Electrification is becoming increasingly interesting to the electric and gas industries, stakeholders, and policy makers. The electricity industry foresees a growth opportunity in efficient electrification, but identifies particular barriers that could restrain widespread electrification. Utilities and policymakers will need to carefully analyse technology applications, potential adoption rates, customers’ economic trade-offs, and grid and resource implications to assess costs and benefits, both financial and environmental. This latest EIU explores potential electrification scenarios across all major sectors of the U.S. energy system.
“Different stakeholders have different expectations and interests in electrification” said Justin Stevens, director at ScottMadden. “What we are seeing from recent projections is that the reality—when it comes to load growth, emissions reductions, or other expected outcomes—is dependent on a number of variables that could point to the limitation, or the significant opportunity, of widespread electrification”.
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