Electrification, Electric Vehicles, Energy Equity, and Renewables Top 2022 Emerging Energy Industry Predictions
energyOrbit Customers, Expert Sources Share Views on Changing Administration Goals, New Funding Sources, the Pandemic Impact
PETALUMA, Calif., March 1, 2022 /PRNewswire/ — A seismic shift is occurring in the energy industry, due in part to climate change, the COVID-19 pandemic, and the actions of a new U.S. Administration. Emerging as the top predictions for 2022 and beyond by senior leaders and customers of energyOrbit, the market-leading solution for cloud energy efficiency and Demand-Side Management (DSM) operations, are the adoption of electrification and electric vehicles, energy equity, and renewable and clean energy solutions.
"While these elements have been a focus for some time, it has only been more recently that several solutions and concerns have risen to the top," said Udi Merhav, CEO and founder, energyOrbit.
From views of energyOrbit's senior leaders about the evolution of the industry, to what they hear from utility customers, implementers, and supporting industries, many still struggle to catch up from COVID-related missed goals of 2020-21.
"Electrification is going to be huge," said Merhav. "Workforce development, such as green jobs, will continue to grow, around wind and solar generation technologies, value chain, and new jobs, such as EV charging stations technicians. Car dealerships will need to be incentivized to sell more EVs. But, most auto dealerships make money from service contracts and the aftermarket. If there is little to nothing to fix in EVs, how do we better integrate car dealerships into the electrification revolution?"
The energyOrbit team believes all deserve access to clean energy and energy efficiency. From the $5 billion earmarked in the federal infrastructure bill, $3.5 billion is aimed at low-income communities. This means that later in 2022, there may be a proliferation of low-income EE programs and enhanced existing programs; adhering to energy equity principles.
energyOrbit leaders also see these key areas having impact:
- Energy efficiency remains one of the lowest cost resources for utilities; avoided costs are substantial.
- Energy service companies will see a share of federal clean energy funding. Institutional buildings at federal and state level will benefit from the federal clean energy stimulus, e.g., airports are earmarked to receive $25 billion.
- A shift to demand response (DR) - especially auto-generated DR - will change the way value is calculated for energy efficiency. New cost test formulas may be needed.
- Smart, grid-connected customer technologies continue to evolve. Integrating systems, such as for EE and DR with emerging technologies, will be key.
- Climate change is now more than just a catchphrase. Utilities are starting to expand reporting from only energy saved to GHG impact.
- Decarbonization will continue to justify EE and electrification efforts, but utilities' response to climate change will focus on infrastructure and resilience.
"The biggest change will be with electric vehicles," said Merhav. "Manufacturers already are moving away from internal combustion engines. This market could create between $3 billion and $10 billion in new value through 2030 for an average energy business, with two million to three million customers, according to Boston Consulting Group. Energy providers should map out their EV value journey now, if they aren't already doing so."
About energyOrbit
Founded in 2009 and based in San Francisco, California, energyOrbit is the market-leading solution for cloud energy efficiency and Demand-Side Management operations. energyOrbit is deployed with leading utilities, program administrators, and third-party implementers across North America, enabling customers to realize an average of up to 75 percent improved efficiency and savings in their DSM operations. energyOrbit empowers utilities to deploy DSM programs in hours, scale programs and portfolios efficiently, and to streamline utility customer relationships, partners, and internal communications seamlessly.
As of 2019, energyOrbit has helped utilities and third-party implementers manage more than 24 TWh of electricity savings. Additionally, 11 GW of peak demand has been reduced by efficiency measures tracked by energyOrbit. More than $3.7 billion in incentives have been managed and prepared for payment. For details, visit www.energy-orbit.com and follow up on Twitter (@energyOrbit) and on LinkedIn.
Contact:
Cathy Morley Foster
Morley Foster Consulting for energyOrbit
925-708-7893
cmorleyfoster@energy-orbit.com
