February 8, 2018
A recent bidding process conducted by Xcel Energy has shocked the industry as clean energy bids including wind and solar with battery storage came in cheaper than bids from traditional fuel sources.
Seeking to replace two of their existing coal power plants with renewable energy sources, Xcel received over 430 individual bids. Comparatively, a similar bidding process in 2013 received 55 bids. This boom in growth, coupled with the low prices of the bids, highlights how quickly renewable energy has advanced in the last 4 years. For more in-depth information about the results of Xcel’s solicitation, please read this article from Vox.
Energy purchasing strategies involving renewable energy have been analyzed and implemented by Stanwich Energy when advising clients on their best option. The results from Xcel’s solicitation give further credence to Stanwich’s holistic approach to the energy markets. Sometimes it can pay to look at all available options instead of only the most common ones.
For more information on incorporating renewable energy into your portfolio, contact your Stanwich Energy representative.
Clean Energy Is Now Cheaper than Traditional Energy
February 8, 2018 A recent bidding process conducted by Xcel Energy has shocked the industry as clean energy bids including wind and solar with battery storage came in cheaper than.
January 3, 2018
New York Governor Andrew Cuomo has unveiled the newest version of his clean energy jobs and climate agenda. Highlights of the plan include:
–Increasing off-shore wind power production: The state plans to increase their wind power production through two solicitations in 2018 and 2019.
–Clean energy workforce development: NYSERDA will contribute $15M toward the training of workers in the clean energy field.
–Expanding the Regional Greenhouse Gas Initiative (RGGI): In 2013, 9 eastern states created RGGI with a goal to reduce power plant emissions by 50% by 2020. The initiative has been more successful than originally anticipated, so a new target has been added to reduce by an additional 30% by 2030.
–Energy transmission infrastructure investment: In an effort to more fully utilize solar and wind energy, the governor plans to create 1,500 MW of energy storage by 2025. This will allow the state to consume renewable energy at times when the sun is not shining and the wind is not blowing.
To read the agenda in full, please click here.
New York’s Governor Cuomo Unveils Newest Clean Energy Jobs and Climate Agenda
January 3, 2018 New York Governor Andrew Cuomo has unveiled the newest version of his clean energy jobs and climate agenda. Highlights of the plan include: –Increasing off-shore wind power.
December 19, 2017
New York City’s city council has approved a bill that will require buildings to publicly display the energy use at their property in the form of a letter grade. Similar to health inspection grades, the energy efficiency grade will be from A-F and will need to be prominently displayed at the building entrance.
To read the full press release from the city council, click here.
The grades will come from EnergyStar’s Portfolio Manager via data that is self-submitted every year by each building for Local Law 84, the city’s energy benchmarking requirement.
This bill makes New York City the first City in the U.S. to require public display of energy grades, although a few places in Europe have already enacted similar legislation. It is seen as a win for energy efficiency, and the hope is that this bill will help push the needle on the city’s goal for 80% greenhouse gas reduction by 2050.
New York City To Require Buildings to Post Energy Grades
December 19, 2017 New York City’s city council has approved a bill that will require buildings to publicly display the energy use at their property in the form of a.
October 22, 2017
PJM Interconnection, the group that is responsible for operating and maintaining the grid that delivers wholesale electricity to 13 states and Washington, D.C., has announced over $1 billion in upgrade projects aimed at improving grid infrastructure on the east coast.
The plan includes 32 projects ranging from a few million dollars up to about $200 million, and they will begin to be implemented in the beginning of 2018. Click here to be directed to the PJM website for a detailed list of the individual projects.
A good number of projects include increasing the voltage of the grid to 69kV. Generally, these upgrades have long-term cost benefits to customers, as a higher voltage grid requires less infrastructure and is easier to maintain. However, the short-term costs could also directly affect customers. To discuss these potential impacts, please feel free to contact us.
PJM Invests $1B in Infrastructure Upgrades
October 22, 2017 PJM Interconnection, the group that is responsible for operating and maintaining the grid that delivers wholesale electricity to 13 states and Washington, D.C., has announced over $1.
Aug. 2, 2017
Tribeca Associates has converted its utility usage at 30 Broad Street in the Financial District to 100 percent Green-e certified wind power, making the 85-year-old building energy efficient.
Tribeca Associates purchased the property last year and immediately embarked on an extensive repositioning program.
While the use of green power and energy efficient building methods have become well-utilized in new commercial and residential construction, owners of older buildings have been slower to adopt such conversions, citing the costs associated.
“Converting to ‘green’ energy sources was an important consideration as we planned the redevelopment of 30 Broad, and the timing was perfect to launch this initiative,” said Bill Brodsky, a founder of Tribeca Associates.
“As individuals, businesses and governments become more environmentally conscious, increasing use of renewable energy will pave the way for a more sustainable future. In no place can we make more of an impact than in existing buildings and infrastructure, which use so much of the city’s power resources.”
Stanwich Energy Advisors co-ordinated the conversion for all landlord-purchased power, which included the procurement of energy certificates to accommodate the approximately seven million kilowatt hours 30 Broad consumes per year.
As part of the program, funds from each purchase are placed in renewable energy bonds in upstate New York to promote the growth of green energy usage in New York City.
“It’s a beautiful thing when you can do well by doing good,” said John O’Connell, managing principal at Stanwich Energy Advisors. “By entering into a green power contract, Tribeca Associates took advantage of a very favorable buying opportunity and set an example for all New Yorkers to follow. It was truly a privilege to work on behalf of a visionary property owner.”
In addition to renewable energy, 30 Broad has also initiated an LED lighting retrofit throughout the building’s common areas and will soon introduce lighting and temperature controls aimed at reducing power usage when it’s not needed.
All new office build-outs at 30 Broad are energy efficient, and the property recently launched a comprehensive recycling program to ensure all waste is properly discarded.
Stanwich Helps Tribeca Associates Go Green At 30 Broad
Aug. 2, 2017 Tribeca Associates has converted its utility usage at 30 Broad Street in the Financial District to 100 percent Green-e certified wind power, making the 85-year-old building energy.
July 25, 2017 Approximately 78 miles of World War II-era transmission will be rebuilt in northern New York as part of a $440 million project to spur renewable energy development and help the state meet its 50 by 30 goal (50% of carbon emissions free electricity by 2030).
The project is expected to begin in 2019 and will several years to complete. Announced on July 21, 2017, the newly rebuilt transmission line, called the Moses-Adirondack Smart Path Reliability project, will be capable of transmitting up to 345 kV but will be operated in the near term at its current level of 230 kV.
Cuomo, said in a recent statement that the reconstructed line will be able to carry hydropower from the New York Power Authority’s St. Lawrence-Franklin D. Roosevelt hydro plant as well as zero-free emissions electricity from newly built wind farms and solar projects in the state to higher population areas.
“This critical upgrade will help strengthen our clean energy economy in every corner of the state, and help New York reach its nation-leading clean energy standard,” Governor Cuomo said. “By investing in the long-term sustainability of our state’s energy infrastructure today, we are helping to ensure New Yorkers will have access to a cleaner, greener future for years to come.”
In 2012, the governor released the New York Energy Highway Blueprint, looking for an investment in transmission to assist the flow of clean energy across the state’s power grid and contribute to a stronger wholesale energy market.
Many environmental proponents support the project. “A robust transmission network is essential for New York ‘s efforts to scale up and deploy renewable energy ,” Rory Christian, director of New York clean energy at the Environmental Defense Fund, said. “This will increase opportunities to develop clean energy sources throughout the state, and connect the downstate region to existing affordable electricity generated in upstate New York .”
To read more about this announce, please visit the official announcement site by clicking here
If you have any questions on how this news may impact the New York energy markets, please contact us!
Cuomo announces large grid project in New York for renewables
July 25, 2017 Approximately 78 miles of World War II-era transmission will be rebuilt in northern New York as part of a $440 million project to spur renewable energy development.