In Brief
Energy and environmental policies continue to make headlines in 2022, emphasizing our rapidly changing renewable energy productions and the anticipated impacts of the Infrastructure Investment and Jobs Act, bipartisan legislation passed by the Biden administration in 2021. Now, economic examinations of wind farms, greenhouse gas emissions analyses, and overall energy-related policy estimations are vital studies needed to determine the future of our economic vitality. The global push for cleaner energy and improved air quality comes with new initiatives and the rearrangement of assets and funding.
It also implies that the former and current energy sources are either about to enter or are in the midst of a flux period dictated by impending legislation and technology. For instance, by adopting the Global Warming Solutions Act in 2008, Connecticut set a goal of reducing greenhouse gas (GHG) emissions by 80 percent below 2001 levels by 2050. Implemented strategies included building envelope improvements, creating energy management systems improvements including high-efficiency thermal systems, and decarbonizing the electric grid with zero-carbon resources such as solar photovoltaics (PV), wind, hydro, biomass, and nuclear generation.
, Visiting Assistant Professor of Economics and Consultant at the University of Connecticut, analyzed the effects of these strategies on the transportation, buildings, and electricity sectors in Connecticut. Dr. McMillen will be presenting this study via REMI webinar on Tuesday, February 1, from 2:00 - 3:00 pm (ET).
If you would like to attend, please register by clicking here . To view Dr. McMillen's full slide summary, please click here .
These growing national energy and environmental issues have solidified the importance of factoring in their policy impacts when considering the overall vitality of our economy for years to come. Thomas D. Peterson, President & CEO of the Center for Climate Strategies (CCS), conducted an analysis that underscores the strategic benefits of comprehensive approaches to managing greenhouse gas emissions.
Mr. S. " The study also explored the need for a national framework to support a balanced portfolio of actions and the importance of stakeholder involvement in policy development and management of the economy.
You can access the complete study by clicking here . If you are interested in hearing Mr. Peterson discuss this study in detail, please register for our upcoming guest webinar by clicking here .
The utility industry's transformation has also presented significant implications for regional development. Policy leaders are attempting to fully understand how communities will be affected as innovation and evolution occur in energy markets, given the potential for nationwide impacts. , are seeking to explain how economic impact analysis models equip the utility industry.
FirstEnergy's strategic initiatives to build resilient utility systems, creating 21st-century jobs, and develop clean energy sources, and Robey Analytics’ compilation of studies emphasizing how larger utility companies are approaching analytics using impact models are the focus of an upcoming discussion on Wednesday, February 16. " For more information on speakers and registration, please visit our website here . Changes in energy, the environment, and our knowledge of these topics are rapidly impacting the landscape of our planet and our ability to build resilient industries.
As entire states try to gain control of their environmental footprint, a shift in industries occurs. It is now vital that we stay ahead of the curve with effective policies and practices informed by economic modeling.