How new climate modeling can shape the renewable energy landscape

New forecasts for weather patterns could help the solar and wind industries make better investment decisions in the long term. Climate trends are accelerating rapidly. Global temperatures hovered consistently at around 1.5 degrees above pre-industrial levels from January to August. Then in September, they shot up to 1.8 degrees. Dr Zeke Hausfather, research scientist at Berkeley Earth, opined in a recent NYT piece that global warming has actually accelerated in the last 15 years, rather than continuing at a gradual pace.  The effects of climate change are no longer something for the next generation to worry about; they’re being felt here, and now. As a result, it’s crucial to deploy renewables as quickly and efficiently as possible. This involves continuing to invest in the two largest sectors – wind and solar.  There’s a strong correlation between the effectiveness of these energy sources and the weather predictions we make to inform our long-term planning and investment decisions.  Anticipating and planning for variability in supply and demand comes from analyzing historical weather and climate data.  On the Interchange Recharged today, we are joined by Rob Cirincione, founder and CEO of Sunairio. They have a model which they say can make better predictions for solar and wind demand and supply, helping the industry to make better investment decisions and deploy more quickly.  Traditionally, historical data has been the primary tool for making predictions about future weather events and their possible impact on supply-demand imbalances. Historical data has its limits and does not always provide an accurate representation of future weather events. With climate change accelerating faster than we thought, and with a limited amount of historical data available, there’s a need for modeled projections to fill this gap. For instance, in the solar industry, historical average models like the typical meteorological year (TMY) are used to predict future performance and returns. However, the assumption that the climate is the same as it was when the model was developed is flawed. Therefore, it's essential to continually measure and observe the impact of climate trends on irradiance and thus, the performance and returns of solar projects. Rob explores the tools used to predict weather-driven variability in energy, what the solar industry currently uses to predict long-term performance, how to apply the predictive model Sunairio is developing to make better investment decisions, and how progress with decarbonisation efforts could impact future forecasts. Subscribe to the show on your podcast platform of choice and visit woodmac.com/podcasts to listen back to previous episodes. Join in the conversation on X – we’re @interchangeshow 00:00:00: Introduction to the show 00:00:01: Rob's career and the start of Sunairio 00:00:06: The weather's impact on energy supply and demand 00:00:37: Tools used to predict weather-driven variability in energy 00:01:01: The limitations of using historical weather data 00:01:47: The reason for creating Sunairio 00:02:02: Sunairio's role in the industry 00:03:18: Investment analysis and planning in regards to weather events 00:03:32: Current practices in solar industry 00:04:38: Flaws in using historical data for future predictions 00:07:18: The impact of changing climate trends on the solar performance 00:09:02: The importance of this analysis for investors and project managers 00:09:30: The risk of production underperformance in renewable projects 00:10:49: Sunairio's use of statistical climate model for predictions 00:11:16: Discussion on weather forecasting and its impact on energy production 00:12:20: Using statistical approach in climate modeling for energy production 00:12:42: Applying the predictive model in decision-making 00:14:27: The forecasted production gap and how it affects renewable energy goals 00:16:13: Coverage and capabilities of the modeling system 00:17:49: Expansion and future expectations for the renewable energy markets. 00:20:01: Geographical challenges and solutions in energy production See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Clean tech, green finance and energy innovation are the three lanes on the road to a successful global energy transition. At the intersection of these lanes is a place where ideas on finance, technology and policy are shared and debated. That intersection is Interchange Recharged.  Sylvia Leyva Martinez, principal analyst at Wood Mackenzie, invites visionaries, entrepreneurs, policy-makers and energy analysts to explore the newest developments in renewable technology, explain the ideas on global energy policy that could accelerate the energy transition, and identify new funding and financial models that could solve the biggest challenges we face on the way to net zero.  Sylvia and her guests bring you data and forecasts on clean technology, climate science, and offer predictions on the build out of utility-scale projects and the future of green finance. What impacts do the annual UN Conference of the Parties have on decarbonisation goals and climate change? What will COP30 bring? What’s happening in global EV adoption and development? What’s the forecast for solar energy, one of the major success stories of renewable energy in the last ten years? What does the data tell us about the future of hydrogen, of nuclear, or of low-carbon power?  These are examples of the insights and detailed analyses you can expect bi-weekly on Tuesdays at 7am ET.  If you like The Energy Transition Show, Catalyst with Shayle Kann, The Big Switch from Columbia University, Open Circuit with Stephen Lacey or The Green Blueprint, you’ll enjoy Interchange Recharged.  Want to get involved with the show? Reach out to podcasts@woodmac.com to: Bring Sylvia and Interchange Recharged to your event Be a guest on the show  Sponsor an episode Ask a question to Sylvia or one of our guests  Check out another leading clean tech global podcast by Wood Mackenzie, Energy Gang, at woodmac.com/podcasts/the-energy-gang Wood Mackenzie is the leading global data and analytics solutions provider for renewables, energy and natural resources. Learn more about Wood Mackenzie on the official website: https://www.woodmac.com/