Utilities are adapting to the new energy grid under threat of significant economic challenge
To effectively map out the current and future states of power delivery, it’s imperative to discuss what the landscape looked like in the past. Understanding the evolution of any industry typically requires a healthy dose of historical context, and making sense of today’s energy grid is no exception.
The renewable power boom has spawned a growing need for robust energy storage
Bolstered by decreasing costs and strengthening regulatory support, demand for renewable energy is increasing as wind and solar photovoltaics continue to become more prominent contributors to utilities’ generation and revenue mix. As enthusiasm for renewable energy grows, wind and solar remain hampered by how much energy can be stored when generated to be used subsequently when energy is needed.
New scenarios are emerging that pair storage with conventional gas turbine generation
The cost of energy storage has fallen to the point where the power generation industry is moving from demonstration projects to full deployment. Driven by demand and a federal order designed to nurture broader adoption of storage capabilities, practical applications of energy storage are emerging that are competitive with conventional solutions.
In addition, continued annual reductions in the cost for storage will reveal more and more applications where energy storage makes economic sense. A great example can be found in the performance optimization of gas turbines.
Driven by new tech and a growing commitment to sustainability, companies are managing more DER than in the past
Maturing technologies and a growing emphasis on energy efficiency and sustainability are leading organizations to manage more DER than in the past. Bolstered by more financial and mechanical flexibility behind the meter, companies are becoming increasingly energy independent and investing more in alternative generation, storage and energy efficiency.
Grid modernization is gearing up, with several states leading the charge
Grid modernization is getting into gear across the country as electric utilities continue to work to automate distribution and smarten the grid. Buoyed by validating data, states such as California, New York, Illinois and Massachusetts are leading the way, providing blueprints for other regions to follow.
Renewables give big companies greater cost controls, reduced carbon footprints
It’s been a headache-inducing nexus of active regulation, distributed energy and environmentalism for some electric utilities. Plunging costs of solar power and growing concerns of climate change are inspiring swelling ranks of the largest private and Fortune 500 companies pursuing not only aggressive renewable energy goals for sustainability purposes but also cost effectiveness and resiliency.
“New energy” is here, built on sustainability, clean energy tech, grid innovation
The concept of “new energy” has ushered in a global movement dedicated to cost-effective sustainability, clean energy technology and grid innovation. Today more than ever, we’re seeing stakeholders and industry giants from all sectors — finance, manufacturing, retail, utilities, technology, even academia — come together in combined efforts.
NY Utilities Submit Distributed System Implementation Plans That Support Making New York the National Energy Leader with a Safe, Clean, Modern System
National Grid has submitted its 2018 Distributed System Implementation Plan, providing a detailed roadmap for building the capabilities necessary to integrate more distributed energy resources, support markets for innovative products and services, and drive further progress toward New York’s clean energy goals.
Savvy investors are starting to understand the expanding opportunities in clean energy
Now that clean energy has gone mainstream, there is an array of existing and emerging opportunities to scale up clean energy investments while also meeting investors’ risk-return requirements. Across asset classes, clean energy opportunities are available that align with investment fundamentals such as long-term risk diversification. Savvy investors are now moving to understand the expanding opportunities in the clean energy sector, recognizing that this market is growing in terms of the breadth and quality of available opportunities.