Power & Utilities
Demand response (DR) continues to garner attention as a key reliability tool amid the ongoing transition to renewable energy, increased electrification, and extreme weather. Traditionally intended to shed load and prevent blackouts during peak demand periods, DR is increasingly valued for its ability to address imbalances caused by the variability in wind and solar generation.
As the transition to a carbon-free grid relies on the integration of diverse renewable energy resources, the need for long-duration energy storage has become more essential. Storage systems capable of supplying energy for 10 hours or more, or adequate stored energy to provide firm capacity to the grid have been garnering attention to accommodate renewables and support grid stability.
Ambitious clean energy and reliability goals continue to drive grid modernization efforts ranging from proposed rules to encourage utility investments in cybersecurity to a $10.5 billion initiative to enhance grid resilience.
Federal and state initiatives to foster the growth of electric vehicles are on the rise, depicting the critical role that the transportation sector is poised to play in achieving climate goals and building a clean economy.
The New England region relies on imported liquefied natural gas (LNG) in the winter to meet natural gas demand due to an inadequate gas pipeline network. The reliance on imports is increasingly fraught as the region competes in the global market where high and volatile prices pose supply risk and pricing uncertainty.
Across the U.S., transmission development initiatives are advancing at a swift pace to deliver on state policy objectives. Transmission expansion is essential to improve the integration of renewable energy and allow better utilization of intermittent, zero-carbon resources like solar and wind.
The hydrogen market is changing amid federal and state initiatives to harness the technology to support decarbonization. Investing in clean hydrogen is viewed as a key component of efforts to progress towards the Biden administration's target of net-zero emissions by 2050.
A handful of states are revisiting natural gas line extension policies to eliminate subsidies for new gas hookups and support state climate policies that call for lower gas use and electrification of buildings.
Utility resource plans continue to manifest the changing power generation mix as more states pursue zero-carbon goals. The shift drives the need for innovative policy initiatives that optimize renewable energy sources and enhance grid reliability.
Across the U.S., policy makers, regulators, and utilities are increasingly viewing energy storage as imperative to enable a transition to greater use of renewable energy, electrify buildings and transportation, and enhance grid reliability.
The Inflation Reduction Act of 2022 (IRA), passed by the U.S. Congress on Aug. 12, includes a historic $369 billion investment in energy security and climate change programs over the next ten years.
Grid modernization efforts are increasingly focused on resilience and reliability to protect the system against extreme weather and cyberattacks. Lawmakers and regulators are pursuing reforms to ensure that policies keep pace with the rapidly changing resource mix to facilitate the transformation to a future grid capable of integrating the increasing number of intermittent resources and electric vehicles.
