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The Renewable Energy Outlook For 2019 And Beyond
When considering both the future of the planet and the future of both industry and human thriving worldwide, the renewable energy outlook is of paramount importance. Renewable energy is of vital concern simply because cultures worldwide consume energy as part of everyday life. Renewable sources of energy are of such great importance for two main reasons: Renewable energy sources, by definition, never deplete Renewable energy options provide a way for humanity to step away from environmentally damaging fossil fuels This conversation is an exploration into the renewable energy outlook for the near future, led by Smart Energy Decisions founder, John Failla. John speaks with Chris Fallon, Vice President of Duke Energy Renewables and Kyle Harrison of Bloomberg NEE about the future of renewable energy through the lens of varied approaches and ideas. You’ll receive a broad overview of the current state of the renewable energy industry, hear the challenges being addressed currently, and gain an optimistic perspective relating to what can be done to make renewable energy more available and useful in the future. And keep reading below to see some of the specific topics addressed in this conversation. Outline of This Episode [2:20] Why a tangible commitment to sustainability goals is the first step for companies [5:15] What’s happening with companies regarding ESG investing and Green bonds? [9:18] The economics of renewable energy: a double-edged sword [13:18] Community Solar: the opportunities and challenges [16:38] The future of large scale virtual Power Purchase Agreements [22:22] Utility green tariff programs: what’s the future? [27:33] Retail supply products in the renewable energy outlook [30:56] Are there opportunities to integrate RE procurement with other initiatives? [33:00] What might accelerate or slow the growth of renewable energy? The renewable energy outlook relies heavily on companies Companies, both large and small, are by far some of the largest consumers of energy worldwide. That means if companies make a commitment to renewable energy use rather than traditional fossil fuel use, the renewable energy industry will take a giant step forward. As of 2018, 42% of companies have stated both renewable energy and greenhouse gas reduction goals. Today, just over 190 companies have set target dates by which they intend to offset 100% of their energy consumption with renewable energy. Those are promising facts, which will require aggressive emissions reduction steps - and buying clean energy is one of the best ways to do so. Listen to hear the stories of companies that are striving toward their renewable energy goals and to understand the challenges they face in doing so. The economics of renewable energy: a double-edged sword Two of the most obvious and in-demand sources of renewable energy are wind and solar. Costs have come down in both of those branches of the industry, which has made clean energy more attractive for corporate buyers. But though the low cost makes renewable energy very attractive, there are difficulties to be overcome. Kyle Harrison refers to this conundrum as a double-edged sword. Both wind and solar operate at zero marginal cost - which means that in some markets there is an over-saturation of renewable energy produced by solar or wind generation. When this happens, prices are depressed, which in turn decreases the profitability of the installations generating that power. When that’s the case, it makes signing energy procurement deals in those particular markets that work financially for both provider and consumer, difficult at best. In this conversation, you’ll also learn how some corporate customers are looking at renewable energy as a risk mitigation play - taking advantage of the tax incentives offered by the government for using renewables by trying to lock in the benefits of low rates for a longer period of time. The opportunity of community solar When we talk about “Co
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