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How unused energy resources affect the global economy

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NEW YORK, NY, July 30, 2021 (GLOBE NEWSWIRE) — The electric power industry is changing very rapidly. Customers and businesses are looking for more cost-effective ways to increase renewable electricity generation from wind, solar and hydropower, deploy electric vehicles, charging stations, and electrify buildings, and decrease methane from natural gas — a shift that brings significant benefits to global energy and the global economy.

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However, with these benefits in mind Dr. Jo Nyanjun, a global energy economist and expert in clean energy technology, warns that if the transition to these unused energy resources is not handled properly, energy systems and costs could be negatively affected, putting the world’s energy landscape in an even worse place. it now. right Now. Handling these transitions properly is critical, not only to the safety of our climate, but to the well-being of economies around the world. Regulators and utilities agree that this energy transition needs to be managed in a pragmatic and purposeful way so that it does not perpetuate the institutional carbon caps technology pool and track dependency.

Doctor. Nyangon has dealt with solving these types of energy problems throughout his career spanning over 15 years. With MA, Ph.D. and a postdoc in Energy Economics and Systems Engineering from Columbia University and the University of Delaware, and currently works at SAS as an energy and utilities subject matter expert to aid utility customers and regulatory authorities track energy evolution, specifically advising them on how to decarbonize the areas of decentralization and digital transformation. Changing the coming of global energy systems and electric power infrastructures. Through this, Dr. Nyangon plays a vital role in designing unused advanced analytics solutions to understand how the coming will be affected by changes to energy systems, and specifically educating the people who will pay to make the changes.

Current trends and developments in the energy business are placing enormous pressures on utilities, leading to changes in the production, transmission and consumption of electricity. Among the biggest influencers on modern energy systems are the democratic choice and decentralized generation of renewable energy.

Democratic choice refers to the energy resources and structures that allow customers to take key actions such as peak shaving, flexible loading, installation of network automation and intelligence solutions. Decentralized generation of renewable energy refers to energy sources that can be produced near the site of consumption, such as solar panels. The growth in renewable electricity generation has been driven by customers’ preference for distributed energy as a way to decrease costs and acquire greater control over their energy supply.

With these two factors in mind, countries persevere to promote 100% renewable electricity generation through ever higher renewable portfolio standards in order to accomplish a clean energy economy. Doctor. Nyangon warns that if cleaner, lower-cost energy sources are introduced very quickly and in big quantities without building a modern electric grid to replace outdated and outdated distribution and transmission systems, solar and wind energy could negatively impact power systems due to fluctuations caused by changes in weather conditions. , creating a unique challenge known as the “duck curve”.

The “duck curve” refers to the idea that current energy systems cannot fully harness the power and benefits of solar energy. Failure to use this type of energy properly could lead to service interruptions and higher costs for energy providers, which could lead to higher payments to customers, putting even greater pressure on the economy as a whole. The cost of any considerate of blackout to customers is staggering, not just for utilities but for consumers and even the local economy in terms of revenue lost during a forced blackout. Navigating these types of potential changes in the energy industry is critical to the coming of these systems and how much businesses and consumers will pay for them.

“Our aptitude to electrify transportation, buildings, and heavy industrial processes is the critical challenge in tackling the climate crisis,” Dr. Nyanjun says. “Mitigating climate and energy transition risks requires improving processes and strategies to decrease the risks of energy investments. This entails lengthy-term climate risk hedging strategies and transition mitigation strategies to meet the challenges of stranded electricity assets.”

Awareness of Dr. Nyangon is leading an effort at SAS to develop unused models and tools for evaluating and pricing risks and opportunities. This entails creating strategies for hedging climate risks and mitigating shift risks to ensure the resilience of utility assets in the confront of these risks.

Utilities must seamlessly transition toward lower carbon footprint business practices and processes, so that modern power systems are more cost-effective. These shifts are likely to include the implementation of alternative utility regulation and pioneering models for network modernization. Doctor. Nyangon believes that the most promising solutions that exist today will mix renewable energy and natural gas resources (as a bridge fuel for a low-carbon coming) to spur development of DER (Distributed Energy Resources) and aid accomplish a competitive ROI (return on investment) for customers.

As a powerful confluence of architectural, technological, and socioeconomic forces transforms the electricity market in the United States, similar changes have been observed in global energy. These changes can be very cost-effective measures for consumers, businesses and countries, but only if they are implemented carefully. Failure to do so could lead to greater challenges to infrastructures and economies than we have now, setting back the global energy coming for years to come.

Doctor. Nyanjun cites educator Peter Drucker’s advice that “the best way to predict the coming is to create it” as a personal motivator and this certainly applies to his work. Helping customers transition smoothly to business practices and processes for minimal carbon footprint, improving businesses today and creating a better energy industry for the coming.

For more information about Dr. Jo Nyangon has worked in the energy industry, visit www.josephyangon.com. For a more in-depth look at the coming of global energy, listen to Electrifying AI’s electronic podcast.

Contacts:

Doctor. Jo Nyang
www.josephnyagon.com
info@josephnyagon.com

Referensi: finance.yahoo.com

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