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Released September 30, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. electricity transmission system needs to grow by 2.3% per year to meet the emissions reduction potential of the Inflation Reduction Act (IRA), according to a recent research report. However, Britt Burt, Industrial Info's vice president of research for the Global Power Industry, believes that growth rate "sounds small in the grander scheme of things."
Princeton University's Zero-carbon Energy Systems Research and Optimization Laboratory (ZERO Lab) leads the Rapid Energy Policy Evaluation and Analysis Toolkit (REPEAT), which "provides regular, timely, and independent environmental and economic evaluation of federal energy and climate policies as they're proposed and enacted," according to the project website.
"To unlock the full emissions reduction potential of the Inflation Reduction Act, the pace of transmission expansion must more than double the rate over the last decade to reach an average of ~2.3%/year," the report said, noting the IRA could "cut U.S. greenhouse gas emissions by roughly one billion tons per year in 2030 ... That outcome depends on more than doubling the historical pace of electricity transmission expansion over the last decade."
Burt believes the 2.3%-per-year growth is fine for reaching that emission reduction target, but added President Joe Biden's goal of net-zero emissions from the U.S. power sector by 2035 requires the transmission grid to undergo a "$4.2 trillion facelift."
"This includes new lines and modernization of an antiquated system designed for base load electricity sources from nuclear and fossil-fueled plants. The modernization and upgrade of the existing grid would include retrofits to integrate intermittent power sources such as solar and wind," Burt said. "We would also need major investment to build new high-voltage, direct-current transmission lines to deliver renewable energy across long distances from regions with plentiful renewable sources to those that are lacking in those resources."
Industrial Info is tracking $51.4 billion worth of active electricity transmission projects in the U.S. with a medium or high (70-99%) probability of moving forward as planned, according to Industrial Info's Global Market Intelligence (GMI) Power Project Database, including $6.5 billion worth under construction. Subscribers can click here for a full list of detailed project reports, and here for projects under construction.
The highest-valued project is Direct Connect Development Company's (DC DevCo) (Minneapolis, Minnesota) SOO Green Renewable Rail project, an underground transmission line that is expected to carry renewable energy from Mason City, Iowa, to the Chicago area. The 349-mile, estimated $1.29 billion transmission line would run along existing railroads and carry 2.1 gigawatts (GW). According to the project website, it will be the first transmission project in North America to be installed underground along existing transportation corridors. Subscribers can click here for the project report, and here for all related projects.
Among the transmission projects under construction are the Energy Gateway South transmission line, a 416-mile, 500-kilovolt (kV) transmission project extending from the Aeolus Substation near Medicine Bow, Wyoming, through northwestern Colorado and end at the Clover Substation near Mona, Utah. It is part of a larger, region-wide Energy Gateway transmission expansion attributed to PacifiCorp (Portland, Oregon), a unit of Berkshire Hathaway (NYSE:BRK.A) (Omaha, Nebraska).
Subscribers can click here for a list of detailed project reports related to Gateway South.
In New York, New York Power Authority's (NYPA) $535 million transmission line from Massena to Glenfield, which is more than 70 years old, is being rebuilt. The project involves replacing about 76 miles of line between the Moses and Adirondack substations, and would "support future upgrades in voltage, which would allow for greater transmission of energy from renewable sources developed in Northern New York," according to NYPA. Subscribers can learn more from project reports on the first half and second half of the Massena-Glenfield line.
Meanwhile, Dominion Energy (NYSE:D) (Richmond, Virginia) is rebuilding five transmission lines in Virginia and another in West Virginia, including a $225 million rebuild from Mount Storm, West Virginia, to Augusta County, Virginia, with about 64 miles of overhead line and poles set to be replaced. The 500-kV line has been in operation for more than five decades, according to the Dominion company website. Subscribers can click here for a full list of project reports, which includes the Mount Storm project.
Wind Energy Transmission Texas LLC (Austin), a joint venture with Axium Infrastructure (New York, New York), is constructing a $83 million transmission line from the Bearkat Substation in Garden City, Texas, to the Longshore Substation in Big Spring, about 40 miles east of Midland. The 27-mile, 345-kV overhead line would increase grid reliability issues in the area. Completion is expected in late 2023. Click here for a detailed project report.
In May, the Federal Energy Regulatory Commission (FERC), an independent branch of the Department of Energy (DOE), voted to issue a Notice of Proposed Rulemaking (NOPR) aimed at expediting electric transmission planning, cost allocation and construction, among other efforts. For more information, see Industrial Info's May 13, 2022, article - FERC Draft Rule Aims to Expedite Transmission Planning and Construction.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Princeton University's Zero-carbon Energy Systems Research and Optimization Laboratory (ZERO Lab) leads the Rapid Energy Policy Evaluation and Analysis Toolkit (REPEAT), which "provides regular, timely, and independent environmental and economic evaluation of federal energy and climate policies as they're proposed and enacted," according to the project website.
"To unlock the full emissions reduction potential of the Inflation Reduction Act, the pace of transmission expansion must more than double the rate over the last decade to reach an average of ~2.3%/year," the report said, noting the IRA could "cut U.S. greenhouse gas emissions by roughly one billion tons per year in 2030 ... That outcome depends on more than doubling the historical pace of electricity transmission expansion over the last decade."
Burt believes the 2.3%-per-year growth is fine for reaching that emission reduction target, but added President Joe Biden's goal of net-zero emissions from the U.S. power sector by 2035 requires the transmission grid to undergo a "$4.2 trillion facelift."
"This includes new lines and modernization of an antiquated system designed for base load electricity sources from nuclear and fossil-fueled plants. The modernization and upgrade of the existing grid would include retrofits to integrate intermittent power sources such as solar and wind," Burt said. "We would also need major investment to build new high-voltage, direct-current transmission lines to deliver renewable energy across long distances from regions with plentiful renewable sources to those that are lacking in those resources."
Industrial Info is tracking $51.4 billion worth of active electricity transmission projects in the U.S. with a medium or high (70-99%) probability of moving forward as planned, according to Industrial Info's Global Market Intelligence (GMI) Power Project Database, including $6.5 billion worth under construction. Subscribers can click here for a full list of detailed project reports, and here for projects under construction.
The highest-valued project is Direct Connect Development Company's (DC DevCo) (Minneapolis, Minnesota) SOO Green Renewable Rail project, an underground transmission line that is expected to carry renewable energy from Mason City, Iowa, to the Chicago area. The 349-mile, estimated $1.29 billion transmission line would run along existing railroads and carry 2.1 gigawatts (GW). According to the project website, it will be the first transmission project in North America to be installed underground along existing transportation corridors. Subscribers can click here for the project report, and here for all related projects.
Among the transmission projects under construction are the Energy Gateway South transmission line, a 416-mile, 500-kilovolt (kV) transmission project extending from the Aeolus Substation near Medicine Bow, Wyoming, through northwestern Colorado and end at the Clover Substation near Mona, Utah. It is part of a larger, region-wide Energy Gateway transmission expansion attributed to PacifiCorp (Portland, Oregon), a unit of Berkshire Hathaway (NYSE:BRK.A) (Omaha, Nebraska).
Subscribers can click here for a list of detailed project reports related to Gateway South.
In New York, New York Power Authority's (NYPA) $535 million transmission line from Massena to Glenfield, which is more than 70 years old, is being rebuilt. The project involves replacing about 76 miles of line between the Moses and Adirondack substations, and would "support future upgrades in voltage, which would allow for greater transmission of energy from renewable sources developed in Northern New York," according to NYPA. Subscribers can learn more from project reports on the first half and second half of the Massena-Glenfield line.
Meanwhile, Dominion Energy (NYSE:D) (Richmond, Virginia) is rebuilding five transmission lines in Virginia and another in West Virginia, including a $225 million rebuild from Mount Storm, West Virginia, to Augusta County, Virginia, with about 64 miles of overhead line and poles set to be replaced. The 500-kV line has been in operation for more than five decades, according to the Dominion company website. Subscribers can click here for a full list of project reports, which includes the Mount Storm project.
Wind Energy Transmission Texas LLC (Austin), a joint venture with Axium Infrastructure (New York, New York), is constructing a $83 million transmission line from the Bearkat Substation in Garden City, Texas, to the Longshore Substation in Big Spring, about 40 miles east of Midland. The 27-mile, 345-kV overhead line would increase grid reliability issues in the area. Completion is expected in late 2023. Click here for a detailed project report.
In May, the Federal Energy Regulatory Commission (FERC), an independent branch of the Department of Energy (DOE), voted to issue a Notice of Proposed Rulemaking (NOPR) aimed at expediting electric transmission planning, cost allocation and construction, among other efforts. For more information, see Industrial Info's May 13, 2022, article - FERC Draft Rule Aims to Expedite Transmission Planning and Construction.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
