With the new infusion of federal funds for grid upgrades, survey-driven report amplifies the need for proactive approaches
Submitted by Black & Veatch
OVERLAND PARK, Kan., September 21, 2022 /CSRwire/ – In an increasingly decarbonizing world, the U.S. electric industry is transforming itself as the growth of renewable energy and evolving distributed energy use forces utilities to find ways to accommodate new sources of power. Power-disrupting weather events and wildfires propelled by climate change are also testing the resilience of the aging power infrastructure in need of modernizing. Investment and regulatory uncertainties only add to the sector’s headwinds.
Black & Veatch’s new Electric Report details such complexities and the path forward, drawing upon expert analysis of responses to a survey of roughly 250 U.S. power sector stakeholders. Against the backdrop of this week’s yearly Climate Week conference in New York City, the report details an industry tasked with bolstering its reliability in a rapidly evolving “new energy” ecosystem driven by cleaner, more environmentally friendly power sources. Electricity drawn from the sun and wind is leading the way – with hydrogen on the horizon.
“Challenging ourselves to do more as an industry and exploring ways to increase innovation in the delivery of infrastructure is at the heart of Climate Week,” said Mario Azar, Black & Veatch’s Chairman and CEO. “As the report points out, there are cross-sector opportunities to address sustainability and resiliency by harnessing the resources and talent that exist and investing wisely in tomorrow’s solutions.”
The company’s report also highlights the need for utilities to harden their systems against the threat of droughts, flooding, hurricanes and wildfires while responding to rising demands from governments, corporations, activists and shareholders for lower carbon footprints through renewables. As the migration to electrified vehicles and fleets accelerates, so does the need for investment in the required charging infrastructure to meet the demand.
Detailing the push for utilities and power developers to become more sustainable, reliable and resilient, the report offers key insights, including:
“The continued adoption of clean energy fuels, advances in energy storage and the imperative to modernize our infrastructure against the effects of climate change amplify the importance of hardening the U.S. power grid through innovation,” said Laszlo von Lazar, president of Black & Veatch’s energy and process industries. “In this time of a generational transformation unfolding in the power sector, utilities must seize the moment to achieve the resilience and lower-carbon posture that consumers and enterprises expect.”
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.
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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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