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Status and Trends in the Voluntary Market (2021 Data)

Green power refers to renewable electricity voluntarily purchased by retail electricity customers. Renewable energy sources for green power include solar, wind, biomass, geothermal, and small-scale hydropower. This report summarizes data on the various ways in which voluntary purchasers including residential, commercial, and institutional customers purchase green power. We summarize key historic trends in U.S. voluntary green power markets and the current status of green power sales through seven products: utility green pricing programs, utility renewable contracts, competitive suppliers, unbundled renewable energy certificates, community choice aggregations, and power purchase agreements. It includes discussion of how the voluntary market may impact the grid.

ENERGY PLANNING, POLICY, AND ECONOMY↗

Status and Trends in the Voluntary Market (2020 Data)

Green power refers to renewable electricity voluntarily purchased by retail electricity customers. Renewable energy sources for green power include solar, wind, biomass, geothermal, and small-scale hydropower. This report summarizes data on the various ways in which voluntary purchasers - including residential, commercial, and institutional customers - purchase green power. We summarize key historic trends in U.S. voluntary green power markets and the current status of green power sales through seven products: utility green pricing programs, utility renewable contracts, competitive suppliers, unbundled renewable energy certificates, community choice aggregations, and power purchase agreements. It includes discussion of how the voluntary market may impact the grid.

community choice aggregation↗

Community Choice Aggregation(CCA) Data Collection Webinar for Status and Trends in the Voluntary Market Report (2024 Data) [Slides]

We have subcontracted LEAN Energy US, to help us improve our CCA data collection effort for the Annual Voluntary Energy Markets Data Report. LEAN Energy US (Local Energy Aggregation Network) is a national 501(c)3 non-profit organization dedicated to accelerating the country's transition to clean and renewable power, supporting competition and customer choice in the energy sector, and maintaining affordable electricity rates. We work in partnership with a range of organizations to actively support the formation and operational success of Community Choice Aggregation (CCA) programs around the country. This webinar, hosted in partnership with LEAN Energy US, is intended to introduce their members to our data collection effort and encourage CCAs in their network to participate.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

Status and Trends in the U.S. Voluntary Power Market: 2023 Data

Voluntary green power, for this report, refers to renewable energy procurement by retail electricity customers above what is otherwise provided by load-serving entities. This report is part of an annual series of reports synthesizing trends in the U.S. voluntary green power market. In 2023, about 9.7 million retail electricity customers procured about 319 million megawatt-hours (MWh) of voluntary green power (Figure ES-1), representing a 17% increase over sales in 2022. Estimated voluntary green power market sales represented about 44% of non-hydropower renewable energy sales and about 8% of all U.S. retail electricity sales in 2023. Most of the remainder of U.S. renewable energy sales reflects renewable energy procured by load-serving entities to comply with state renewable energy mandates, also known as compliance-based procurement. The U.S. voluntary green power market is undergoing a clear shift toward long-term contracts, driven primarily by increasingly ambitious corporate renewable energy procurement targets.

2023↗

Status and Trends in the U.S. Voluntary Power Market: 2024 Data

Voluntary renewable power, for this report, refers to renewable energy procurement by retail electricity customers above what is otherwise provided by load-serving entities. This report is part of an annual series of reports synthesizing trends in the U.S. voluntary renewable power market. In 2024, about 9.2 million retail electricity customers procured about 315 million megawatt-hours (MWh) of voluntary renewable power (Figure ES-1). Estimated voluntary renewable power market sales represented about 45% of renewable energy sales excluding large hydropower and about 8% of all U.S. retail electricity sales in 2024. Most of the remainder of U.S. renewable energy sales reflects renewable energy procured by load-serving entities to comply with state renewable energy mandates.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

Improving sustainable tropical forest management with voluntary carbon markets

Due to a rapidly changing climate, voluntary carbon markets are gaining momentum and should be leveraged to improve and expand tropical sustainable forest management plans, limiting carbon emissions and enhancing critical carbon sinks. By sequestering more carbon than any other terrestrial ecosystem — ~1 Pg C yr –1 — tropical forests provide crucial natural climate solutions and opportunities in the evolving voluntary carbon market. Here, we argue that some issues with the current sustainable management of tropical forests can be addressed using carbon-focused sustainable forest management (SFM + C) to leverage financial resources for tropical forest carbon storage and sequestration. We suggest an extended harvest cycle in SFM + C and calculate an associated potential increase in aboveground carbon stocks of commercial timber of 1.26 Mg C ha –1 after each cycle in the Brazilian Amazon. The additional carbon storage due to a longer harvest cycle can generate carbon credits worth 152.6 (SD 9.2) US dollars per hectare in 40 years. Considering an average cost of 180 BRL per m3 of commercial timber delivered to the sawmill, an SFM + C plan with a 40-year cycle could generate 28.7% (SD 2.5) more profit than 35-year cycles by combining timber and carbon revenues. A robust carbon price could incentivize the further extension of harvest cycles, providing a monetary return that offsets the opportunity cost intrinsic to harvesting under longer cycles. Lastly, we highlight research needs to support tropical SFM + C, which can be part of a global collective effort to limit global warming to below 2 °C above pre-industrial levels.

54 ENVIRONMENTAL SCIENCES↗

The State of the U.S. Voluntary Power Market (2024 Data)

NLR has tracked the voluntary power market since its inception in the 1990s to help corporate purchasers, utilities, and others selling renewable energy products understand available renewable options and move renewable energy forward. As a part of this report we publish a slide deck, a datebook, a Top 10 utilities and CCA list, and the report.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

Status and Trends in the U.S. Voluntary Green Power Market (2021 Data)

Voluntary green power, for the purposes of this report, refers to renewable energy procurement by retail electricity customers above state renewable energy mandates. In this report, we present data and key trends for voluntary green power markets, except for a small portion of voluntary purchasing where no data are available. In 2021, about 8 million retail electricity customers procured about 244 million megawatt-hours (MWh) of voluntary green power (Figure ES-1), representing about 27% of all U.S. renewable energy sales, about 39% of non-hydro renewable energy sales, and about 6% of all U.S. retail electricity sales. Most of the remainder of U.S. renewable energy sales reflects renewable energy procured by load-serving entities to comply with state renewable energy mandates, also known as compliance-based procurement.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

Status and Trends in the U.S. Voluntary Green Power Market: 2022 Data

Voluntary green power, for the purposes of this report, refers to renewable energy procurement by retail electricity customers above what is otherwise provided by load-serving entities. This report is part of an annual series of reports synthesizing trends in the United States voluntary green power market. In 2022, about 9.6 million retail electricity customers procured about 272 million megawatt-hours (MWh) of voluntary green power, representing about 38% of non-hydro renewable energy sales and about 6% of all U.S. retail electricity sales. Most of the remainder of U.S. renewable energy sales reflects renewable energy procured by load-serving entities to comply with state renewable energy mandates, also known as compliance-based procurement.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

Status and Trends in the U.S. Voluntary Green Power Market (2021 Data)

This data book provides certain data behind figures and tables found in the NREL presentation "Status and Trends in the Voluntary Market (2021 Data)." These data reflect estimates based on the best available data. Excluded Data This data book excludes data for certain figures using confidential survey data or purchased data for which NREL does not own the rights. In particular, renewable energy certificate (REC) price data are not included in this data book Rounding: Some estimates may be slightly inconsistent across tabs due to estimate rounding Citation for the data: E. O'Shaughnessy and J. Heeter. 2022. Status and Trends in the Voluntary Market. Golden, CO: NREL. For more information: contact Jenny Heeter (jenny.heeter@nrel.gov). For more information on voluntary green power markets see NREL's resources at https://www.nrel.gov/analysis/green-power.html. Acronyms CCA Community choice aggregation MWh Megawatt hour PPA Power purchase agreement RECs Renewable energy certificate

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

Quantifying the Potential Atmospheric Leakage Risks Associated With the Geologic Storage of CO 2 in Saline Aquifers for Use in Voluntary Carbon Market Buffer Account Determination

Conference paper presented at 17th International Conference on Greenhouse Gas Control Technologies (GHGT-17), Calgary, Alberta, Canada, October 20–24, 2024. This paper presents the results of a detailed study into the potential atmospheric leakage risks associated with the geologic storage of CO 2 in saline aquifers. This study included a detailed literature review, a re-creation of existing CO 2 leakage models put forth by other authors and, lastly, the development of an enhanced model that can be utilized for assessing the potential losses to the atmosphere of stored CO 2 across a variety of potential project parameters. The results of this study indicate that, across broad ranges of input parameters for mechanisms that have the potential for CO 2 loss from the storage complex to the atmosphere, there is an extremely low risk of CO 2 leakage to the atmosphere, with the median leakage risk estimated to be 0.1% of total injected CO 2 . The risk of leakage from real-world storage projects is likely to be even lower than those estimated through this study.

01 COAL, LIGNITE, AND PEAT↗

NREL Green Power Data 2020

This data book provides certain data behind figures and tables found in the NREL presentation "Status and Trends in the Voluntary Market (2020 Data)." These data reflect estimates based on the best available data.

24 POWER TRANSMISSION AND DISTRIBUTION↗

Technoeconomic Analysis of High-Value, Crystalline Silicon Photovoltaic Module Recycling Processes

Recycling is an important circular economy strategy, and for photovoltaics (PV), the one that has received the greatest research attention. Recycling of PV modules is required in Europe; everywhere else it competes in the market of end-of-life options, where cost is a primary decision factor. The vast majority of PV modules sold globally are crystalline-silicon (c-Si); most of the rest of the market are cadmium telluride thin film modules whose primary manufacturer runs its own commercial-scale recycling program. While many different c-Si recycling approaches and technologies have been proposed, they generally lack accompanying cost estimates or enough process information to model costs. Herein we develop detailed estimates of seven categories of capital and operating costs along with estimates of revenue from recovered materials for each step in two proposed recycling processes for c-Si PV modules. Using these results, we develop a hypothetical third recycling process merging process steps from the original two, estimate surcharges required to achieve minimum sustainable prices for each recycling process, as well as consider how economies of scale could reduce costs. Increasing the purity of and identifying higher-value markets for recovered materials are approaches to reducing costs and increasing recycling rates in voluntary markets.

crystalline silicon↗

A Biochar Classification System and Associated Test Methods

In this chapter, a biochar classification system related to its use as soil amendment is proposed. This document builds upon previous work: “Standardized product definition and product testing guidelines for biochar that is used in soil” (IBI, 2015) (aka IBI Biochar Standards) and “Guidelines for biochar production for a sustainable production of biochar: European Biochar Certificate” (EBC, 2012-2022) (aka EBC Biochar Standards). It should be noted that the EBC guidelines constitute the basis for biochar certification through the independent government accredited inspection agency, Bio.Inspecta AG. The present document constrains its scope to materials with properties that satisfy the criteria for biochar as defined by either the IBI Biochar Standards or the EBC Standards (Annex I), as required by the current methodologies developed for accounting carbon credits associated with the biochar use in the voluntary market (e.g., Verra, Puro.Earth). The classification system envisions enabling stakeholders and commercial entities to (i) identify the most suitable biochar to fulfil the requirements for a particular soil and/or land-use, (ii) distinguish the application of biochar for specific niches (e.g., soilless agriculture), and (iii) assess the climate-impact value based on biochar properties, production efficiency, and alternative feedstock uses. It is based on the best current knowledge and will need to be improved as new data and knowledge become available in the scientific literature.

biochar, climate change impacts, soil amendment, c↗

Energy Emissions Accounting Methods Can Determine Whether Direct Air Capture with Storage Achieves Net Removal

The voluntary carbon market within the United States has expanded rapidly in recent years and enabled private companies and other organizations to provide revenue streams to carbon dioxide removal (CDR) technologies. For a CDR technology to participate in the voluntary carbon market (VCM), the emissions associated with constructing and operating the technology must be less than the CO 2 captured from the atmosphere. Assessing the extent to which this is true for direct air capture with storage (DACS), a relatively energy-intensive CDR technology, strongly depends on the accounting method used to assess the emissions intensity of purchased energy. We simulate the hourly weather-dependent operation of sorbent- and solvent-based DACS in California, Louisiana, Texas, and Wyoming, representing a wide range of local weather and electric and natural gas grid compositions. In all cases, the single most important emissions accounting decision is the method used to estimate the emissions intensity of purchased grid electricity, which varies the calculated net removal by −1049% to +108%. All other factors influencing net removal introduce a variation of at most ±14%. No electricity emissions accounting method is universally conservative across all scenarios, and none is objectively more accurate. High-spatiotemporal-resolution, high-quality, publicly available data sets and models for electricity emissions accounting do not currently exist and are urgently needed to enable standardization of emissions accounting methods to more accurately determine the true emissions impacts of DACS and other energy-intensive facilities.

54 ENVIRONMENTAL SCIENCES↗

Carbon Capture and Storage for Small-to-Medium Biorefineries: Promising Carbon Removal Solution with Economic Challenges

Carbon capture and storage (CCS) integrated with biomass-based fuel production can provide cost-effective biomass carbon removal and storage (BiCRS) and produce high-value bioproducts, such as sustainable aviation fuels. To accelerate BiCRS deployment, it is crucial to quantify the costs of CCS integration, particularly for small- and medium-scale biorefineries that are representative of early-stage deployment. Existing studies tend to focus on plant sizes that are orders-of-magnitude larger than early-stage installations, possibly underestimating CCS costs for small-to-medium biorefineries. We show that the capture, transport, and storage costs to maximize CO 2 removal from a 526 dry tonne per day (tpd) biomass gasification plant (largest existing size) could be 13–47% higher than costs for a typical modeled plant size (2000 dry tpd). The higher cost estimates are driven by less favorable economies of scale and realistic assumptions about the availability of affordable CO 2 transport infrastructure with both drivers broadly applicable to other BiCRS technologies. Compliance and voluntary carbon markets could incentivize biorefinery CCS, but both carry a high degree of uncertainty. In conclusion, these findings highlight that sufficient and reliable financial mechanisms would be essential to unlocking the full CO 2 removal potential of biorefineries and facilitating BiCRS scale-up.

Biological transport↗