The Interchange: Recharged Wood Mackenzie

Insight and analysis from the second day of the Solar & Energy Storage Summit 2024.

Day 2 of the 2024 Solar and Energy Storage Summit and the conversation was still in full swing. David Banmiller was there once again to capture all the debate and discussion on the future of the solar energy sector. 

Electrification is at the heart of the energy transition. There’s been a sharp rise in grid connection capabilities in the last couple of years, and it’s causing a headache for the industry. Permitting queues are long, and connection charges are high. What needs to change to ease these? 

Kelly Snyder is Senior Director, Origination, at EDP Renewables. She joins David to discuss it, as well as the latest trends in solar PPAs.

What’s the future of US electricity demand? Data centres, EV infrastructure and widespread electrification are causing a surge in demand, so how much is going to be met by green energy? Leuwam Tesfai is Deputy Executive Director for Energy and Climate Policy at the California Public Utilities Commission. She spoke to David about California’s plans to secure solar and storage supply chains to ensure there’s enough clean energy to meet demand. 

Plus, conversations with Oscar Araujo, General Manager for North America at Canadian Solar, and Shaun Laughlin of Solaris Energy, on mitigating climate risk and clean energy finance. Connection bottlenecks and possible solutions to the problem, PPAs, solar and storage technology and trends in funding and finance: it’s all here on our recap of day 2 of the summit.

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For more information from our sponsor Convergent Energy and Power on their industry-leading battery storage and solar solutions, please go to convergentep.com

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Insight and analysis from Day 1 of the Solar & Energy Storage Summit 2024

The 2024 Solar and Energy Storage Summit from Wood Mackenzie kicked off in San Francisco this week. David Banmiller was there to capture all the debate and discussion on the future of the solar energy sector. If you couldn’t be there in person, we’ve got you covered. David is joined by a roster of expert analysts and industry leaders to explore the key topics. It’s a packed show, with conversation around the technology, policy and financing of the solar industry. 

There’s over a terawatt of solar, and gigawatts of storage in interconnection queues around the US. If all of that was built today, we’d have all the solar and storage we need to decarbonise the grid. How are these bottlenecks being eased? Why are projects taking years to complete? Becca Jones-Albertus, from US Department of Energy, joins David first on the show to discuss it, and analyse the latest advanced solar tech. 

 Plus, what impact has the IRA had on the industry? Cassidy DeLine is CEO of Linea Energy, and she argues that there are three clear wins from the historic bill. David gets a new perspective on financing for projects from Kelsey Clair, Director at NY Green Bank, and a look at storage technology and government policy with Mike Graveley from the California Energy Commission.

 Finally, it wouldn’t be an energy podcast in 2024 without a look at the integration of AI. Kendra Williamson is Senior Principal at Key Capture Energy, and she talks with David about the nuances of storage optimisation. 

Subscribe to the show so you don’t miss any of the analysis from the Solar and Energy Storage Summit. Find us on X – we’re @interchangeshow.

 

For more information from our sponsor Convergent Energy and Power on their industry-leading battery storage and solar solutions, please go to convergentep.com

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Increased energy demand is inevitable. How do make sure the grid can cope?

We’ll likely need a grid twice the size it is today. And balancing supply and demand in the years ahead will require a smart approach.

Transmission capacity is one of the most important things to address as we accelerate the energy transition. Achieving net zero by 2050 will require an upgrade and expansion of the grid, in the UK and US. So how do we do it?

David Banmiller is joined by Ben Wilson, Chief Strategy and Regulation Officer at National Grid, to analyze the grid-enhancing technology and investment we need to see deployed. Together they discuss the path to a smarter, more advanced grid.

Ben highlights the need for policy support as well; streamlining permitting processes is crucial.

In this episode, find out how National Grid is planning and investing in new infrastructure, the approach to finding and investing in the latest tech, and the importance of dynamic line ratings in managing energy demand.

About National Grid

National Grid is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York and Massachusetts. National Grid is focused on building a smarter, stronger, cleaner energy future — transforming our networks with more reliable and resilient energy solutions to meet state climate goals and reduce greenhouse gas emissions.

Catch up on the latest episodes of National Grid’s podcast, The Clean Energy Revolution, which explores the people, policies, and projects that are leading the transition to clean energy.

For more information, please visit nationalgrid.com

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Can innovative new lithium extraction methods prevent a supply chain crisis?

New lithium extraction methods are essential to meet the rising demand driven by EVs and grid storage. Traditional methods are time-consuming, geographically limited, and in some cases environmentally damaging. The concentration of lithium mines worldwide has implications for the supply chain; the fewer producers there are, the higher the likelihood of disruption. Lithium often travels tens of thousands of miles, so reducing these scope 3 emissions is critical.

Xerion is a company who are trying to address this issue. John Busbee is Founder and CEO, and he chats to David about Xerion’s development of new lithium extraction techniques.

Xerion are also developing methods to create newer, more efficient batteries with the lithium they extract. Paul Braun is the Director of the Materials Research Laboratory, and Professor of Materials Science and Engineering at the University of Illinois. He also joins the show, and says there’s no escaping lithium as a key component for EVs and batteries, so the question is how to mine it efficiently and with minimal environmental impact.

New techniques in extraction and battery production promise to reduce CAPex by two-thirds and emissions by 40%. How do they do it? Can these technologies make clean energy more accessible and affordable? David finds out. 

The Interchange will be at the annual Solar & Energy Storage Summit in San Francisco from the 12th of June. We’ll be recording some special shows from the event, with all the conversation and analysis on the solar sector in the US and beyond. Get your ticket at woodmac.com/events/solar-energy-storage-summit

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In the UK, the collaboration between banks and policymakers is crucial for accelerating the energy transition. The financial sector in the UK managed assets worth over 9 trillion UK pounds (11.3 trillion USD) as of 2020, with a considerable portion needing realignment towards sustainable investments to meet the 2050 net zero goal. The Climate Change Committee, an independent advisory board to the UK government, estimates 50 billion UK pounds, or US$60 billion per year, is needed to meet net zero goals.

Heather Buchanan is co-founder of Bankers For Net Zero, an initiative aiming to involve banks with governments to make better investment and policy decisions for the energy transition. One significant need for investment is the retrofitting of the housing stock; over half of the UK’s homes are old and inefficient. This a major challenge for banks. With host David Banmiller, Heather explores the financial implications of decarbonizing financed emissions from all banking products by 2050.

Plus, the importance of Energy Performance Certificates and measuring efficiency, the financial incentives to de-risk clean energy investments, and how B4NZ is working to engage banks, government and NGOs to drive us to net zero. Collaboration is crucial, but it’s a constant struggle.

For more information visit woodmac.com/podcasts. The Interchange is back at Wood Mackenzie’s Solar Energy and Storage Summit, in San Francisco on June 12. To secure your ticket visit woodmac.com/events/solar-energy-storage-summit.




In this episode:




00:00:08: Importance of collaboration between banks and policymakers for energy transition

00:00:43: About Bankers for Net Zero initiative

00:01:20: Discussion begins about financial community involvement in energy transition

00:01:35: Introduction and milestones of Bankers for Net Zero

00:04:19: Focus area for Bankers for Net Zero

00:06:06: Challenges faced in housing issue and retrofit issue

00:08:33: Introduction to National Retrofit Hub and role of energy performance certificate

00:10:40: Ideas to de-risk financial burden of energy efficiency

00:12:24: Coordinating energy efficiency on a larger scale

00:14:41: Importance of convincing constituents

00:15:22: Role of communities in the energy efficiency transition

00:16:20: Designing policy to support the energy efficiency efforts

00:18:01: Importance and issues of EPC in retrofitting

00:20:00: Balancing energy security and costs

00:23:35: The Role of Financial Institutions & SME's

00:25:50: Changes to GHG Protocols

00:27:04: Introduction to Project Perseus

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Estimates for the cost of decarbonising could be inaccurate. What does that mean for investment and policy-making?

About $1.2 trillion is invested annually in climate technology and infrastructure worldwide, with significant portions allocated to China due to its accelerated decarbonization goals. However, experts argue that about $9 trillion could be needed annually to effectively counter climate change, indicating a substantial gap in current funding​. Debate continues over the economic feasibility of such costs, to the detriment of progress, but what if the cost was actually far less? RMI, the research and clean energy advocacy group, says that this may indeed be the case. These forecasts could be overinflated by trillions of dollars. If that’s true, what will it mean for investors, markets and policy? 

Host David Banmiller is joined by Dan Goldman, managing partner at Clean Energy Ventures, a VC that funds startups developing early stage breakthrough technologies. He says the there’s a significant investment shortfall – regardless of the total cost of decarbonising – currently to stabilise global temperatures. He discusses a downturn in venture capital investments in climate tech, particularly affecting early-stage companies and innovation in new technologies. Challenges remain in scaling up clean energy technologies due to a combination of high interest rates, inflationary pressures, and supply chain disruptions, which increase costs and complicate project implementations.

There's a specific shortfall in investment for infrastructure necessary for large-scale renewable energy implementations, like wind and solar, which are essential for a robust energy transition. David and Dan discuss how this could be addressed, and analyse the current economic environment, characterized by high costs and uncertain returns.  

Is it these barriers that are hindering significant capital flow into this sector, or the forecasted cost for decarbonising global energy systems? How can global financial strategies be adjusted to accelerate the necessary investments in clean energy and technology? Find out on the show.

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