Executive Energy Forum: Sustainability as a Part of Procurement3 min read
On June 15th, Constellation hosted its 2021 virtual Executive Energy Forum (EEF) where energy industry experts gathered online to inspire and inform energy managers, focusing on trends in sustainability.
The Forum included:
- A panel interview moderated by David Gilbert, Vice President of Exelon’s Federal Government Affairs, focused on the Biden administration’s infrastructure plan for the future of clean energy;
- A presentation titled “Rethinking Energy 2020-2030” from Tony Seba, Futurist and Author; and
- A panel of Constellation sustainability efficiency experts who shared the trends in sustainability among businesses and how Constellation is innovating to offer relevant solutions
In this blog post, we focus on three insights related to sustainability trends.
1) How could the Biden administration’s policies shape energy?
Gilbert moderated a panel with Amy Myers Jaffe, Research Professor and Managing Director of Climate Policy Lab at Tufts University; Brian Wolff, Executive Vice President of Public Policy and External Affairs at the Edison Electric Institute; and Russ Sullivan, Shareholder, at Brownstein Hyatt Farber Schreck, LLP.
They discussed the necessity of grid modernization especially as it relates to the Biden administration’s allocation of funds to expand transmission lines across the country. “This expansion would also help with the distribution of solar, wind and nuclear across the country,” explained Sullivan.
As expansion occurs, grid security would need to be considered to prevent both cyber and physical threats. “Both sides of the aisle need to mobilize; this [grid modernization including grid security] shouldn’t be a partisan movement,” commented Jaffe. “It’s a national security issue.”
2) What is the future (cost) of renewable energy?
Author and Futurist Tony Seba presented data that demonstrated solar and wind are the cheapest sources of energy, when compared with the operating costs of nuclear, oil and gas. “The lower the price, the higher the adoption, and the higher the supply, the lower the price,” he explained.
He shared that the cost of wind power is expected to drop by 42-43% by 2030 and that solar costs and battery storage costs could also drop by 72% and 80% respectively by 2030.
Americans know the importance of self-generation and storage, he explained, but outdated policies and resistance from incumbents may act as barriers to achieving 100% clean energy throughout the country in the near future.
3) What sustainability trends are you seeing among businesses in the power and gas sectors?
“Sustainability is now a part of the energy procurement process. In fact, more than a thousand companies have publicly announced sustainability targets, and typically they’re more aggressive than government targets”, shared moderator Greg Kosier, senior manager of Constellation’ Commodities Management Group, who kicked off the Constellation sustainability panel. This comes from increasing pressure from the public, employees, as well as investors, and the need to compete with peers.
Customers have several options for reducing their carbon footprint—whether it’s decarbonizing their natural gas usage through the transition to renewable natural gas (RNG) or going beyond LED lighting and creating an optimal building environment via the integration of new technologies.
Additionally, they may look at aggregation as a tool for investing in large-scale renewable projects, allowing them to obtain renewable energy certificates (RECs) along with other project off-takers. These offsite projects are often considered “front-of-the-meter generation systems,” and the energy produced from the new renewable project benefits the local grid.
Constellation can connect you to the products, strategic relationships, and technology that can help how you develop and execute your sustainability strategy and meet carbon-free goals. We provide the expertise and resources for a customized strategy unique to your business.
Watch our Executive Energy Forum recording on demand for access to further insights on the future of energy.