- The current Texas heatwave and the demand on the power grid have reached record numbers, driving more consideration for renewable energy sources like wind and solar power
- Correlate Infrastructure Partners Inc. offers a complete suite of clean energy assessment solutions for commercial real estate to find the appropriate avenue for incorporating more energy-efficient capabilities
- The global renewable energy market, valued at $881.7 billion in 2020, is driven by the need to reduce carbon emissions and other greenhouse gasses
As unusually high temperatures sweep across the Southwestern U.S., especially Texas, new records for electricity demands are being reached. Texas grid operator ERCOT projects have recorded several peak days since the heatwave began in Texas, many of which surpass 75 gigawatts and have smashed records established in 2019. Thankfully, the state’s electric grid has so far been able to successfully meet high electricity demand, unlike previous years when extreme weather events created vulnerable situations that included blackouts (
https://ibn.fm/k1EfM).
Experts have concluded that the grid’s sustainability is partly due to the strong performance provided by alternative energy sources (wind, solar), which have been capable of generating close to 40% of the amount of electricity demand in the region.
Despite the backlash of legislators that wind and solar power are unreliable, the state has seen an influx of growing fleets and renewables coming in. In 2021, about 38% of the state’s power was fueled by alternative zero-carbon sources, like wind, solar, and nuclear, becoming a glaring opponent for natural gas, which fueled 42% during the same year. Experts are concerned that, while the grid was built to sustain extreme heat (more than cold), the August-like temperatures in early June may impact the long-term sustainable nature of the grid.
Companies like
Correlate Infrastructure Partners (OTCQB: CIPI), can help evaluate the grid’s sustainability in terms of green energy capabilities. Through its subsidiaries, Correlate and Solar Site Design, Correlate Infrastructure Partners offers a comprehensive suite of proprietary clean energy assessment solutions for the commercial real estate industry. The company also develops and finances renewable energy projects to make investment properties more efficient.
Correlate Infrastructure Partners has identified a tremendous market opportunity in reducing site-specific energy consumption and deploying energy generation and efficiency solutions at scale.
Studies show that commercial properties across the United States consume more than 35% of the generated electricity. Although retrofits for better efficiency are available, they are not happening at the rate or scale needed to begin reducing the amount of pressure put on the grids. Through Correlate Infrastructure Partners’ proprietary software and financial instruments, tackling the known issue of “split incentive” unlocks most of the addressable market, making solutions more feasible than they once were.
The company’s solutions have emerged against the backdrop of growing interest in clean energy worldwide. The global renewable energy market reached $881.7 billion in 2020 and is $1,977.6 billion by 2030. Presently, renewable energy sources are limited to heating, cooling, cooking, electricity, and the transport sectors, with increased interest for expansion growing.
Traditional fossil fuels release carbon emissions into the atmosphere, and reducing these helps reduce the impact of global warming. Worldwide efforts are being made to lower the release of carbon emissions and greenhouse gases, which is a primary driving force for the uptick in renewable resource adoption. Governments in developing and developed countries are switching focus to promoting renewable energy sources due to output efficiency, pollution reduction, and low maintenance costs (
https://ibn.fm/Qt2De).
For company information, visit the company’s website at
www.CorrelateInfra.com, including the following:
NOTE TO INVESTORS: The latest news and updates relating to CIPI are available in the company’s newsroom at
https://ibn.fm/CIPI
