The Energy Storage Solutions Consortium will
develop a first-of-its-kind methodology to quantify the greenhouse
gas emissions benefits of stored energy usage
A group of leading organizations, including Meta, REsurety,
Broad Reach Power and others, has announced the formation of the
Energy Storage Solutions Consortium, a consortium to assess and
maximize the greenhouse gas (GHG) reduction potential of
electricity storage technologies. The group’s goal is to create an
open-source, third-party-verified methodology to quantify the GHG
benefits of certain grid-connected energy storage projects, and to
ultimately help add a tool for organizations to create credible
progress toward their net zero emissions goals.
Once approved by the third-party Verra through the Verified
Carbon Standard Program, the standard would be the first verified
methodology to quantify the emissions benefits of large-scale
energy storage facilities, and would provide valuable guidance such
as when to deploy stored energy to deliver maximum emissions
reduction benefits.
“At Meta, we are committed to accelerating the transition to the
carbon-free grid of the future, and large-scale energy storage is a
critical part of that transition. Having achieved 100% renewable
energy for our global operations, we are now looking to help move
the energy storage industry forward by addressing next-level
challenges and opening pathways that will help drive high impact
emissions reductions on the grid,” said Peter Freed, director of
energy strategy at Meta. “We are excited to launch this consortium
in partnership with these industry-leading organizations, who will
bring diverse perspectives and experience to the development of a
robust, transparent methodology.”
“We need to decarbonize the grid as quickly as possible, and to
do that we need to maximize the emissions impacts of all
grid-connected technologies - whether generation, load, hybrid or
standalone storage,” says Adam Reeve, SVP of software solutions at
REsurety. “Enabling this sort of decarbonizing activity is the
exact reason why we invested in developing high-resolution
Locational Marginal Emissions. Energy storage is a technology that
has huge potential, and we’re delighted to partner with industry
leaders in this forward-thinking and collaborative effort to
develop a global standard for energy storage benefits.”
“Battery storage will play an increasingly important role in
delivering reliable and affordable power to homes and businesses as
we move toward a 100% renewable energy grid. As the leading
utility-scale battery storage platform in the U.S., we’re looking
forward to working with other industry leaders to be able to
quantify the important GHG reduction benefits of large-scale energy
storage facilities and help organizations take climate action,”
says Paul Choi, EVP of origination at Broad Reach Power.
In order to calculate the GHG benefits of large-scale energy
storage facilities, the consortium will leverage locational
marginal emissions. This concept measures the tons of GHG emissions
displaced through the charging and discharging of energy storage
facilities on the grid at a specific location and point in
time.
In addition to steering committee members Meta, REsurety and
Broad Reach Power, the consortium includes a number of advisory
committee members. These advisory members include leading
technology companies, emissions data providers, investors, storage
developers and service providers, and non-governmental
organizations among others.
Members include:
3Degrees Group, Inc., Akamai Technologies, Clearloop,
Equilibrium Energy, Fluence, General Motors, GlidePath Power
Solutions, Habitat Energy, Hannon Armstrong, Jupiter Power,
Longroad Energy, Marathon Capital, Microsoft, Primergy Solar,
Quinbrook Infrastructure Partners, RES Group, Rivian, Rowan Digital
Infrastructure, Stem, Tabors Caramanis Rudkevich, TimberRock, UBS
Asset Management, and WattTime.
The Energy Storage Solutions Consortium is also partnering with
Perspectives Climate Group, the German consultancy dedicated to
helping its clients achieve net zero GHG emissions and to
developing practical solutions for accounting of emission
reductions from innovative climate-friendly technologies.
About Meta Platforms, Inc.
Meta builds technologies that help people connect, find
communities and grow businesses. When Facebook launched in 2004, it
changed the way people connect. Apps like Messenger, Instagram and
WhatsApp further empowered billions around the world. Now, Meta is
moving beyond 2D screens toward immersive experiences like
augmented and virtual reality to help build the next evolution in
social technology. about.facebook.com
About REsurety
REsurety is the leading analytics company empowering the clean
energy economy. Operating at the intersection of weather, power
markets and financial modeling, we enable the industry’s
decision-makers to thrive through best-in-class value and risk
intelligence, and the tools to act on it. For more information,
visit www.resurety.com or follow REsurety on LinkedIn.
About Broad Reach Power
Broad Reach Power is the leading utility-scale battery storage
platform in the United States. Based in Houston, Broad Reach is
backed by leading energy transition investors, EnCap Investments
L.P., Apollo Global Management, Yorktown Partners and Mercuria
Energy. The company owns a 21 GW portfolio of utility-scale battery
storage and renewable power projects across the U.S., giving
utilities, generators, and customers access to technological
insight and tools for managing merchant power risk so they can
better match supply and demand. For more information about the
company, visit www.broadreachpower.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220914005330/en/
Stacey Yip, Meta staceyyip@fb.com (650) 407-0610
Tara Bartley, REsurety tbartley@resurety.com (774) 232-1220
Morgan Moritz, Broad Reach Power mmoritz@piercom.com (512)
745-2575
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