On September 27-30th, Velisa Li, Senior Analyst, Renewable Supply; and Avery Hammond, Analyst, Renewable Supply, attended Renewable Energy Markets (REM) 2021. The annual event (held virtually this year) serves as a meeting place for industry professionals who are looking to transform the global clean energy marketplace.
Organized by the Center for Resource Solutions and co-sponsored by the U.S. Environmental Protection Agency, the “REM brings corporate leaders, policymakers, and suppliers together to collaborate and guide the rapidly expanding market. Attendees explore emerging trends in policy, exchange best practices in renewable energy procurement and marketing, review the latest technology and market innovations, and help shape the future for renewable energy.”
Below, Velisa and Avery share their top three takeaways from the event, as well as what the renewable energy industry can expect around market trends as we head into 2022 and beyond.
Demand for renewable energy continues to grow in Eastern Asia as corporations push renewable procurement goals into their supply chains. This has been met with several pilot programs aimed at facilitating corporate procurement, including the potential expansion of market boundaries to increase access to renewable energy.
Renewable energy and environmental justice communities can and must work in tandem to ensure an equitable and just energy transition. Renewable energy buyers can leverage their positions to support environmental justice communities by:
- Engaging with communities as a partnership from the beginning of a project, or prioritizing partnerships with community-led projects
- Advocating for changes in policy, regulatory, and financing systems that can directly support community-led projects and initiatives
- Investing directly within community-led projects and sharing the benefits of new renewable energy projects directly with the community
Standalone battery storage could be a versatile tool to reaching 24/7 renewable energy or carbon reduction goals. However, doing so will likely be challenging or complex, as buyers may encounter difficulties such as how to track hours of low grid emission for charging, and high grid emission for discharging. Buyers looking to transact with battery storage may want to begin with co-located renewable energy and battery storage to simplify renewable energy tracking efforts.
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