Recorded on August 16, 2022
The clean energy transition is dramatically shifting the electric generation technologies used to meet demand and reliably operate the grid. Rapid cost declines in advanced energy technologies like wind, solar, and energy storage make them increasingly competitive choices for new generation additions, especially as fuel costs for traditional resources go up. While there has been considerable attention devoted to determining the reliability value of wind, solar, and energy storage, the methods used to evaluate the resource adequacy, or capacity value, of conventional thermal generating resources have not been formally reexamined or updated in decades.