From energy efficiency to grid inspection, this MVP Technology Framework evaluates the tech solutions that utility companies like National Grid and American Electric Power are using to enhance grid sustainability and reliability in a cost-effective manner.
The power grid has changed more over the last decade than over the previous century. New technologies like virtual power plants and energy efficiency solutions have rapidly entered the market to make the grid more sustainable, reliable, and efficient.
Thanks to these new technologies, carbon emissions from the electric power sector in the US have fallen by almost a third in the past decade or so. This occurred despite a similar amount of electricity generation and no increase in the inflation-adjusted real price of electricity.
Despite these advances, however, the power grid faces new reliability challenges amid the shift from dependable sources like coal and nuclear to intermittent sources like solar and wind. To make matters more complicated, these challenges are arising while the adoption of electric vehicles and electrified heating is driving up grid network demand.
As a result, utility companies have come under pressure to adopt technology solutions that will help them reduce the carbon intensity of their operations and boost grid reliability in a cost-effective manner.
This report evaluates 10 tech markets that utility companies should monitor, vet, and prioritize.
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