The Rocky Mountain Institute (RMI) and its Business Renewables Center (BRC) have launched a software platform that aims to help buyers and developers of renewable energy projects better understand which locations are more likely to be economically attractive across deregulated electricity markets in the U.S.
Available to the 200-plus members of the BRC, the tool helps both buyers and developers of renewable energy projects build a more complete picture of wholesale electricity market economics, according to RMI. Some of the center’s corporate members include Bloomberg, Ebay, Facebook, Goldman Sachs, Harvard University, IBM, Microsoft, Walmart and Whole Foods.
RMI says the platform was built using publicly available data from market operators, a levelized cost of energy calculation and a proprietary algorithm to model hypothetical project revenue. BRC’s market analysis platform produces an estimated-value calculation for approximately 4,300 nodes – or grid connection points – across all seven U.S. independent system operators covering 39 states.
“Big business is proving its commitment to climate action and renewable energy on the world stage right now,” says Hervé Touati, managing director at RMI. “In 65 percent of the U.S., it’s possible to source wind and solar directly, but much like real estate, these renewable energy deals hinge on location, location, location. At the Business Renewables Center, we are working to educate business leaders with insights on economic value that help buyers and developers build better projects in ideal locations.”