Since 2001, corporate buyers have secured nearly 45,000 megawatts cumulatively.Īltogether the renewable energy industry has matured from providing enough renewable energy to power 12 million homes and employing about 169,000 workers in 2010 to powering over 44 million homes and providing roughly half a million direct jobs today.Įven so, progress on renewables is not nearly fast enough to fully bend the curve on carbon emissions, and energy demand continues to surge. The 10 companies that originally joined the partnership helped galvanize an entire movement.
That same year, Jennifer launched a program at WRI to jumpstart corporate demand for renewable electricity, with a goal of delivering 1,000 megawatts of clean energy by 2010.
#Electrical grid install
The company set an early target to install 500 megawatts of renewable energy in five years and to date has developed over 25,000 megawatts of wind, solar and battery storage plants around the world. In 2001, Michael founded a clean energy company, Invenergy, out of a small Chicago office. Twenty years ago, we each leapt into the emerging sustainable energy field. But the last two decades have shown us that it's possible to rise to meet the challenge. As energy experts who have spent our careers focused on the deployment of clean, renewable energy, we’ve heard these doubts before. can accelerate renewable energy deployment at the pace needed to fight the climate crisis. As we enter 2022, it’s time for Congress to act and build a modern grid, based on renewable energy. The country needs a grid that is faster, more resilient and helps it meet its emissions reduction goals. To create the Grids and Storage Criteria, we convened a Technical Working Group (TWG) and an Industry Working Group (IWG) with representatives from investors, public entities, research institutes and international policy bodies from around the world.The Infrastructure Investment and Jobs Act that President Biden signed into law last November is a down payment to modernize the electric grid in the United States, but it’s only a piece of what’s needed.
The Grids and Storage Technical and Industry Working Groups (TWG and IWG) Improved guidance, such as these Grids and Storage Criteria, will catalyse investment and can be utilised by governments in setting regulation or recommendations for decarbonising the sector.
However, global investment has been falling for the past several years, down from USD 306 billion in 2016 to USD 248 billion in 2020. The dependence of so many sectors and societies on stable electricity provision makes grid resilience essential.Įstimates suggest investment in electricity networks needs to increase from 16% of total energy investment to 19% between the years 2025 – 2030 to meet the Paris goals. This is all while ensuring this infrastructure is adapted to changes in climate. For industrial sectors or buildings, electrification is a key means to achieving decarbonisation. At the same time, this infrastructure is vital for the decarbonisation of other sectors. More flexible and distributed systems are needed to bring about clean electricity. Why develop eligibility Criteria for grid- and storage-related low carbon investments?Įxpanding and upgrading electricity grid and storage infrastructure is crucial to meeting the steep decarbonisation goals for energy systems. Public consultation for the Grids and Storage Criteria has now ended.Ī webinar took place on Tuesday 8th June 2021 that provided an opportunity for interested parties to learn more about the Criteria and to ask our lead technical consultant Ian Walker and staff at CBI any specific questions they might have: The Grids and Storage Criteria contain both Mitigation Requirements and Adaptation & Resilience Requirements.īonds and loans linked to these eligible assets and projects will be aligned with the Paris Agreement 1.5 oC limit. The Criteria apply to transmission, distribution and storage of electricity. Status: The Grids and Storage Criteria are now available for use for certification.Ĭriteria: The Grids and Storage Criteria lay out the requirements that grid and storage assets and/or projects must meet to be eligible for inclusion in a Certified Climate Bond. To see the whole list of Electrical Grids and Storage Climate Bonds, visit our Database of Certified Bonds Criteria Frequently Asked Questions (FAQs) Grids and Storage Background Paper (English)ĥ. Grids and Storage Criteria Document (English)ģ. Grids and Storage Criteria Brochure (English)Ģ.
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