Measuring Innovation Progress to Guide Future Investment: Evaluation of EPIC Benefits Methodology
Industrial Economics, Incorporated
Recipient
Cambridge, MA
Recipient Location
$2,999,989
Amount Spent
Completed
Project Status
Project Result
In 2020, the project team completed a suite of tools and methodologies for evaluating EPIC's benefits to ratepayers and conducted a number of case studies demonstrating the application of the tools; the case studies estimate benefits from a selection of EPIC projects including energy efficiency and renewable generation technologies. The project team presented the suite of tools, methodologies, and results to CEC staff as well as at a public workshop hosted by the CEC. EPIC staff will conduct the final review of the projects tools, methodologies, and results to provide feedback as the project team finalizes their deliverables and final reports due in the first half of 2021.
The Issue
The primary goal of the EPIC program is to provide benefits to electric ratepayers of California investor-owned electric utilities. However, evaluating ratepayer benefits of EPIC-funded projects presents many challenges. First, the EPIC project portfolio is diverse and complex, spanning many different technology areas in various stages of research. Second, there is often a significant lag between a research investment and the realization of tangible benefits, as it often takes several years for an innovation to be adopted in the market or utilized in practice. Finally, some of the intangible benefits of research such as knowledge gained are important, but difficult to quantify.
Project Innovation
This project will provide guidance and independent analysis to develop a robust, standardized methodology to evaluate the electric ratepayer benefits attributable to EPIC-funded projects based on best-in-class methods, data, and analytical tools. This methodology will help the Energy Commission better evaluate how well the EPIC program is meeting its goals and removing barriers to further implementation of advanced technologies to meet the state's energy and climate policy goals.
Project Benefits
This project will lead to technological advancement and breakthroughs to overcome barriers to the achievement of the state's statutory energy goals by developing tools to quantify the benefits of EPIC projects and identifying technologies that are likely to have the greatest impacts.
Economic Development
This project will help the Energy Commission better understand the benefits to ratepayers resulting from projects funded by the EPIC program and will help the Energy Commission make more efficient and effective use of future EPIC funds.
Key Project Members
Angela Vitulli
Subrecipients
Enterprise Futures dba iCatalysts
EMI Consulting
Jai J. Mitchell Analytics
Emerald Energy Consulting, LLC
McHale Consulting
360 Innovation LLC
Atlas Public Policy
