INSIGHTSSERIES Power & Utilities | Smart Grid
January 5, 2021
Year Ahead: Five Must-Watch Power Sector Trends for 2021

The shift in policy priorities of the incoming administration is expected to accelerate the transformation of the power sector towards clean energy and distributed grid, continuing its trajectory driven by market dynamics, technology, and customer preferences. The strong growth of renewable energy is expected to speed up, particularly with the extension of the federal tax credits for solar and wind generation as part of the spending bill enacted on Dec. 27. Energy storage is poised to play an integral role in the changing resource mix as more states pursue zero-carbon goals. Alternative ratemaking plans and innovative rate design proposals continue to emerge as utilities adapt to changes driven by decarbonization efforts and distributed energy growth. As the situation around the COVID-19 pandemic continues to unfold, utility regulators across the U.S. are developing solutions … Read the full report

 

Key Figures
State commitments to procure offshore wind capacity29 GW
State energy storage procurement goals11 GW