A Take on NextEra Energy
NextEra energy sets big goals, delivers measurable results, and holds itself at very high standards. In recent years, investors and other stakeholders have shown increased interest in understanding objectives, products, and standards within the framework of ESG reporting. This report is designed to highlight the core ESG strategy and disclosures based on feedback from the investment community and other stakeholders. They have believed in the future of renewable energy for a very long time. Wind and solar power have made economic sense for customers in many parts of the country for years. As technology has improved and costs have come down, even more customers have realized the benefits of clean energy. Today, NextEra Energy has a path to an utterly emissions-free power sector built upon the combination of low-cost renewables with various forms of energy storage. The most mature of these new technologies is battery storage. Over the past several years, this company has paired battery storage with wind and solar projects in various configurations to deliver additional value to customers and give grid operators more options to maintain reliability. The capability to store renewable energy at a utility scale for even a few hours has already significantly improved the economics of wind and solar projects to meet their customer demand for renewable energy. NextEra Energy expects that battery storage alone, combined with renewables, could enable a power sector up to 85% emissions-free. Short-term energy storage applications are proven winners for customers and the environment, and long-term energy storage solutions have even more promise.
In just the past year, NextEra Energy has launched several pilot projects to prove the feasibility of using renewable energy, water, and electrolysis to produce green hydrogen for several applications. Their next steps would be to learn how green hydrogen can best be created and stored. Then, green hydrogen can replace some of the fuel powering the combined-cycle gas turbines and become a reliable feedstock for various industrial uses. They can also learn how fuel cells powered by green hydrogen can decarbonize vehicle fleets. By bringing focus on whether these and other long-term energy storage solutions can one day deliver a power sector that is 100% emissions-free, decarbonize large segments of the transportation and industrial sectors will represent a bold step forward to confronting climate change. Trillions of dollars of additional investment in wind and solar energy will be necessary to pair with the various energy storage solutions to prove the best value for their customers. Massive capital investment opportunities could be terrific for their customers, excellent for shareholders, extraordinary for the environment, and remarkable for the energy security of every nation. NextEra Energy is best positioned to build out the infrastructure required to make this vision a reality because they have a proven strategy that drives their team every day and has delivered value to all their stakeholders over a very long period.