The current electricity grid must be changed in order to accommodate sustainable energy in the future. Businesses, utilities, and governments must collaborate to get there. Clean electricity is expected to power our smart buildings, vehicles and other electrification technologies in the future. Energy consumption is projected to increase and surge 50 percent globally by 2040.
In the U.S., significant investments are being directed towards transitioning to a cleaner energy economy, including:
- The U.S. federal government has announced up to $3.5 billion for 58 projects across 44 states to strengthen electric grid resilience
- These projects will tap into more than $8 billion in federal and private investments
- 94 percent of the projects in the United States interconnection queues are renewable or energy storage projects
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