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Research Highlights
Best Practices in Electric Sector Load Forecasting
November 2024
This Applied Economics Clinic (AEC) white paper examines best practices of annual and peak electric demand forecasting and provides additional examples for South Carolina. AEC asserts that conventional load forecasting methods must be updated to reflect the rapid transformation of demand trends and real-word conditions. To address these concerns, AEC recommends eight best practices to ensure thorough, transparent, and accurate load forecasts: model and data transparency; emerging policies and technologies; large industrial loads; non-energy constraints; forecasting innovation; uncertainty analysis and multiple future scenarios; post-modeling adjustments; and stakeholder review. Adopting contemporary best practices in load forecasting benefits consumers, utilities and regulators with lower costs, increased reliability, and improved facilitation of state-mandated decarbonization plans.
Energy Storage Equity: An Assessment of Three Massachusetts Programs
September 2024
On behalf of the Clean Energy Group (CEG), Researcher Tanya Stasio, PhD, Assistant Researcher Elisabeth Seliga, Principal Analyst Bryndis Woods, PhD and Principal Economist Liz Stanton, PhD assessed equity provisions in three Massachusetts energy storage-incentivizing programs: the Solar Massachusetts Renewable Target (SMART) program, the Clean Peak Standard, and ConnectedSolutions. AEC finds that three energy programs assessed lack mandates, targets and reporting requirements to support the Commonwealth’s commitment to equitable access to clean and efficient energy. AEC makes eight recommendations to better align Massachusetts’ energy storage programs with its equity commitments, as well as to draw on lessons learned and best practices from similar programs in other states.
Testimony on Rhode Island Energy's 2024-2025 Last Resort Service Procurement Plan
September 2024
On behalf of the Conservation Law Foundation, Principal Economist Elizabeth A. Stanton, PhD, submitted expert testimony before the State of Rhode Island Public Utilities Commission in response to the Narragansett Electric Company d/b/a Rhode Island Energy’s 2024-2025 Last Resort Service Procurement Plan. In her testimony, Dr. Stanton asserts that the methodology used to create the LRS Procurement Plan and rate design must be updated “to incorporate new policy goals and legislative directives to be considered by the Commission and Division and subsequently applied to Rhode Island Energy (‘RIE’).” To address these concerns, Dr. Stanton recommends the Commission initiate a process to evaluate competing interests and policies and reach a transparent decision to guide future LRS procurement and rate design.
AEC Areas of Expertise
All-sector energy planning
Benefit-cost analysis
Capacity expansion modeling
Dispatch modeling
Economic impact analysis (including REMI and IMPLAN)
Economics of energy resources
Electricity system planning (including integrated resource plans)
Emissions accounting
Energy and capacity markets
Energy efficiency planning
Energy policy analysis
Energy-water nexus
Environmental regulations
Equity and consumer impact analysis
Pipeline economic analysis
Renewable energy
Utility cost of capital
Utility finance analysis
Valuation of externalities
AEC Services
Analysis
We provide in-depth analysis of the economics, environmental, and equity impacts of all types of energy resources and policies. Read more →
Modeling
Clinic staff regularly analyze a number of third-party power sector model inputs and outputs used to conduct resource planning analyses, forecast electricity market prices, predict emissions output, and evaluate the need for future electric and natural gas capacity. . Read more →
Testimony
We provide expert testimony in state and federal regulatory proceedings on a variety of issues. Read more →
Public Reports
We provide public-facing reports for our clients, including economic assessments of existing energy resources and economic and emission impacts of environmental regulations. Read more →
Contact | Address: Applied Economics Clinic, 6 Liberty Sq., PMB 98162, Boston, MA, 02109 | Email: info@aeclinic.org