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Data Dialogue: Data management and statistical modeling techniques to connect energy efficiency resources with the wholesale energy markets
Thursday, September 27, 2018
11:45 am - 12:45 pm
Gross Hall, Ahmadieh Family Grand Hall, Room 330
Eric Butter (Modern Energy)
Lunch: 11:45 a.m. Talk: Noon Abstract: Individual actions to more efficiently consume electricity are the single largest opportunity to lower energy costs and decrease our collective impact on the environment. Throughout most of the developed world, electricity is traded through wholesale energy markets, but these markets do not have mechanisms to reward the disproportionate value of individual energy efficiency choices on energy prices - for example, the avoided transmission costs from a consumer installing a new LED lightbulb in their home. Our firm uses fundamental data management techniques to aggregate over 150m energy efficiency actions into financial products that can be valued by the wholesale energy markets. We simulate long-term capacity planning decisions by the wholesale markets to inform our financial investments. We design statistical models to trade against utility's consistent under-valuing of demand-side energy resources such as residential solar panels.