An REC (Renewable Energy Certificate) is a market-based instrument that represents the property rights to the environmental, social, and other non-power attributes of renewable electricity generation.
Renewable generation in PJM has been increasing over the past few years and will play a larger role in the market’s resource mix going forward. Coal-fired capacity is retiring at a rapid pace, and the interconnection queue is heavily comprised of renewable capacity. There is approximately 133 GW of utility-scale solar, wind, and offshore wind projects with queue positions in various stages of development.
Today, ESAI Power, a market research and consulting firm, announced the immediate availability of its Renewables WatchTM Service which provides Class I REC (Renewable Energy Certificates) Price outlooks to 2030 for the ISO-NE & PJM power generation and transmission systems and the Supply & Demand Balance forecasts for the NYISO power generation and transmission system.
In today’s Transmission WatchTM report, ESAI Power analysts assess the NYDPS report on the power grid mandated by the Accelerated Renewable Energy Growth and Benefit Act. Our analysis looks at the need for coordination between renewables and energy storage deployment. This will have implications on the competitive market structure in the NYISO.
ESAI Power LLC
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ESAI Power is a market research and consulting firm that delivers focused analysis of the wholesale power markets in the Northeast region of the US: PJM, NYISO, and ISO-NE. Since 2001, ESAI has been providing market-focused research product content and custom consulting services for Northeast power market participants including investors (banks, private equity, & hedge funds) & developers, generation owners & operators, utilities & retail electricity suppliers, regulators & RTOs, traders, and end-users & buyers.