It can take nearly half a decade for new resources such as solar and wind projects to connect into the utility grid. This lengthy interconnection process hamstrings the development of our energy systems during a crucial time for growth. There’s good news, though: Utilities can bypass the interconnection process by siting new clean generation at the same point of interconnection as existing or retiring generators. Using the existing fossil asset interconnection rights can cut the interconnection time down to less than one year. We call this project development strategy “clean repowering.”

Our analysis shows that the clean repowering opportunity, propelled by Inflation Reduction Act (IRA) incentives and programs, offers the potential for 250 GW of new renewable energy projects without requiring any transmission upgrades. This translates to an average of $12.7 billion in savings nationally every year for the next 10 years starting in 2025. Vertically integrated utilities alone are projected to realize $46 billion in savings in net present value (NPV) between now and 2054.