We have considerable experience designing, implementing, monitoring and evaluating programs that are intended to support a greater reliance on renewable energy. Areas of expertise include photovoltaics (PV), fuel cells, renewable energy credits ("green tags"), carbon credits, financing of renewable energy projects, and market-based incentives for power producers, suppliers, and customers. We have undertaken projects in the United States as well as developing countries. Evaluation of the International Finance Corporation's Sustainability Business Innovator
Recent projects
Planning for the Massachusetts Renewable Energy Trust Fund
The legislature in Massachusetts created the Renewable Energy Trust Fund (RETF) as part of efforts to restructure the electric utility industry in the Commonwealth. Funded through a wire charge, the RETF will have roughly $250 million to invest in various initiatives designed to spur greater reliance on renewable energy sources and promote the growth of the renewable energy sector. Nexus Associates was asked to help develop an overall strategy for the RETF and a detailed plan for the first year of operation. The plan is based on an extensive analysis of the renewable energy sector. It defines the objectives of the fund, operating principles, major initiatives, specific funding programs, governance structures, management and staffing, and operating budget.
Nexus Associates was hired by MTC to assist in the design of a formal monitoring and evaluation system for programs and projects undertaken by the RETF. As part of this effort, the firm developed program logic models for selected programs, defined a set of performance indicators for each program, formulated a data collection strategy, developed a conceptual design for management information systems, and established specific reporting requirements.
In June 2006, the IFC Board of Directors approved the creation of the Sustainability Business Innovator (SBI) Facility to develop and test new approaches to achieving environmental and social aims, and to encourage the private sector in emerging markets to adopt approaches that have proven successful. One month later, the SBI Division was established within the Environment and Social Development Department (CES). The SBI Division has undertaken projects in six practice areas – biodiversity, cleaner technology, social responsibility, sustainable energy, sustainable investing, and women in business – with funding from the SBI Facility and other sources. IFC retained Nexus Associates to conduct an independent review of the performance of SBI since its inception. In keeping with the terms of reference (TOR), the mid-term review addresses issues related to the relevance, effectiveness, sustainability, efficiency, and organizational performance of SBI. The review is based on interviews with IFC managers and staff; analysis of budget and expenditure data; analysis of SBI project portfolio and review of M&E data; desk reviews of selected projects; survey of task team leaders (TTLs) outside of SBI; and survey of donors.
Assessment of the technical and financial feasibility of using fuel cells at a hospital
In conjunction with Clean Energy Group and MTechnology Inc., Nexus Associates assessed the costs and benefits of using work fuel cells to provide premium power at the University of Pittsburgh Medical Center. The analysis included an assessment of the hospital's current risk of power outages, critical and/or sensitive systems and equipment, current backup power supplies, and potential damages and losses arising from power interruptions. Results will be used as a foundation for decisions regarding needed investments.
Assessment of Tradable Renewable Energy Credits
At the request of the Massachusetts Renewable Energy Trust Fund, Nexus Associates prepared a report examining the market for attributes associated with the generation of electricity using renewable energy technologies. The report defined various aspects of generation attributes and assessed the potential for trading attributes in markets driven by regulatory compliance and voluntary transactions.
Analysis of the photovoltaic industry
Nexus Associates prepared an analysis of the photovoltaic (PV) industry for the Massachusetts Renewable Energy Trust. The analysis included an assessment of PV technologies, current and projected costs, industry structure and participants, and current programs to promote the use of PV systems in the United States and abroad. The study provides a strong foundation for a comprehensive plan to advance the regional PV industry and increase reliance on PV systems to meet regional energy requirements.
The role of tradable green tags in project financing
Nexus Associates prepared a report for the Clean Energy Group and the Clean Energy Funds Network on the potential role of green tags as a source of revenue for renewable energy projects and the implications for project financing. This included an analysis of the value of green tags, existing trading mechanisms, relationships to ISO and regulatory authorities, necessary market infrastructure, and the potential roles of state funds with respect to green tags, including possible joint activities.
The role of leases in financing renewable energy projects
Nexus Associates prepared a report for the Clean Energy Group and the Clean Energy Funds Network on the potential of various types of leasing arrangements as a means of financing fuel cells and PV systems on the customer-side of the meter. This included an analysis of the potential benefits of leasing, different lease structures, existing models, and the implications for state funds.
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