Renewable and battery storage business cases have made leaps and bounds in the past few years, especially with the passage of the IRA. As a result, RTOs are being faced with rapidly increasing volumes and complexities of interconnection requests which have impaired queue processing times: where a generator could previously enter and exit the queue in under 2 years, they now have to wait more than 3 years, or in some cases, over 5 years, for approval. FERC, along with some ISOs like MISO and PJM, has taken action on this front and announced major reforms.
In this redacted version of our report, we present an overview of the recent revisions to the FERC pro forma on interconnection queue processes, the changes currently underway in MISO and PJM, and the potential impact of these reforms on project finance.
If you are interested in the full report or have any other questions, please reach out to JT Wood.