September's Can't-Miss Clean Energy Stories

At LevelTen, we want important news and information concerning renewable transaction infrastructure (RTI), power purchase agreements, and new sustainability commitments to be easily accessible to everyone. Each week, we assemble the stories that matter most in our “RTI Weekly” newsletter, which you can subscribe to here. We’ve collected September’s biggest stories below.

Renewable Energy News

White House Calls for Solar to Provide Half of U.S. Power by 2050

The Department of Energy has outlined how solar energy can grow to power 40% of the United States’ electrical grid by 2035, and 45% by 2050 — up from just 3% today. The plan would require yearly solar additions to double annually between now and 2025, and quadruple year-over-year between 2025 and 2030. Falling solar costs and supportive policies including tax incentives will need to continue, paired with significant investments across industries, to meet such a target. If achieved, the 2050 target would see 1,600 GW of new solar capacity, and create as many as 1.5 million new jobs. (CNBC)

Some Chinese PV Suppliers Stop Shipping to U.S.

Some Chinese solar panel manufacturers have stopped sending panels to the U.S. because of concerns over proposals to impose higher import tariffs, after a petition filed by a group of U.S. PV component manufacturers. Multiple U.S. solar developers have paused construction of solar projects, as Markus Wilhelm, CEO of Strata Solar explains “We are not able to get any obligations going forward for any of the projects that we already have under construction.” U.S. manufacturers say they have been harmed by unfair competition from Chinese PV suppliers, claiming they have set up limited operations in Vietnam, Malaysia, and Thailand to circumvent existing tariffs imposed by the U.S. on China, while most of the production remains in China. The U.S. Commerce Department has delayed its decision on whether or not it will impose new duties on the three Southeast Asian countries in question in order to ask the anonymous group of U.S. solar producers for additional information. (Washington Post)

Solar Prices Rise For First Time Since 2014

A recent report from Wood Mackenzie and the Solar Energy Industries Association (SEIA) has found that second-quarter prices for utility-scale solar have increased 6% year-over-year. Supply chain constraints like rising shipping costs, as well as increasing steel prices, have been primary drivers of the cost increases. Prices will likely remain elevated through the rest of 2021, but are expected to resume their decade-long downward trend in 2022. (Utility Dive)

Illinois Passes Major Climate Bill

The Climate and Equitable Jobs Act (SB2408) has been signed into law in Illinois. In addition to equity, transportation, and energy efficiency measures, the bill will require Illinois to achieve a 100% zero-emissions power sector by 2045, and to grow renewable generation by more than five-fold. Specifically, the state will aim to produce 40% of its electricity from wind and solar by 2030, and 50% by 2040. (NRDC)

PJM’s New “Focused” MOPR Takes Effect

A revised, “focused” MOPR has taken effect in PJM as of September 29th following a stalemate on the matter between FERC commissioners, bringing an end to one of the most anti-renewables regulations in recent memory. The new proposal relaxes the original minimum price offer rule, which obstructed renewable developers looking to bid into PJM’s capacity market. PJM has asked FERC for permission to delay its upcoming capacity auction from December 1 to January 25 to provide time to review the new MOPR, as well as other new pricing mechanisms. (Utility Dive)

 

PPA Signings

Lululemon Enters Texas Wind Agreement

Athletic apparel company Lululemon has entered into a PPA, facilitated by LevelTen Energy, with developer Enel for 15 MW of capacity from the Azure Sky wind+solar project in Throckmorton County, Texas. (Energy Capital Media)

Johns Hopkins Health System Enters Solar PPA

The Johns Hopkins Health System Corporation has entered into a PPA, facilitated by LevelTen Energy, with developer Energix for 13 MW of solar capacity from the Hollyfield II project located in King William County, Virginia. (Environmental+Energy Leader)

REWE Signs North Sea Offshore Wind Offtake

German food retailer REWE has entered into a 10-year PPA with Ørsted for 100 MW of capacity from the 900 MW Borkum Riffgrund 3 offshore wind farm being developed in the North Sea. (Ørsted)

Toyota Signs Mississippi Solar Agreement

Toyota Motor North America has entered into a PPA with Clearway Energy Group for 80 MW of output from the 100 MW Wildflower Solar project in DeSoto County, Mississippi. (Toyota)

Clean Power Alliance Enters Solar+Storage PPA

Los Angeles-based electricity provider Clean Power Alliance has entered into a 15-year PPA with EDF Renewables North America for 300 MW of solar capacity, paired with 600 MWh of battery storage, from the Desert Quartzite Project in California’s Riverside County. (PV Magazine)

 

Recent Sustainability Commitments

The Climate Pledge Announces 86 New Signatories

86 new signatories, including Nespresso, P&G, HP, and Salesforce, have joined The Climate Pledge, committing to achieving net-zero carbon by 2040. The Climate Pledge now has more than 200 signatories. (Amazon)

PepsiCo Launches Pep+ Sustainability Initiative

PepsiCo has launched its “pep+” initiative, which will act as a cornerstone for PepsiCo’s business decisions moving forward as it works to achieve net-zero emissions across its value chain by 2040. (Smart Energy Decisions)

Procter & Gamble Outlines 2040 Net-Zero Commitment

Consumer goods company Procter & Gamble has announced plans to accelerate its transition to net zero, and is now aiming to reduce operational emissions 50% and supply chain emissions 40% by 2030, en route to achieving net-zero emissions by 2040. P&G has also joined the UN’s Race to Zero campaign. (P&G)

DuPont Joins RE100

Chemicals company DuPont has joined the RE100 initiative, committing the company to achieving carbon neutrality by 2050. DuPont is working to source at least 60% of its electricity from renewable sources by 2030. (PR Newswire)

Marriott Announces Net-Zero Ambitions

Hotel giant Marriott International has announced its commitment to working with the SBTi to set emissions reduction targets across all scopes, and will work to reach net-zero value chain GHG emissions by no later than 2050. (PR Newswire)

Would you like stories just like these sent directly to your inbox each Friday? Then be sure to subscribe to LevelTen Energy’s “RTI Weekly” newsletter so you never miss a beat! 

LevelTen Energy

LevelTen Energy is the leading provider of transaction infrastructure for the renewable energy economy. The platform delivers buyers, sellers, advisors, and financiers the automation software, data management, and standardized contracts needed to facilitate faster, safer renewable energy transactions. LevelTen’s marketplace of renewable energy power purchase agreements is the world’s largest, with more than 4,000 pricing offers spanning 21 countries in North America and Europe. LevelTen’s CFO-Ready Analytics™ automatically calculate more than a billion data points every day, providing buyers and advisors with leading-edge, real-time risk and value insights at modern market scale. Together, LevelTen and its partners share #OneGoal to accelerate the clean energy transition

Continue reading

Subscribe to the Acceleration Blog