Video: Understanding the Basic Tenets of a Successful Renewable Energy Procurement Strategy
To hedge against the risk of increases in short- and long-term energy prices on the market, businesses are increasingly integrating renewable energy and distributed energy resources (DER) into their broader energy procurement and management strategy.
However, the current state of the renewable energy market can make this challenging. Determining the appropriate resource mix (conventional power, RECs, wind, solar, battery storage, biofuel) and the most effective financing strategies (PPA, VPPA, PACE financing, cash outlay) can be complex and time-consuming.
Too often, organizations lacking an enterprise-wide energy procurement and energy management strategy end up relying on a single renewable energy or DER technology and can miss out on lower-cost or lower-risk opportunities.
While this market can be complex, large organizations are integrating renewables and DERs into their strategy without putting a strain on resources or dragging down productivity in the process. Earlier this year, for example, the US General Services Administration completed a 140 MW wind power purchase agreement—the largest such purchase ever completed in a federal contract—after developing a strategy with Enel X’s energy procurement experts.
In the three-minute video below, Enel X’s Director of Global Supply Advisory Services, Alvaro Pereira, Ph.D., breaks down the key questions to ask about your business and the basic tenets of a successful renewable energy procurement strategy.
This video is an excerpt from a more in-depth webinar, Evaluating Your Renewable Energy Options: When RECs Make Sense, which explains:
- The renewable energy options available in different states and energy markets
- Why renewable energy credits (RECs) have different values in different markets
- When RECs are a better option than PPAs or Virtual PPAs (and when they’re not)
If you’d like to learn more about Enel X’s renewable energy and DER services, you can download our renewable energy procurement and advisory brochure.
Or reach out if you’d like to talk to one of our energy procurement experts.