American Utilities: Hot for the Smart Grid and Warming to Renewable Energy
A new survey of American utility companies offers some very revealing information about the U.S. energy industry and renewable energy.
Black & Veatech, a construction and engineering company focused on energy and water infrastructure has published its annual "Strategic Directions in the Electric Utility Industry Survey." Their research shows that for the second year in a row capital spending on electric grid infrastructure by utilities has dropped -- this has not happened since the days of the Great Depression in the 1930s.
Instead, utilities are funneling more money into information technology and developing a smart grid. Furthermore, spending on energy efficiency programs has increased substantially.
Interestingly, the utilities that took part in the survey believed that nuclear power held the greatest potential to provide clean energy and reduce America's greenhouse gas emissions. Wind power and natural gas were second and third.
Meanwhile, 70% of the respondents said they will be developing a wind power project within the next three to five years. Finally, 73% said they will be developing a solar power project within the same time frame.
Read the full story at ZDNet.com: Survey: Utilities believe nuclear, wind have most potential to serve environmental needs
Nathanael Baker is the Managing Editor of EnergyBoom. He has researched and reported on the issues of renewable energy, sustainability, and climate change for over two years. He has provided research to the New York Times and The Economist, as well as being published on different media outlets including, The Energy Collective.
Energy Boom content is for informational purposes only and is not intended to be advice regarding the investment merits of, or a recommendation regarding the purchase or sale of, any security identified on, or linked through, this site.
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