1、2022 Megatrends in Power Sponsored by Black&Veatch and Clarion Energy2022 MEGATRENDS IN POWER|ABOUT THIS REPORT|2About This ReportMario AzarPresident,Energy&Process Industries,Black&VeatchSponsored by Black&Veatch,a global leader in sustainable engineering,procurement and construction,and Clarion En

2、ergy,a media leader covering power generation,transmission and distribution,the 2022 Megatrends in Power report explores the sweeping forces driving a complete repowering of the American power industry.Todays electric grid is in a tenuous position.The accelerating impacts of climate change are being

3、 felt nationwide as extreme weather events from wildfires to deep freezes tornadoes and hurricanes push aging infrastructure beyond its capabilities.This comes as U.S.electric utilities work diligently to accelerate the energy transition by investing in new transmission to support renewable growth a

4、s well as the critical grid modernization assets that will help the industry meet aggressive net-zero energy targets.02022 MEGATRENDS IN POWER|ABOUT THIS REPORT|3Built on a survey of 216 power sector stakeholders,the 2022 Megatrends in Power report examines four megatrends that are setting the stage

5、 for the next decade of a rapidly evolving energy ecosystem:1.Decarbonization:With renewable energy reshaping the power sector,decarbonization is grabbing a bigger foothold among states,companies and other enterprises eager to cut their carbon footprints,independent of any external pressures.Others

6、thinking of following suit must understand that going green doesnt happen overnight and takes thoughtful planning for the goals,the needs to reach them and,perhaps most importantly,how to pay for it.I PAGE 4 2.Electrification:When the topic of electrification comes up,most people immediately point t

7、o transportation as the main contributor to emissions.But large-scale electrification is about more than just electric vehicles;its going to take a multi-pronged approach requiring the widespread electrification of energy production and the heavy industries.I PAGE 8 3.Climate Adaptation:Utilities ar

8、e heeding the COP26 call to protect their customers from the effects of climate change and prevent the widespread blackouts caused by extreme weather events.But“if you cant measure it,you cant manage it,”so power companies are turning to risk analysis and modelling to help prioritize resilience proj

9、ects,implementing technology and physical asset hardening strategies that range from smart grid improvements to undergrounding.I PAGE 12 4.Energy Transformation:The energy transformation is inevitable,but what this means exactly remains unclear.As the world transitions to net zero,energy systems wil

10、l require sweeping upgrades to incorporate an increasing number of distributed energy resources while ensuring steady supply.The path to a more resilient,flexible,decarbonized grid will be bolstered by the funding and statutory changes established by the Infrastructure Investment and Jobs Act.I PAGE

11、 15 We welcome your questions and comments regarding this report and Black&Veatch services.You can reach us at MediaI.As the world transitions to net zero,energy systems will require sweeping upgrades to incorporate the increasing number of distributed energy resources while ensuring steady supply.2

12、022 MEGATRENDS IN POWER|DECARBONIZATION|4A Minefield of Challenges,But Opportunities Come with Proper PlanningWith decarbonization often considered a principle of sustainability,oversized complexities come with the territory challenges like how to best interpret and track corporate commitments to th

13、eir zero-emissions goals and link them to financing tools.None of it is lost on Moodys Andrew Grant.With the verbiage and scope of corporate carbon-cutting quests so diverse,addressing it all makes for“an absolute minefield,”S&P Global Market Intelligence quoted the credit rating agencys vice presid

14、ent for climate solutions as telling a panel last September.Little about decarbonization is simple.Yet more and more,states,companies and other enterprises big and small are diving in,promising wider use of“new energy”sources such as solar,wind and hydrogen coupled with battery storage as alternativ

15、es to carbon-based fuels widely blamed for climate change.Other solutions from low-carbon building materials to broader adoption of electric vehicle(EV)fleets increasingly are coming into play as cleaner,greener options.Carbon capture,utilization and sequestration(CCUS)technology is in the mix but s

16、till seeking greater traction.DECARBONIZATIONThe Drive to Decarbonization2022 MEGATRENDS IN POWER|DECARBONIZATION|5Its a surging tsunami of energy reform,frequently pursued independently not compelled by external regulatory forces to demonstrate that doing the right thing brings the added benefit of

17、 heightened sustainability.The 2022 Electric Megatrends Report proves it.Among the 216 stakeholders surveyed by Black&Veatch and Clarion Energy,nearly two-thirds said their organization has goals tied to carbon or greenhouse gas emissions reduction,clean energy or renewables,the majority of which sa

18、ying those objectives were without any regulatory mandate(Figure 1).Overwhelmingly and encouragingly,respondents appear satisfied with the veracity of their decarbonization blueprints;98 percent described those plans as defined in some fashion,with two-thirds of those respondents declaring such effo

19、rts spelled out“very well”or“well.”So why are so many still on the sidelines?Thoughtful planning with trusted engineering,construction and consulting experts in breaking down the challenge of transforming to low-or no-carbon energy into manageable chunks holds much of the key.But the bigger issue is

20、 perhaps predictable:How do you pay for it?Financing,Funding Restraining Broader DecarbonizationDramatically cutting carbon from their operations requires acceptance that a financial burden,often steep,comes with such forward thinking.Unsurprisingly,funding(41 percent)and the availability of technol

21、ogy(40 percent)topped the list of challenges cited by respondents pressing for a net-zero carbon goal by mid-century,followed by the rate of return on investment(34 percent)and grid resiliency or reliability (33 percent)(Figure 2).While more than two-thirds(68 percent)of respondents agree that theyr

22、e directing their capital toward clean energy and one in five claim neutrality on that issue Uncle Sam is pitching in,soon to reward those able to nimbly position themselves for that outlay.Figure 1Does your organization have carbon reduction,greenhouse gas emissions reduction,clean energy or renewa

23、bles goals?(Select all that apply)Source:Black&Veatch 41.7%Yes,separate from any regulatory mandate20.4%Yes,as part of a state regulatory mandate16.2%Yes,as part of a local regulatory mandate32.4%No2.8%Dont Know“Yes”NET 64.8%2022 MEGATRENDS IN POWER|DECARBONIZATION|6The$1.2-billion,bipartisan Infras

24、tructure Investment and Jobs Act(IIJA)signed by President Joe Biden in November earmarks$73 billion for grid upgrades,including the buildout of thousands of miles of new,resilient transmission lines to help expand renewable energy.That single biggest federal investment in power transmission in U.S.h

25、istory comes at a time of runaway expansion of renewables.A recent U.S.Department of Energy study found that solar energy has the potential to account for 40 percent of the nations electricity by 2035,driving deep grid decarbonization.Black&Veatchs survey reflects solars allure,with power from the s

26、un(33 percent)viewed as the top choice to be included in respondents clean-energy goals over the next decade,followed by the tight bunching of wind power,power purchase agreements,distributed energy resources(DER)and battery energy storage.Beyond 10 years,hydrogen widely considered a rising star bec

27、omes the most favored at 19 percent,passing DER,battery storage,solar and the retirements of fossil-fuel power plants(Figure 3).The need to address the ascendancy of renewables is no secret;survey respondents for Black&Veatchs Electric Report,released in November 2021,rated grid integration of renew

28、ables as their chief challenge,moving it up one spot from 2020 and supplanting aging infrastructure a relative constant as the industrys biggest headache atop the list.While CCUS technology can be part of the decarbonization toolbox,Black&Veatchs survey shows its underused,largely given the price ta

29、g.More than half of respondents(56 percent)report theyre aware of CCUS but havent considered it,with nearly 40 percent citing high technology and project costs as the biggest impediment to adding it to their asset portfolio.Where the rubber meets the road,the IIJA also presses for broader adoption o

30、f EVs,setting aside$5 billion for states to build a nationwide network of charging stations,along with$2.5 billion in local grants to support charging stations in rural areas and disadvantaged communities.The Biden Administration also aspires that electric cars and trucks make up half of new vehicle

31、s sold by the end of this decade.Offering a glimpse of the future,Daimler Trucks North America and Portland General Electric teamed up with Black&Veatch a leading provider of zero-emission vehicle transportation solutions on a first-of-its-kind,public charging station specially designed for medium-a

32、nd heavy-duty electric commercial trucks.Figure 2What are your biggest challenges in progressing toward a net-zero carbon goal by 2050?(Select all that apply)Source:Black&Veatch 41.1%Funding 39.7%Availability of technology to get to net zero 33.6%Rate of return on investment32.7%Grid resiliency/reli

33、ability 18.7%Other2022 MEGATRENDS IN POWER|DECARBONIZATION|7That“Electric Island”project in Portland,Oregon,demonstrates high-power charging infrastructure scaled to accommodate electric trucks and their large batteries,addressing the nexus of electrified trucks and the grid while creating opportuni

34、ties for tomorrows EV drivers and utility customers.The project earned honorable mention in the sustainability category of Fast Company magazines 2021“Innovation by Design”awards one of the industrys most-coveted recognitions.The Drive to Decarbonization:Whos In?More than 340 companies including a v

35、irtual“whos who”of multinationals such as General Motors,Kelloggs,Johnson&Johnson,Hewlett-Packard and 3M have pledged to move to 100-percent renewable generation across their global operations.That“RE100”list by the Climate Group and the former Carbon Disclosure Project includes 53 companies that re

36、ported their complete transition to renewables by the end of 2020,with an additional 65 announcing they were 90 percent there.Many of the RE100 companies are generating their own energy through rooftop solar;others are buying renewable-based power from offsite,grid-connected generators.For its part,

37、Black&Veatch in 2020 announced it no longer is pursuing new coal-fired generation projects in any part of its portfolio.The company also plans to have reduced its overall emissions by 20 percent and fleet and building emissions by 40 percent from 2019 levels.The upshot of it all:With the right partn

38、ers,pushing decarbonization goals across the finish line takes commitment and a thoughtful approach that mitigates the“minefield”of challenges,seizing vast opportunity in tomorrows new energy ecosystem.In the next 10 yearsBeyond 10 yearsSolar36.1%13.4%Wind30.1%9.7%Distributed energy resources28.7%14

39、.4%Battery energy storage27.8%13.9%Power purchase agreements(PPAs)26.6%11.1%Natural gas22.7%6.9%Combined cycle19.9%7.9%Retiring traditional fossil-fueled generation sites18.1%13.0%Hydrogen17.1%21.3%Making traditional fossil-fueled generation more efficient16.7%5.6%Other9.3%7.4%Figure 3Which of the f

40、ollowing methods do you expect will be included specifically to help meet your carbon/emissions reduction and/or clean energy goals?(Select all that apply from each time frame)Source:Black&Veatch 2022 MEGATRENDS IN POWER|ELECTRIFICATION|8Electrification:More Than Cars,Trucks and Things That GoELECTR

41、IFICATION2022 MEGATRENDS IN POWER|ELECTRIFICATION|9From seemingly unending heat waves to record-breaking freezes,devastating droughts and wet-weather phenomena that can inundate a region with rain,we know the consequences of a warming planet and the need for resilience against climate change and ext

42、reme weather events.To stem the tide of rising global temperatures,the world needs to transition its economy from one that runs on fossil fuels to one built on a foundation of clean energy.Direct electrification using electricity as a direct replacement for a fossil-based source of energy(e.g.,elect

43、ric vehicles(EVs),building heating and cooling)will be key to reducing carbon emissions.When the topic of electrification comes up,most people immediately point to transportation as the main player in the fight against carbon emissions.But large-scale electrification is going to be about more than j

44、ust EVs;its going to take a multi-pronged approach.Electric Vehicles:Part of the Solution,But Not All of ItUnsurprisingly,the combustion engine has been and continues to be a major contributor to carbon emissions;in 2019,cars,buses and trucks were responsible for nearly one-third(29 percent)of all g

45、reenhouse gas emissions(GHG)in the U.S.,with light-duty vehicles contributing the bulk of them(58 percent)and medium-and heavy-duty trucks 24 percent.To address this,the Biden Administrations recently passed Infrastructure Investment and Jobs Act(IIJA)includes a combined$15 billion for vehicle elect

46、rification programs,including$7.5 billion to build out a national network of EV chargers in the U.S.This will provide a huge boost,given that a recent industry survey issued by Clarion Energy,in partnership with Black&Veatch,found that commercial entities bear the brunt of the financial burden when

47、it comes to shouldering EV charging infrastructure costs(Figure 4).Figure 4How are EV charging infrastructure costs typically shared among the following entities?Source:Black&Veatch 45.6%Commercial entity19.3%Federal government14.2%State government20.9%Utility and local governmentLarge-scale electri

48、fication is going to be about more than just EVs;its going to take a multi-pronged approach.2022 MEGATRENDS IN POWER|ELECTRIFICATION|10As the demand for EV charging sites continues to grow,developing sustainable funding will become increasingly important.The survey found that 31 percent of utilities

49、 are seeing an uptick in requests for Level-1 charging sites,43 percent are seeing an increase in Level-2,and 44 percent are seeing an increase in requests for Level-3 charging sites(Figure 5).When it comes to preparing for small-scale EV load growth,nearly one-quarter(22 percent)of respondents said

50、 they would be ready today,with an additional 28 percent ready within the year.Timelines for medium-and large-scale EV load growth stretched out a little farther;38 percent of respondents said they could add medium-scale load growth within the next year,while only 29 percent said the same for large-

51、scale load growth(Figure 6).Large-scale loads will take the most time,with 40 percent of respondents looking to two years or longer.The Age of ElectrificationBut while the large-scale adoption of EVs is key to achieving a net-zero economy in three decades time,they represent only one component of wh

52、at must be a larger electrification effort.Although transportation contributes 29 percent of GHG emissions,two other sectors also are primarily responsible electricity production at 25 percent and heavy industry at 23 percent.Today,fossil fuels(e.g.,coal,natural gas,petroleum)continue to make up nea

53、rly 61 percent of the energy mix in the U.S.,according to the U.S.Energy Information Administration.Level 1(120V)30.8%30.8%17.9%20.5%29.9%12.0%15.4%42.7%23.9%14.5%17.9%43.6%Level 2(208/240V)Level 3/DC Fast Charging Higher About the same LowerNo AnswerFigure 5Compared to last year,are you seeing an i

54、ncrease in EV charging site requests?If so,for which charging types?(Select one per row)Source:Black&Veatch 2022 MEGATRENDS IN POWER|ELECTRIFICATION|11Nearly 20 percent of utility-scale electricity generation comes from renewable energy,a number that needs to increase nearly 3.5 times to 68 percent

55、direct electricity by 2050.Although growth is trending in the right direction only a decade ago,renewable energy comprised only 13 percent of electricity generation in the U.S.were still facing a serious gap,especially as the Biden Administration has set aggressive targets of a 100-percent carbon em

56、issions-free power sector by 2035 and a net-zero economy by 2050.This means that EVs alone wont cut it;they need to be fueled by clean energy,meaning more utility-scale electricity generation from renewable sources and a modernized power grid that can integrate clean energy from local generation.Rec

57、ognizing this,the IIJA allocates more than$65 billion to improve clean energy Small-scale EV loadsMedium-scale EV loadsLarge-scale EV loadsWe are ready today22.2%8.5%6.8%Less than 6 months12.8%12.8%4.3%6 months to 1 year 14.5%17.1%17.9%1-1.5 years 15.4%14.5%12.8%1.5-2 years 6.0%11.1%7.7%More than 2

58、years 19.7%22.2%39.3%No answer9.4%13.7%11.1%Figure 6From today,how much time is needed for your utility to enable new EV loads?(Select one)Source:Black&Veatch transmission and integrate more renewable energy while also promoting smart grid technologies.We also need to deepen our commitment to decarb

59、onizing the heavy industries that are notoriously difficult to electrify.Advanced technologies around carbon capture and hydrogen are offering solutions to help us get there.Supporting these efforts,the IIJA also creates a new Grid Deployment Authority to fund research and development in next-genera

60、tion technologies such as advanced nuclear reactors,carbon capture and clean hydrogen.These three components transportation,energy production and the heavy industries will be the key components of embracing a cleaner,more sustainable and more resilient electric future.2022 MEGATRENDS IN POWER|CLIMAT

61、E ADAPTATION|12CLIMATE ADAPTATIONCreating the Grid for the Contemporary ClimateThink global,act local:the rallying cry to address climate change.Calls to act stemming from COP26,2021s UN global climate summit,include pursuing adaptation measures to protect communities especially those most vulnerabl

62、e from climate changes effects.By decarbonizing,Americas power industry is thinking globally.But how is the sector acting locally to protect communities?According to The Washington Post,in September 2021,almost one in three Americans lived in a county hit by a weather disaster in the previous four m

63、onths.And the disruption these weather events cause frequently includes blackouts.It took more than 10 days to restore full power in New Orleans after Hurricane Ida,which struck in August 2021.In February 2021,Texas was five minutes away from a cascading series of events that could have left the sta

64、te in the dark for weeks.A heatwave caused rolling blackouts in California during August 2020.In the U.S.,as elsewhere,the most vulnerable communities are those most affected by climate 2022 MEGATRENDS IN POWER|CLIMATE ADAPTATION|13change.As the Environmental Protection Agencys Climate Change and So

65、cial Vulnerability in the United States report notes,“Of the four socially vulnerable groups examined,minorities are most likely to currently live in areas where the analyses project the highest levels of climate change impacts.”Besting the BlackoutsIn response,utilities are heeding the COP26 call t

66、o act and working to understand how they can best protect communities from climate change-related blackouts.If you cant measure it,you cant manage it;so,the majority of respondents to our survey are looking to risk analysis and modelling to help prioritize resilience projects.Risk analysis,employed

67、by 57 percent of respondents,focuses on what an asset or process is intended to do and identifies factors that stop it from performing as required(Figure 7).This information is used to inform measures to mitigate the factors degrading asset performance,helping identify the optimum balance between co

68、st and risk.One in five respondents are using climatic modelling to help them better understand and predict the events putting power infrastructure at risk.Such data-driven interventions are vital in the face of a relatively skeptical public.According to The Economist,four out of 10 Americans do not

69、 believe global warming is caused by human activity.As a result,it is a concern that nearly 30 percent of respondents are not using risk analysis or modelling to prioritize projects.It seems data gathering and modelling are where most of our respondents find themselves in terms of implementing resil

70、ience projects.During the past year,the majority nearly 70 percent neither deployed nor piloted projects that help their utility respond faster to storms or environmental events.For utilities with deployed or piloted projects to drive faster responses to environmental events,there is a balance of pr

71、ocess and asset-based initiatives.The former included amending standard operating procedures and using weather data to pre-stage contract crews;among the latter are installation of battery energy storage systems(BESS)and pre-event power reductions.29.1%No19.7%Yes,climactic modeling13.7%Yes,other typ

72、es of analysis or modeling57.3%Yes,risk analysisFigure 7Have you used risk analysis,modeling or other similar inputs to prioritize resilience projects?(Select one)Source:Black&Veatch 2022 MEGATRENDS IN POWER|CLIMATE ADAPTATION|14Hardening AttitudesAlthough respondents referenced weather/storm harden

73、ing among the resilience initiatives undertaken during the past year,the appetite for asset hardening techniques is difficult to gauge.Most respondents,about 60 percent,view asset hardening as somewhat important or of similar importance to previous years.A little more than one-third(36 percent)said

74、asset hardening was much more important,while barely 5 percent see asset hardening as less important today than in previous years(Figure 8).For those utilities investing in asset hardening,smart grid improvements are the most attractive measures.In addition to supporting the COP26 goal of adapting t

75、o protect communities from the effects of climate-change-related weather events,non-wires alternatives such as smart grids also enable the adoption of more renewables,thus simultaneously supporting the COP26 call to decarbonize.Given that backup power is second to smart grids in terms of hardening m

76、easures favored by respondents,it is likely that BESS,often a smart grid component,will be an element of backup power systems.Get PhysicalFollowing technology-centered hardening techniques,respondents assigned broadly equal importance to three physical measures to protect transmission lines:vegetati

77、on management,structural transmission,and distribution upgrades and undergrounding.The fact that climate change-related disruption to communities power supplies will remain a feature until the grid is modernized to meet contemporary climatic conditions may prove a blessing in disguise.Climate change

78、s impact on service may be a tipping point.Previous Black&Veatch research found budgetary constraints and regulatory hurdles to be among the top barriers to grid adaptation.The growing threat and cost of prolonged outages,experienced in areas such as Texas,California and New York,is prompting policy

79、makers and regulators to consider rate-basing expensive hardening investments.This,coupled with the Infrastructure Investment and Jobs Act,may presage a new era of grid resilience and alignment with the priorities set during COP26.Figure 8Compared to previous years,how important are asset-hardening

80、techniques today?(Select one)Source:Black&Veatch 36.7%Much more important today30.8%Of similar importance compared to previous yearsAsset hardening is 4.7%Somewhat/much less important today28.6%Somewhat more important today2022 MEGATRENDS IN POWER|ENERGY TRANSFORMATION|15The need for a green energy

81、economy is glaring the power sector alone is responsible for almost three-quarters of the emissions since the pre-industrial age.But energy market instability caused by COVID-19 and related supply chain disruptions have sobered calls to“electrify everything,”leading instead to deeper considerations

82、of how,and how quickly,the energy sector realistically can decarbonize while maintaining stable supply and demand.It seems everyone knows an energy transformation is coming,but fewer understand what exactly this means and how power infrastructure developed for unilateral transmission is going to inc

83、orporate the blend of new generation technologies necessary to operate at net zero.The path forward will encompass the development of innovative,distributed generation technologies and vast system upgrades not only to the infrastructure itself,but also to the ways infrastructure projects are funded

84、and approved.As the U.S.embarks on its energy transformation,curiosity,ingenuity and a willingness to adapt will lead the way to net-zero carbon emissions.ENERGY TRANSFORMATIONThe Infrastructure Investment and Jobs Act will Streamline,Speed Energy Transformation2022 MEGATRENDS IN POWER|ENERGY TRANSF

85、ORMATION|16Figure 9What role(s)do you envision in offering renewable energy solutions to your customers(Select all that apply)Source:Black&Veatch 54.4%Working with governments on regulatory models that enable investments in both renewables and conventional power generation 53.5%Working“behind-the-me

86、ter”with customers who are interested in moving to renewables 29.8%We will continue investments in conventional power generation because of concerns relative to renewable energys intermittency 6.1%We will play no role 4.4%None of the above Diversifying PowerU.S.infrastructure is aging.As it does so,

87、it loses its ability to weather increasing grid stressors such as extreme climate events and added loads from electrification.Strategies to combat this issue will be two-pronged;they must harden the grid to make it resilient and upgrade it to accommodate multidirectional flows of energy from increas

88、ingly distributed generation sources.Yet,concerns regarding stable generation still create hesitation around clean energy.Thirty percent of respondents to the survey by Black&Veatch and Clarion Energy noted they would continue making investments in conventional power generation due to concerns relat

89、ed to renewable intermittency(Figure 9).Their concerns are not misplaced;intermittency makes it difficult to regulate prices and match supply with demand,in many cases requiring natural gas backups to keep supply steady.Managing supply and demand within a green energy economy will require a diverse

90、portfolio of distributed generation sources,including nuclear,hydrogen,wind,solar,biomass and more,along with the ability to store energy both short-and long-term.Many utilities recognize this need.More than half of survey respondents reported they were Managing supply and demand within a green ener

91、gy economy will require a diverse portfolio of distributed generation sources,including nuclear,hydrogen,wind,solar,biomass and more2022 MEGATRENDS IN POWER|ENERGY TRANSFORMATION|17working“behind the meter”with customers who wish to switch to renewables(Figure 9).In addition,56 percent of respondent

92、s confirm they are adapting their business models to become more competitive in the distributed energy resource(DER)market(Figure 10).Initiating TransformationAs DERs grow as a share of energy assets,the onboarding of clean energy to the grid will be expensive in dollars,manpower and time.The Infras

93、tructure Investment and Jobs Act(IIJA),signed by President Biden in November 2021,is poised to mitigate these expenses and,hopefully,accelerate the transition to a net-zero economy.Though utilities see the need for modernization,the government plays the largest role in stimulating the energy transfo

94、rmation.More than half of respondents to a survey by Black&Veatch and Clarion Energy report“government incentives and/or policies”to be the main driver of renewable energy investments,while 41 percent cite“increased governmental pressure and influence”as a guiding factor(Figure 11).Though the exact

95、path to net zero remains convoluted,the IIJA has significant funding for projects that will begin the journey.The law has various provisions for the energy sector,including$2.5 billion for a Transmission Fund loan program through the Department of Energy(DOE),$5 billion for resiliency and hardening

96、equipment,$16 billion for DOE programs for energy efficiency,renewables and much more.The bill also provides funding to stimulate research and development of clean energy technologies such as carbon capture and battery energy storage.Figure 10Has your utility adapted your business model to be more c

97、ompetitive and innovative in the distributed energy resource space?(Select one)Source:Black&Veatch 35.9%Yes,we are in the process of adapting our model18.8%Yes,we have adapted our business model 26.5%No,but we are interested in exploring this 10.3%No,our business model will likely remain unchanged 6

98、.0%No,regulation wont allow it 2.6%No answer“Yes”NET 55.7%“No”NET 42.7%2022 MEGATRENDS IN POWER|ENERGY TRANSFORMATION|18While the funding allocated by the IIJA will put a dent in the cost of the United States energy transformation,it tends to overshadow a different,yet equally important part:statuto

99、ry changes that will radically change the ways infrastructure investments are made.The law streamlines federal permitting for new projects,expands opportunities for co-investment in infrastructure by public and private entities,and routes assistance toward communities most in need.In addition,it sim

100、plifies and speeds the federal environmental review process under the National Environmental Policy Act.These provisions go a long way to minimize the red tape and administrative burden often associated Figure 11What factors are driving renewable energy investments in your region?(Select all that ap

101、ply)Source:Black&Veatch 52.1%Government incentives and/or policies41.2%Increased pressure/influence from governments34.6%Lower levelized cost of energy 31.8%Improved pricing competitiveness and efficiencies from new technologies(bifacial solar,dynamic load ratings,Volt/VAR devices,battery energy sto

102、rage)30.3%Increased pressure/influence from shareholders and drive for sustainability goals29.9%Increased demand from commercial and industrial clients28.4%Increased demand from residential customers 21.3%Convenience and lower risk of using power purchase agreements to source new renewables projects

103、18.5%Battery storage is making it easier to manage and reduce losses from curtailment or clipping 18.0%Lower development risks and risks of delays compared to traditional solutions17.5%Reduced options to finance traditional solutions/comparatively increased ease of access to capital to finance renew

104、able solutionswith federal funding,expediting and easing the initiation of infrastructure projects.In this increasingly interconnected age,our power grid is tasked with facilitating almost everything we do.As the nation decarbonizes,electrification increases and DER multiply,this burden will gain we

105、ight.U.S.power infrastructure must be reliable,flexible and decarbonized to propel the nation through the green revolution and beyond.As power utilities upgrade and adapt,funding availability and decreased red tape from the IIJA will initiate and streamline the vast transformation ahead.2022 MEGATRE

106、NDS IN POWER|19P +1 913 458 2000 E MediaI W Black&Veatch Corporation,2022.All Rights Reserved.The Black&Veatch name and logo are registered trademarks of Black&Veatch Holding Company.REV 2022-04LEGAL NOTICE Please be advised,this report was compiled primarily based on information Black&Veatch receiv

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