A new report from Navigant Research analyzes the emergence of strategic electrification technologies and various deployment strategies and business models.
Strategic electrification encompasses the deployment of new technology solutions that use less carbon-intensive, grid-delivered electricity and distributed renewable energy instead of fossil fuels. Click to tweet: According to a new report from @NavigantRSRCH, strategic electrification technologies can lower customer costs, reduce environmental impacts, and enable local grid operators to flexibly reduce the cost and carbon intensity of delivered energy.
The primary focus for strategic electrification is expected to be the optimization of vehicle charging due to the growth of electric vehicles, says William Tokash, senior research analyst with Navigant Research. Other customer-focused residential and commercial technologies such as distributed solar PV with battery energy storage, air source heat pumps for space heating, cooling, and water heating, and certain industrial electrified solutions are expected to play a lesser role in the growth of strategic electrification.
To stay competitive in this market, Navigant Research suggests DER technology stakeholders work together to support strategic electrification and ensure new business models enable local grid operators to flexibly reduce the cost and carbon intensity of delivered energy. Additionally, DER technology stakeholders should explore customer-facing financing options, while EV stakeholders should focus on the potential advantages of electrified vehicle fleet options.
The report, Strategic Electrification Offers Load Growth and Carbon Reduction Opportunities, examines the emergence of strategic electrification technologies and various deployment strategies and business models. The study analyzes the lower cost, greener technology options that electrification creates and explores how they enable customers and grid stakeholders to reduce energy use and carbon emissions. It also provides recommendations for grid operators, EV technology vendors, automotive OEMs, and utilities and energy suppliers, among other energy sector stakeholders, on how to take advantage of the benefits of strategic electrification. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The teams research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigants professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigants practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Strategic Electrification Offers Load Growth and Carbon Reduction Opportunities, is a summary and reflects Navigant Researchs current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the reports conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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