Project Sunfire

Project Sunfire

Project Sunfire 500 334 Global Climate Finance Accelerator

Objective

To develop late stage, clean energy projects that benefit tribal communities.

Opportunity

  • Untapped potential Reaching 90% or more carbon-free electricity by 2035 — a key element of achieving a clean energy economy — would require 60-70 GW of new renewables per year over the next decade, as well as other forms of carbon-free power in the US. Figure 2-3 illustrates the growth in renewables, particularly solar and energy storage, in the US.
  • Green economyAccording to Deloitte, clean energy jobs represented more than half of energy jobs added in 2023, with hiring for renewable energy — particularly solar — at twice the levels of the fossil fuel industry.
  • Market demand 2024 saw 100% clean electricity commitments and enhanced vehicle emissions standards at the state level.
  • Vermont updated its renewable portfolio standard to require that utilities achieve 100% clean energy by 2035.
  • Maryland’s governor signed an executive order requiring the state to develop a framework for a 100% clean energy standard by 2035.
  • Massachusetts passed a climate omnibus bill that is, in part, intended to accelerate clean energy deployment through permitting reform.

Climate and socio-economic impacts

  • Reduces risk of stranding renewable energy assets
  • Enhances energy resilience in disadvantaged communities
  • Creates revenue-generating opportunities for Indigenous communities
  • Replicable across the country with opportunities to acquire additional assets from established developer
  • Presents cross-border (US/Canada) collaboration opportunities
Project Maturity - BESS
Project Maturity - Solar