A Framework for Valuing Energy Resilience
Summary:
The impacts of climate change, including extreme weather events, exert immense pressure on our electrical grid and energy infrastructure, resulting in prolonged power outages that catastrophically disrupt our way of life. From climate-related disruptions to technological vulnerabilities, the need for energy resilience is evident.
Energy resilience refers to the ability of individuals, communities, or systems to withstand and recover from disruptions in energy supply while maintaining functionality and well-being. It also encompasses ensuring consistent access to energy resources, including electricity, heat, and fuel, in the face of various challenges such as natural disasters, cyberattacks, or supply chain disruptions.
By placing a quantifiable value on resiliency, we empower policymakers, industry stakeholders, and communities to make informed investments, prioritize infrastructure improvements, and develop policies that enhance reliability and contribute to the sustainability and inclusivity of our energy ecosystems. This report highlights the need for a comprehensive framework to help determine the valuation of energy resilience, accounting for an array of factors that go beyond traditional reliability metrics, such as integrating equity considerations into resilience valuation processes. By adopting a holistic approach that accounts for economic, environmental, and social dimensions, stakeholders can foster a more resilient energy landscape that safeguards both natural ecosystems and human communities against the impacts of climate change.
Author:
Jennifer Potter
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