MERIDIAN CLIENT GOOGLE RELEASES RENEWABLE ENERGY WHITE PAPER 04/24/13
MERIDIAN CLIENT GOOGLE RELEASES RENEWABLE ENERGY WHITE PAPER
MERIDIAN CLIENT GOOGLE RELEASES RENEWABLE ENERGY WHITE PAPER 04/24/13
Google Proposes New Approach to Renewable Energy Purchases
in News Departments > New & Noteworthy
by Renew Grid on 24 Apr 2013
Internet giant Google, which has invested over $1 billion in renewable energy to date, has proposed a new tariff-based approach to allow companies to purchase electricity generated by renewable sources directly from utilities.
In a white paper, Google outlines common methods through which companies procure or support renewable energy, including on-site generation, renewable energy certificates (RECs) and power purchase agreements. However, the company says, these methods can be cumbersome.
“First, companies still must accept the generation mix offered by the local electric utility, even if it includes relatively few renewables. In some locations, the generation mix can be quite carbon-intensive,” Google says in the white paper. “Second, companies cannot request and procure renewables directly from the local utility in a transparent and straightforward manner, where they know how much renewable power they are getting (and from where).
“With few exceptions, utilities and the state commissions that regulate them do not provide a way for large users to request renewable power,” the company continues. “In short, even though companies want renewable power and are willing to pay for it, the product is not being offered.”
The company believes a voluntary “renewable energy tariff” program would prove a better alternative to the aforementioned energy-procurement methods. Through such a tariff-based service, Google says procurement costs would be passed on to companies that choose to enter the program and purchase renewable energy, rather than on to other utility ratepayers. These costs would be transparent to the participant and at a rate reflecting “the actual cost of service.”
Google’s proposed structure for a tariff also includes an integrated service that provides electricity both from dedicated renewable energy sites and from supplemental, non-renewable sources when necessary to ensure continuous service. This, Google says, would help mitigate various issues with intermittent renewable energy generation.
Under Google’s proposal, companies would be able to choose which renewable energy resources they want to purchase or support, as well as receive all associated RECs to ensure the certificates are retired.
“We believe that a renewable energy tariff will provide a powerful tool for accelerating the growth of renewable energy,” Google says in its white paper. “It offers a solid and workable framework for both utilities and their large customers seeking to procure renewables.”
The company notes that it is up to regulatory bodies, such as state utility commissions, to determine a framework for a renewable energy tariff, but Google plans to work with all stakeholders to get such a tariff established.
To read Google’s white paper, click here.
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May 2024 Meridian Investments, Inc. is pleased to announce the final closing of R4 Housing Partners XXI, LP. R4 Housing Partners XXI, LP raised $296,800,000 of investor equity and will acquire interests in twelve affordable multi-family rental properties located in ten states: Alaska, California, Georgia, Iowa, Illinois, Louisiana, Maryland, Minnesota, Missouri, and Texas. Eight of the fund’s thirteen investors have invested in prior R4 offerings. When completed the [twelve] identified projects will result in the creation and preservation of 2,320 affordable housing units for families and seniors. The closing of R4 Housing Partners XXI, LP increases R4 Capital’s affordable housing AUM to over $5.5 billion with over 120 investors. About Meridian Investments, Inc. Meridian Investments, Inc., a FINRA registered broker dealer and advisor founded in 1981, has completed over $37 Billion in equity placements to over 250 institutional investors. Meridian, a provider of placement agency services for the primary and secondary LIHTC market, as well as the renewable and alternative energy tax credit equity market, has offices in Washington, D.C., Atlanta, Chicago, and Louisville. https://www.meridiancompaniesllc.com
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July 22, 2021 Meridian Investments, Inc. is pleased to announce the closing of R4 Housing Partners XVI, LP. R4 Housing Partners XVI, LP raised $325,325,000 of investor equity and will acquire interests in twenty-three affordable multi-family rental properties located in sixteen states. Nineteen corporate investors participated in the fund. Thirteen of the fund’s nineteen investors have invested in prior R4 offerings. When completed the twenty-three projects will result in the creation and preservation of 2,582 affordable housing units for families, seniors, veterans, homeless or formerly homeless individuals, victims of domestic abuse, and persons with special needs. At least fifteen of the twenty-three properties will provide various supportive services on-site to the residents at no additional cost. Supportive services to be provided will include adult education and literacy programs, employment assistance, afterschool programs for children, health and nutrition programs, financial literacy assistance including homeownership and household budgeting programs. The closing of R4 Housing Partners XVI, LP increases R4 Capital’s affordable housing AUM to over $4.0 billion for approximately 100 investors. Through July, R4 Capital has closed more than $427 million in LIHTC investments for 2021. Meridian Investments, Inc., a FINRA registered broker dealer founded in 1981, has completed approximately $25 Billion in equity placements to over 175 institutional investors. Meridian, a leader in primary and secondary LIHTC transactions and renewable and alternative energy tax credit equity, has offices in Boston, Washington, D.C., Atlanta, Chicago, and Louisville. https://www.meridiancompaniesllc.com
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