Dive Brief:
Policymakers should use tax incentives and more flexible interconnection rules to encourage development of hybrid projects combining renewable energy production and storage, according to a panel at the Clean Power 2021 conference hosted by the American Clean Power Association.
According to projections from U.S. Energy Information Administration (EIA), the U.S power grid will have an estimated 59 GW of battery storage by 2050. In the near term, a significant amount of that will be part of hybrid projects with renewables, as EIA data shows that paired sites will increase from 19 installed in 2016 to more than 100 by the end of 2023.
Dive Brief:
As Michigan weighs the best policy to comply with a federal order encouraging more electricity storage development, utilities urged the Michigan Public Service Commission (MPSC) to not allow electric storage resources to participate in the retail and wholesale markets simultaneously.
In comments filed with the MPSC, utilities DTE Energy and Consumers Energy Company each said that dual participation would cause confusion in the market and could allow some participants to avoid higher rates and shift costs onto customers. MPSC had sought comments on how the Federal Energy Regulatory Commission s Order 841, an effort to lower barriers to electric storage resources (ESR) in wholesale power markets, should be implemented in the region.
Highland Electric Transportation raises $253M to accelerate electrification of school fleets
Highland Electric Transportation, a provider of turnkey fleet solutions delivering the latest in zero-emission technologies to school districts and fleet managers, has raised $253 million to accelerate its growth. The financing was led by Vision Ridge Partners with participation by Fontinalis Partners and existing investors.
Highland reduces the complexity of going electric by providing customers a full-service solution of electric vehicles that are owned, powered, and maintained by the company. This all-inclusive transportation-as-a-service model is the simple and cost-effective way for districts to transition their fleets.
With technology solutions allowing vehicles to optimally charge and provide grid services, Highland is helping customers improve energy efficiency and resiliency.
Battery plants have established themselves in the sunny Southwest, but this week was the first time they won big in New England.
San Francisco-based developer Plus Power won two bids in the latest capacity auction held by the New England ISO, which operates the transmission grid and competitive power markets in six Northeastern states. That means that these two battery plants offered a compelling enough price to edge out some fossil fuel plants for delivering power on demand. And they did it without any help from federal tax credits because none of them apply to standalone batteries.
Plus Power now needs to build the plants: a 150-megawatt/300-megawatt-hour system near a cranberry bog south of Boston, Massachusetts and a 175-megawatt/350-megawatt-hour battery in Gorham, Maine. The seven-year capacity contracts start in June 2024.