Industrial Talk is onsite at DistribuTECH and talking to Jim Thomson, Vice Chair - Power, Utilities, Renewables with Deloitte Consulting about "Smart strategies for decarbonizing the power industry and grid investments". Here are some of the key takeaways from our conversation:
- Decarbonizing the power sector and industry professionals' innovations. 0:03
- Scott Mackenzie interviews Jim Thomson, Vice Chair of Deloitte Consulting, at Distributech Orlando.
- Jim reflects on progress in decarbonizing the power sector, noting increased momentum since 2022.
- Topics discussed in 2022 included decarbonizing the world and stopping global warming, with a focus on 2030/2035 decarbonized grid.
- Decarbonization challenges in the power industry, including grid investment and permitting issues. 3:55
- Jim: Decarbonizing power industry by 2050 requires 3x increase in renewable generation.
- Regulators face challenge of balancing consumer affordability with decarbonization goals.
- Jim: Utility companies need more investment in grid and clean energy sources, but regulators face challenges in increasing customer rates.
- Jim: Historical permitting and interconnection issues hinder offshore wind projects, causing developers to face financial challenges.
- Renewable energy, battery storage, and supply chain resilience. 9:08
- Jim discusses the tipping point for electric vehicles in the US, mentioning the need for increased electrification and new market models.
- Jim highlights the potential for battery storage technology to address grid issues, with advancements in battery manufacturing and new storage technologies emerging.
- Jim discusses the challenges of relying on traditional supply chains for rare earth elements in renewable energy technologies.
- Jim notes that the transition to renewable energy is happening rapidly and requires nimbleness to keep up with changing technologies.
- Power grid modernization, renewables, and energy storage. 13:59
- Scott MacKenzie and Jim discuss the evolution of advanced metering infrastructure (AMI) and its impact on the grid.
- They highlight the need for utilities to manage holistically complex grids with multiple generation and consumption points through distributed energy resources management systems and advanced distribution management systems.
- Jim highlights the complexity of power delivery and the importance of reliable, affordable, and secure power.
- Jim and Deloitte work with clients across various industries to support them in a time of change and transformation.
- Scott MacKenzie: "Connect with Jim for knowledge and sage advice in power, utilities, renewables."
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