Innovation

Leading the way in renewable energy innovation, NextEra Energy makes a substantial contribution to the UN Sustainable Development Goals (SDGs). The business is run by two different companies: NextEra Resources, a deregulated firm that specializes in renewable energy projects outside of Florida, and Florida Power and Light (FP&L), a regulated utility that aims to achieve true zero emissions by 2045.

By switching to solar and green hydrogen fuel plants and dismantling all Florida coal power stations, FP&L is dedicated to achieving zero scope one emissions. The audacious target of reaching true zero by 2045 shows a dedication to sustainability. However, outside of Florida, NextEra Resources is actively developing renewable energy assets like solar, wind, and battery storage plants. Innovative approaches, such as working with ISOs (Independent System Operators) like New York ISO, which continuously balances generation and power demand in real-time, are used to address the problem of inconsistent energy output.

NextEra's dedication to best practices, effective operations, and ongoing investment in cutting-edge technology for sustainability provides it a competitive advantage. The company demonstrates a forward-thinking strategy by using its own capital as an incubator to invest in early-stage products and innovations, including the linear generator produced by Main Spring. This method provides dispatchable generation with smaller, distributed generators by using green hydrogen, a zero-emission fuel produced through a mechanical process. The acquisition of NextEra Analytics serves as an example of NextEra's analytics capabilities, which use AI and digital computing to precisely predict power plant output on an hourly basis and maximize asset revenue.

Beyond its operational purview, NextEra offers creative solutions. For instance, it has tailored packages for businesses like Meta that combine distributable generation, energy storage, and renewable generating to fulfill their unique power requirements. The business's motto of "doing well by doing good" is consistent with the idea of making a profit while also improving society. Every time a new renewable generator is constructed, NextEra removes gas generators from the grid, demonstrating its commitment to improving the earth and environment for coming generations.

Inspiration

When we asked our interviewer this question she said something that her company heavily preaches. “Doing well by doing good is the concept characterized by for profit companies that creatively ties its capital incentives which immediately creates good for society.” What makes her feel good is that it is something tangible. She works with many people and she loves that at the end of the day, something is built. For every new generator she builds she takes a gas generator off the grid. She is inspired by making “the planet and environment better for her children and grandchildren one day!”

Overall impact

Overall, NextEra's innovations in sustainability and renewable energy have had a significant influence, bringing about improvements that will last for some time as well as beneficial changes that will occur now. Short-term carbon footprints have been greatly decreased by Florida Power & Light's (FP&L) transition to genuine zero emissions by 2045, which includes the retirement of coal power stations and the commitment to solar and green hydrogen fuel plants. The concrete steps that FP&L took to aggressively align with the company's stated goals and establish a standard that other utilities may emulate serve as proof of this impact. The instantaneous decrease in scope one emissions promotes environmental sustainability and demonstrates the viability of widespread adoption of renewable energy sources within a regulated utility system.

NextEra is positioned to become a leader in sustainable energy solutions in the long run because of its investments in state-of-the-art technologies and the creation of renewable energy projects outside of Florida. In addition to addressing the intermittent nature of renewable energy, the integration of green hydrogen with smaller, dispatchable generators offers flexible and scalable solutions for reducing emissions. The sustained success of NextEra Resources in developing solar, wind, and battery storage projects—all of which support the development of a more durable and sustainable energy infrastructure—serves as proof of the long-term effects.

Moreover, the procurement of NextEra Analytics and the incorporation of artificial intelligence and digital computing innovations indicate a dedication to ongoing enhancement, augmenting the precision of power plant output forecasts and maximizing revenue generation, thereby reinforcing NextEra's standing as a trailblazer in the renewable energy domain.

Business benefit

In addition to being good for the environment, NextEra's innovations in sustainability and renewable energy greatly aid in the company's expansion and success. NextEra has established itself as a leader in the sector by making calculated investments in cutting-edge technology and renewable energy projects. The company generates significant income from the construction and management of wind, solar, and battery storage facilities located outside of Florida. Their energy portfolio's diversification creates new opportunities for growth and income streams, promoting company sustainability and resilience in the face of a changing energy environment.

The dedication of Florida Power & Light (FP&L) to achieving genuine zero emissions by 2045 has improved staff happiness and wellness. The business's commitment to environmental sustainability is in line with a larger trend in the labor market, particularly among younger generations, who place a high value on working for organizations that share their social and environmental beliefs. Consequently, this improves recruitment and retention of staff members, cultivating a gifted and dedicated workforce. Employees find meaning and fulfillment in helping a firm that is actively moving towards a cleaner and more sustainable future, and this influence is demonstrated by the organization's ability to attract and retain top talent.

In addition, NextEra's innovative strategy and technological expenditures have created new avenues for investment. With its focus on artificial intelligence (AI) and digital computing advancements, NextEra Analytics' creation not only positions the company as a leader in innovation and attracts investment from stakeholders looking to support businesses at the forefront of technological advancements in the energy sector, but it also optimizes revenue generation by accurately predicting power plant outputs. Essentially, by placing a high priority on sustainability and innovation, NextEra has secured new investment opportunities, raised income, and enhanced employee satisfaction—all of which have strengthened the company's position as a major player in the renewable energy industry.

Social and environmental benefit

NextEra's separation into Florida Power & Light (FP&L) and NextEra Resources is a prime example of its strategic focus on renewable energy. With plans to decommission all coal power plants in Florida and switch to solar and green hydrogen fuel plants, FP&L hopes to achieve true zero emissions by 2045. This bold action not only targets the scope one emissions of FP&L but also establishes a significant precedent for the industry's overall decarbonization goal.

NextEra Resources focuses on wind, solar, and battery storage projects outside of Florida. The corporation actively engages in the energy markets through Independent System Operators (ISOs) like the New York ISO, acknowledging the intermittent nature of renewable energy. NextEra is a leader in the renewable energy field thanks to its industry-leading proficiency in real-time generation and load balancing and their effective plant management.

Innovation from NextEra also includes investments in state-of-the-art technology, such as its minority stake in Main Spring. This startup is a big step towards zero-emission energy solutions since it uses a mechanical mechanism to turn fuel into power without burning it. Green hydrogen is integrated into smaller, dispatchable generators by NextEra, offering adaptable and environmentally friendly options for cutting emissions. Furthermore, their analytical skills—which were strengthened by the acquisition of NextEra Analytics—allow for accurate power plant production predictions, revenue optimization, and the integration of artificial intelligence and digital computing advancements into the power sector. All things considered, NextEra's all-encompassing strategy is in line with the idea of "doing well by doing good," making noteworthy progress in the direction of a greener, more sustainable energy landscape.

Interview

Oana Root, Executive Director