Carbon-Free Chronicles: The essential round up of news and reports relating to 24/7 clean energy

What we’re reading

Local requirements in the European GO market could significantly impact GO prices and investments

• A new report from Aurora Energy Research finds that local GO matching requirements would shift GO revenues away from oversupplied markets and towards assets in undersupplied markets, spurring market-based renewables buildout.
• Under a 100% local scenario, revenue to wind and solar assets across Europe would increase by 17% between 2025-2030 relative to today’s system, amounting to 18 billion EUR in additional value for wind and solar projects.
• With GO exports limited to physical power export capacity, Norwegian GOs specifically would average EUR 0.6/MWh in 2030, compared to a forecast of EUR 2.4/MWh with the current restriction-free system.
• However, in countries with high levels of hydropower, like Norway, implementing an hourly matching system could help preserve those GO values by leveraging the flexibility of hydropower generation.

From Scope Two to Scope True

• As the GHG Protocol continues its update, two main methodologies are being questioned. NDRC, a non-profit environmental advocacy organization that works to protect the planet's wildlife, wild places, and people, weighs into the debate.
• One proposed update would require companies to align their electricity consumption with clean energy supply on an hourly basis and within relevant grid locations. This method enhances transparency and prevents misleading claims of zero emissions. NDRC highlights that granular accounting linked to real-world energy systems offers a reliable way to drive clean energy investments and decarbonize grids, fostering long-term climate accountability.
• The alternative methodology, led by the Emissions First Partnership (EFP), proposes a framework that allows offsetting emissions without proper accountability, relying on dubious "marginal emissions" models and unrelated offsets, undermining credible emissions reduction efforts.

24/7 CFE trading impact on power systems and markets

• The UK’s National Grid Energy System Operator is leading a project alongside consultant Afry, market operator Nord Pool and hourly matching enabler Granular Energy to review how 24/7CFE trading would impact power systems.
• The early results highlight that 24/7 will benefit transparency, grid decarbonisation, and better investment signals, especially for flexibility. 24/7 drives demand response, as hourly certificate prices will vary during the day - the prices will be low/zero when there is plenty of CFE and high when there isn't. This means a big boost for batteries, where hourly certificates could contribute more than wholesale revenues in the future.

Climate Group webinar series

• Climate Group and Renewabl held a webinar series on the topic of 24/7 CFE. On the back of the 24/7 Carbon-Free Coalition launch, the series aims to help corporates and large energy buyers navigate their 24/7 CFE journey.
• The webinar series included three sessions: the first introduced the concept of 24/7 CFE, the second explored the transition process for companies aiming to adopt it, and the third featured experts answering questions on the topic.

Down to data

• Princeton University ZERO Lab published a new study evaluating the system-level impacts of 24/7 CFE procurement when consumers use granular supply-side data but lack granular demand-side data. It investigates implications for emissions, costs, and technology deployment.
• Results show that system-level emissions and technology deployment outcomes remain consistent even with approximate demand profiles. Larger variations in outcomes arise from grid conditions, matching targets, and technology availability rather than demand profile granularity.
• Granularity in load profiles has minimal impact on the accuracy of emissions accounting; technology portfolios are similar regardless of profile precision.

What we’re writing (and saying)

Hourly matching in France

• Alongside EnergyTag and Carbone 4, we published a white paper on hourly matching in France. The paper reviews the benefits of hourly matching and its mechanisms, and what is needed to launch it in France.
• We share recommendations to accelerate adoption, starting with enabling producers to issue hourly guarantees of origin (GO), giving consumers an option to demonstrate hourly matching without legislative changes. This would align with the EU RED III directive by transitioning the unit of GOs in France to KWh or Wh.
• The next step is promoting voluntary hourly and geographic matching through initiatives like Ademe's VertVolt label or Carbone 4's Net Zero Initiative framework.

Tokyo Metro hourly matching

• Tokyo Metro is committed to 24/7 carbon-free electricity within their "Metro CO2 Zero Challenge 2050". With JERA Co., Inc., we're providing insights into how the renewable generation from Tokyo Metro's virtual PPA and non-fossil certificates sourcing match against their consumption on an hourly basis.
• This is the first roll-out of our solution in Japan, aligning Tokyo Metro’s operations with global best practices for renewable energy traceability. Thanks to our partner JERA Cross for pioneering hourly matching to Japan.

Granular Energy has achieved ISO 27001 certification!

• Information security is a promise we make to all of our customers and partners. After 6 months of audits, assessments, and trainings, we have received our ISO 27001 certification.
• In addition to our SOC2 Type 1 and Type 2 compliance, ISO 27001 gives our customers added certainty that their data is protected through independent validation of our information security practices.

What is and isn’t clean energy?

• Our CEO, Toby Ferenczi, sat down with the With Great Power podcast to talk about 24/7 CFE and Granular Energy’s solution for hourly matching before hourly certificates are widely available. Listen on to a discussion on the impacts of Scope 2 carbon accounting practices and the ongoing GHG Protocol revisions.

Stay tuned for upcoming events in the new year!