Survey-driven ‘Energy Transition Snapshot 2022’ examines current volatility, progress in evolving energy ecosystem amid release of the Inflation Reduction Act
Submitted by Black & Veatch
OVERLAND PARK, Kan., August 24, 2022 /CSRwire/ - As global decarbonization accelerates through widening adoption of renewable energy and other green technologies, a new survey-driven report by Black & Veatch and Canary Media highlights the pace and progress of clean energy despite this year’s unusual volatility in the power sector.
The “Energy Transition Snapshot 2022” report, released today and based on a survey of nearly 200 climate and cleantech professionals, offers deep introspection about the state of clean energy against the backdrop of such recent headwinds as supply chain issues, global inflation, the war in Ukraine and pricing volatility.
As the report makes clear, debates remain unsettled about topics ranging from the growth rates of long-duration energy storage to electric vehicle (EV) adoption and the likelihood that the U.S. can meet its most ambitious targets for emissions reductions. The report also assesses survey participants’ perspectives about the state of specific technologies, including solar, storage, EVs and hydrogen.
Despite the recent challenges, promising signs continue to emerge, most notable along the funding front. While the survey concluded before eventual August passage of the “Inflation Reduction Act,” that new law will direct $369 billion over the next decade toward clean energy, EVs, pollution reduction and energy security. It’s the largest single federal investment to fight climate change, stoking optimism on the heels of the billions of dollars already committed to the industry by the Infrastructure Investment and Jobs Act.
“While any year can bring unique challenges to ambitious campaigns such as decarbonization, as was the case so far in 2022, we remain bullish on the long-term promise of clean energy,” said Mario Azar, Black & Veatch’s Chairman and CEO. “Backed by the infusion of new federal spending commitments, renewable energy – including the ascension of hydrogen – continues to define tomorrow’s reimagined energy ecosystem.”
Key findings of the report include:
About Black & Veatch
Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2021 exceeded US$3.3 billion. Follow us on www.bv.com and on social media.
About Canary Media
Canary Media is an independent, nonprofit journalism outlet powered by RMI and dedicated to chronicling the transition to a decarbonized economy and society, with a particular focus on the transformation of the energy, transportation, industrial and building sectors. Canary Media’s overarching goal is to provide the most relevant information and expert analysis on climatech and clean energy for an audience of concerned citizens, as well as the policymakers, investors and industry participants under pressure to plan and executive far-reaching changes required to achieve rapid decarbonization. For more information about Canary Media, click here.
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Black & Veatch is an employee-owned engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people in over 100 countries through consulting, engineering, construction, operations and program management. Our revenues in 2018 were US$3.5 billion. Follow us on www.bv.com and in social media.
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