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At least 19 records

Performance of solar leasing for low- and middle-income customers in Connecticut

Policymakers are increasingly interested in expanding access to rooftop photovoltaic systems. This study analyzes the financial performance of a Connecticut Green Bank (CGB) solar leasing program, run in partnership with PosiGen, that targets low- and moderate-income customers. We show that this program has successfully reached underserved customers and has reasonable repayment rates given the credit characteristics of the participants. The CGB/PosiGen program reaches many more underserved customers than other PV financing programs in Connecticut.For example, the majority of CGB/PosiGen participants (58%) live in census tracts that have a median income of less than 80% of the area median income (AMI). In contrast, only 9% of participants in the other CGB solar financing programs live in these census tracts. Furthermore, the majority of CGB/PosiGen participants (56%) have FICO scores that would generally be considered non-prime (<670), whereas only 2% of participants in the other programs have similarly low scores. Credit, not income, is the primary factor that explains participants’ financial performance. Overall, we find that delinquency and annualized losses are higher for PosiGen (2.3% and 0.9%) than for other CGB programs (1.4% and 0.1%). Across the CGB programs, lower credit scores are associated with higher rates of delinquency and loss. Therefore, participants’ lower credit scores explain much of the program’s higher rates of delinquency and annualized losses. PosiGen leases perform competitively with market-rate solar and non-solar leases and loans. When compared to securities backed by market-rate PV loans and leases with similar amounts of seasoning, we find that the PosiGen leases have higher delinquency rates but comparable gross loss rates. The similarity in losses is notable given that loss rates for PosiGen leases were higher than those of the other CGB leases and loans. Rather than the PosiGen leases having high loss rates, other CGB leases and loans have unusually low loss rates. We also compare PosiGen to non-solar benchmarks, including indices of auto and consumer loans. We find that the PosiGen leases have significantly less delinquency than non-prime auto loans and have performance comparable to many consumer loans. The U.S. Department of Energy’s Solar Energy Technologies Office supported this research.

14 SOLAR ENERGY↗

Adaptive extension of leases for entries in a translation lookaside buffer

The described embodiments include a computing device with two or more translation lookaside buffers (TLB). During operation, the computing device updates an entry in the TLB based on a virtual address to physical address translation and metadata from a page table entry that were acquired during a page table walk. The computing device then computes, based on a lease length expression, a lease length for the entry in the TLB. Next, the computing device sets, for the entry in the TLB, a lease value to the lease length, wherein the lease value represents a time until a lease for the entry in the TLB expires, wherein the entry in the TLB is invalid when the associated lease has expired. The computing device then uses the lease value to control operations that are allowed to be performed using information from the entry in the TLB.

97 MATHEMATICS AND COMPUTING↗

Resource Occurrence and Productivity in Existing and Proposed Wind Energy Lease Areas on the Northeast US Shelf

States in the Northeast United States have the ambitious goal of producing more than 22 GW of offshore wind energy in the coming decades. The infrastructure associated with offshore wind energy development is expected to modify marine habitats and potentially alter the ecosystem services. Species distribution models were constructed for a group of fish and macroinvertebrate taxa resident in the Northeast US Continental Shelf marine ecosystem. These models were analyzed to provide baseline context for impact assessment of lease areas in the Middle Atlantic Bight designated for renewable wind energy installations. Using random forest machine learning, models based on occurrence and biomass were constructed for 93 species providing seasonal depictions of their habitat distributions. We developed a scoring index to characterize lease area habitat use for each species. Subsequently, groups of species were identified that reflect varying levels of lease area habitat use ranging across high, moderate, low, and no reliance on the lease area habitats. Among the species with high to moderate reliance were black sea bass ( Centropristis striata ), summer flounder ( Paralichthys dentatus ), and Atlantic menhaden ( Brevoortia tyrannus ), which are important fisheries species in the region. Potential for impact was characterized by the number of species with habitat dependencies associated with lease areas and these varied with a number of continuous gradients. Habitats that support high biomass were distributed more to the northeast, while high occupancy habitats appeared to be further from the coast. There was no obvious effect of the size of the lease area on the importance of associated habitats. Model results indicated that physical drivers and lower trophic level indicators might strongly control the habitat distribution of ecologically and commercially important species in the wind lease areas. Therefore, physical and biological oceanography on the continental shelf proximate to wind energy infrastructure development should be monitored for changes in water column structure and the productivity of phytoplankton and zooplankton and the effects of these changes on the trophic system.

17 WIND ENERGY↗

Using Financial Contracts to Facilitate Informal Leases Within a Western United States Water Market Based on Prior Appropriation

The ability to reallocate water to higher-value uses during drought is an increasingly important “soft-path” tool for managing water resources in an uncertain future. In most of the Western United States, state-level water market institutions that enable reallocation also impose substantial transaction costs on market participants related to regulatory approval and litigation. These transaction costs can be prohibitive for many participants in terms of both costs and lengthy approval periods, limiting transfers and reducing allocation efficiency, particularly during drought crises periods. This manuscript describes a mechanism to reduce transaction costs by adapting an existing form of informal leases to facilitate quicker and less expensive transfers among market participants. Instead of navigating the formal approval process to lease a water right, informal leases are financial contracts for conservation that enable more junior holders of existing rights to divert water during drought, thereby allowing the formal transfer approval process to be bypassed. The informal leasing approach is tested in the Upper Colorado River Basin, where drought and institutional barriers to transfers lead to frequent shortages for urban rights holders along Colorado's Front Range. Informal leases are facilitated via option contracts that include adaptive triggers and that define volumes of additional, compensatory, releases designed to mitigate impacts to instream flows and third parties. Results suggest that more rapid reallocation of water via informal leases could have resulted in up to $222 million in additional benefits for urban rights holders during the historical period 1950–2013.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

Assessment of Offshore Wind Energy Leasing Areas for Humboldt and Morro Bay Wind Energy Areas, California

The National Renewable Energy Laboratory (NREL) is providing scientific and technical services to the Bureau of Ocean Energy Management (BOEM) under an interagency agreement. The purpose of this report is to provide technical assistance in delineating potential lease areas from the California wind energy areas (WEAs) that can be competitively auctioned to wind energy developers. Each wind energy area is presumed to be technically and economically feasible for wind energy development based on the economic cost study performed by NREL in 2020. The subsequent analysis summarized in this report is intended to help BOEM maximize efficient offshore wind energy resource use and ensure fair return to the Government for use of the lease areas, by making recommendations for viable ways to divide the WEAs into auctionable commercial lease areas of approximately equal value. We considered several factors that affect the value of lease areas for wind energy development, including mean wind speeds, water depth, seafloor gradient, seismicity, hard substrate, and access to infrastructure. The largest impact to generating capacity came from the choice of mooring technology and the resulting setback from the lease area boundaries. Based on our setback assumptions, the generating capacity for a wind plant using catenary moorings could be nearly 30% less than with vertical moorings in Humboldt, or approximately 20% less in Morro Bay. The likely range of generating capacity is 1.5 to 3 GW in Humboldt and 3 to 5 GW in Morro Bay.

17 WIND ENERGY↗

Analysis of Lease Area Delineation Options in the Brookings Wind Energy Area

This study assesses options for delineating offshore wind energy lease areas within the Brookings Wind Energy Area (WEA). The Brookings WEA is one of two areas (Coos Bay and Brookings) offshore the Oregon coast that have been proposed for sale. The Coos Bay WEA is comparable in size to existing offshore wind lease areas in northern California, whereas the Brookings WEA is more than twice as large as the Coos Bay WEA. This study considers how the Brookings WEA can be divided to obtain two lease areas of relatively equal value, which would result in three Oregon lease areas of approximately equal size.

17 WIND ENERGY↗

Extreme Wind and Waves in U.S. East Coast Offshore Wind Energy Lease Areas

The Outer Continental Shelf along the U.S. east coast exhibits abundant wind resources and is now a geographic focus for offshore wind deployments. This analysis derives and presents expected extreme wind and wave conditions for the sixteen lease areas that are currently being developed. Using the homogeneous ERA5 reanalysis dataset it is shown that the fifty-year return period wind speed (U50) at 100 m a.s.l. in the lease areas ranges from 29.2 to 39.7 ms -1 . After applying corrections to account for spectral smoothing and averaging period, the associated pseudo-point U50 estimates are 34 to 46 ms -1 . The derived uncertainty in U50 estimates due to different distributional fitting is smaller than the uncertainty associated with under-sampling of the interannual variability in annual maximum wind speeds. It is shown that, in the northern lease areas, annual maximum wind speeds are generally associated with intense extratropical cyclones rather than cyclones of tropical origin. Extreme wave statistics are also presented and indicate that the 50-year return period maximum wave height may substantially exceed 15 m. From this analysis, there is evidence that annual maximum wind speeds and waves frequently derive from the same cyclone source and often occur within a 6 h time interval.

16 TIDAL AND WAVE POWER↗

An Analysis of High Opportunity Geothermal Leasing Areas on BLM and USFS Lands

This analysis, conducted by the National Renewable Energy Laboratory (NREL) with support from the U.S. Department of Energy (DOE) Geothermal Technologies Office (GTO), models potential geothermal deployment on BLM and USFS land for the years 2025, 2030, 2035, and 2050 under various scenarios using the Renewable Energy Potential (reV) model and the Regional Energy Deployment System (ReEDS) model. This report identifies potential future high opportunity geothermal leasing areas (i.e., Best, Middle, and Least identified opportunities) based on available data for geothermal resource potential, natural resource conflicts, and transmission access. In addition, this analysis considers the impacts of the Energy Policy Act of 2005's (EPAct 2005's) default competitive leasing provisions, specifically the impact this may have had on geothermal resource discovery outside of known geothermal resource areas.

15 GEOTHERMAL ENERGY↗

10 Green Leasing Tips for Building Owners

This document provides commercial building owners with best practices to implement green leasing language throughout their portfolios. This resource also offers guidance on establishing goals, tracking progress, and engaging with brokers and tenants.

Green Leases, Green Leasing, Benchmarking, Sustain↗

Assessment of Offshore Wind Leasing Areas in California [Slides]

This presentation summarizes an analysis of options for dividing Morro Bay and Humboldt Wind Energy Areas (WEAs) into offshore wind lease areas. The delineation process considered input from wind energy developers, physical characteristics of the sites, and potential effects of turbine layout and mooring technology selection on the energy generation capacity of each location. Two delineation options were assessed for the Humboldt WEA and four options for the Morro Bay WEA. The lease areas within each WEA were designed to have equal value and support approximately 1 gigawatt of generation capacity.

17 WIND ENERGY↗

Power Production, Inter- and Intra-Array Wake Losses from the U.S. East Coast Offshore Wind Energy Lease Areas

There is an urgent need to develop accurate predictions of power production, wake losses and array–array interactions from multi-GW offshore wind farms in order to enable developments that maximize power benefits, minimize levelized cost of energy and reduce investment uncertainty. New, climatologically representative simulations with the Weather Research and Forecasting (WRF) model are presented and analyzed to address these research needs with a specific focus on offshore wind energy lease areas along the U.S. east coast. These, uniquely detailed, simulations are designed to quantify important sources of wake-loss projection uncertainty. They sample across different wind turbine deployment scenarios and thus span the range of plausible installed capacity densities (ICDs) and also include two wind farm parameterizations (WFPs; Fitch and explicit wake parameterization (EWP)) and consider the precise WRF model release used. System-wide mean capacity factors for ICDs of 3.5 to 6.0 MWkm−2 range from 39 to 45% based on output from Fitch and 50 to 55% from EWP. Wake losses are 27–37% (Fitch) and 11–19% (EWP). The discrepancy in CF and wake losses from the two WFPs derives from two linked effects. First, EWP generates a weaker ‘deep array effect’ within the largest wind farm cluster (area of 3675 km2), though both parameterizations indicate substantial within-array wake losses. If 15 MW wind turbines are deployed at an ICD of 6 MWkm−2 the most heavily waked wind turbines generate an average of only 32–35% of the power of those that experience the freestream (undisturbed) flow. Nevertheless, there is no evidence for saturation of the resource. The wind power density (electrical power generation per unit of surface area) increases with ICD and lies between 2 and 3 Wm−2. Second, EWP also systematically generates smaller whole wind farm wakes. Sampling across all offshore wind energy lease areas and the range of ICD considered, the whole wind farm wake extent for a velocity deficit of 5% is 1.18 to 1.38 times larger in simulations with Fitch. Over three-quarters of the variability in normalized wake extents is attributable to variations in freestream wind speeds, turbulent kinetic energy and boundary layer depth. These dependencies on meteorological parameters allow for the development of computationally efficient emulators of wake extents from Fitch and EWP.

17 WIND ENERGY↗

Power production from the U.S. east coast offshore wind lease areas

The accompanying file include information regarding the set up of WRF simulations of power production and wake extents from offshore wind lease areas along the U.S. east coast, and also data presented in figures in the "Wind power production from the U.S. east coast offshore lease areas" paper and the associated MATLAB data processing code.

17 WIND ENERGY↗

Renewable Energy Potential Model: Priority Geothermal Leasing Areas ReEDs Results

This dataset contains the results of a study conducted by the National Renewable Energy Laboratory (NREL) to identify potential future priority geothermal leasing areas on Bureau of Land Management (BLM) and United States Forest Service (USFS) lands. The analysis uses the Regional Energy Deployment System (ReEDS) model to evaluate geothermal resource potential under different scenarios of resource depth and technology combinations through the year 2050. The study considers geothermal resource potential, natural resource conflicts, and transmission access to categorize areas into near, mid, and far deployment priorities. The dataset includes outputs from the ReEDS model, such as geothermal capacity, generation, system costs, and emissions under various economic and technical scenarios. Favorability site data with geographic coordinates and site-specific attributes (e.g., resource favorability, land type) are also provided. Supporting resources include a technical report detailing methodologies and assumptions, along with a link to the ReEDS model GitHub repository, which requires GAMS and Python software for execution.

15 GEOTHERMAL ENERGY↗

Battery Ownership Model - Medium Duty HEV Battery Leasing & Standardization

Prepared for the U.S. Department of Energy, this milestone report focuses on the economics of leasing versus owning batteries for medium-duty hybrid electric vehicles as well as various battery standardization scenarios. The work described in this report was performed by members of the Energy Storage Team and the Vehicle Simulation Team in NREL's Transportation and Hydrogen Systems Center along with members of the Vehicles Analysis Team at Ricardo.

33 ADVANCED PROPULSION SYSTEMS↗

Roof-Mounted Solar Array -- Leased Building

This case study describes how WDT Indio retrofitted its 40-year-old, 32,000-square-foot building. It discusses how the company installed a 138-kilowatt solar photovoltaic array to offset 80% of the building's energy consumption, resulting in faster leasing due to high tenant demand for efficient spaces.

office, commercial, solar PV, roof-mounted, photov↗

Implementing Solar in Leased Buildings: Community Solar Provides Big Benefits

This case study describes a renovation conducted by a commercial office tenant, Nixon Peabody, to cut energy costs in their leased office space. It details the process through which they worked with their property owner, Brookfield Properties, to install a rooftop solar PV system to help maximize their energy savings.

solar PV, photovoltaic, commercial, office, leased↗

Leasing Into the Sun: A Mixed Method Analysis of Transactions of Homes with Third Party Owned Solar

This analysis is the first to examine if homes with third-party owned (TPO) PV systems are unique in the marketplace as compared to non-PV or non-TPO PV homes. This is of growing importance as the number of homes with TPO systems is nearly a half of a million in the US currently and is growing. A hedonic pricing model analysis of 20,106 homes that sold in California between 2011 and 2013 is conducted, as well as a paired sales analysis of 18 pairs of TPO PV and non-PV homes in San Diego spanning 2012 and 2013. The hedonic model examined 2,914 non-TPO PV home sales and 113 TPO PV sales and fails to uncover statistically significant premiums for TPO PV homes nor for those with pre-paid leases as compared to non-PV homes. Similarly, the paired sales analysis does not find evidence of an impact to value for the TPO homes when comparing to non-PV homes. Analyses of non-TPO PV sales both here and previously have found larger and statistically significant premiums. Collection of a larger dataset that covers the present period is recommended for future analyses so that smaller, more nuanced and recent effects can be discovered.

14 SOLAR ENERGY↗