Kevala Partners with National Grid and Exelon Corporation on Total Carbon Accounting Framework
Kevala Inc., a leader in energy data analytics, has partnered with National Grid (NYSE: NGG) and Exelon Corporation (Nasdaq: EXC) to release a White Paper on a new carbon accounting framework. The 'Total Carbon Accounting' (TCA) method aims to enhance the precision of carbon intensity data for grid electricity, allowing better evaluations for decarbonization efforts. This innovative approach is currently being piloted by major utilities in North America and Europe. Kevala recently secured $21 million in Series A funding to further develop its platform and services.
- Partnership with National Grid and Exelon enhances credibility and market reach.
- Innovative Total Carbon Accounting method improves accuracy in carbon emissions data.
- Recent $21 million Series A funding will support product development and expansion.
- None.
SAN FRANCISCO, Nov. 4, 2021 /PRNewswire/ -- Kevala Inc., a nationwide leader in energy data and grid analytics, today announced the release of groundbreaking new carbon accounting research conducted in coordination with leading energy and utility providers National Grid (NYSE: NGG) and Exelon Corporation (Nasdaq: EXC). The participating companies' joint White Paper, "Total Carbon Accounting: A Framework to Deliver Localized Carbon Intensity Data," explores advanced analytic methods designed to better compute the carbon intensity of grid electricity with higher degrees of geographic and temporal granularity, ensuring the energy sector is best equipped to evaluate, prioritize, and measure decarbonization activities in the future.
"Capable of closely identifying where and when generated power is consumed, the 'Total Carbon Accounting' approach detailed in our research provides a unique basis for assessing all carbon emissions associated with electricity flowing throughout homes and businesses," said Aram Shumavon, Founder and Chief Executive Officer of Kevala. "Our innovative framework for carbon accounting will fundamentally redefine how governments, regulators, corporations, and individuals invest in and achieve emissions reductions across the grid. We are delighted to share the work of our consortium on this important topic."
Dr. Bob Currie, Vice President of Products and Strategy at Kevala, said, "Kevala exists to accelerate decarbonization, to do this we need to innovate and collaborate. Our platform and products are focused on expanding the granular understanding of locational and temporal variations in energy, making more accurate and specific carbon intensity data a natural next step."
The Total Carbon Accounting (TCA) method requires complex, simultaneous analyses of both (1) the physical flows of power across all individual nodes on the grid within a given point in time, and (2) the carbon associated with all generation sources – including those embedded in the distribution system and customer premises – as well as the larger transmission-connected units that participate in the market. In leveraging TCA's comprehensive methodology, key energy stakeholders can more accurately drive the matching of carbon-free power supplies to load forecasts.
"By utilizing extraordinarily granular datasets and new tools to trace power generation throughout the grid, industry reporting around emission reduction efforts will improve exponentially," said Duncan Burt, Chief Sustainability Officer of National Grid, "this data will create new insights that will help our communities understand the energy they use and ensure we can properly measure how we are achieving the goal of a lower carbon grid."
Current methods for carbon accounting utilize gross averaging across wide geographical areas and timeframes, thereby overlooking the temporal aspect of clean power generation, as well as the effects of closely connected renewable generation at the distribution level. By focusing on discrete analyses of all components in the balance of power supply and consumption constraints on the grid, TCA serves as a long-term foundation for enhancing carbon awareness in the United States and around the world. TCA is now being tested in pilot deployments by major utilities in both North America and Europe.
"With revolutionary advances in grid analytics, this approach changes the paradigm in terms of how carbon removal can be measured and understood for delivered power," said Sunny Elebua, Vice President of Strategy and Chief Sustainability Officer at Exelon. "We are excited to pilot this new capability and understand the opportunities it can create for energy generators and consumers, grid operators, and local communities along the path to power sector decarbonization."
Kevala's partnership with National Grid and Exelon Corporation on this White Paper and technology further demonstrates the growth and momentum of the company's Assessor platform, signaling an increasing drive for improved data assessment around the 'electrification of everything.' The TCA White Paper release follows several recent, high-profile corporate announcements from Kevala, including the closing of its
To view Kevala, National Grid, and Exelon Corporation's "Total Carbon Accounting: A Framework to Deliver Localized Carbon Intensity Data" White Paper, click here.
About Kevala Inc.: Kevala's mission is to provide an objective understanding of the production, delivery, and consumption of energy in support of the radical decarbonization of the global economy. With Kevala, all market participants can access accurate, unbiased, and actionable insights that enable faster and better decision making, ensuring the most sustainable, efficient, and equitable energy transition.
About National Grid: National Grid (NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through networks in New York, Massachusetts, and Rhode Island. National Grid is transforming electricity and natural gas networks with smarter, cleaner, and more resilient energy solutions to meet the goal of reducing greenhouse gas emissions. As part of their commitment to a clean energy future, National Grid is a Principal Partner for COP26, the United Nation's November 2021 global climate summit.
About Exelon Corporation: Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had a 2020 revenue of
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