Beyond The Contract: Real-Time CPPA Performance Monitoring
Posted on 20 November 2023
Energy Analyst – RE24
Comes from a background of Environmental Engineering and specialised in Biohydrogen.
Corporate Power Purchase Agreements (CPPAs) are the most common mean of securing green energy directly from the source. It brings you more benefits, including saving your energy bills from open market fluctuations. It brings financial stability to the project developer and lets you stabilise your energy supply. A cost-competitive, clean energy adoption, aiding corporations in meeting sustainability goals.
Why should you track and monitor your CPPA performance?
Most of the businesses enter into CPPAs and yet do not pay much attention to post-commissioning CPPA performance monitoring. However, monitoring and tracking CPPA performance in real-time is crucial for several reasons, especially in terms of emission savings, renewable energy usage, and energy supply.
1. Emission reduction verification
Real-time monitoring allows you to verify the actual reduction in greenhouse gas emissions. This is crucial for meeting sustainability goals and commitments to reduce the carbon footprint. Accurate data on emission savings helps in demonstrating environmental responsibility and compliance with regulations.
2. Performance optimisation
Monitoring CPPA performance enables identifying any deviations from expected renewable energy production. By analysing real-time data, adjustments can be made to optimise the performance of renewable energy assets. This might involve fine-tuning operational parameters or addressing any issues that may arise promptly.
3. Financial performance
Tracking the performance of renewable CPPAs in real-time helps in assessing the financial viability of these agreements. You can evaluate the return on investment, forecast future financial benefits, and make informed decisions about the continuation or modification of existing agreements.
4. Energy supply reliability
Real-time monitoring ensures the reliability and stability of your energy supply. By actively managing and troubleshooting any issues as they arise, you can minimize disruptions to their energy supply, This ensures a consistent and reliable source of renewable power.
5. Contract compliance
Many renewable CPPAs have specific contractual obligations, such as minimum renewable energy production levels. Monitoring in real-time allows you to ensure compliance with these contractual terms. This reduce the risk of potential penalties for you and supplier. Lets you maintain a positive relationship with the supplier.
6. Transparent Reporting
Real-time monitoring facilitates transparent reporting of renewable energy usage and emission reductions. This transparency is important for stakeholders, investors, customers, and regulatory bodies who may be interested in understanding and validating an your business’ sustainability efforts.
7. Risk mitigation
Identifying performance issues early on through real-time monitoring helps in mitigating risks associated with energy supply disruptions or underperformance. Proactive management can prevent potential financial and operational risks, ensuring the stability of the energy supply chain.
8. Strategic decision-making
Access to real-time data lets you make strategic decisions based on current performance trends. Whether it’s expanding renewable energy capacity, renegotiating PPAs, or exploring new opportunities, having up-to-date information is essential for informed decision-making.
How to track and monitor your CPPA real-time?
The easiest approach is to subscribe for a PPA monitoring service. These services typically cover real-time data analytics, performance reporting, and risk management aspects. They ensure adherence to contractual obligations, assess financial viability, and provide insights for decision-making. PPA monitoring services play a pivotal role in maximizing the benefits of renewable energy investments. Also provide transparency, operational reliability, and the tools needed to meet sustainability goals effectively.
Get real-time CPPA performance data from RE24 Insights
We have automated PPA post-commissioning monitoring services through RE24 Insights. Our services extend to real-time performance tracking to ESG credibility.
1. Automated energy and emission data
RE24 has the authority to access energy meter readings in UK. We access your energy data under your consent. We can analyse and interpret your energy usage and emission data up to half hour granularity.
2. KPIs of your PPA agreement
You can identify how your CPPA is performing from energy supply, asset availability and REGO/GO certificates availability for energy you are procuring.
3. 24/7 Monitoring – Green Supply Verification
Within the green energy supply industry, greenwashing is commonplace. This poses a future business risk. RE24 Insights ensures greater ESG credibility and easier ESG reporting. We administer REGOs on your behalf, acting as an agent for the generator and making sure that all relevant REGOs are collected and transferred across to you.
Experience 100% visibility of your renewable energy procurement. Visit RE24 Insights.