ers

Increase In Unknown Deal Counterparties

In 2019, 2+ GWs from ~12 announced deals did not make energy provider publicA s of A pril 24, 2020. Publicly announced contracted capacity of corporate Power Purchase Agreements, Green Power Purchases, G reen Tariffs, and Outright Project Ownership in the US, 2015-2020 by quarter. Excludes on-site generation (e.g., rooftop


2014 2015 2016 2017 2018 2019

0.0

2.0

4.0

6.0

8.0

10.0

1.20

3.22

1.54

2.76

6.39

9.33

2.17

22

GW

of

Cap

acit

y

Technology Evolution* This does not include ~800 MWs of deals in which the technology is not known

SolarWind

At least 2.5 GW of ~5 GW of solar announced in 2019 was in ERCOTA s of A pril 24, 2020. Publicly announced contracted capacity of corporate Power Purchase Agreements, Green Power Purchases, G reen Tariffs, and Outright Project Ownership in the US, 2015-2020 by quarter. Excludes on-site generation (e.g., rooftop


23

GW

of

Cap

acit

y

Where are Corporates Signing Deals? – Until 2020YTD

Count of deals1 25+

24

CO2 Emission Factors From Electric Power

Source: 2017 Total Electric Industry Power Data – EIA.com

Emissions factor (metric tons/MWh)

0.01 0.95

25

CO2 Emissions From Electric Power

Source: 2017 Total Electric Industry Power Data – EIA.com

26

Battery Capacity in the ERCOT Interconnection Queue Now Exceeds Gas Capacity

Battery

Gas

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar

0%

25%

50%

75%

100%

10,825 10,529 10,537

2,847 3,012 3,265

10,103

3,5014,121 3,957

9,737 9,740

3,9714,200

4,453

9,2838,207

7,405

5,628

7,215 7,790

7,445

5,898 5,607

10,3808,965 9,978

5,607 5,507 5,749

Source: http://mis.ercot.com/misapp/GetReports.do?reportTypeId=15933&reportTitle=GIS%20Report&showHTMLView=&mimicKey

Numbers on bars represent MWs of each tech category

27

http://mis.ercot.com/misapp/GetReports.do?reportTypeId=15933&reportTitle=GIS%20Report&showHTMLView=&mimicKey

Agenda

The Buyers Journey



Leadership Trends

28

Pathway 1: Greening the Grid for AllStates Driving Decarbonization

29

Pathway 1: Greening the Grid for AllUtilities Setting Decarbonization Commitments

30

Pathway 1: Where is the Grid Greening for All?

31

Pathway 2: Increase and Improve Customer OptionsRTO Expansion

Source: isorto.org

32

Pathway 2: Increase and Improve Customer OptionsStates with Green Tariffs Approved and Used

17 states have green tariffs available, 14 have active C&I customers

Data from REBA Green Tariff tracking and only includes deals that involve build of new generation and corporate commitments

33

Pathway 2: Increase and Improve Customer OptionsUtility Territories with Approved Green Tariffs Used by Corporates

Narrowing deployed green tariffs to utility service territories further highlights their limited availability

Data from REBA Green Tariff tracking and only includes deals that involve build of new generation and corporate commitments

34

Pathway 2: Increase and Improve Customer OptionsWhere do customers have options?

35

Bringing It All Together...

36

Bringing It All Together...

% of Electricity Consumption that is RenewableBased on EIA 2017 data

17%

2%

8%

52%

33%

4%

29%

42%

22%

4%

10%

28%

37

Agenda

The Buyers Journey



Leadership Trends

38

3

Policy & Regulatory Engagement

4

More International Procurement

5

Focus on Supply Chain Partners

6

Impact Beyond Carbon

1

Transitioning from 100% RE goals to

24-7/365 zero carbon

source: Google

2

New/Additional Projects

Material Impact Projects

source: WattTime

Trends Where Large Energy Consumers Want to Lead

39

40

Thank you!

state of the market€¦ · 2019 announced corporate renewable deals in the u.s. by week as of...

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