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DOE OSTI2022

Support for climate policy researchers

In the past 2 years, the European Union and the United States announced plans to spend $573 and $391 billion, respectively, through 2030 on climate actions and passed landmark legislation such as the US Inflation Reduction Act. Although unprecedented in size and scope, these combined investments of $964 billion pale in comparison to the more than $4 trillion in global clean energy investment needed annually by 2030 to stay on track for net zero greenhouse gas emissions by 2050. Furthermore, to maximize the impact of this public money, efficient policies informed by independent, objective analysis will be needed. Yet scientists who commit to policy-relevant research face unique challenges that must be addressed.

54 ENVIRONMENTAL SCIENCES↗

DOE OSTI2020

Case Studies of the Economic Impacts of Power Interruptions and Damage to Electricity System Infrastructure from Extreme Events

The risks of long-duration, widespread interruptions (LDWIs) in electrical power are a concern of U.S. regulators, the electric power industry, and stakeholders. Those responsible for making decisions about increasingly costly investments to prevent such interruptions and to facilitate rapid recovery when they do occur need relevant information on which to base those decisions. Although a number of studies have examined the physical and engineering impacts of extreme weather and other precipitating events on the bulk power system, decision makers evaluating investments in preventive strategies need information on the costs of past power interruptions and the benefits of preventing them in the future. This paper contributes to addressing this need by offering six case studies that detail the economics, at the level of the utility service territory, of power interruptions caused by extreme weather and lasting from a few days to several weeks. These intermediate-duration interruptions have been, and will continue to be, the most common type of major electric power disruption. They are longer than the short-term disruptions addressed in utility reliability planning, but not as long or widespread geographically as the national-scale interruptions with durations of many weeks, months, or longer that have been examined in some recent studies.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗