FERC Could Slash Inflation & Double Renewables with These Grid Upgrades
You don’t have to be an economist to know that inflation is one of the chief financial challenges facing Americans today. Key indicators point to energy prices as a principal driver of the increased cost of living, as gasoline soars over $5 per gallon and natural gas spikes lead to inflated utility bills.
However, clogged interconnection queues pose an increasing challenge for renewable energy developers, slowing the integration of clean and cheap resources onto the grid The Federal Energy Regulatory Commission is working to tackle this issue as the commission engages in its second transmission. The proposed new rule, which is now open to public comment, could be an important first step that would include several reforms to decrease interconnection wait times, which currently average an absurd 3.5 years.
However, requirements are likely not enough on their own and will need to be supported with incentives to reward utilities for deploying GETs in grid upgrades. Current “cost of service” regulation, which tends to bias utility investment toward large, capital-intensive projects, discourages regulated utilities from implementing this kind of low-capital technology.
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