The Loan Programs Office (LPO) under the U.S. Department of Energy is tasked with providing financing to kickstart various critical energy technologies that can transform the sector in a quicker and more efficient manner. LPO's Senior Advisor on Virtual Power Plants (VPPs), David Nemtzow, is ensuring that acceleration is hitting every component of the VPP sector, from distributed generation to EV charging to demand response programs, and more. David joins the Energy Central Power Perspectives™ Podcast to highlight the results of LPO's general work and why he's so dedicated to a future with greater penetration of VPPs.
As the industry moves forward towards goals that cannot be missed, namely the reliable and affordable delivery of a cleaner energy mix, shifting away from the centralized power plant paradigm seems inevitable. Simultaneously, the rise of smart and connected technologies is allowing the virtual power plant model to leapfrog from theoretical to practical. But, as David notes, LPO is continuing to provide the market nudge necessary to bring such technologies to market earlier. In this episode, for example, David highlights:
"With virtual power plants, it's a relatively new field. A lot of commercial lenders aren't ready for it yet. They don't know what they are. They don't know what the risks are. They don't know who the players are. They don't know how to separate the wheat from the chaff, the good from the half-baked. That's the role that we're going to play. But when we're done, Jason, we're going to get out of the business, and we will have transformed the market. We will be in a place where, I'm just going to name names, the Citibanks, the Chases, the Credit Suisses, the Goldman Sachs, I don't care who you want to pick, the savings and loan down the block can make these loans because they will understand the risks and the opportunities. That's our job is to transform the financial marketplace for clean energy."
This entry into the podcasts, like all of the series episodes, can be found on all major podcast outlets, including iTunes and Spotify, or it can be listened to directly on the Energy Central platform (where we also feature a written transcription if you'd prefer to read). Give it a listen and share your reaction in the comments.
Episode #97: 'Providing a Jolt to Virtual Power Plants from DOE's Loan Programs Office' with David Nemtzow, Senior Advisor at DOE's LPO [an Energy Central Power Perspectives™ Podcast]
About Energy Central Podcast Series:
The 'Energy Central Power Perspectives™ Podcast' Series features conversations with thought leaders in the utility sector. At least twice monthly, we'll connect with a Power Industry Leader to discuss compelling topics that impact utility professionals. Some podcasts may be a continuation of thought-provoking posts or discussions started in the community by an Energy Central Community Member. Others may be with an industry leader interested in sharing their expertise and doing a deeper dive into hot topics or issues relevant to the industry.
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