According to the Edison Electric Institute, there have been continued high level investments in transmission infrastructure, a trend that started back around 2013, and is expected to last through 2025.
In its report, Transmission Projects: At A Glance, the institute signaled that while such investments have been considered high risk in the past, as long as the Federal Energy Regulatory Commission continues to provide ROI’s proportionate to the level of risk, it should have no problem attracting the level of investment needed for continuing development on transmission projects and advanced technologies.
Recent investments tracked by the institute go towards improving the technology in advanced monitoring systems for the U.S.’s transmission infrastructure, as well as support more renewable resources like wind power, solar power, hydroelectricity, geothermal, biomass, and biofuels. Overall, $22.1 billion is allocated for projects supporting the integration of renewable resources.
Financial statistics included in the report were based on the plans of the EEI’s member companies. Overall, 170 major transmission projects were taken into account.
“The high level of investment in our nation’s transmission infrastructure improves reliability and benefits customers by enabling utilities to deploy new technologies, such as advanced monitoring systems, that help to make the grid more flexible and more resilient,” noted EEI VP of Energy Deliver Jim Fama in a press release from the institute. “These investments also relieve transmission congestion, facilitate wholesale market competition, and support a diverse and changing generation portfolio that includes more renewable resources, such as wind and solar power.”
EEI has now released an updated version of the report for nine consecutive years.