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They must simultaneously mitigate their carbon footprints while adapting to a drastically changing climate and enabling sustainable, clean electrification.The climate challenge is particularly acute for utilities since they are a major producer of carbon who are simultaneously susceptible the erratic weather that can result.Īffordable and reliable electrification is critical to long-term sustainability efforts. Now utilities are confronting more than just growing demand. China, meanwhile, spent an average of USD 79 billion on its grid annually, according to the IEA, between 2015-2019-an amount that will more than double to USD 180 annually over the next five. The American Society of Civil Engineers projects a USD 197 billion investment gap in power generation, transmission and distribution by 2029, while the Boston Consulting Group notes the US grid needs at least USD 200 billion in investment by 2030 to simply meet demand for new EVs. Yet a grid can only get so big, at least economically. This often meant simply building in greater capacity. Historically, resilience meant engineering the grid for worst case scenarios that could overwhelm the grid and lead to outages. It’s an increasingly common and notable example because outages are already being exacerbated by the very climate challenges that more resilient and renewable grid schemes aim to address. A more resilient grid is a stronger grid, and a stronger grid is a more resilient one.” We also lose our ability to travel, to heat our homes, to work or run our businesses. Sacks offers an example of the challenges that must be overcome in shifting to clean (and thus electrified) power: “In the near future, in an extended power outage, say two or three days, not only do we lose electricity for lighting, entertainment and keeping our food cold. The data grid utilizes AI to address issues in real time. Even on a still, cloudy day, people will need power-especially in digital, connected era. This is where evolving technologies like batteries, micro-grids and even reverse hydro and compressed air come in. Wind and solar power can fluctuate, unlike fossil fuels, which are stored before being turned into power in solid (coal, wood, plutonium) or liquid (oil, gas) forms. Renewable energy requires more complex storage and management infrastructure. It’s about migrating in a way that consumers can consistently use and rely on.” “It’s not just about simply migrating over to renewable sources though. “Power generation accounts for approximately 35 percent of global emissions, with ground transportation contributing another 20 percent, so the pressure to move towards renewable electrification is quite tremendous,” Bryan Sacks, the CTO for the Energy, Environment & Utilities industry at IBM, pointed out in an interview with Industrious. It’s why the power grid-and the growing data that simultaneously manages that grid and requires more of its energy-has become a central focus of the Biden administration and many others as governments tackle new infrastructure programs. As people seek solutions for a recession, a post-COVID-19 world and climate change, things as diverse as caregiving, affordable housing and blockchain have been held up alongside more conventional infrastructure like roads and bridges.Ĭonsider, then, the wire, which manages to bind us more than ever, especially in a WiFi world.Īlready essential to how we build, move and consume, affordable and reliable electrification becomes even more critical to long-term sustainability efforts. It’s a question the unveiling of the American Jobs Plan last month has spurred both online and around the globe. Visit or follow us on Facebook, LinkedIn, Instagram, and Twitter.What counts as infrastructure these days? In 2021, the group's revenue was DKK 77.7 billion (EUR 10.4 billion). Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). Headquartered in Denmark, Ørsted employs 7,016 people. Ørsted ranks as the world’s most sustainable energy company in Corporate Knights' 2022 index of the Global 100 most sustainable corporations in the world and is recognised on the CDP Climate Change A List as a global leader on climate action. Ørsted is the only energy company in the world with a science-based net-zero emissions target as validated by the Science Based Targets initiative (SBTi), and Ørsted aims to deliver a net-positive biodiversity impact from all new renewable energy projects it commissions from 2030 at the latest.
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Moreover, Ørsted provides energy products to its customers. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities, and bioenergy plants. The Ørsted vision is a world that runs entirely on green energy.