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Cost-Benefit Analysis of Electricity Resilience Projects: State of the Art and Gap Analysis

Utilities and regulators must weigh the benefits of electricity resilience projects against their costs, which would be passed on to customers. Cost-benefit analysis (CBA) is an appropriate method for assessing this tradeoff. Here, in this paper we review the literature on CBA of electricity resilience projects and analyze gaps in the available methods and tools. The costs of resilience projects are typically straightforward to estimate but their benefits — particularly the avoided costs of power interruptions — are complex to quantify and monetize. A common perception among practitioners is that current CBA tools are not sufficiently mature to be adopted into real-world practice. We propose an electricity resilience CBA framework consisting of several elements: risks, physical impacts, power interruptions, economic impacts, and resilience projects. While methods for some elements are well-developed, there is a need for novel approaches to value avoided power interruptions, integrate multiple risks and benefit streams, and incorporate uncertainty.

Cost-benefit analysis

The formation and structure of iron-dominated planetesimals

Metal-rich asteroids and iron meteorites are considered core remnants of differentiated planetesimals and/or products of oxygen-depleted accretion. Investigating the origins of iron-rich planetesimals could provide key insights into planet formation mechanisms. Using differentiation models, we evaluate the interior structure and composition of representative-sized planetesimals (~200 km diameter), while varying oxygen fugacity and initial bulk meteoritic composition. Under the oxygen-poor conditions that likely existed early in the inner regions of the Solar System and other protoplanetary disks, core fractions remain relatively consistent across a range of bulk compositions (CI, H, EH, and CBa). Some of these cores could incorporate significant amounts of silicon (10–30 weight%) and explain the metal fractions of Fe-rich bodies in the absence of mantle stripping. Conversely, planetesimals forming under more oxidizing conditions, such as beyond snow lines, could exhibit smaller cores, enriched in carbon, sulfur (>1 wt%), and oxides. Sulfur-rich cores, like those formed from EH and H bulk compositions, could remain partly molten, sustain dynamos, and even drive sulfur-rich volcanism. Additionally, bodies with high carbon contents, such as CI compositions, can form graphitic outer layers. These variations highlight the importance of initial formation conditions in shaping planetesimal structures. Future missions, such as NASA’s Psyche mission, offer an opportunity to measure the relative abundances of key elements (Fe, Ni, Si, and S) necessary to distinguish among formation scenarios and structure models for Fe-rich and reduced planetesimals.

meteorites