Major US energy buyers projected to acquire 17 TWh of hourly renewable energy certificates by 2026: survey
Summary
The survey focused on 18 large energy buyers already engaged with the GC Trading Alliance or its members, each with annual load in excess of 1 GW per year. Half or respondents also said that GC pricing and budget constraints represented a concern within their organization, but Soroye said its still too early to say what the new energy certificates will cost. The theory behind the granular certificates is that having an ability to buy and sell energy attributes on an hourly basis should eliminate the need to over-procure power purchase agreements or RECs to offset a companys emissions profile, according to Soroye. That should make renewable energy procurement more efficient, but what it will cost to buy GCs that cover overnight hours or other difficult generation gaps remains unclear, she said. More than a third of survey respondents also expressed concerns about the limitations of tracking and reporting accurate emissions and generation data on an hourly basis, which Soroye acknowledged is an area that the GC Trading Alliance continues to troubleshoot.