As the U.S. electric industry faces the need for more resiliency and reliability in a decarbonizing world, Black & Veatch’s 2024 Electric Report illustrates immense opportunity in renewables and...
Nearly 700 survey respondents cite renewable integration, aging infrastructure and environmental regulations as top challenges
OVERLAND PARK, Kan.: As the U.S. electric industry faces the need for more resiliency and reliability in a decarbonizing world, Black & Veatch’s 2024 Electric Report illustrates immense opportunity in renewables and sustainable infrastructure while highlighting the challenges of addressing grid modernization and cybersecurity threats.
In its 18th-year of the report, survey respondents tell the story of a U.S. electric sector far different from 2006. Climate events increasing in frequency and severity, cyberattacks that are more sophisticated and potentially damaging, and a rise in data centers all are adding pressure to power providers. New federal funding and regulations have increased opportunity and incentives for the industry to modernize and become more sustainable, though more than half of respondents (54 percent) see regulation as a challenge.
“The 2024 Electric Report encapsulates a state of the industry that allows utilities to better understand how their peers approach modern challenges,” said Jim Doull, Executive Vice President, now leading Power Providers sector. “While regulations and funding move forward, each electric utility may find itself following different paths when it comes to accessibility or prioritization, and this report offers the necessary insight to understand what comes next in advancing the future of U.S. energy.”
The 2024 Black & Veatch Electric Report findings surfaced four challenges utilities face, including:
“By assessing where the electric industry is on an annual basis, we are able to better track emerging trends, as well as where the industry has seen pain points throughout the years,” continued Doull. “With the rise of artificial intelligence (AI), we see increasing demand for data centers – challenging the grid to keep up with load growth – which also brings a need for IT and OT cybersecurity, making today’s challenges look different than they did nearly 20 years ago, when we first published this report.”
As the electric industry shifts, new threats arise and old challenges remain, utilities continue to plan for the future and secure reliable, consistent energy for their communities. And as new funding becomes available and regulations reveal themselves, leaders such as Black & Veatch continue to stay up to date on emerging trends and technologies to best serve their clients and prepare the U.S. power sector for what’s ahead — whether it’s supporting the energy transition or assessing software and systems.
Contact Black & Veatch for more information.
Editor’s Notes:
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. Follow us on www.bv.com and on LinkedIn, Facebook, X (Twitter) and Instagram.
Fonte: Business Wire
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