Smart Energy Voices - Episode 101

Smart Energy Voices - Episode 101

Heard at Net Zero Forum: What's Old, New, and Next for Hourly Carbon-Free Matching Products

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In this episode, we join experts during the opening session of the Net Zero Forum Spring for important updates on hourly carbon-free energy matching. The session, titled "What's Old, New, and Next for Hourly Carbon-Free Matching Products" and presented by Constellation, sheds light on the changing landscape of clean energy and the importance of hourly 24/7 carbon-free energy as a new industry standard.


You will want to hear this episode if you are interested in...

  • Defining hourly carbon-free matching (5:06)
  • Policy tailwinds and the future of clean energy procurement (7:15)
  • Customer perspectives and the evolution of the energy market (10:35)
  • The future of granular certificates and energy trading (16:00)

Defining Hourly Matching Products

Renewable energy supply does not always meet demand in real-time; the sun doesn't shine at night, and the wind doesn't always blow. To fully address gaps like these, we need market signals and demand that can redirect carbon-free energy supply to where it's needed most on an hourly basis.

This issue has sparked the creation of "granular certificates" — energy attribute certificates stamped with time and location data. The goal is to develop a market where people can easily find and buy the clean energy they need at any given time.

Policy and Market Developments

Regulations are speeding up the move to hourly matching. A recent federal executive order requires 100% clean energy procurement for government operations by 2030, with half of that energy being hourly matched. Additionally, one requirement of the proposed 45V hydrogen tax credit guidelines is hourly matching of the clean electricity used in production.

At the state level, policymakers are also looking more at changing the standards for renewable energy portfolios to require hourly purchases that are in line with customer loads. Maryland, for example, is considering a "clean power standard" with an hourly matching requirement in its decarbonization plan.

Adoption and Evolution

Large energy buyers are not waiting for policy to change before starting hourly matching strategies. For example, Constellation has already made deals with Microsoft to hourly match a data center in Virginia and with ComEd for the utility's own facilities.

LevelTen is also working with the Intercontinental Exchange (ICE) to open the first market for trading granular certificates in the second half of 2024. This will make hourly procurement easier for more buyers.

Looking to the Future

The use of hourly carbon-free matching products is a big step toward a more sustainable and efficient energy system as the energy industry continues to change. Providing market signals, letting precise energy sourcing happen, and making sure that policy frameworks are in line with customer needs will change the industry in a way that benefits both businesses and the environment.

Resources & People Mentioned

Connect with Brian Megali

Brian Megali leads the Clean Energy Policy team in the Public Policy group at Constellation. His team is responsible for providing power sector forecasting and analysis of existing and proposed environmental policies, climate change policies, market design initiatives, and policies designed to promote low- and emissions-free energy resources. Brian’s team also coordinates advocacy efforts at the state, regional, and federal levels.

Connect with Katie Soroye

Katie Soroye is VP of Granular Procurement Solutions at LevelTen Energy, the industry’s leading provider of renewable transaction infrastructure. She leads the business strategy and development behind LevelTen’s granular certificate solutions, designed to accelerate clean energy transactions and decarbonize at scale. A self-proclaimed energy nerd, Katie has worked in the energy industry for more than 15 years, including leadership roles at an investor-owned utility, B Corporation, and early-stage start-ups. Outside of work, Katie enjoys lots of R&R (reading and running) in Seattle.

Connect with Chuck Hanna

Chuck Hanna is the Vice President of National Accounts and Solutions Sales at Constellation. In this role, he leads a team of sales professionals in providing comprehensive energy solutions to commercial and industrial retail customers across the nation including two-thirds of the Fortune 100. This includes leadership and management of associations where Constellation is the endorsed energy supplier.

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