The swift advancement of sophisticated cyber threats alongside the increase in advanced energy system control technologies has called for stronger measures to secure critical infrastructure and energy sector resilience.
The increasing focus on reducing carbon dioxide (CO2) and other greenhouse gas emissions to achieve climate goals has drawn renewed attention to the deployment of carbon capture, utilization, and storage (CCUS) technologies. Federal investments in carbon management through the 2021 Infrastructure Investment and Jobs Act (IIJA) have provided a near-term opportunity to scale commercial carbon capture projects.
Energy storage is evolving to be an essential part of the energy transition given its ability to provide power on demand and optimize grid performance amid the proliferation of intermittent renewable energy resources.
U.S. carbon markets drew strong participation in recent auctions reflecting potentially higher demand for carbon allowances in anticipation of more stringent federal and state climate policies. Washington is advancing a new cap-and-invest program, while Vermont is examining options for a similar initiative to cut transportation sector emissions.
Aging infrastructure, a rapidly changing generation profile, and climate change concerns are driving efforts to facilitate a flexible power grid that can absorb higher levels of distributed resources and withstand damaging weather events.
Across the U.S., state and federal agencies are accelerating efforts to bolster electric vehicle (EV) charging infrastructure, expand consumer incentives, or electrify fleets, reflecting the growing importance of transportation electrification to achieve clean energy goals. States are also tasked with deploying billions in new federal funds for charging stations under the 2021 Infrastructure Investment and Jobs Act (IIJA).
Energy utilities across the U.S. are expanding opportunities for customers to participate in programs designed to reduce their carbon footprint. Green pricing options have been on the rise, encouraging consumers to meet a portion of their electricity needs from renewable energy resources. Carbon offset programs are becoming popular among natural gas utilities, allowing customers to compensate for their combustion-related emissions.
Discussion around the social cost of greenhouse gases has drawn increased interest following the Biden administration’s renewed focus on establishing the climate metric for federal agencies to incorporate in their policy decisions.
The Infrastructure Investment and Jobs Act (IIJA), which represents the largest investment in U.S. infrastructure, includes major provisions important to the energy industry, ranging from building out the first national network of electric vehicle (EV) charging stations to modernizing the electric transmission grid and expanding clean energy.
Russia’s attack on Ukraine has roiled global markets, causing oil prices to soar at a time when the world is recovering from the economic fallout of the COVID-19 pandemic. The conflict, entangled with the global energy crisis, has been met with heavy economic sanctions from the U.S. and most European countries. Companies across the oil and gas value chain have also announced plans to abandon investments in Russia.
Upgrading and expanding the U.S. electric transmission system is key to enhancing grid reliability and resilience while enabling greater integration of carbon-free resources to meet clean energy goals.
Nuclear power is increasingly viewed as a necessary resource to compensate for the decline in fossil fuel-based electricity in the transition towards a low-carbon future. Recent actions range from the U.S. Energy Department’s launch of a $6 billion program to sustain the existing nuclear fleet to West Virginia’s move to end a ban on nuclear plant construction and efforts to delay the closure of the Diablo Canyon nuclear power plant in California.