The document discusses recognizing the value of distributed energy resources (DERs) through three case studies:
1) NYISO outlines several models for DER market participation and provides greater revenue certainty for solar plus storage through revisions to its value stack.
2) In PJM, DERs accounted for over 65% of economic demand response activity in 2018. Behind-the-meter battery storage dominated the regulation market.
3) In CAISO, utility-operated demand response programs are declining while third-party proxy demand resources and reliability demand response resources are growing to provide grid services.
Solar + storage deployment has grown exponentially over the course of the last 12 months. Our energy storage experts at Wood Mackenzie Power & Renewables will analyze key technology, economic and policy drivers at a global scale for the next three years, explaining why solar + storage is such a key step in enhancing the energy system of the future.
In rural Nigeria, many communities depend on diesel generators, and pay a high price for harmful, polluting, unreliable power. Hospitals are often forced to close when power fails, and when life-support systems shut down, lives are lost.
The Lagos State Electricity Board (LSEB) selected Schneider Electric to bring solar power and storage to 172 schools and 11 public health centers in rural Nigeria.
Wood Mackenzie Power & Renewables Breakfast Briefing II: Battery and Non-Batt...Nicole Green
Storage system prices have declined by more than 60% since 2012 and are expected to decline by another 30% over the next five years. Historically battery prices drove the bulk of system price declines, but in the future both battery prices and non-battery components like inverters, software & controls, and design, engineering and construction services will drive system price reductions. Where will the market see most savings? How will the vendor landscape evolve over the course of the next five years, as the storage industry collectively targets bringing down system prices further.
Home Area Networks: A Preferred Choice for Energy EfficiencyCognizant
The day is here when home area networks (HANs) contribute to energy efficiency for utilities and home users; the way forward will be driven by automated demand response (ADR), automated demand side management (DSM), dynamic pricing, and electric vehicle (EV) charging among other key factors.
Solar + storage deployment has grown exponentially over the course of the last 12 months. Our energy storage experts at Wood Mackenzie Power & Renewables will analyze key technology, economic and policy drivers at a global scale for the next three years, explaining why solar + storage is such a key step in enhancing the energy system of the future.
In rural Nigeria, many communities depend on diesel generators, and pay a high price for harmful, polluting, unreliable power. Hospitals are often forced to close when power fails, and when life-support systems shut down, lives are lost.
The Lagos State Electricity Board (LSEB) selected Schneider Electric to bring solar power and storage to 172 schools and 11 public health centers in rural Nigeria.
Wood Mackenzie Power & Renewables Breakfast Briefing II: Battery and Non-Batt...Nicole Green
Storage system prices have declined by more than 60% since 2012 and are expected to decline by another 30% over the next five years. Historically battery prices drove the bulk of system price declines, but in the future both battery prices and non-battery components like inverters, software & controls, and design, engineering and construction services will drive system price reductions. Where will the market see most savings? How will the vendor landscape evolve over the course of the next five years, as the storage industry collectively targets bringing down system prices further.
Home Area Networks: A Preferred Choice for Energy EfficiencyCognizant
The day is here when home area networks (HANs) contribute to energy efficiency for utilities and home users; the way forward will be driven by automated demand response (ADR), automated demand side management (DSM), dynamic pricing, and electric vehicle (EV) charging among other key factors.
PowerSecure is a leading provider of innovative energy solutions to electric utilities and their industrial, institutional, and commercial customers. PowerSecure provides energy solutions in the areas of distributed energy infrastructure, energy efficiency, and utility infrastructure. Distributed energy infrastructure solutions include Interactive Distributed Generation® (iDG®), solar energy, fuel cells, energy storage and microgrid solutions. PowerSecure is a pioneer in developing distributed power systems and integration of distributed energy resources in a sophisticated microgrid.
Future Electricity Markets: key pillars with high shares of wind and PVLeonardo ENERGY
More and more countries world-wide are targeting high shares of wind and solar photovoltaics in their electricity mix. To integrate high shares of these variable renewable energy sources, the electricity system needs to become more flexible in order to balance supply and demand at all times. The webinar will discuss key design features of future electricity markets, including incentives for more flexible fossil-fuel based and renewable-based power generation, modifications to the design of electricity markets, incentives for more flexible demand, and storage options.
Energy Efficiency Workshop - Powering SydneyTransGrid AU
The workshop held on 25 September 2014 brought together a range of organisations and experts to explore energy efficiency as a possible initiative to form part of the solution for the Powering Sydney’s Future Project.
Presented by Hans Nilsson, FourFact, Sweden, former Chairman of the IEA DSM Programme, at present Advisor to the IEA DSM Programme at the IEA DSM workshop in Espoo, Finland on 14 November 2012.
Power to the people: shifting control over electricity to citizens and consumersLeonardo ENERGY
Efficient electricity prices are only the first step to unleashing the potential for consumers to help drive the energy transition. In this webinar, David Robinson from the Oxford Institute for Energy Studies will present on how consumers can help decarbonize the electricity system and how to engage the demand side through a combination of price and non-price incentives.
Using human-centred design to improve energy efficiency programsLeonardo ENERGY
Human-centred design is being used to make the NSW energy savings scheme more effective. We started with research that identified six key insights for improved scheme operation. It found that the scheme is complex and its fragmented tools and systems create unnecessary barriers to entry. We then used workshops to develop six corresponding opportunities for improved service delivery. To scale up we need streamlined manual processes, more collaboration and improved digital systems. This is especially relevant given recent announcements that the scheme is being extended to 2050.
This talk will present the research, and will place it in the context of changes announced as part of the NSW Energy Strategy. It will explore small, medium and long term changes to scheme delivery identified through the HCD process and our proposed next steps.
The NSW Energy Savings Scheme started in 2009. It has so far delivered projects that will save 27,000 gigawatt hours of energy and $5.6 billion in bill savings over their lifetimes.
Abengoa is an expert in the hybridization of power plants to provide dispatchable, clean energy solutions, and its capabilities to supply affordable and reliable decarbonization solutions for mines, industrial facilities and isolated grids.
Hybrid resources: Challenges, Implications, Opportunities, and InnovationAndrew Gelston
Publication in the IEEE power & energy magazine November/December 2021 Issue on Hybrid renewable + Storage resources.
Layman explanation of why 1+1 = 3, rather then 2, with Hybrid co-optimizing internally as a single resource
Webinar recording at https://youtu.be/Ph9AW2PEgBg
This webinar addresses the key drivers of the PV market and industry in the coming years based on the Trends 2019. Gaëtan Masson, Operating Agent of IEA PVPS Task 1, will look at the past developments and future scenarios, from a global market development point of view to some key price evolution features. From social aspects of PV, collective and decentralised self-consumption policies to floating PV, this webinar will browse the global landscape of PV development. Izumi Kaizuka, deputy chair of the IEA PVPS Task 1, will present the trends of the PV Industry. The production of polysilicon, ingots, wafers, PV cells and modules have been growing with the growth of the PV market. The gap between manufacturing capacity of PV module and the demand contributed to the recent price reduction thus resulted in lower LCOE of PV power. Across the value chain, the PV upstream sector makes efforts to improve efficiency, output and reliability. Further progress of cost reduction is expected. In the downstream sector, players are also applying various methods to reduce LCOE.
New energy technology businesses are helping change the way EirGrid manages electricity demand during peak times. Companies who are participate are increasing their site resliance, efficiencies and generating new recurring revenues.
Presented by Pete Scarpelli, Schneider Electric, Demand Response Resource Center, France at the IEA DSM Programme workshop in Vienna, Austria on 1 April 2009.
How the Energy Efficiency sector can embrace Exponential Leadership principles to spark meaningful change for the environment. Oct 2019 Keynote presentation at The Power of Collaboration conference hosted by ESG / Direct Technology.
PowerSecure is a leading provider of innovative energy solutions to electric utilities and their industrial, institutional, and commercial customers. PowerSecure provides energy solutions in the areas of distributed energy infrastructure, energy efficiency, and utility infrastructure. Distributed energy infrastructure solutions include Interactive Distributed Generation® (iDG®), solar energy, fuel cells, energy storage and microgrid solutions. PowerSecure is a pioneer in developing distributed power systems and integration of distributed energy resources in a sophisticated microgrid.
Future Electricity Markets: key pillars with high shares of wind and PVLeonardo ENERGY
More and more countries world-wide are targeting high shares of wind and solar photovoltaics in their electricity mix. To integrate high shares of these variable renewable energy sources, the electricity system needs to become more flexible in order to balance supply and demand at all times. The webinar will discuss key design features of future electricity markets, including incentives for more flexible fossil-fuel based and renewable-based power generation, modifications to the design of electricity markets, incentives for more flexible demand, and storage options.
Energy Efficiency Workshop - Powering SydneyTransGrid AU
The workshop held on 25 September 2014 brought together a range of organisations and experts to explore energy efficiency as a possible initiative to form part of the solution for the Powering Sydney’s Future Project.
Presented by Hans Nilsson, FourFact, Sweden, former Chairman of the IEA DSM Programme, at present Advisor to the IEA DSM Programme at the IEA DSM workshop in Espoo, Finland on 14 November 2012.
Power to the people: shifting control over electricity to citizens and consumersLeonardo ENERGY
Efficient electricity prices are only the first step to unleashing the potential for consumers to help drive the energy transition. In this webinar, David Robinson from the Oxford Institute for Energy Studies will present on how consumers can help decarbonize the electricity system and how to engage the demand side through a combination of price and non-price incentives.
Using human-centred design to improve energy efficiency programsLeonardo ENERGY
Human-centred design is being used to make the NSW energy savings scheme more effective. We started with research that identified six key insights for improved scheme operation. It found that the scheme is complex and its fragmented tools and systems create unnecessary barriers to entry. We then used workshops to develop six corresponding opportunities for improved service delivery. To scale up we need streamlined manual processes, more collaboration and improved digital systems. This is especially relevant given recent announcements that the scheme is being extended to 2050.
This talk will present the research, and will place it in the context of changes announced as part of the NSW Energy Strategy. It will explore small, medium and long term changes to scheme delivery identified through the HCD process and our proposed next steps.
The NSW Energy Savings Scheme started in 2009. It has so far delivered projects that will save 27,000 gigawatt hours of energy and $5.6 billion in bill savings over their lifetimes.
Abengoa is an expert in the hybridization of power plants to provide dispatchable, clean energy solutions, and its capabilities to supply affordable and reliable decarbonization solutions for mines, industrial facilities and isolated grids.
Hybrid resources: Challenges, Implications, Opportunities, and InnovationAndrew Gelston
Publication in the IEEE power & energy magazine November/December 2021 Issue on Hybrid renewable + Storage resources.
Layman explanation of why 1+1 = 3, rather then 2, with Hybrid co-optimizing internally as a single resource
Webinar recording at https://youtu.be/Ph9AW2PEgBg
This webinar addresses the key drivers of the PV market and industry in the coming years based on the Trends 2019. Gaëtan Masson, Operating Agent of IEA PVPS Task 1, will look at the past developments and future scenarios, from a global market development point of view to some key price evolution features. From social aspects of PV, collective and decentralised self-consumption policies to floating PV, this webinar will browse the global landscape of PV development. Izumi Kaizuka, deputy chair of the IEA PVPS Task 1, will present the trends of the PV Industry. The production of polysilicon, ingots, wafers, PV cells and modules have been growing with the growth of the PV market. The gap between manufacturing capacity of PV module and the demand contributed to the recent price reduction thus resulted in lower LCOE of PV power. Across the value chain, the PV upstream sector makes efforts to improve efficiency, output and reliability. Further progress of cost reduction is expected. In the downstream sector, players are also applying various methods to reduce LCOE.
New energy technology businesses are helping change the way EirGrid manages electricity demand during peak times. Companies who are participate are increasing their site resliance, efficiencies and generating new recurring revenues.
Presented by Pete Scarpelli, Schneider Electric, Demand Response Resource Center, France at the IEA DSM Programme workshop in Vienna, Austria on 1 April 2009.
How the Energy Efficiency sector can embrace Exponential Leadership principles to spark meaningful change for the environment. Oct 2019 Keynote presentation at The Power of Collaboration conference hosted by ESG / Direct Technology.
Community Microgrids: A resilient clean energy solution for citiesClean Coalition
From 2017 to 2018, the U.S. experienced 30 weather- and climate-related events that cost $1 billion or more and collectively caused damage totaling a record-breaking $404 billion, not including the loss of human life. The Clean Coalition is staging Community Microgrids to provide resilience in the face of these disasters. Municipalities and their constituents are interested in building resilient communities, and Community Microgrids provide a solution that combines solar generation with energy storage and other distributed energy resources (DER) to provide indefinite renewables-driven backup power for critical loads. Many public agencies are taking a serious look at solar+storage to offset increasing utility costs, and to help achieve their climate goals. Adding microgrid-specific equipment like switches and monitoring, communications, and control equipment allows critical facilities to island during grid outages, providing business continuity and resilience with renewables-driven backup power.
Describes the results of a National Renewable Energy Laboratory sponsored innovation project for designing tariffs, rates, and customer programs to incentivize the deployment of Distributed Energy Resources. In particular we examine customer-sited, centrally controlled energy storage (aka batteries) aggregated into a VPP. We propose a VPP operating strategy and quantify a number of value stream that could be realized by executing that strategy.
The project involves determining real time electricity charges incurred by the residential consumers. The smart grid integrated with residential PV systems was modeled in Simulink to determine demand response in dynamic pricing environment. Based on the load demand, electricity charges were calculated and compared with flat rate charges to highlight cost savings.
GE Distributed Power - On Site Energy Solutions For Commercial And Industrial...FMA Summits
Eduardo Alcorta is a senior business development leader at GE´s Distributed Power business. GE’s gas engines business unit produces gaseous-fueled reciprocating engines and generator sets from 200kW to 9.5MW, that are used to drive generators, gas compressors, and other mechanical equipment like pumps, blowers, and air compressors, for a wide range of industries and applications.
Ed has over twelve years of industry experience, including 5 years at GE Distributed Power, with prior roles in application engineering, project engineering, and design of aeroderivative turbine packages for the power generation and oil & gas industries.
Dr. Engr. Tajudeen Humble Sikiru Presentation at Power Nigeria 2018.
Designing Mini-grid Systems.
How to design a mini-grid system. Where to look for the necessary data during the planing stage. How to use financial model to determine tariff. Impact of smart meters to revenue generation in mini-grids.
The Role of Energy Storage in the Future Electricity SystemLorenzo Kristov
Energy storage at various scales can be the key to integrating large amounts of renewable generating resources into the electric power system. Growth of storage is advanced by a combination of policies and economics. Presentation for the Portuguese National Committee of CIGRE, 2017.
ScottMadden has developed the following document, which provides an overview of DERs, a description of why they are causing so much upheaval in the industry, a summary of the NARUC reports, and an outline of the key questions utilities must address in relation to DERs.
Presentation by Bushveld Energy from the March 2019 Power Electricity & World Africa conference in South Africa. The presentation covers four questions:
1) How does storage technology integrate with energy generation and then with renewables ?
2) What are the key critical success factors that relate to the development of an energy storage project ?
3) Is there a greenfield pipeline of bankable projects?
4) Who is likely to finance these assets?
Integrating renewables and enabling flexibility of households and buildingsLeonardo ENERGY
Demand response is seen as measure to increase the power system flexibility. Recent developments from research projects and pilots pave the way to large scale deployment and commercialization. This webinar will present the potentials of different DR technologies and different national and international approaches and discusses how flexibility of demand is making its way into markets and network operation. IEA-DSM Task 17 addresses the current role and potential of flexibility in electricity demand and supply of systems of energy consuming/producing processes in buildings (residential and commercial) equipped with DER (Electric Vehicles, PV, storage, heat pumps, ...) and their impacts on the grid and markets.
Similar to A World Full of Possibilities: Integrating DERs into Wholesale Markets – Outlining Revenue Stream Models (20)
Research Keynote: Demystifying Mexican Large-Scale Renewable Development in t...Jill Kirkpatrick
With this keynote research presentation co-presented by Wood Mackenzie’s Latin America solar and wind experts, we will break down the implications of the auction cancellation, measuring how its shockwaves will condition investment and project finance in the short-and-mid-term (in current project portfolios).
The presentation will include our forecasts for solar and wind project pipelines past 2020.
Case Study: Blockchain as the Foundation of Alectra's Grid Exchange Transacti...Jill Kirkpatrick
Alectra Utilities is leveraging blockchain technologies to develop GridExchange, a platform for transactive energy that allows its users to create new energy markets, as well as bidding into existing ones.
Behavior changes are set based on homeowner preferences for use of their distributed energy resources. The platform also creates statistics on customer energy usage and validates participation in these energy markets, confirming settlement when compensation for energy services has been paid.
As a result, users are empowered with greater choices, control and autonomy to buy, consume, and sell energy, and the utility improves reliability and forecasting by gaining visibility of energy usage patterns and changing behaviors.
An Energy Blockchain Retrospective: Is Blockchain Delivering on Promises from...Jill Kirkpatrick
EWF will provide a look at the past, present and future of energy blockchain, covering the evolution of investment activity, key use cases and early findings on the real opportunity blockchain technology holds for unlocking significant value for energy players.
Artificial Reefs by Kuddle Life Foundation - May 2024punit537210
Situated in Pondicherry, India, Kuddle Life Foundation is a charitable, non-profit and non-governmental organization (NGO) dedicated to improving the living standards of coastal communities and simultaneously placing a strong emphasis on the protection of marine ecosystems.
One of the key areas we work in is Artificial Reefs. This presentation captures our journey so far and our learnings. We hope you get as excited about marine conservation and artificial reefs as we are.
Please visit our website: https://kuddlelife.org
Our Instagram channel:
@kuddlelifefoundation
Our Linkedin Page:
https://www.linkedin.com/company/kuddlelifefoundation/
and write to us if you have any questions:
info@kuddlelife.org
UNDERSTANDING WHAT GREEN WASHING IS!.pdfJulietMogola
Many companies today use green washing to lure the public into thinking they are conserving the environment but in real sense they are doing more harm. There have been such several cases from very big companies here in Kenya and also globally. This ranges from various sectors from manufacturing and goes to consumer products. Educating people on greenwashing will enable people to make better choices based on their analysis and not on what they see on marketing sites.
Diabetes is a rapidly and serious health problem in Pakistan. This chronic condition is associated with serious long-term complications, including higher risk of heart disease and stroke. Aggressive treatment of hypertension and hyperlipideamia can result in a substantial reduction in cardiovascular events in patients with diabetes 1. Consequently pharmacist-led diabetes cardiovascular risk (DCVR) clinics have been established in both primary and secondary care sites in NHS Lothian during the past five years. An audit of the pharmaceutical care delivery at the clinics was conducted in order to evaluate practice and to standardize the pharmacists’ documentation of outcomes. Pharmaceutical care issues (PCI) and patient details were collected both prospectively and retrospectively from three DCVR clinics. The PCI`s were categorized according to a triangularised system consisting of multiple categories. These were ‘checks’, ‘changes’ (‘change in drug therapy process’ and ‘change in drug therapy’), ‘drug therapy problems’ and ‘quality assurance descriptors’ (‘timer perspective’ and ‘degree of change’). A verified medication assessment tool (MAT) for patients with chronic cardiovascular disease was applied to the patients from one of the clinics. The tool was used to quantify PCI`s and pharmacist actions that were centered on implementing or enforcing clinical guideline standards. A database was developed to be used as an assessment tool and to standardize the documentation of achievement of outcomes. Feedback on the audit of the pharmaceutical care delivery and the database was received from the DCVR clinic pharmacist at a focus group meeting.
WRI’s brand new “Food Service Playbook for Promoting Sustainable Food Choices” gives food service operators the very latest strategies for creating dining environments that empower consumers to choose sustainable, plant-rich dishes. This research builds off our first guide for food service, now with industry experience and insights from nearly 350 academic trials.
Willie Nelson Net Worth: A Journey Through Music, Movies, and Business Venturesgreendigital
Willie Nelson is a name that resonates within the world of music and entertainment. Known for his unique voice, and masterful guitar skills. and an extraordinary career spanning several decades. Nelson has become a legend in the country music scene. But, his influence extends far beyond the realm of music. with ventures in acting, writing, activism, and business. This comprehensive article delves into Willie Nelson net worth. exploring the various facets of his career that have contributed to his large fortune.
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Introduction
Willie Nelson net worth is a testament to his enduring influence and success in many fields. Born on April 29, 1933, in Abbott, Texas. Nelson's journey from a humble beginning to becoming one of the most iconic figures in American music is nothing short of inspirational. His net worth, which estimated to be around $25 million as of 2024. reflects a career that is as diverse as it is prolific.
Early Life and Musical Beginnings
Humble Origins
Willie Hugh Nelson was born during the Great Depression. a time of significant economic hardship in the United States. Raised by his grandparents. Nelson found solace and inspiration in music from an early age. His grandmother taught him to play the guitar. setting the stage for what would become an illustrious career.
First Steps in Music
Nelson's initial foray into the music industry was fraught with challenges. He moved to Nashville, Tennessee, to pursue his dreams, but success did not come . Working as a songwriter, Nelson penned hits for other artists. which helped him gain a foothold in the competitive music scene. His songwriting skills contributed to his early earnings. laying the foundation for his net worth.
Rise to Stardom
Breakthrough Albums
The 1970s marked a turning point in Willie Nelson's career. His albums "Shotgun Willie" (1973), "Red Headed Stranger" (1975). and "Stardust" (1978) received critical acclaim and commercial success. These albums not only solidified his position in the country music genre. but also introduced his music to a broader audience. The success of these albums played a crucial role in boosting Willie Nelson net worth.
Iconic Songs
Willie Nelson net worth is also attributed to his extensive catalog of hit songs. Tracks like "Blue Eyes Crying in the Rain," "On the Road Again," and "Always on My Mind" have become timeless classics. These songs have not only earned Nelson large royalties but have also ensured his continued relevance in the music industry.
Acting and Film Career
Hollywood Ventures
In addition to his music career, Willie Nelson has also made a mark in Hollywood. His distinctive personality and on-screen presence have landed him roles in several films and television shows. Notable appearances include roles in "The Electric Horseman" (1979), "Honeysuckle Rose" (1980), and "Barbarosa" (1982). These acting gigs have added a significant amount to Willie Nelson net worth.
Television Appearances
Nelson's char
"Understanding the Carbon Cycle: Processes, Human Impacts, and Strategies for...MMariSelvam4
The carbon cycle is a critical component of Earth's environmental system, governing the movement and transformation of carbon through various reservoirs, including the atmosphere, oceans, soil, and living organisms. This complex cycle involves several key processes such as photosynthesis, respiration, decomposition, and carbon sequestration, each contributing to the regulation of carbon levels on the planet.
Human activities, particularly fossil fuel combustion and deforestation, have significantly altered the natural carbon cycle, leading to increased atmospheric carbon dioxide concentrations and driving climate change. Understanding the intricacies of the carbon cycle is essential for assessing the impacts of these changes and developing effective mitigation strategies.
By studying the carbon cycle, scientists can identify carbon sources and sinks, measure carbon fluxes, and predict future trends. This knowledge is crucial for crafting policies aimed at reducing carbon emissions, enhancing carbon storage, and promoting sustainable practices. The carbon cycle's interplay with climate systems, ecosystems, and human activities underscores its importance in maintaining a stable and healthy planet.
In-depth exploration of the carbon cycle reveals the delicate balance required to sustain life and the urgent need to address anthropogenic influences. Through research, education, and policy, we can work towards restoring equilibrium in the carbon cycle and ensuring a sustainable future for generations to come.
Characterization and the Kinetics of drying at the drying oven and with micro...Open Access Research Paper
The objective of this work is to contribute to valorization de Nephelium lappaceum by the characterization of kinetics of drying of seeds of Nephelium lappaceum. The seeds were dehydrated until a constant mass respectively in a drying oven and a microwawe oven. The temperatures and the powers of drying are respectively: 50, 60 and 70°C and 140, 280 and 420 W. The results show that the curves of drying of seeds of Nephelium lappaceum do not present a phase of constant kinetics. The coefficients of diffusion vary between 2.09.10-8 to 2.98. 10-8m-2/s in the interval of 50°C at 70°C and between 4.83×10-07 at 9.04×10-07 m-8/s for the powers going of 140 W with 420 W the relation between Arrhenius and a value of energy of activation of 16.49 kJ. mol-1 expressed the effect of the temperature on effective diffusivity.
Natural farming @ Dr. Siddhartha S. Jena.pptxsidjena70
A brief about organic farming/ Natural farming/ Zero budget natural farming/ Subash Palekar Natural farming which keeps us and environment safe and healthy. Next gen Agricultural practices of chemical free farming.
A World Full of Possibilities: Integrating DERs into Wholesale Markets – Outlining Revenue Stream Models
1. woodmac.com
A World Full of Possibilities:
Integrating DERs into Wholesale Markets
Daniel Finn-Foley
Principal Analyst, Energy Storage
@DanFinnFoley
4. woodmac.com
A “world full of possibilities” also taken literally
208 BC
8-12th century AD
100 - 450 AD
2560 BC
Diverse ecosystems independently converge to similar efficient solutions!
5. woodmac.com
Sand
• Grid analogue:
1831 - 1882
• Unstable
combination of
smaller materials
• Completely
distributed, early
generators
providing on-site
need but nothing
further
Pyramid
• Grid analogue:
1882 - 1900
• Larger building
blocks used to
supplement and
reinforce each
other
• The first DC electric
grids, bottom
heavy, inflexible
design
Vertical construction
• Grid analogue:
1900 - 1992
• Complexities,
design, planning,
and further use of
materials and
engineering
• Transition to AC
grids, transmission
vs. distribution,
scale and
complexity
Bricks
• Grid analogue:
1992 - present
• Designed and
standardized, focus
on efficiency
• “Modern” grids,
further
automation,
interconnection,
software and a
focus on efficiency
through
competitive design
Concrete
• Grid analogue: ? - ?
• Aggregate, cement,
and water, hardens
into customizable
structures
• The “transitional”
grid – DER-based,
software and
markets enable
resiliency, DERs
support each other
through advanced
platforms
Reinforced concrete
• Grid analogue: ???
• Rebar used to
complement
concrete’s
strengths
• The
“transformational”
grid – DER-based
with transmission
and adaptive
software for
resiliency and
efficiency
Building a structure and building a grid – more in common than not
7. woodmac.com
Source: NYISO, 24 April 20 Management Committee Meeting ‘DER Energy & Capacity Market Design’ presentation and 17 April Business Issues Committee 'DER Energy & Capacity Market Design’ presentation
Dispatchable
Aggregations of DER
An aggregation under the responsibility of an
aggregator and consists of resources:
• Can qualify to participate in all markets
• Capable of responding in real-time to NYISO’s
direction
Generator Resource
Model
Consisting of only generators
Energy Storage
Resource Model
Consisting of only energy storage resources (ESR)
Dispatchable DER
Model
Consisting of only Demand Side Resources (DSR, no
injection)
Mix of Generators, Energy Storage Resources, and
Demand Side Resources
Individual Resources
• Can qualify to participate in all markets
• Capable of injection, responding in real time
Generator Model
or Energy Storage
Resource Model
Individual Generator or Energy Storage Resource
Non-dispatchable
Non-dispatchable aggregation or individual
demand side resources
• Capable of load reduction
• Not capable of responding in real-time to
NYISO’s direction
Special Case Resources (SCR)
Individual Demand Side Resources or Small Customer Aggregation under the
responsibility of a Responsible Interface Party (RIP) and are resources qualified to
participate in Capacity Market
Emergency Demand Response Program
Individual Demand Side Resources under the responsibility of a Curtailment service
Provider (CSP) and are resources qualified to provide Energy during reliability
events
NYISO outlines DER market participation models
8. woodmac.com
NYISO aggregations participation options
Resource type As aggregations of: As an individual ESR As an individual ELR
As an individual
Generator
As an individual IPR
Demand Side
Resource
DER, SCR, EDRP No No No No
Storage ESR Yes Yes Yes No
Wind IPR (wind only) No No No Yes
Solar IPR (solar only) No No No Yes
GTs Gen (GTs only) No Yes Yes No
Other Generators Generators No Yes Yes No
Mixed DER No No No No
• All resources must individually qualify to be eligible
to aggregate as an Aggregation of LESR, CLR, ELR
• Generators with PURPA contracts, Limited Control
Run of River Resources, Behind-the-Meter Net
Generation Resources, Municipally-owned
Generation, System Resources, and Control Area
System Resources are not eligible to aggregate as an
Aggregation
Source: 17 April Business Issues Committee 'DER Energy & Capacity Market Design’ presentation
Key
CLR: Capacity Limited Resources
DSR: Demand Side Resource
EDRP: Emergency Demand Response Program
ELR: Energy Limited Resource
ESR: Energy Storage Resource
GT: Gas Turbine
IPR: Intermittent Power Resource
SCR: Special Case Resource
LESR: Limited Energy Storage Resource
9. woodmac.com
Source: Wood Mackenzie Power & Renewables ‘U.S. energy storage monitor: Q2 2019’
VDER revisions provide a boon for solar-plus-storage
Greater certainty of value stack revenues good news for financiers and developers
• In April 2019, NYSERDA announced changes to the Value of Distributed Energy Resources (VDER) value stack. Overall, these changes create
greater certainty around the payment from different aspects of the value stack. Highlighted changes to the value stack include:
• Capacity (ICAP): Windows for alternative narrowed, fewer hours each summer but potential revenue remains.
• Demand Reduction Value (DRV): now paid on performance over a known peak window, varying by utility, which provides greater revenue
certainty. Each utility includes five-hour window during summer weekdays, aligning with ICAP model. DRV rates and time periods are locked in for
10 years, providing further certainty.
• Locational System Relief Value (LSRV): shifts to a call system where utility will now have at least 10 call events per year with 21 hours prior
notice and occur during the DRV window. Calls will last 1-4 hours with compensation based on lowest net kW output during the call window. A
project that fails to respond to a call shall not be subject to any penalty. LSRV value and time period will be locked in for 10 years.
• Lining up windows for ICAP Alternative 2 and the DRV creates a significant opportunity for solar-plus-storage
• Extending LSRV and DRV values to 10 years will allow that portion of the value stack to become more financeable thanks to greater revenue certainty
over project lifetime.
• Movement towards “smart” targeting of hourly needs incentivizes storage by recognizing its value.
11. woodmac.com
Source: : PJM, 2018, 2017 & 2016 Distributed Energy Resources in PJM Demand Response Markets
2018 distributed energy resources in PJM DR markets
Demand response economic energy settled, MWh trendDay-ahead and real-time market settlements, 2013-2018
$0
$2
$4
$6
$8
$10
$12
$14
$16
$18
$20
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
2013 2014 2015 2016 2017 2018
MillionUSD
MWh
Day Ahead (MWh) Real Time (MWh)
Total CSP Credits (mil USD)
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
2013 2014 2015 2016 2017 2018
MWh
Day-ahead and Real-time Economic Energy Settled (MWh)
DER Economic Energy Settled (MWh)*
• Economic demand response has seen a decline in both volume and credits awarded since 2014, reaching its lowest levels of settlements in 2018;
settlements declined by more than 15% while revenue notches a 6% increase year-over-year.
• The figure on the right illustrates that the majority of economic DR activity in the PJM energy market in 2018 came from DERs (65%+)
*WoodMac estimate based on 2016, 2017 &
2018 Distributed Energy Resources in PJM
Demand Response Markets reports
12. woodmac.com
2018 distributed energy resources in PJM DR markets
PJM DR synchronized reserves settled, MWh trendPJM DR regulation settled, MWh trend for DERs
$0
$1
$1
$2
$2
$3
$3
$4
0
20,000
40,000
60,000
80,000
100,000
120,000
2013 2014 2015 2016 2017 2018
CSPCredits(millionUSD)
MWh
Battery Generator
Electric water heaters CSP Credits (million USD)
• Settled regulation demand response volume (MWh) has steadily increased
year-over-year since 2013.
• When compared to 2017, market revenue increased by 66%, while volume
cleared increased by approximately 59%.
• PJM reports that behind-the-meter battery storage was the primary resource
providing regulation, making up 65% of the volume (MWh) in the market in
2018.
• Since 2015, settled MWh of demand response synchronized reserves have
seen a steady increase year-over-year.
• CSP revenue declined from 2015 to 2017, but in 2018 revenue nearly doubled
year-over-year as prices increased.
• Over the years, demand response synchronous reserves have been dominated
by manufacturing, which make up 76% of 2018 CSP-reported load reduction in
megawatts, followed by behind-the-meter generators at 12%.
$0
$1
$2
$3
$4
$5
$6
$7
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
2013 2014 2015 2016 2017 2018
CSPCredits(millionUSD)
MWh
MWh CSP Credits (million USD)
Source: : PJM, 2018, 2017 & 2016 Distributed Energy Resources in PJM Demand Response Markets
14. woodmac.com
Source: CAISO, CPUC, SCE, PG&E, SDG&E
Demand response capacity from utility operated programs continues to decline
DRAM resources comprise 23% of total demand response capacity in 2019
• Price-responsive programs are transitioning to Proxy Demand
Resources (PDRs) in day-ahead and day-of markets.
• Reliability-based programs are only triggered when CAISO declares an
emergency; these utility programs are transitioning to Reliability
Demand Response Resources (RDRRs) in the CAISO.
• RDRRs can only enter the bid stack when an emergency condition is
declared, at prices between $950/MWh to $1,000/MWh. RDRRs were
implemented in 2014.
• Decline in utility programs can be attributed to:
o The CPUC has mandate that the three investor owned utilities
switch customers to time-of-use rates starting in 2019, hence the
heavy decline in utility price-based program capacity.
o The demand response auction mechanism (DRAM) pilot total 203
MW in 2019. DRAM has taken customers away from utility
programs and into those of third parties since customers cannot
participate in both utility and DRAM demand response.
Demand response from utility operated programs, 2012-
2019*
2,431
2,188
2,315
2,160
2,036
1,885
1,435 1,412
0
500
1,000
1,500
2,000
2,500
3,000
2012 2013 2014 2015 2016 2017 2018 2019
MW
DRAM SDG&E DRAM PG&E
DRAM SCE Reliability-Based DR Programs SDG&E
Reliability-Based DR Programs PG&E Reliability-Based DR Programs SCE
Price-Response DR Programs SDG&E Price-Response DR Programs PG&E
Price-Response DR Programs SCE DRAM SDG&E
*CAISO did not report utility data for 2018 in the annual report; WoodMac added the data from 2019 and 2018 from
the monthly Interruptible Load Programs and Demand Response Programs to the CPUC
15. woodmac.com
For the first time CAISO devotes a section to energy storage resources in the annual report
• As illustrated on the left, battery energy storage
capacity has been steadily increasing since 2015,
totaling 136 MW by the end of 2018.
• CAISO points out that “the majority of batteries
participating in ISO markets are located in locally
constrained areas.”
• Batteries are primarily receiving awards in ancillary
services providing including regulation (up and down)
and spin reserves.
• When providing energy, schedules are concentrated
during the ramping hours (evenings and mornings);
batteries are often charging at night and in the middle
of the day when production from renewables is the
highest.
Battery storage as non-generator resources 2015-2018
Source: CAISO 2018 Annual Report on Market Issues and Performance
-480
-320
-160
0
160
320
480
-150
-100
-50
0
50
100
150
2015 2016 2017 2018
Continuousenergy(MWh)
Positive capacity Negative capacity Max continuous energy (MWh)
16. woodmac.com
Behind-the-Meter Resources Are Getting Entrenched in Real-Time Operations
Source: CAISO Docket No. ER06-615-000
2016-2018 non-spinning reserve and real-time energy
payments
• In January 2018 the Annual Report Evaluating Demand Response
Participation in the CAISO for 2017 was released, covering the
period from January 1 through November 30, 2018.
• The report summarizes the payments made for the provision of
nonspinning reserves capacity and real-time energy. Year-over-year
there is an observed significant uptick in demand response activity. In
2016 demand response providers earned just under $0.5 million while
in 2017 payments increased nearly nine-fold to $4.2 million; in 2018
payments increased to $5.05 million.
*See California Independent System Operator Corp. 119 FERC ¶ 61,313, at P 226 (2007). The CAISO has filed annual reports on
demand response participation each January since that order was issued.
$0
$1
$2
$3
$4
$5
$6
2016 2017 2018
USDmillion
Real-time energy Non-spinning reserves
18. woodmac.com
• In February 2017 Sunrun announced that it had won a contract for 20 MW of
solar-plus-storage capacity through ISO-NE’s capacity market, competing directly
against conventional generation for the 2022 delivery year.
• The most critical takeaway here is that aggregation is happening today*.
• Success begets success, and DER and hybrid participation models will continue
to grow and evolve as cheap solar, storage, and other distributed assets explore
every avenue to provide value.
*The actual announcement was 5 months ago and the capacity will not be due until 2022 but these details make this statement much less impactful so using my analyst
discretion I have chosen to confine them to this footnote.
Sunrun’s bid in ISO-NE’s forward capacity market
yields groundbreaking results
19. woodmac.com
The future of DERs in wholesale markets
FERC Order 841 provides a signpost for how FERC
may set the bar for DER aggregation
20. woodmac.com
Source: Wood Mackenzie Power & Renewables
FERC Order 841: Timeline from NOPR to implementation
In November 2016, FERC released a
notice of proposed rulemaking
(NOPR) on integration of energy
storage and aggregation of distributed
energy resources into wholesale
electricity markets.
In February 2018 FERC unanimously
approved Order 841, which had few
substantive changes from the
proposed rules issued under the
earlier NOPR, with the exception that
the second part of the order, involving
aggregation of distributed energy
storage resources, was tabled for
future discussion.
In May 2019 FERC denied rehearing
requests and upheld the December
2019 time frame.
21. woodmac.com
FERC Order 841 compliance requirements
The foundational elements of the order were designed to ensure a level playing field for storage
FERC Order 841 requires ISOs and regional transmission organizations (RTOs) to modify their participation rules to ensure
energy storage is eligible to participate in all organized electricity markets. The new rules, comprising the four key areas
highlighted below, ensure that storage will be competing without a market handicap, as was identified by FERC.
22. woodmac.com
Strategies for resource definitions, the pathway to participation, vary dramatically
Multiple participation models remain the norm, creating a complicated and varied array of rules
Approaches vary in creating, changing, combining or splitting resource types to accommodate energy storage
Single resource definition:
• NYISO: Created Energy Storage Resource as a participation model, but some resources may be forced
to use the existing Energy Limited Resource (ELR) model, which is not directly in compliance with 841.
• MISO: Electric Storage Resource (ESR) will be created.
Multiple resource types:
• CAISO: Made a handful of compliance changes to its existing models
• PJM: Expanded on its Energy Storage Resource (ESR) and Capacity Storage Resource (CSR)
participation models.
• SPP: Created Energy Storage Resource (ESR) and Market Storage Resource (MSR)
On the fence:
• ISO-NE: Use cases are split into Binary and Continuous storage types, along with the existing Alternative
Technology Regulation Resource (ATRR), but the newly defined Electric Storage Facility is designed to
be able to participate as both.
23. woodmac.com
Eligibility for aggregated resources
• FERC’s initial notice of proposed rulemaking included aggregation, but tabled
• Initial interest suggests eligibility and “level playing field” a priority.
A technology agnostic approach
• FERC has repeatedly shown a desire to not “pick winners”
• Diversity of offerings may make this difficult
Hard pressure on ISOs for complete and timely implementation
A range of approaches varying by ISO
• FERC is comfortably with top-down mandates but bottom-up implementation
• Regulatory variety will be the name of the DER aggregation game
What lessons can we learn from FERC order 841?
If the aggregation question plays out similarly to storage it will be good news for DERs
25. woodmac.com
Even in the Favorable Case, Capacity Revenue Alone Likely Cannot Sustain a Project
Source: Wood Mackenzie Power & Renewables
Capacity Market Internal Rate of Return by Installation
Year, High Case
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
12%
2017 2019 2021 2023 2025 2027
InternalRateofReturn
Year of First Capacity Payment
MISO High ISO-NE High NYISO High PJM High CAISO High
Source: Wood Mackenzie Power & Renewables
Capacity Market Internal Rate of Return by Installation Year,
Low Case
-16%
-14%
-12%
-10%
-8%
-6%
-4%
-2%
0%
2017 2019 2021 2023 2025 2027
InternalRateofReturn
Year of First Capacity Payment
MISO Low ISO-NE Low NYISO Low PJM Low CAISO Low
26. woodmac.com
$0
$2
$4
$6
$8
$10
$12
$14
$16
$18
CAISO 2016 CAISO 2017 ERCOT 2016 ERCOT 2017 SPP 2016 SPP 2017
ClearingPrice($/MWh)
Reg Up RegDown
Single-revenue systems are unlikely to pencil out, which means full participation is the key barrier
Source: Wood Mackenzie Power & Renewables, ISO Data
Average Regulation Clearing Price – ISOs with Up/Down
Signals, 2016 and 2017
$0
$5
$10
$15
$20
$25
$30
ISO-NE MISO NYISO PJM
ClearingPrice($/MWh)
Regulation 2016 Regulation 2017
Source: Wood Mackenzie Power & Renewables, ISO Data
Average Regulation Clearing Prices, Combined Signal ISOs,
2016 and 2017
IRRs range from 10%+
(ISO-NE) to -2% (MISO)
If participants can capture up and down revenue
IRRs fall in the 4-6% range
27. woodmac.com
0
10
20
30
40
50
60
70
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
AverageHourlyLMP($/MWh)
Hour Ending
CAISO
ERCOT
ISO-NE
MISO
NYISO
PJM
SPP
Energy Arbitrage Opportunities Vary by ISO – CAISO Stands Out
0
10
20
30
40
50
60
70
AverageHourlyLMP($/MWh)
Source: Wood Mackenzie Power & Renewables, ISO data
Average Hourly LMP by ISO – 2017
Peak hours range from 4 p.m. in ERCOT to 8 p.m. in
CAISO.
Early morning hours (2 a.m. to 5 a.m.) provide most daily
lows for effective charging.
CAISO’s curve is unique, including midday price lows and a
second peak in the early morning, both partially driven by
abundant midday solar.
Average Peak and Trough LMP Spread by ISO, 2017
28. woodmac.com
• CAISO’s unique price curve presents an opportunity for multiple
arbitrage charge/discharge cycles per day.
• CAISO’s morning peak is significantly smaller than its evening
peak, but the additional peak and trough can be captured by
systems up to 4 hours in size.
• Capturing both peaks raises potential daily arbitrage revenue for a
4-hour system to $150.84/MW, up from $131.53/MW when
discharging to meet only the afternoon peak, a difference of
$19.31/MW.
• If the cost of the additional cycle – which would vary based on the
system’s lifetime and degradation rate – is below this $19.31/MW
value, then it may make economic sense for systems already
participating in CAISO’s market to attempt to capture this
secondary peak
Unique system needs may drive DER participation in unexpected ways
CAISO LMP Curve, 2017 Prices, and 4-Hour Arbitrage
Dispatch Pattern
0
10
20
30
40
50
60
70
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
AverageHourlyLMP($/MWh),CAISO,2017Prices
Hour Ending
Charging
Discharging
29. woodmac.com
“Building” the future of DERs in wholesale markets
Will diverse ecosystems and environments once again
converge to a global efficient solution?
30. woodmac.com
DER implementation will continue to vary dramatically by region
Source: CAISO, ERCOT, ISO NE, MISO, NYISO, PJM, SPP
9%
3%
14%
5%
6%
15%
48%
40%
31%
3%
20%
2%
4%
54%
0%
3%
27%
16%
24%
48%
16%
8% 2%
2%
45%
3%14%
5%
23%
10%
51%
22%
6%
21%
36%
34%
19%
6%
5%
Natural gas
Coal
Nuclear
Renewables
Oil
Hydro
Other
Dual Fuel
31. woodmac.com
Demand side resources clear 3% to 10% of the market
…and this is just what participates in organized wholesale markets
Source: Wood Mackenzie Power & Renewables “US Wholesale DER Aggregation”
41%
35%
8%
5%
5% 4%
2%
32 GW
Manufacturing
Batteries
HVAC
Water
Heaters
Lighting
Misc. Loads
Generator
Growth opportunities
EV charging A lot of batteries
Connected home
Microgrids
Resource mix today
33. woodmac.com
Aggregate
• Distributed generation
• Energy Storage
• Demand-side
resources
Cement
• Software
• Competitive markets
• Physical and virtual
grid services
Water
• Incentives and
mandates
• Ensured eligibility
• Ease of operations
Making concrete – moving towards the “transitional” DER-heavy grid
Three main components needed to make concrete:
34. woodmac.com
Aggregate
• Distributed generation
• Energy Storage
• Demand-side resources
• New “generation”
technology – i.e. longer
duration storage
Cement
• Software
• Competitive markets
• Physical and virtual grid
services
• Bottom-up user
behavior adaptation
Water
• Incentives and
mandates
• Ensured eligibility
• Ease of operations
• “Next-level” state-level
resiliency and clean-
energy goals
Rebar
• Machine learning
optimization
• High-voltage
transmission
• Mobile energy
• ???
Reinforcing concrete – the “transformational” grid will build off the lessons learned
from the “transitional”
The fourth component reinforces concrete’s strength and compensates for its weaknesses
https://www.nyiso.com/documents/20142/6006612/BIC%20DER%20Market%20Design%20Presentation.pdf/9cdc8700-ab90-d741-c28d-0c29b3468807
For example, ESR Aggregations will be eligible to provide Spinning Reserve and 30- Minute Reserve whereas • A DER Aggregation with an ESR and a Generator will not be eligible to provide Spinning Reserve
In April 2019, NYSERDA announced changes to the Value of Distributed Energy Resources (VDER) value stack. Overall, these changes create greater certainty around the payment from different aspects of the value stack, which in turn will give financiers and investors greater confidence in solar-plus-storage or standalone storage projects taking the value stack, creating greater upside in the New York market.
Value stack changes apply to any projects that qualified after July 26, 2018. Changes to the value stack include:
Capacity (ICAP): Alternative 1 capacity values now based on published NYISO monthly prices using PV load curves to estimate expected ICAP contribution from fleet of distributed intermittent generation to determine number of kWh value should be spread over. Time window for Alternative 2 shifted to non-holiday weekdays from 2-7 PM from June 24 through August 31; this leads to a period of roughly 240 hours, a decrease from the previous 460 hours while in turn raising the compensation received in each hour. This new period is expected to better align with system peaks.
Demand Reduction Value (DRV): now paid on performance over a known peak window which provides greater revenue certainty. This portion of the value stack is based on an individual utility’s peak, and thus the window varies by utility, though every utility includes at least 5 afternoon hours from June 24 through August 31, thus aligning with ICAP Alternative 2. DRV rates and time periods are locked in for 10 years. Projects with dispatchable DER can opt out of the DRV and instead participate in a utility’s Commercial System Relief Program (CSRP), demand response programs that compensate based on response to an event call.
Locational System Relief Value (LSRV): shifts to a call system where utility will now have at least 10 call events per year with 21 hours prior notice and occur during the DRV window. Calls will last 1-4 hours with compensation based on lowest net kW output during the call window. A project that fails to respond to a call shall not be subject to any penalty. LSRV value and time period will be locked in for 10 years.
Market Transition Credit (MTC)/Community Credit (CC): paid to community DG projects, moving forward the MTC will be replaced by the CC. The CC is paid based on entire grid injection of a project regardless of the offtaker makeup (previously were stipulations requiring a certain proportion of small offtakers).
No changes were made to the Energy Location Based Marginal Price (LBMP) and Environmental value (E) portions of the value stack
Lining up windows for ICAP Alternative 2 and the DRV creates a significant opportunity for solar-plus-storage, as dispatchable resources will be able to maximize value stack remuneration for both of these options by aligning electricity injections to these periods. Furthermore, extending LSRV and DRV values to 10 years will allow that portion of the value stack to become more financeable thanks to greater revenue certainty over project lifetime. All told, these changes improve the case for solar-plus-storage under the value stack and create further upside in the New York market.
http://www.caiso.com/Documents/2018AnnualReportonMarketIssuesandPerformance.pdf
Average hourly provision of ancillary services from limited energy storage resources which includes batteries and other limited devices increased significantly during 2018, but remained low overall. Average hourly procurement from these resources for ancillary services increased from around 48 MW in 2017 to 113 MW in 2018, or about 4 percent of ancillary service procurement.
Annual Report Evaluating DR Participation Reveals a Year-Over-Year Uptick in Activity
http://www.caiso.com/Documents/Jan15-2019-2018AnnualDemandResponseReport-ER06-615.pdf