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One of the biggest components of reducing America's dependence on fossil fuels is utility companies’ adoption and promotion of renewable energy.
At times it seems that many utilities are moving very slowly to implement the usage of clean energy sources. Navigant Consulting [8] (NYSE: NCI [9]) has recently released a report, "The 21st Century Electric Utility: Positioning for a Low-Carbon Future," [10] [pdf] which identifies essential trends that are making it necessary for U.S. utilities to provide cleaner energy. The report highlights four key industry trends:
The report also identifies obstacles that prevent utilities from greater investment in renewable energy:
The report, however, suggests that utility companies need to integrate renewable for their own continued health. The researchers conclude that utilities should manage their carbon emissions based on existing and foreseeable carbon-reduction requirements; pursue all cost-effective energy efficiency measures; integrate cost-effective renewable energy resources into the generation mix; incorporate smart grid technologies; and conduct robust and transparent resource planning. Utilities that implement these practices with support from legislators and regulators will be more likely to attract low-cost capital.
Learn more about Energy Efficiency on eBoom's Emerging Energy Learning [11] Page.
Image credit: Exelon Corporation
Alison Pruitt is a freelance writer/editor living near Washington DC. She has written about a variety of issues, including education, healthcare, IT, the arts, and energy/environment -- and has worked with the U.S. Department of Energy. She has a B.A. from Oberlin College and a Ph.D. in English Literature from Rutgers University.
Any opinion contained in this article is solely that of the writers, and does not necessarily shapes or reflect the editorial opinions of Energy Boom.
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.
Links:
[1] http://www.energyboom.com/emerging
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[3] http://www.energyboom.com/users/alison-pruitt
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[5] http://buzz.yahoo.com/buzz?targetUrl=http%3A%2F%2Fwww.energyboom.com%2Femerging%2Freport-describes-how-us-utilities-need-clean-energy-remain-competitive&headline=Report+Describes+How+U.S.+Utilities+Need+Clean+Energy+to+Remain+Competitive&summary=
[6] http://twitter.com/home/?status=RT+@energyboom+Report+Describes+How+U.S.+Utilities+Need+Clean+Energy+to+Remain+Competitive+--+http%3A%2F%2Fow.ly%2F1qICu2
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[8] http://www.navigantconsulting.com/
[9] http://www.google.ca/finance?q=NYSE%3A+NCI
[10] http://www.ceres.org/Document.Doc?id=601
[11] http://www.energyboom.com/../../emerging/learn
[12] http://www.energyboom.com/category/company/exelon-corporation
[13] http://www.energyboom.com/category/company/navigant-consulting
[14] http://www.energyboom.com/category/tags/energy-effiiciency
[15] http://www.energyboom.com/category/tags/integration-renewable-energy
[16] http://www.energyboom.com/category/tags/navigant-consulting
[17] http://www.energyboom.com/category/tags/nyse-nci
[18] http://www.energyboom.com/category/tags/21st-century-electric-utility-positioning-low-carbon-future
[19] http://www.energyboom.com/category/tags/utility-companies
[20] http://www.energyboom.com/category/industry-term/electricity
[21] http://www.energyboom.com/category/industry-term/energy
[22] http://www.energyboom.com/category/technology/pdf
[23] http://www.energyboom.com/category/region/us
