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This document provides an overview on what constitutes 24/7 CFE. Identifying key roles and actors involved in 24/7 CFE and outline the main use cases, It describes the main technical issues to address in establishing trustworthy, actionable, and decarbonizing 24/7 CFE mechanisms, exploring solutions requirements for tracking clean energy from generation to final use through IT platforms and data management. It provides an overview of existing standardization work from both inside ISO and IEC and external organizations. And propose paths to standardize key elements of 24/7 CFE to facilitate their emergence, usage, and adoption worldwide in every grid and energy system; thereby advancing global efforts towards decarbonization and sustainability.
The imperative for 24/7 Carbon-Free Energy (CFE) in the battle against climate change is underscored by the urgent need to mitigate its impacts. Governments worldwide are pushing industries toward
decarbonization through carbon taxation and other regulatory measures, responding to increasing pressure from investors and consumers demanding sustainability and transparency. However, current mechanisms like Renewable Energy Credits (RECs) or EACs, and Power Purchase Agreements (PPAs) fall short in achieving full system decarbonization due to the variable nature of renewable energy (RE).
While EACs and PPAs have driven the deployment of wind and solar generation capacity, they do not ensure round-the-clock carbon-free energy consumption. The variability of renewable energy sources means that during periods of low wind or solar power, the gap is filled by electricity from the grid, often a mix of renewable and fossil sources. Moreover, businesses face increased exposure to electricity price volatility, particularly during periods of low renewable production, as they must complement their PPAs from the market at higher prices.
In response to these challenges, the concept of 24/7 CFE has emerged as a potential solution. Unlike
traditional mechanisms, 24/7 CFE aims to match electricity consumption with 100% carbon -free energy on an hourly and geographical basis, offering greater transparency and accountability. This concept, championed by companies like Google and supported internationally through initiatives like the 24/7 Carbon -Free Energy Compact, presents a paradigm shift in energy procurement and policy design (for example hydrogen regulations in EU and the US as being critical examples of 24/7 matching structures).
However, despite its potential, there are significant challenges to implementing 24/7 CFE. One major hurdle is the lack of a standardized definition across industries and regions. Different organizations have varying interpretations of what constitutes 24/7 CFE, ranging from matching electricity consumption with carbon-free sources every hour of every day to a more granular definition involving validation by meter/grid data and energy attribute certificates with a time stamp of one hour or less.
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