The Department of Energy (DOE) said Tuesday it plans to include other technologies such as liquefied natural gas (LNG) in the fourth Green Energy Auction (GEA) 4 in the fourth quarter of 2024.
It said the auction is designed to cover integrated renewable energy and energy storage system (IRESS), a comprehensive energy solution that combines renewable energy technology with energy storage systems (ESS).
It said IRESS involves the integration of renewable energy sources with energy storage technologies like batteries, flywheel or pumped storage hydropower systems.
The agency said the integration allows renewable energy plants to optimize their operations by storing excess energy generated during peak production periods and utilizing it when needed, thus reducing the required capacity from the grid.
The DOE said that by combining renewable energy (RE) and energy storage, IRESS enhances the stability and reliability of the energy system, enabling a more consistent and efficient supply of power.
Energy Undersecretary Rowena Cristina Guevara said the DOE, in collaboration with development partners, is studying the design and economic viability of IRESS.
“Additionally, with the anticipated high entry of renewable energy into the grid resulting from the GEA, the DOE is considering LNG technologies for the upcoming GEA-4,” the DOE said.
The DOE is conducting a series of studies and simulations on several impacts, such as price, dispatch, contracts, energy and capacity.
The DOE conducted two rounds of auction in the last two years which generated a total of 5,306 MW RE capacities committed to deliver power in 2024 to 2026. Additional capacities will be auctioned in third quarter this year.
The GEA-3 caters to non-FIT eligible RE facilities such as geothermal, impounding and pumped-storage, as well as run-of-river (ROR) hydro which is a FIT eligible technology.
“These developments, along with the outcomes of the auctions, demonstrate that the GEA program can provide a mechanism in promoting the increased use of RE resources, contributing to the ultimate goal of achieving energy security and reliability,” the DOE said.
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