RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2019-04-29 11:50:00

MULTI TRILLION DOLLAR ENERGY MARKET

MULTI TRILLION DOLLAR ENERGY MARKET

 

Mary Scott Nabers President/CEO, Strategic Partnerships

 

Mary Scott Nabers  is president and CEO of Strategic Partnerships Inc., a business development company specializing in government contracting and procurement consulting throughout the U.S. Her recently released book, Inside the Infrastructure Revolution: A Roadmap for Building America, is a handbook for contractors, investors and the public at large seeking to explore how public-private partnerships or joint ventures can help finance their infrastructure projects.

  

Energy Central - The country’s electric grid was once called one of the greatest engineering achievements of the 20th century.  Now, however, its three interconnected grids are decades old and the world has shifted. Billions of individual devices and population growth have increased demand exponentially. Technology advances with the potential to lower costs and ward off cyber dangers are critically needed.  And, commitments to clean and renewable energy sources have become mandates. Big changes are inevitable. 

Most of the systems in the U.S. were constructed in the 50s and 60s and they had a life expectancy of 50 years. Today, almost all operate at maximum capacity and they are all stretched to the limit. With population growth, spiraling demand, changes in power generation and mandates for the use of clean and renewable energy sources, change must come quickly.

Energy professionals throughout the country are looking for ways to increase capacity, provide storage, expand services and ensure security and sustainability. Those goals cannot be reached without collaboration from private-sector partners.

The increase in commitments to renewable energy, if nothing else, will push immediate change. California, New Mexico and Hawaii have passed legislation that mandates 100 percent renewable energy in the coming years. Chicago, Denver, Kansas City, Minneapolis and many other cities have similar commitments to renewable energy. Most power grids were not originally constructed for wind and solar options…that’s a problem that must be fixed.

Colleges and universities in the U.S. are also setting renewable energy goals. They want 100 percent of their power to come from renewable sources. The University of California System has launched initiatives to convert all its heating, cooling and other power requirements to electric by 2025.  That’s because they intend to use renewable energy sources.

In New York, a coalition has been formed to deliver half of the electricity required for each to renewable energy sources. The University of Buffalo, SUNY Buffalo State, SUNY Erie, the city of Buffalo and Erie County are collaborating to meet sustainability goals and the partners say that the savings realized will offset all upfront capital investment.

In Massachusetts, the Depart of Energy Resources (DOER) is seeking partners to provide offshore wind power and storage. Procurement officials have announced an upcoming request for proposals (RFP) that should be posted soon.  The selection of a private-sector partner is expected by November.

The Pennsylvania General Assembly is considering a bill to increase the state’s renewable energy by 30 percent.  Another bill being considered would require the state Public Utility Commission to consider the benefits of a renewable energy storage program. 

At the federal level of government, a bipartisan bill, the Energy Storage Tax and Deployment Act of 2019, establishes an investment tax credit for grid-connected energy storage systems used for residential power. Congressional sponsors say that the bill is intended to incentivize investment in storage for wind and solar energy.

All of this points to a large influx of new contracting opportunities for private-sector firms.  Here are but a few to watch:

 

  • New York Gov. Andrew Cuomo has announced that $30 million will be dedicated to projects that integrate renewable energy into the state’s electric grid. The state is tasked with producing 70 percent of its power needs with renewable energy by 2030. Potential private-sector partners are being asked to submit concept papers to the State Energy Research Division Authority. After applications are evaluated, a short-list of companies will be asked to submit full proposals. This process will continue until all funds are exhausted.
  • Hawaiian Electric Company (HECO) supplies electricity to 95 percent of the state’s residents.  HECO is expected to issue RFPs for renewable energy and storage soon. The move comes in response to new laws that require 100 percent reliance on renewable energy by 2045.
  • The U.S. Department of Agriculture will invest $485 million through an electric loan program.  The object is to upgrade rural electric systems and enable smart grid technologies. One already funded project will serve customers in the northeastern part of South Dakota and the southern part of North Dakota.  The $24.8 million project will improve 360 miles of power lines.
  • And, under the same loan program, the Heart of Texas Electric Co-op, which serves customers in Central Texas, will spend $31.25 million with a private-sector partner to build or improve transmission lines and launch smart grid technologies.

 

Renewable energy and clean power are among the hottest, most immediate priorities for cities, counties and states.  Sustainability and clean air are the drivers and billions will be spent in meeting mandated energy-related benchmarks. One estimate of what will be spent to revamp, expand and repair the country’s system of grids over the next decade is as high as $5 trillion.

The foundation for an emerging and highly lucrative marketplace for companies with technology, construction and industry offerings has been laid.

 -----

Log in to read the publication.

An authorized user gets access to four FREE publications per month.

You can also buy a full access to all publications of the site since January 2014.


Earlier:

MULTI TRILLION DOLLAR ENERGY MARKET
2019, April, 19, 09:20:00
U.S. NUCLEAR SECURITY
The US Department of Commerce (DOC) on 15 April submitted to the White House the results of an investigation into the effects of uranium imports on US national security. US President Donald Trump now has up to 90 days to decide whether to act on the DOC's findings and recommendations, which have not been made public.
MULTI TRILLION DOLLAR ENERGY MARKET
2019, April, 17, 11:25:00
U.S. ENERGY CONSUMPTION UP 4%
U.S. EIA - Primary energy consumption in the United States reached a record high of 101.3 quadrillion British thermal units (Btu) in 2018, up 4% from 2017 and 0.3% above the previous record set in 2007. The increase in 2018 was the largest increase in energy consumption, in both absolute and percentage terms, since 2010.
MULTI TRILLION DOLLAR ENERGY MARKET
2019, April, 17, 10:55:00
U.S. INDUSTRIAL PRODUCTION DOWN 0.1%
U.S. FRB - Industrial production edged down 0.1 percent in March after edging up 0.1 percent in February; for the first quarter as a whole, the index slipped 0.3 percent at an annual rate.
All Publications »
Tags: ENERGY, MARKET, USA
Chronicle:
MULTI TRILLION DOLLAR ENERGY MARKET
2019, August, 21, 11:55:00
INDONESIA'S COAL EXPORTS UP
Indonesia exported 30.6 million mt of thermal coal in May, up 6% on the month and up 20% on the year, according to latest customs data.
MULTI TRILLION DOLLAR ENERGY MARKET
2019, August, 19, 11:50:00
OIL PRICE: NEAR $59 YET
Brent was up 55 cents, or about 0.9%, at $59.19 a barrel, WTI were up 57 cents, or 1%, at $55.44 a barrel.
MULTI TRILLION DOLLAR ENERGY MARKET
2019, August, 19, 11:45:00
WORLD OIL DEMAND WILL UP BY 1.14 MBD
Total oil demand for the year is now anticipated to reach 99.92 mb/d. For 2020, world oil demand is expected to grow by 1.14 mb/d, in line with last month’s projection, with total world consumption anticipated to average 101.05 mb/d.
MULTI TRILLION DOLLAR ENERGY MARKET
2019, August, 19, 11:40:00
U.S. PETROLEUM DEMAND 20.8 MBD
Total U.S. petroleum demand averaged 20.8 million barrels per day (mb/d) in July 2019, which represented a 0.9% year-over-year increase and the highest demand for the month since 2005,
MULTI TRILLION DOLLAR ENERGY MARKET
2019, August, 19, 11:35:00
INDIA'S RENEWABLE INVESTMENT: $500-$700 BLN
India will require US$500 – 700 billion in renewable energy and supporting grid investment over the coming decade in order to meet its renewable energy targets
MULTI TRILLION DOLLAR ENERGY MARKET
2019, August, 19, 11:30:00
NORWAY'S JULY PRODUCTION 1.8 MBD
Preliminary production figures for July 2019 show an average daily production of 1 799 000 barrels of oil, NGL and condensate, which is an increase of 402 000 barrels per day compared to June.
MULTI TRILLION DOLLAR ENERGY MARKET
2019, August, 19, 11:25:00
U.S. SECURITIES ACQUISITIONS $1.7 BLN
The sum total in June of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $1.7 billion. Of this, net foreign private inflows were $6.1 billion, and net foreign official outflows were $4.5 billion.
All Publications »