 And now, would you please join me in welcoming Sally Benson? Well, I'd like to say thank you to our voice of God, or Cindy, who welcomed us all here. So good morning and welcome to the second day of the Global Energy Forum. It looks like people had a very nice time last night because we were still straggling in, but that's good because one of the major purposes of this event is to network and get to know some people that you perhaps didn't know before. So I'm the co-director of the Precourt Institute for Energy, along with my co-director Arun Majumdar, who you heard from yesterday morning. Okay, at Stanford, the Precourt Institute works with students, faculty, and staff from all seven of Stanford schools and the Hoover Institution, sparking the creativity, collaboration, learning, and leadership needed to address all of the challenges that we talked about yesterday. Our work is motivated by a vision for a world with sustainable, affordable, and secure energy for everyone. With over 200 faculty working on energy-related topics, the Institute was created in 2009 to bring together interdisciplinary teams to accelerate the pace of innovation and scale up of new energy solutions. As an example, our newest Stanford Energy Initiative launched just this fall. The Sustainable Finance Initiative is firmly grounded in economics, law, and business, but built on a solid foundation of science and technology. It will develop economic and financial solutions to unlock capital at the scale and speed required. Arun opened his remarks yesterday saying that he wished he was a freshman now, because the next 30 to 40 years are going to be a very exciting time in the field of energy. And the 1,300 members of the Stanford Energy Club and the 169 members of the Graduate School of Business Energy Club would agree with him. In the few minutes that we have together, I thought you might be interested to learn about some of the exciting trends that are shaping the campus experience. For many of us here, including myself, it's been a long time since we were undergraduate students at college. And breakthroughs across a full range of disciplines, from nanoscience to big data, are quickly changing the way we approach energy innovation. And what's perhaps even more remarkable is how quickly these research advances make their way into the classroom and beyond. So I'd like to start with the first trend, and this is ubiquitous skills in computer programming, which I think of as today's algebra. A remarkable 90% of all undergraduates take our demanding computing science course 106A, Programming Methodology. Maybe it doesn't sound too exciting, but obviously it's very exciting to our students. And this class has become really a rite of passage providing students with an unprecedented ability to write computer code for everything from simple problem sets for their coursework to solving complex, coupled, nonlinear partial differential equations. So compared to even a decade ago, computer coding is as fundamental as knowing algebra was when many of us went off to college. The second trend that I'd like to highlight is big data and machine learning. We heard a very exciting set of talks yesterday, one from Jeff Dean of Google about the importance of this group of technology. And today over 900 students a year are taking our basic machine learning class, again expanding the new algebra. Maybe this is our new geometry. And these skills quickly make their way into graduate student research. So for example, Yuchi Sun, one of Professor Brandt's students in energy resources engineering, is using a sky-spacing camera shown up on that image, computer vision and neural networks to provide highly accurate now casts of solar panel output. And as shown on the right here, the machine learning algorithm does an excellent job of predicting the output of the solar panels just by looking at the sky. These same models can be used for short-term forecasts, and this information can be used to help compensate for the rapid drop in solar power when clouds pass over an array. So Professor Benjumdar and his students decided to use satellite images and deep neural nets to create a database locating every single solar panel in the United States. So imagine the power of combining now casts for every solar panel in the U.S. to create real-time data on national solar generation and imagine the benefits of this to the electric grid. The next trend is nanoscience and nanotechnology that have spurred a revolution in material science. This began in the 1990s with three simultaneous innovations that have fundamentally changed the field of material scientists, giving scientists and engineers new tools for creating the next generation of designer materials. These trends are first, the ability to make spatially and temporally resolved maps of chemical species using synchrotron light radiation at the Department of Energy's Slack National Laboratory here at Stanford and the many other facilities around the United States. So what you saw just there was a fly-through in a particle of the cathode of a lithium ion battery showing that the state of charge was highly unequal over that particle. And I'll get back to why that's important in a minute. The second thing that's important is molecular simulation of the properties of materials that we need to understand for solar panels or for catalysts and so forth. And third is the ability to synthesize nanostructured materials with properties that can be molecularly tailored to the job at hand. And one of the examples that I'm most excited about is a new field called inoperando imaging, which has been pioneered here by our faculty and students for imaging devices while they're actually operating. So imagine you can observe a battery, the insides of a battery while it's charging. And they found very interesting result. They found that the rate that a particle is charged actually has a big impact on the way that the particle charges itself. So as shown here, you can see there was a patchy distribution of lithium ions. And so if you're charging at a slow rate, you end up with this very patchy distribution of state of charge. On the other hand, if you charge more quickly, you get a much more uniform accumulation of lithium, which is actually much better for the battery. So this kind of fundamental information can help us design batteries that last longer, which is of course critically important for transportation and for batteries for the electric grid. The next trend is system integration and optimization. Alongside the rapid technological advances from gas turbines to carbon capture to batteries, comes the need for systems integration and optimization. And that was a very big theme that we heard yesterday. Today's energy system is much more complex in the past and will grow increasingly complex with, as we add more renewable generation, electrify cars, use fuel cells for distributed generation, and try to take advantage of the rapid ramping capability of natural gas power plants to firm renewable energy supplies. Taking advantage of faster computers, better algorithms, and coding skills, students are now drawn to work on these system integration challenges. For example, one of my students, E.J. Bike, has built a model of the California Power Grid that explores options for meeting California's 60% renewable portfolio standard by 2030 and the 100% clean energy standard for 2045 that we heard about from Governor Brown yesterday. Shown here are three alternatives that all achieved the 2045 goal for 100% clean electricity. One relies exclusively on renewable energy, the next allows growth of nuclear power, and the last scenario includes carbon capture and storage on gas plants plus bioenergy plus CCS, which actually allows negative emissions. And from this kind of work, number one, we develop options, which I think is incredibly important, and two, specifically from this study, we find that options that include using out-of-state wind generation and carbon capture and storage and bioenergy plus CCS are actually much less expensive than the all renewables option as an example. And the last trend that is so important and ubiquitous here is startup power. Ask a student, a Stanford student what they want to do when they graduate, and there's about a 50-50 chance that they want to join or build a startup company. However, energy startups have been notoriously hard for a number of reasons too lengthy to go into here. But I want to let you know that startups are alive and well here at Stanford as evidence from the wonderful innovation showcase we held here yesterday. Over 70 energy startups spanning many decades have Stanford roots, including some of the most recognized companies shown here. But we wanted to accelerate the pace of innovation and startup companies coming out of Stanford, so Brian Bartholomew together with Professor Stacy Bent started the Tomcat Innovation Transfer Program. Think of this as an incubator inside the university. Each year, 10 to 15 teams are selected to be part of the program. They're provided with funds to build a first prototype, business plan assistance, engagement with local VCs, and general mentoring. This program has been a resounding success with over 30 companies formed, one which has been acquired, 14 that are now generating revenue, and the $3.6 million investment that was put to seed this activity has led to over $130 million in follow-on funding. In the last few minutes, I'd like to shift to what's happening on Stanford's own energy system. To start this beautiful building we're in sitting in today is over 30% more efficient than a building we would have built a decade ago. But Stanford has gone far beyond more efficient buildings. For nearly three decades, Stanford had a 50 megawatt cogent plant that provided our electricity and heat. State of the art at the time it was built, it was now coming to the end of its useful life. After extensive study under the leadership of Stanford's executive director for sustainability and energy management, Joe Stagner, in 2011, the trustees approved a radically different plan for meeting our energy needs. The entire campus heating and cooling system would be electrified with a heat pump. We would switch to heating the campus with hot water instead of steam. We would install massive tanks for hot and cold water, and those are shown here. And we would purchase solar energy from an array in the Central Valley. And finally, we would build an autopilot that would operate the whole system automatically. Key to this system and the benefits of this system was the realization that we were simultaneously heating and cooling throughout the year. This provided the opportunity for heat recovery using heat recovery chillers and consequently led to energy savings of over 70% for up to meet our heating needs. This together with a 68 megawatt PV array reduced our emissions by over 70%. And as you heard from our president, Mark Tessier-Levin, we have ambitions to go beyond this, to get to 80%, and eventually 100% renewable electricity. So this system is operating very well today. We continue to explore the benefits of having this. For example, a PhD student, Jack Deschallender, got very interested in exploring how else this system could be used to improve the energy system here. And what he did is he showed that large-scale thermal energy storage could be used to increase grid flexibility by participating in our utilities, PG&E, capacity bidding program for demand response. We demonstrated many times over this summer that we could provide at least five megawatts, which is a third of the capacity of our central energy plant, of demand reduction whenever PG&E called upon us. And not only did this demonstrate the value of district seal heating and cooling with systems such as SESI, but we saved the campus several hundred thousand dollars on top of that. That's a pretty fun PhD project, if you ask me. So our campus is providing a fantastic living laboratory for testing new energy innovations at scale. And we look forward to exploring opportunities with all of you here to think about how we might take advantage of learning more about what these district scale heating and cooling systems can provide. So I hope in this short time that I have conveyed to you our enthusiasm, commitment for building a global energy system where everyone has access to sustainable, affordable, and secure energy. And I hope I explain some of the trends that are shaping the campus experience here today in both research and education. I believe there's nothing more important than the mission we're on. And thank you for being part of our community and part of our team. So now it's on with the show. Please enjoy the day. Thank you very much.