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Electricity Market Operations
Decarbonization Strategies Asset Valuation Resource Adequacy Regulatory Support FEATURED PROJECTS
Quantitative Evaluation of Offshore Wind Projects in Rhode Island
TCR has served as a consultant to a utility in Rhode Island procuring mandated offshore wind capacity to provide independent, quantitative evaluation of bid proposals.
Reserve Procurement Strategies
The Electric Power Research Institute (EPRI) and Tennessee Valley Authority (TVA) retained TCR to help them evaluate a range of alternative reserve procurement strategies for integrating variable renewable generation.
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Renewable Energy IntegrationTCR brings a multi-disciplinary, quantitative approach to our analyses of renewable energy projects to evaluate the potential of proposed projects from multiple perspectives, including economic valuation and carbon abatement potential. Our team has a comprehensive range of technical, economic, financial, and regulatory expertise. We apply state-of-the-art analytical tools and simulation models including ENELYTIX, a cloud-based market modeling platform, to perform rigorous analyses of renewable energy projects.
TCR provides analyses with rigorous results that withstand peer review and litigation scrutiny. We present those analyses and results clearly and convincingly to both technical and non-technical audiences. Case StudyQuantitative Evaluation of Long-Term Contracts for Offshore Wind in Massachusetts
TCR was retained by the Massachusetts electric distribution companies (EDCs) to assist them, in cooperation with the Department of Energy Resources (DOER) and an Independent Evaluator, to evaluate the quantitative costs and benefits of proposals for long-term contracts for offshore wind energy. The EDCs issued a Request for Proposals for up to 800 MW of offshore wind electric generation capacity in compliance with Section 83C of the Massachusetts Green Communities Act.
TCR evaluated over 20 distinct proposals and portfolios. The costs and benefits TCR evaluated included annual costs of energy and renewable energy certificates (RECs) from the proposed projects as well as the value of reductions in annual carbon emissions, market prices of energy, and market prices of RECs. TCR developed projections of each proposal’s costs and benefits over a 25-year evaluation period based upon the bids from each proposal and the outputs of TCR’s simulation modeling of each proposal case. To perform its analyses, TCR used ENELYTIX to simulate the hourly operation of the New England electric energy market under a Base Case and under each Proposal Case. The Base Case provided a “counterfactual” projection of energy and capacity costs, as well as carbon emissions, under a future in which the EDCs did not acquire 800 MW of offshore wind. TCR used a Greenhouse Gas (GHG) Inventory model to calculate the impact of each proposal on the annual carbon emissions attributable to Massachusetts. The EDCs filed the TCR report as Exhibit JU-5 in Massachusetts DPU Docket 18-76. |
