Follow the money!
The old saying “put your money where your mouth is:” rings true. Many people are completely convinced and absolutely sure until they have to make a commitment that includes the risk of loss if they are wrong. Many times, if I want to test just how “real” or substantiated an item is, I query the insurance industry. They are forced to make long term bets that have significant loss potential, so they typically do a very good job of analyzing the facts and statistics. The insurance industry was adjusting premiums because of climate change, at least a decade ago.
Not that organizations that take financial risk are infallible, but the more money at stake the more diligent, objective and comprehensive the analysis. There has been a lot of discussion regarding the true cost of renewable energy, and we have posted about it here as well. One of the aspects is that you need a backup grid for a renewable grid if you are going to sustain the resiliency and standard of living we now enjoy. Lazard’s (creator of the LCOE) recently published new cost comparisons between renewables with backup and storage compared to other generation modalities. Not surprisingly, the renewable grid was the most expensive.
Coming back to “put your money where your mouth is:” “Rockland Capital has amassed roughly $700 million to buy natural gas-fired power plants, betting they will remain critical stabilizers in U.S. power grids as the use of weather-dependent wind and solar energy expands.”
Rockland Targets Gas-Fired Backup Power Plants With New $700 Million Fund
“Increasing reliance on wind and solar power benefits the investments, as use of less reliable renewables drives demand for backup generating capacity and other services that help maintain grid stability.”
To me, $ 700 million is a serious bet for a single investor. We should take notice and look behind the scenes to what it means for us mere mortals. The grid is deteriorating and getting less stable and reliable. You need to take action and protect your business. You need to consider backup power. Keep
running even when the grid is down, with no upfront CAPEX, with Exergy’s Backup Power as a Service.
Exergy Energy your Concierge Utility, will help you manage and prosper through the energy transition.