What are the benefits of a residential storage system?

Residential storage: Primarily used for home resiliency to deliver back-up power, these systems can also shift energy consumption to off-peak hours and integrate home solar for a low-cost clean energy supply. Residential storage systems can be eligible for Inflation Reduction Act tax credits.

Why are power plant prices going up?

Industry Insight from Reuters Events, a part of Thomson Reuters. Price jumps in several U.S. capacity markets signal greater revenue opportunities for power plant developers as AI demand squeezes the market and increases energy costs for consumers.

Should energy storage be included in the electric grid?

Integrating storage in the electric grid, especially in areas with high energy demand, will allow clean energy to be available when and where it is most needed. As New York continues to invest and build a cleaner grid, energy storage will allow us to use existing resources more efficiently and phase out the dirtiest power plants.

Will higher capacity prices boost the business case for new power generation?

Source: Lawrence Berkeley National Laboratory (Berkeley Lab) Purchase Licensing Rights Higher capacity prices boost the business case for new power generation as well as keeping existing fossil fuel plants online, Brynna Foley, Associate, Research at data provider Enverus, told Reuters Events.

How do long-term power purchase agreements affect prices?

The price of long-term power purchase agreements (PPAs) with commercial offtakers and utilities are influenced by a number of drivers and developers will factor in capacity payments over a longer period when negotiating prices, Foley noted. However, the auction highlighted the tightness in the market.