Browsing by Author "Johnson, Timothy Lawrence"

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Open Access
A Financial and Policy Analysis of Small Photovoltaic Ownership for Investor-Owned Utility Customers in North Carolina
(2013-04-24) Kataoka, George
As a source of clean distributed generation, small solar photovoltaic (PV) systems for residential investor-owned utility (IOU) customers can yield significant benefits to their owners along with a cleaner energy mix, strengthened economy, and improved environment for all citizens of North Carolina. However, the major barriers to small PV investments on a larger scale remain the high upfront costs and poor return on investment. Yet, North Carolina has significant drivers, including declining costs and strong policy, that may make such investments more attractive in the future. This Master’s Project is split into two parts. Part I investigates the current policies and incentives that impact small PV investment decisions for IOU customers in North Carolina. Part II builds off the research gained from Part I in order to quantify the financial attractiveness of such investments for an average Duke and Progress Energy customer. Part II additionally performs scenario and sensitivity analyses to assess if and when certain factors can significantly alter investment decisions. The results of this project indicate that despite effective policies and incentives in North Carolina, small PV ownership is still a financially unattractive investment—the reference cases yield a net present value (NPV) of less than -$6,000 and -$8,000 for the Progress and Duke customer, respectively. Yet, the impact that such policies and incentives—namely the state and federal investment tax credits—have on these respective NPVs should not be overlooked as they effectively increase the NPVs more than twofold. At the same time, there are many opportunities to further improve the financial attractiveness of such investments, including improvements in net metering policies, the state’s Renewable Energy & Energy Efficiency Portfolio Standard requirements, and demand for Solar Renewable Energy Credits. In such manner, this report does not offer specific policy or financial recommendations. Rather, it is an in-depth analysis of existing policies and economic factors intended to provide both qualitative and quantitative insight for the benefit of small PV investors, the PV industry, and decision makers in North Carolina.
Open Access
A Review of the Massachusetts Regulated Waste Disposal Industries Focusing on Transportation Emissions
(2020-04-20) Wood, Stefanie
Transportation of regulated waste generates significant greenhouse gas (GHG) emissions. Reductions in the number of disposal locations in Massachusetts due to industry consolidation force wastes to be transported farther for proper handling, increasing vehicular emissions. Previous studies of freight emissions have focused on mitigating GHG emissions through technological modifications of vehicles, use of alternative fuels, and maximizing the efficiency of transportation routes through hub siting. This study tracks changes in CO2 emissions by focusing on changes in destination locations. By calculating distances and CO2 emissions from generation to disposal locations over a ten-year period, trends caused by disposal industry contraction are identified. This information is critical for planning how regulated wastes can and will be managed in the future to minimize CO2 emissions (a GHG mitigation priority) balanced against land use concerns.
Open Access
Algae and Coal: Turning Pollution Into Prosperity
(2010-04-30T20:31:58Z) McNamara, Patrick
Algae have long been researched as a potential source of biodiesel and biofuel because of their quick growth rate, simple inputs and ability to grow under environments unsuitable for many other plants. Using a Monte Carlo simulation, this analysis examines the circumstances under which an algae farm might become profitable now and in the future. The use of CO2 from fossil fuels, specifically coal-fired power plants, is potentially valuable for both the utility and the algae farm because algae require large amounts of CO2 for their high growth rates. My results show that the success of algae farms in the United States is currently unprofitable in the short and mid-term (five to ten years). Moreover their long term profitability is heavily dependent on the system design, fuel prices, location, the existence and increase of prices being placed on air pollutants such as CO2 and NOX, as well as successive scientific breakthroughs under reasonable assumptions.
Open Access
Algal Greenhouse Gas Mitigation for Coal-Fired Flue Gas
(2010-04-30T11:08:43Z) Zhu, Jingjing
CO2 emissions from coal-fired power plants in the US accounted for approximately 30% of the overall national greenhouse gas emissions in 2008. Coal will continue to dominate the electric power industry in the near future. Carbon mitigation for coal-fired power plants is an indispensible element of the climate change strategy. Algae culture is one potential pathway to mitigate the CO2 emissions from fossil fuel fired flue gas. This master project investigates the performance of integrating an algae facility into a 500 MW coal-fired power plant in the US. The analysis presents two major indicators of the performance: the Emission Rate (the CO2 emissions related to the production of per kWh electricity) and the Energy Cost (energy used to reduce 1 kg CO2 emissions). This analysis concerns diverse operation methods and algae culture means. Two generic scenarios, a 50% CO2 emissions reduction and a 1000 ha algae facility, are assumed. The results suggest that the former scenario requires a large algae infrastructure and other inputs, while the latter has little impact on the overall CO2 emissions. Under each scenario, the system that employs flues gas direct injection, raceway pond culture facility and nutrient recycling is the most efficient in terms of reducing CO2 emissions at the lowest energy cost. This study also proposed an improved practice with higher algal productivity, energy efficiency, and carbon-neutral nutrient sources. Energy Return On Investment (EROI) is calculated for several conversion technologies. The EROI estimates show that co-firing of algal biomass with coal results in the highest net energy output.
Open Access
AN ANALYSIS OF GREEN HYDROGEN TO AMMONIA MARKET OPPORTUNITIES
(2022-04-22) Gulati, Akash
Building off a previous internship with a large renewable energy company, this Masters Project analyzes the additional cost for conversion, transportation, and cracking of hydrogen to ammonia. Previous work for the client analyzed three additional hydrogen conversion and transportation pathways. All four pathways are summarized below. • Hydrogen compression, gaseous trucking, onsite gaseous storage • Hydrogen compression, pipeline transportation, onsite gaseous storage • Hydrogen liquefaction, liquid trucking, onsite liquid storage, vaporization • Hydrogen storage, ammonia generation, liquid ammonia trucking, onsite liquid ammonia storage, ammonia cracking back to hydrogen (analyzed here) This masters project found that the conversion of hydrogen to ammonia as a transportation pathway is never the cheapest option on a dollar per kilogram H2-mile basis. This is because the pathway requires many chemical and thermodynamic conversions, each with their own efficiency losses: generation of renewable electricity, electrolysis to generate hydrogen, the Haber-Bosch process to produce ammonia, ammonia storage, ammonia transportation, and subsequent cracking of ammonia back to hydrogen. In total the pathway analyzed in this MP has a 24% cycle efficiency. In addition to analyzing the ammonia conversion pathway, the client requested an analysis of the existing hydrogen and ammonia markets. Much of this Masters Project is devoted to developing a thorough understand of the many use cases, generation technologies, and transportation pathways for these two crucial molecules. Additionally, the client requested an analysis of the major players in the ammonia-based fertilizer market as a basis for a market entry strategy into this space. Research found that hydrogen can be made from renewable electricity, steam, coal, or almost any other energy source, each with its own level of associated carbon emissions. Hydrogen is used primarily for oil and gas refining, ammonia production, methanol production, steelmaking, transportation, and many other applications. Once made, hydrogen can be transported as a compressed gas in trucks or pipelines, as a liquid in trucks, or converted to ammonia for transportation. Ammonia is made by combining hydrogen with nitrogen using the Haber-Bosch process. The color (grey, green, blue, etc.) of hydrogen that is used is a large determinant of the carbon intensity of the ammonia produced. Ammonia is used primarily for fertilizer production, and to a lesser extent in the refining of oil and gas and the production of specialty chemicals. Once made, ammonia can be transported in gaseous pipelines, or liquefied and transported on trucks, barges, or ships. Most major ammonia producers have committed to decarbonizing their operations. This will require the use of green hydrogen to produce green ammonia as a feedstock. It is estimated that 15% of the global ammonia market will be served by green hydrogen by 2030. This represents a large opportunity for renewable energy companies such as my client. Ammonia manufacturing is also a highly concentrated market, with seven US manufacturers representing 70% of the total production capacity. Strategic analysis of the existing markets found that the two key market advantages for renewable energy companies are location and market growth. Renewable electricity is cheap in the areas where ammonia is currently made. This removes conversion and transportation costs from the Levelized Cost of Hydrogen calculation and allows green hydrogen to be more competitive, although still not at parity with grey hydrogen. Additionally, although currently nascent, the market for green ammonia is expected to reach $500 million by 2025 and $1.5 billion by 2050. As the market grows, renewable energy companies will have ample opportunities to sell electricity to ammonia producers. The two main market entry challenges identified in this analysis are competition from industrial gases manufacturers and the lack of national regulatory support in the form of carbon pricing. Industrial gases manufacturers currently own the customer relationships with ammonia producers and are expected to be very protective and cost competitive. Most the industrial gases companies have short term decarbonization plans that involve the implementation of blue hydrogen, and longer-term plans involving green hydrogen. Additionally, none of the states with high volumes of ammonia production currently have a carbon tax. This results in green hydrogen and ammonia being more expensive than the currently used grey hydrogen and ammonia. The client should begin their ammonia entry by developing small scale hydrogen off-taker agreements with large ammonia manufactures who are interested in green hydrogen. By bringing hydrogen production expertise in-house the client for this MP will be able to reduce the price gap between green and grey hydrogen and become a market leader in this emerging and quickly grown space.
Open Access
AN ANALYSIS OF RENEWABLE ENERGY, ENERGY EFFICIENCY, AND CARBON OFFSETS AT DUKE UNIVERSITY
(2015-04-24) Kazarov, Elena; Baehr, Ellis; Tan, Jing; Zhang, Yee; Brasovan, Ashley
Many universities globally are embarking on voluntary efforts to become climate neutral to combat global warming. In 2007, Duke University adopted a goal to be climate neutral by 2024. The Office of the Executive Vice President established the Duke Carbon Offsets Initiative (DCOI) in June 2009 to develop the University’s strategy for meeting its carbon offset goals. As the client for this report, the DCOI charged Duke’s Nicholas School of the Environment Masters team with preparing a purchasing guide to aid in its strategy. The paper analyzes the options considered by Duke to meet its carbon neutrality goals, which include: reducing on-campus emissions through improving energy efficiency; buying carbon offsets on the market; creating carbon offsets through local projects; purchasing Renewable Energy Credits; and developing renewable energy resources on-campus. The final product sets forth a recommended strategy to meet the carbon offsets goals, including a timeline of purchases and an overview of costs. Given the University’s role as an institution motivated by both financial and non-financial goals, such as education and economic benefits to the local community, combinations of purchasing options are presented in three portfolios: the cheapest portfolio, the portfolio yielding the greatest co-benefits to the community and university, and the portfolio balancing costs and benefits. The cheapest portfolio recommends energy efficiency through behavioral changes on campus; purchased methane capture offsets; and methane capture offsets generated through local projects. The balanced portfolio recommends on-campus renewable energy (a Duke-owned solar PV system); forestry offsets purchased from local vendors; and Green Source Rider renewable energy (an experimental program implemented by the Duke Energy utility designed to give non-residential, energy-intensive customers the option of offsetting some or all of their energy consumption from new load with renewable energy). The highest co-benefits portfolio recommends Duke-developed forest offsets and Duke-developed methane capture offsets. A sensitivity analysis examines potential changes in the policy landscape that would affect the purchasing decisions favorable to Duke, including a price on carbon; changes in the cost of renewable energy; and a federal Renewable Portfolio Standard.
Open Access
An Environmental and Economic Analysis of Converting Duke University’s Police Fleet to Alternatively Powered Vehicles
(2014-04-17) Culver, John
Despite contributing only a small portion of total campus greenhouse gas emissions (GHG), Duke University’s Police fleet serves as a visible platform for demonstrating progress toward the University’s commitment to be carbon neutral by 2024. However, before the fleet can be modernized, adequate vehicle replacements are needed. By working with the Duke University’s Police Department and Duke’s Sustainability Office, an in-depth analysis of fleet characteristics and officer needs was performed with the intention of identifying suitable alternatively fueled or powered replacement fleet vehicles. By focusing on minimizing lifetime costs, annual fuel costs, and lifetime carbon dioxide (CO2) emissions, multiple vehicles and technologies have shown the potential to reduce lifetime fuel costs by over $100,000 and lifetime GHG emissions by 200 tons.
Open Access
An Evaluation of Microgrid-Based Enterprise Viability
(2020-04-20) Singer, Timithy; Slaughter, Andrew
The global need to meet population housing needs through infrastructure development is at odds with the urgent necessity to mitigate the impacts of climate change. This investigation considers the relationships between built infrastructure and microgrid electricity supply by evaluating technologies that could provide economically-feasible and low- or zero-carbon development solutions. Existing and emerging building and microgrid technologies have significant potential to provide viable energy access solutions across multiple use cases and the potential to integrate well into financially attractive business models. Modular construction, or prefabrication, is an emerging construction technology demonstrating decreased costs and development timelines, with greater flexibility in deployment relative to traditional construction methods. Photovoltaic (PV) and battery storage technology mirror some of these aspects of deployment flexibility, while functioning as mature technologies with predictable financial parameters, especially within the context of microgrids. Evaluating these technologies through the lens of infrastructure costs, geographically specific time-of-use (ToU) rates, and stochasticity of demand and power generation will provide the foundations of financially-sound microgrid business models with insights towards feasibility. The results of this study indicate that microgrid-based business models are highly sensitive to capital cost variances, and the viability of these businesses is contingent upon a multitude of economic, technological, and policy factors.
Open Access
An Examination of the Technical-Economic Feasibility of Green Hydrogen Production From Solar Clipping Losses in Northern Chile
(2022-04-07) Klebanoff, Meagan; Villar Poblete, Nicolas
Over the past several years, Chile has sought to position itself as a leading country for green hydrogen production. This project analyzes the technical-economic feasibility of green hydrogen production from solar clipping losses in northern Chile. The target solar project falls under the Pequeño Medio de Generación Distribuido (PMGD) tariff category in Chile, which sets an injection limit of 9 MWac and results in solar clipping losses. We develop a financial model to analyze whether or not a green hydrogen pilot project at the solar plant is financially viable. Inputs include the estimated annual solar clipping losses (MWh), electrolyzer hydrogen production capacity (kg/MWh), and the estimated willingness to pay ($/kg) for green hydrogen from two domestic industries, mining companies and gas utilities. Our analysis indicates that the solar clipping losses business model does not produce enough hydrogen to offset the initial CAPEX investment based on the estimated prevailing green hydrogen prices in Chile.
Open Access
An Exploration of Uncertainties in Translating CO2 Emissions Data for the Evaluation of Private Investment Risk
(2016-04-29) Chin, Seunghee
Socially Responsible Investment (SRI) is a financial behavior that incorporates ethical, environmental and economic (SEE) risk criteria into private investment decision making. Investor demands for SRI has grown at a rapid pace in the last decade, tenfold in US alone with $6.20 trillion-worth of domiciled assets. However, as a priori links between some socio-environmental aspect of corporate activities and investment risk are yet explicitly identified, while more corporate entity-level environmental data are becoming available, some causal interactions of environment, social risks with investment risk are often too complex to define, significantly uncertain or else non-quantifiable. Using the expert elicitation (7 panels of experts from IFC, ADB, and private consulting and investment companies), this project explores how and what investment risks are actually perceived through environmental indicators; what and where spatial and temporal feedback mechanisms exist in the investment community in a way presumably different from the purely physical, natural environment. It also finds which corresponding investment behaviors would likely take place in response to their perceptions.
Open Access
An Inquiry into the Balance Between Federal and State Energy Policy in the Southeast
(2012-04-21) Jentgen, Matthew; Papazian, John
Many policies have been proposed to address America’s growing energy needs, but a broad-based compromise is often constrained by regional differences. It is important to highlight the regional benefits of potential energy policies that drive renewable generation. North Carolina enacted a renewable portfolio standard in 2007 known as the Renewable Energy and Energy Efficiency Standard (REPS). This was significant because a mandatory renewable energy requirement was passed through a state legislature in the Southeast for the first time and in a region where power markets are heavily regulated. Our energy modeling endeavor forecasts the results of other Southeastern states adopting a similar renewable portfolio standard, along with various levels of federal action. Our results indicate that a coordinated renewable portfolio standard throughout the Southeast could reduce wholesale electricity prices by $6 per megawatt hour and mitigate carbon dioxide emissions by 18 million tons in North Carolina relative to other policy alternatives by 2025. Our analysis utilizes two distinct energy models to evaluate the impact of federal and state energy policies. By incorporating the Department of Energy’s National Energy Modeling System (NEMS) and the AURORAxmp models, we are able to perform a robust scenario analysis that tests political ideologies, congressional action, and federal agency regulation. The results allow us to identify potential outcomes of renewable portfolio standards within the reality of an uncertain energy future.
Open Access
An Inquiry into the Balance between Federal and State Energy Policy in the Southeast
(2012-04-20) Papazian, John; Jentgen, Matt
Many policies have been proposed to address America’s growing energy needs, but a broad-based compromise is often constrained by regional differences. It is important to highlight the regional benefits of potential energy policies that drive renewable generation. North Carolina enacted a renewable portfolio standard in 2007 known as the Renewable Energy and Energy Efficiency Standard (REPS). This was significant because a mandatory renewable energy requirement was passed through a state legislature in the Southeast for the first time and in a region where power markets are heavily regulated. Our energy modeling endeavor forecasts the results of other Southeastern states adopting a similar renewable portfolio standard, along with various levels of federal action. Our results indicate that a coordinated renewable portfolio standard throughout the Southeast could reduce wholesale electricity prices by $6 per megawatt hour and mitigate carbon dioxide emissions by 18 million tons in North Carolina relative to other policy alternatives by 2025. Our analysis utilizes two distinct energy models to evaluate the impact of federal and state energy policies. By incorporating the Department of Energy’s National Energy Modeling System (NEMS) and the AURORAxmp models, we are able to perform a robust scenario analysis that tests political ideologies, congressional action, and federal agency regulation. The results allow us to identify potential outcomes of renewable portfolio standards within the reality of an uncertain energy future.
Open Access
Analysis of Electric Utility EV Proposals
(2020-05-23) Gowni, Meghana; Zhang, Siyuan
The project analyzes a sample of Electric Vehicle program proposals put forth by electric utilities across the U.S. for developing and installing electric vehicle (EV) charging infrastructure. The project looks at each of these proposals in depth and characterizes trends among the proposals that were filed between 2013 and 2019.
Open Access
Ancillary Services Participation for Electric Vehicle Fleets
(2018-04-24) Shin, Soli
Amid growing concerns of global climate disruption, a diverse set of stakeholders are advocating for deep decarbonization efforts in sectors such as electrical power generation and transportation. This Master’s Project (MP) will explore the potential scenarios when these two sectors begin to merge. As the electrification of vehicles becomes commonplace, benefits and limitations will become evident across the U.S. electric grid. The impact of fleet-scale adoption of electric vehicles (EVs) and vehicle-to-grid (V2G) implementation will be discussed. An EV fleet managed by a central entity has the possibility of aggregating their stored power for a grid service through a specialized charger that allows for bi-directional electric flow. The communication software and ability to transfer power from grid to vehicle is called vehicle-to-grid implementation, or V2G. V2G is a broad term with multiple applications. The focus of this MP will be on EV fleets’ ability to provide ancillary services. The ancillary services market represents an array of services that provide general grid support, rather than outright electrical power capacity. Ancillary services include services such as frequency regulation and voltage control.
Open Access
As the Grid Gets Cleaner, Will Microgrids Lower Emissions in New York?
(2018-04-27) Dietz, Elihu
In New York, severe storms such as Hurricane Sandy in 2012, have knocked out power to large areas, raising interest in building microgrids, which provide resiliency. The state has set a goal to produce 50% of its electricity from renewable resources by 2030, and reduce GHG emissions by 40%, also by 2030. As the electric grid adds renewable resources, how will a microgrid need to be designed to help reduce emissions? In this study, electric and thermal demands were simulated using DOE’s Commercial Reference Buildings and eQuest for five buildings in Westchester County, New York. The bi-level optimization software HOMER Pro was used to design a microgrid using Combined Heat and Power (CHP) and then simulate hourly performance over 13 years, to 2030. Electricity emission factors for CO¬2 increase in a CHP microgrid scenario versus a baseline, with no CHP microgrid. A sensitivity analysis shows that the price for electricity that the microgrid receives from the grid affects the way the microgrid operates, with higher prices causing higher emissions factors.
Open Access
Assessing Land Availability for Utility Solar in North Carolina Using GIS
(2017-04-28) Brawner, Eric; Wang, Yifu; Hassaram, Janesha; Wiesner, Hoel
The use of utility-scale solar photovoltaic (PV) systems to generate electricity has been increasing substantially in the U.S., and North Carolina is a leading state in its installation. Optimally siting utility PV projects can maximize power generation and reduce projects’ costs, environmental impacts, and social opposition. Our analysis develops a GIS method to optimize siting these projects and assess how suitability factors affect land availability over large areas. We first identify criteria important for siting utility PV projects, such as land-cover, slope, and proximity to electrical substations. We then assess how the stepwise addition of these criteria, from most to least stringent, reduces the availability of suitable land across North Carolina. As the use of utility solar grows in North Carolina, our analysis provides a relevant assessment of siting constraints, identifies prime locations, and quantifies the state’s theoretical potential for this power source.
Open Access
ASSESSING RISK AND RETURN OF FOREIGN INVESTMENT IN UNITED STATES RENEWABLE ENERGY AND CARBON OFFSET PROJECTS: A CASE STUDY
(2014-04-24) Joiner, Andrew
International policy and market changes have prompted many carbon offset project developers to reconsider their business models and search for new opportunities. International compliance offset project methodologies have become more complex with increased oversight and U.S. domestic and regional compliance markets are growing. The possibility of developing projects within these markets has become a risky but possibly financially rewarding proposition. This client-based masters project investigates the market changes that have prompted many firms to reassess their business model, determines the possibility of a specific client developing new projects internationally or within the domestic United States, and compares the risks and returns from these possibilities. Carbon market policies are outlined and discussed within a comparison of regional renewable energy incentives, primarily focusing on the Southeast and Midwest regions of the United States. The resulting analysis and proposal shows 3 domestic U.S. renewable energy and/or carbon offset projects, and compares them to a recently completed renewable energy project in operation in Lahore, Pakistan. Analysis of these projects show large possible returns dependent on the strategy taken by the client. Financial projections are shown with regards to pre-determined comparison metrics, and ultimately project type, location, and technology are suggested to the client. International policy and market changes have prompted many carbon offset project developers to reconsider their business models and search for new opportunities. International compliance offset project methodologies have become more complex with increased oversight and U.S. domestic and regional compliance markets are growing. The possibility of developing projects within these markets has become a risky but possibly financially rewarding proposition. This client-based masters project investigates the market changes that have prompted many firms to reassess their business model, determines the possibility of a specific client developing new projects internationally or within the domestic United States, and compares the risks and returns from these possibilities. Carbon market policies are outlined and discussed within a comparison of regional renewable energy incentives, primarily focusing on the Southeast and Midwest regions of the United States. The resulting analysis and proposal shows 3 domestic U.S. renewable energy and/or carbon offset projects, and compares them to a recently completed renewable energy project in operation in Lahore, Pakistan. Analysis of these projects show large possible returns dependent on the strategy taken by the client. Financial projections are shown with regards to pre-determined comparison metrics, and ultimately project type, location, and technology are suggested to the client.
Open Access
Assessing the Outcomes of a Long-term, Zero-emission Strategy for GoTriangle’s Transit Fleet
(2019-04-19) Floum, Jackson; Fu, Yingyu; Yoshizumi, Alexander; Zhang, Liyue
The goal of this project was to assess how GoTriangle might most effectively implement battery electric vehicle (BEV) buses by analyzing possible environmental and social factors and providing recommendations for BEV bus implementation to maximize operating efficiency and social good. The core questions that drove the analyses were (1) whether GoTriangle is a good candidate for BEV bus implementation and (2) how GoTriangle might best implement BEV buses. Four analytical components were chosen to address the goals of the project based on participatory feedback from project clients: (1) analysis of potential grid impacts of charging the electric fleet, (2) comparisons between BEV bus well-to-wheel emissions and conventional diesel bus well-to-wheel emissions, (3) suitability analysis of route legs – the most granular transportation planning units used by GoTriangle, and (4) spatial analysis of emissions to address environmental health and environmental justice concerns. This report found that GoTriangle is likely a good candidate for BEV bus implementation. Increased demand to the grid would likely be negligible from a transmission point-of-view. In maximum fuel-economy scenarios with an energy mix based upon Duke Energy’s integrated resource plan, it appeared that BEV buses would contribute less emissions in every category when compared to diesel buses. Though, it should be said that comparatively larger contributions of some air pollutants were observed in minimum fuel-economy scenarios. Many bus route legs – the smallest planning units used in route optimization – appeared to be good candidates for implementation based on physical characteristics known to be associated with energy consumption. Route legs located near and around Raleigh were found to be some of the most optimal options based on their physical properties and comparatively greater potential to mitigate human exposure to criteria pollutants.
Open Access
Assessing Transmission Bottlenecks for Renewable Energy Development in North Carolina
(2021-04-22) Wang, Yiwen; Xue, Yutong; Pungaliya, Rajat Prashant
North Carolina is ranked third for the cumulative amount of solar installation in the US. The aggressive renewable integrations have introduced potential transmission constraints and costly upgrades. We explore different kinds of bottlenecks in NC that hamper further growth: interconnection policy, a winter peaking system, regulatory hurdles to obtain the certificate of public convenience and necessity, and the participant funding model. Following Duke Energy's recent interconnection queue reform proposal, we firstly summarize the changes required in the interconnection study process to use a cluster approach. Next, we recommend the incorporation of short and long-duration energy storage to tackle the winter peak, the usage of Grid Enhancing Technologies (GETs) to increase line carrying capacities, and a reallocation of transmission upgrade costs between developers and owners. Lastly, we researched the transmission planning from California Independent System Operator (CAISO) in California; compared its renewable policy to NC, and suggested potential market mechanism upgrades NC can utilize to pave out future renewable integrations.
Open Access
Assessment of Venture Capital's Role in Climate Tech: A Case Study on End-of-Life Batteries
(2023-04-26) Demyan, Lewis
Venture capital (VC) is a subset of private equity that invests in early-stage companies, traditionally targeting software companies due to their attributes of being capital-light, experiencing fast growth, and generating recurring revenues. Beginning in 2017, “Climate Tech”, a loose term for a wide array of tech-enabled solutions to climate change, became increasingly prevalent in VC and challenged the conventional focus of investing. As a continuation of a years-long internship with a climate tech VC firm, this study assesses the merits and drawbacks of applying the traditional VC model to climate tech and, in doing so, presents a subset of the work done during the internship on end-of-life batteries. The latter explores the market for end-of-life batteries, namely recycling and second-life applications, and the criteria needed to make an investment decision in the space.