Power Switch: The Future of the Electric Power System in the Northeast and the Disruptive Power of Innovation
By M.J. Bradley & Associates | October 2016
The Northeast states are at the vanguard of changes transforming the way electricity is produced and delivered in the U.S. Power Switch and its companion video, by M.J. Bradley & Associates, explores the trends reshaping the Northeast electric power markets, as well as future challenges and opportunities for states in the region.
Rapidly advancing technology, innovative state policy, along with low gas and fast declining renewable prices have and will continue to create significant changes within the electric power markets. In New York and New England, for example, coal-fired generation has declined by more than 80% since 2005. The Northeast states have been successful in cutting carbon pollution from the electricity sector while growing their economies. Now these states are eyeing economy wide reductions, requiring more policy innovation and clean energy investment. The future of their electric system will include more interconnected devices, more intermittent renewables, and a smarter, nimbler, more distributed grid.
In this report and companion video, M.J Bradley & Associates, a premiere expert research firm, captures the disruptive power of technology and policy innovation and lays out the challenges and opportunities that lie ahead for the Northeast states.
KEY FINDINGS
A combination of smart state policy choices, competitive markets, natural gas prices and technology innovation are driving major changes in the Northeast electricity markets and a shift to clean energy in the region.
The disruptive power of innovation in technology and policy is creating challenges but also exciting opportunities for the Northeast states.
The Northeast states were among the first in the nation to adopt a competitive utility market structure, and the first to adopt a regional market-based carbon-trading program, the Regional Greenhouse Gas Initiative (RGGI) – putting these states well ahead of the nation, and accelerating the region’s shift to cleaner energy while growing the economy.