Real estate executive Demetrios Panteleakis is president of MacMillan Group, LLC, a full-service real estate firm assisting clients with development, brokerage services, and project management. As part of his work at MacMillan Group, LLC, Demetrios Panteleakis developed an innovative underwriting process to mainstream the financing of utility scale solar installations. He maintains an interest in solar energy and its impact on the nation’s energy resources.
At the beginning of the year, the Federal Energy Regulatory Commission (FERC) issued Order No. 841, an ordinance that required energy grid operators to reconfigure their markets to allow energy storage facilities to participate more fully. The move will enhance competition in the wholesale energy market and allow stored renewable energy to be used in an efficient, cost-effective manner. Energy grid operators were given until Dec. 3, 2018, to comply with Order No. 841.
Energy experts have lauded Order No. 841 as an important step in modernizing the nation’s energy wholesale energy markets. By incorporating batteries and other storage technologies capable of rapidly switching between charging and discharging energy, renewable energy will be more accessible and will contribute more effectively to the energy needs of markets across the country. These technologies, when incorporated successfully, will contribute to the large-scale use of renewable energy by expanding transmission and increasing operational flexibility.
Prior to Order No. 841, ISO New England, the independent regional transmission organization responsible for the distribution of power in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont, already had been working toward incorporating storage facilities as a viable energy source. This fall, ISO New England filed revisions with FERC outlining its proposed changes, signaling the organization’s commitment to meeting FERC’s December deadline for compliance.
