Deployment of Deep Decarbonization Technologies Proceedings of a Workshop (2019) / Chapter Skim
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3 Low Carbon Electricity Generation
3 Low Carbon Electricity Generation
Pages 20-30
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From page 20... ...
introduced the three speakers: Mark Ahlstrom (NextEra Energy Resources and NextEra A nalytics) , Adam Goff (8 Rivers)
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The CEO of NextEra Energy has said publicly that solar and wind plus storage will be cheaper than coal, oil, or nuclear, without subsidies, and will be massively disruptive to the conventional fleet by the early 2020s. Favorable economics is being driven by declining cost curves for solar power, offshore and onshore wind, and especially four-hour battery storage for which cost has fallen dramatically as learning curves are aggressively pursued for the transportation sector (see Figure 3.1)
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He suggested that hybrid projects, such as tightly coupling storage with solar cells, will be particularly disruptive to the market, essentially creating a computer-controlled power plant. Ahlstrom highlighted that as we implement changes to the electric grid, we should rethink how equipment interacts with the grid and leverage our increased connectivity to optimize the response and behavior.
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The power cycle results in natural gas combustion with greater than 97 percent carbon capture, and is expected to provide power at a lower cost than a combined cycle natural gas power plant, and without pollution from nitrogen oxides, sulfur oxides, or particulate atter. The technology is currently at the commercial demonstration m phase with 45Q tax credits, and NET Power plans to license their technology.
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24 FIGURE 3.2 Allam-Fetvedt Power Cycle Schematic. SOURCE: Adam Goff, 8 Rivers, presentation to the workshop; from 8 Rivers Capital, LLC.
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PERSPECTIVES ON POLICY AND ECONOMIC CONSIDERATIONS OF DEEP DECARBONIZATION Abe Silverman, New Jersey State Board of Public Utilities Abe Silverman presented an 80-by-50 emissions reduction projection, and suggested that we cannot meet our decarbonization targets in the electricity sector even if we replace all coal generation with efficient natural gas combined cycle power plants. In fact, under a coal-to-gas scenario, CO2 emissions from the electric sector alone would exceed the CO2 budget
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Silverman sees a few essential products that will be provided by the grid of the future: renewables generating the base load of electricity, storage and controllable demand on the customer side to modulate loads, and fast-ramping natural gas power plants for periods of high demand and low supply. In conclusion, Silverman presented three policy options to encourage decarbonization of the electricity sector:
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. 27 SOURCE: Abe Silverman, presentation to the workshop; derived from EIA data by NRG Energy, Inc.
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is laid out in a whitepaper by economists at The Brattle Group, titled "How States, Cities, and Customers Can Harness Competitive Markets to Meet Ambitious Carbon Goals Through a Forward Market for Clean Energy Attributes," April 2019, prepared for NRG Energy, Inc. DISCUSSION The discussion covered a broad scope of topics related to low arbon electricity generation ranging from the economic implications c of decarbonizng the electric sector considering increased demand and i integration of renewables, to changes in the generation and balance of the grid system.
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. A participant asked if LCOE is a misleading metric, as it does not include integration costs, and if integration costs will rise nonlinearly as the electric grid starts incorporating more renewable energy generation plants.
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Additionally, the participant asked: what are the challenges and opportunities of installing solar panels on the built environment for on-site, efficient power generation and use? Silverman mentioned that in New Jersey, the existing solar rules greatly incentivize building solar on landfills and other disturbed land, and disincentivize solar on farms so as not to replace farming with solar energy generation.
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