Several promising trends for utilities will likely continue next year, but they may be blunted by challenges such as rising retail electricity prices, according to a report released last week by Deloitte, a consulting firm.
“Supply chain snags, rising costs and extreme weather are likely to continue plaguing the power sector,” Deloitte said in the Dec. 7 report. “But promising trends in innovation and investment, buoyed by recent legislation, can help the sector fulfill its mission.”
Some developments likely to continue into 2023 are an increase in renewable energy deployment, funding from the $1.2 trillion Infrastructure Investment and Jobs Act to support grid modernization and clean energy and electric vehicle sales that grew to 6.3% of light-duty vehicle sales in the first half this year, according to the…
Cost concerns could blunt ‘promising’ utility trends on energy storage, smart meters, EVs: Deloitte
