PJM to Fine Generators Up to $2BN For Failure to Deliver During Winter Storm Elliot

China’s JA Solar to develop $60 mn, 2 GW solar panel assembly plant in AZ by Q4 2023; S. Korea’s Hanwha Q Cells to invest $2.5 billion to expand 1st plant and build 2nd facility in GA to make 3.3 GW of solar panels by Q4 2024. Factory to create ingots, wafers, cells, & finished panels; REsurety & Watt Time offer data on marginal emissions impacts of sustainability investments; NY State to develop cap-and-invest program w/declining limits on GHG emissions, raising over $1 billion annually. Goal is to cut emissions 40% by 2030 & 85% by 2050 vs 1990 baseline; Mid-Atlantic grid operator PJM to fine generators betw $1 - $2 billion for failing to deliver during winter storm Elliot, w/shortfall in gen at nearly 46 GW; CA CCA signs 25-year, $775 million energy storage contract for 200 MW / 1,600 MWh w/compressed air energy storage company Hydro Store; RMI & founding members Ford, GM, Google, Nest, and others create Virtual Power Plant partnership to advance DER policies & catalyze activity. 

1) IRA pays dividends, w/Chinese solar co JA Solar announcing $60 million, 2 GW solar panel assembly plant in AZ, by Q4 of 2023, serving on-site & utility scale markets.

2) IRA lures S Korean co Hanwha Q Cells, which will spend $2.5 billion on 3.3 GW of solar manuf'g capacity in GA, expanding one plant & building another to span solar supply chain, from ingots to finished panels. 

3) REsurety & Watt Time offer data on marginal emissions impacts of sustainability investments, aiding cos such as Amazon, GM, Heineken, & Google that are shifting carbon accounting focus to their impact on actual emissions.

4) New York plans on cap-and-invest program to cut GHG emissions and raise over $1 billion annually. Large GHG emitters and distributors of heating/transportation fuels must buy declining amounts of emissions allowances. Goal is to cut emissions 40% by 2030 and at least 85% by 2050 - from 1990 levels. Revenues to be dedicated to clean energy investments & supporting disadvantaged communities.

5) Mid-Atlantic grid operator PJM to fine generators between $1 and $2 billion for failing to perform during winter storm Elliot. Nearly 46 GW was offline on 12/24, largely owing to plant equipment failures/fuel supply issues. Gas fired gen at 70% of overall shortfall. 

6) CA community choice aggregator, Central Coast Community Energy inks 25-year, $775 mn energy storage contract for 200 MW/1,600 MWh w/compressed air energy storage company Hydro Store. Hydro Store to build world’s largest underground cavern, w/compressed air below a water reservoir to maintain pressure. 

7) RMI and founding members Ford, GM, Google, Nest, OM Connect, and other cos. announce Virtual Power Plant Partnership, w/goal of advancing policy and catalyzing industry to advance Distributed Energy Resources to create value for the grid and provide much-needed capacity.