![]() ![]() In all, more than $30 billion worth of gas projects have been canceled or abandoned. RMI finds that since 2018, the queue for clean energy projects has more than doubled while the queue for gas projects has been cut in half. Their focus is on profits, not whether their emissions are helping to destroy the environment. You would think such advice would be near and dear to the hearts of all free market conservatives but the stranglehold investor owned utilities have on energy policy means those companies are fighting tooth and nail to preserve their cozy monopoly cocoon. In other words, this trend represents the shifts in internal risk and reward calculus among investors in highly competitive markets, and reflects a market-based, consensus view of the underlying economic value of different power sources.” So let’s have more competitive markets, RMI says. “In these two regions, investors finance projects based on expected returns in the competitive market - not based on expectations of cost recovery allowed by regulators of monopoly, vertically-integrated utilities. Not all projects in these queues are ultimately built, but the mix of resources in the queue represents the investments the market is prioritizing, according to RMI. That information provides a leading indicator of market trends for new power plants. ![]() Interconnection queues track new generation projects proposed to be added to regional grid. ![]() RMI looked at the interconnection queues for both ERCOT and PJM and found over the past two years there has been a dramatic shift away from building new gas fired generating plants and toward more renewable energy projects. “Monthly capacity in ERCOT queue by resource type.” Credit: Rocky Mountain Institute. ![]()
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