Applications of Measuring and Valuing Resilience in Energy Systems

Summary

This NREL report, published in August 2023, examines methodologies for measuring and valuing resilience in energy systems, particularly in the context of climate change and its exacerbating effects on hazards. It highlights that major power outages in the U.S. cause an estimated $43 billion to $62 billion in damages annually, with Hurricane Sandy alone resulting in $19 billion in NYC damages. The report proposes a five-step probabilistic risk assessment framework and discusses how resilience investments, such as those related to EV adoption, building efficiency, and microgrids in New York State, can mitigate risks. While New York aims for 70% renewable electricity by 2030 and 100% by 2040, the report also notes trade-offs, such as the cancellation of the New York Prize microgrid competition's final stage due to proposed fossil-fuel systems. The Empire State Plaza microgrid project was subsequently revised to include a 30-MW solar array and $46 million in energy efficiency upgrades, moving away from an 8-MW gas turbine CHP plant.

Key Facts

Source Document

https://example-government.gov/policy-document-link