Modernization Efforts Are Poised to Dramatically Reconfigure the Electric Grid
What’s mobilizing these efforts? Cost declines are one key driver of the expansion of grid modernization activities. The cost of wind and solar energy, and increasingly energy storage, electric vehicles, and other emerging technologies, have decreased to where they are often the lowest-cost option for both utilities and consumers. Environmental impacts, and related concerns, are also driving consumers and policymakers to seek out these emerging non-traditional options. At the same time, utilities continue to prioritize reliability and cost-effectiveness while finding effective ways to integrate these new technologies.