Press Release: LevelTen Energy Releases Performance Monitoring Feature for Corporate Power Purchase Agreements (PPAs)
September 04, 2019
Industry’s first cloud-based solution provides instant access to all critical power purchase agreement (PPA) performance data, making it easier for corporations to monitor, report, and take action on renewable energy investments
SEATTLE – Sept. 4, 2019 – Today LevelTen Energy, an end-to-end renewable energy procurement platform, released LevelTen’s Performance Monitoring. This new feature provides instant access to all of the critical environmental, economic and energy production data that corporate managers need to effectively monitor and manage one or more PPAs. The software includes a dashboard of comprehensive performance metrics:
- Environmental Data: How many renewable energy certificates (RECs) the company has received and is expected to receive, and the emissions impact of the project (based on the Environmental Protection Agency’s AVoided Emissions and geneRation Tool, or AVERT). Performance Monitoring taps into the same data feeds that developers use to monitor how many megawatt hours of energy each wind turbine or solar panel is producing, which is used to calculate these metrics.
- Economic Data: Historical and forecasted settlement cash flow and net present value (NPV). LevelTen customizes each dashboard based on the price and terms of the corporation’s PPA and has direct access to regional energy market data. This means that the software can instantly calculate how much the corporation will owe – or receive – at the settlement period, as well as the current and forecasted NPV.
- Energy Production Data: The number of megawatt hours of renewable energy generated and sold by the project, and how many megawatt hours the project is expected to produce in the future. This data enables managers to calculate the corporation’s renewable energy usage and determine if the PPA was an effective hedge by comparing the corporation’s energy costs to the settlement cash flow.
In addition to providing a historical look at key performance metrics, Performance Monitoring is directly connected to the latest forward market curves, which means managers can see how a PPA is expected to perform for any given metric. This enables all internal stakeholders to take action (if needed) to reach their goals and manage their budgets. For example, if the renewable energy project has produced more RECs than expected, the sustainability team can adjust their targets accordingly.
“Before LevelTen’s Performance Monitoring, corporations had to compile and analyze spreadsheets of data from multiple sources to understand how a PPA is performing; a time-consuming process that left little time to take action if needed,” said Andrew Bishop, Director of Product at LevelTen Energy. “LevelTen’s team of software developers, data analysts and energy industry veterans worked together to bring this process to the cloud. By providing instant access to a comprehensive dashboard of performance data, we’re giving corporations the tools they need to more effectively manage their PPAs.”
If a corporation has more than one PPA on the books, Performance Monitoring will compile data from all of the PPAs into a single portfolio view. This enables management to see how the corporation’s overall portfolio of investments is performing, and how it could be improved with future investments.
In addition to Performance Monitoring, LevelTen Energy offers a variety of related services, including invoice monitoring for settlement payments, REC certification and retirement, and ongoing contract monitoring to ensure compliance among all parties.
For more information on Performance Monitoring, visit the LevelTen Blog.
About LevelTen Energy
LevelTen Energy is a renewable energy procurement platform that reduces the cost, complexity, and risk of renewable energy power purchase agreements through analytics, aggregation, and process best practices. Founded in 2016, LevelTen Energy is located in Seattle.