Monthly Archives: March 2014

Climate Action is Turning Green to Gold for Californians

By Lauren Navarro and Emily Reyna

What would you do with extra cash? Starting this April, customers of California’s biggest utilities will experience first-hand how the state’s fight against climate change is actually paying off – in the form of real money.

Wait… real money? How does that work?

Source: Flickr/Mike Schmid

Source: Flickr/Mike Schmid

Yes. Millions of household customers of Pacific Gas & Electric, San Diego Gas & Electric, Southern California Edison, and other investor-owned utilities will automatically receive a “Climate Credit” twice a year through 2020 – every April and October – as a line item on their utility bill. This money comes from California’s cap-and-trade program, which holds the state’s largest emitters, including electric utilities, accountable for their climate pollution. With cap and trade, regulated companies must buy “allowances,” or permits, if they plan to emit carbon pollution –equivalent to nearly $1.7 billion to date. Now, part of this money is being returned to these utilities’ customers. For average Californians, the Credit will cover the slightly higher rates that cover California’s green transformation. But if you’re conscientious about your energy use – and are a below average energy user – your Credit will be a bonus for you. Read More »

Posted in Clean Energy, Climate, Energy Efficiency / Comments are closed

Conference on Clean Energy Financing Signals a Shift in Funding the Low-Carbon Economy

Source: eProGuide

Source: eProGuide

In 2010, I began working on financial policy at EDF. Our objective was to implement policies that would allow private sector companies to profitably deliver financing solutions to residential and commercial property owners footing the upfront cost of money-saving energy efficiency and clean distributed generation (such as rooftop solar) projects. While the residential solar market was already gaining steam at the time, most of the other markets had very limited momentum. But after attending the clean energy finance conference that EDF co-hosted yesterday with Citi, energy efficiency solutions provider Elevate Energy, and law firm Wilson Sonsini Goodrich & Rosati, it appears that the market for financing clean energy projects is beginning to accelerate rapidly.

The agenda featured 12 private companies from the clean energy sector (Kilowatt Financial, Clean Power Finance, Renovate America, AFC First Financial Corp., Renewable Funding, Clean Fund, Joule Assets, Noesis Energy, SCIEnergy, Metrus Energy, Hannon Armstrong, and Honest Buildings), plus a few more in the audience, that are executing a wide range of transactions using Property Assessed Clean Energy (PACE), On-Bill Repayment, Energy Services Agreements (ESAs), and many other innovative techniques to fund the transition to a low-carbon economy. Read More »

Posted in Energy Financing, Grid Modernization, Investor Confidence Project, New York, On-bill repayment, Renewable Energy / Read 1 Response

Women in Power: Leading the Way to a Clean Energy Economy

WIPThis is the first in a series of posts about leading women in the power, environmental science, advocacy, policy, and business sectors.

Pull back the curtain on climate leadership, and you’ll see women in power. From the author of the country’s leading clean car standards, to the top administrator of the most ambitious climate policy in the nation (California’s AB32), to the scientists and entrepreneurs developing and deploying the advanced technologies driving the nation’s low-carbon economy, women are taking charge of the clean energy sector like never before.

Women have always been on the frontlines of our country’s toughest environmental challenges — including Rachel Carson, who galvanized the country with her exposé of pesticides in Silent Springand Hazel Johnson, the ‘Mother of the Environmental Justice Movement,’ who fought against toxic dumping in her own Southeast Chicago community.

But women have not always dominated the energy sector.  Read More »

Posted in General / Read 1 Response

Gigafactory Proves that Tesla is Ahead of the Clean Energy Curve, But Does Texas Stand to Benefit?

Source: Texas Public Radio

Elon Musk, Tesla CEO, speaking to Texas Legislature in 2013. Source: Texas Public Radio.

Disruptive technologies tend to follow a certain trajectory. First, they are outliers, often ignored, and typically on the cusp of never entering the market. But, for the successful ones, a tipping point is ultimately reached, after which the technology goes viral and changes the status quo it was designed to replace. In the new energy revolution, Tesla is one such company that has surpassed the tipping point and threatens to change the way we produce, distribute, and consume electricity.

It isn’t just Tesla’s sleek and beautiful electric vehicles that will be key to disrupting the status quo. At a current price point of around $80,000, most people en masse won’t be able to afford a Tesla, even though the company has plans to develop more affordable models. But what makes Tesla unique, besides the strange genius of CEO Elon Musk, is the potential diversification of its offerings, highlighted recently by the company’s announcement to build the GigaFactory, a $5-billion battery factory that will employ 6,500 workers.

Set to open in about three years, the new GigaFactory will be large enough to manufacture more lithium-ion batteries than the entire industry produces now, and due to its sheer scale, is expected to reduce the cost of batteries by almost one-third. Read More »

Posted in Electric Vehicles, Energy Storage, Grid Modernization / Tagged | Read 1 Response

Transitioning to a Clean Energy Future Will Require Lots of Private Capital, but How Do We Get There?

Source: 401(K) Flickr

Source: 401(K) FlicThe past two decades have seen a tremendous growth in our understanding of the climate change imperative and in the enormity of the challenge that confronts us. It has become clear that meeting climate change mitigation objectives will require the aggressive deployment of clean energy technologies, substantial amounts of capital, and creative methods of engaging that capital around these activities.

Transitioning to a low-carbon economy costs money (and lots of it). In fact, the International Energy Agency has estimated that $10.5 trillion will be required between 2010 and 2030 to fund this transition worldwide. Given the continuing challenges confronting global economies, the bulk of the capital needed to transition to this clean energy future will, by necessity, be private capital. As a result, creative financing solutions are essential to engaging and unleashing private, institutional capital, and accelerating the flow of those funds toward clean energy projects.

But the question of how to most effectively unlock the enormous amounts of capital necessary to pay for our transition to a low-carbon economy still remains. Read More »

Posted in Clean Energy, Climate, Energy Efficiency, Energy Financing, Investor Confidence Project, On-bill repayment, Renewable Energy / Tagged | Read 1 Response

New Jersey to Make Grid Smarter, More Flexible with Energy Storage

Source: Carbon Cycle 2.0

Source: Carbon Cycle 2.0

Energy storage devices that collect electricity at times of abundance and deliver when demand is greatest are essential to upgrading our outdated power grid to a smarter, more flexible electricity system. New Jersey took a positive step toward implementing more energy storage earlier this year when its Office of Clean Energy released a proposal to allocate $2.5 million for incentives that would encourage more energy storage use. EDF recently took the opportunity to comment on the proposal, highlighting the ways in which energy storage can deliver added resiliency, environmental benefit, and flexibility.

Energy storage could be critical in next storm

Energy storage can help stabilize a power grid, which is particularly important in a place like New Jersey where Superstorm Sandy left a third of homes and businesses in the state without electricity, even five days after the disaster. Large-scale deployments of energy storage can reduce peak or high demand, when the dirtiest power plants are usually turned on, while smaller, community-scale energy storage, when paired with renewable energy like solar power, can keep the lights on when the electric grid at large goes down. Read More »

Posted in Clean Energy, Energy Storage, Grid Modernization, New Jersey, Renewable Energy / Read 3 Responses