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Energy Policy and Innovation Center (EPICenter)
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ItemCarbon Capture, Utilization, and Storage in the Southeastern U.S.: Cost Competitive?(Georgia Institute of Technology, 2022-11-05) Simmons, Richard A. ; Murphy, SharonAchieving net zero carbon emissions will require a combination of renewable energy technologies and carbon capture. Indeed, a great deal of investment has been devoted to the source side of the ledger, such as replacing fossil fuels with renewables, making combustion processes more efficient, and leveraging nuclear energy. Considerably less funding has flowed toward solving the problem of accumulating emissions in the atmosphere, for instance by capturing carbon at the point of electricity generation, or extracting carbon prior to combustion. Nonetheless, a variety of studies have shown that the lowest societal cost means of achieving net zero emissions, as well as ensuring a resilient grid, must include carbon capture. This whitepaper discusses the role of the southeast in this broader nation carbon capture landscape, particularly focusing on the question “What will be the role of Southeast region in this broader national carbon capture effort in the United States?”
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ItemValuation of US Infrastructure Assets Related to Liquid Hydrocarbons and Transportation: With implications on the decarbonization of mobility and the grid as of Sept 2019(Georgia Institute of Technology, 2021-09) Simmons, Richard A. ; Metz, KeriIn this brief report, we summarize existing asset values and investments for U.S. infrastructure related to liquid hydrocarbon transportation systems. This includes primarily assets in the hydrocarbon fuel supply chain as well as the engines and equipment that consume hydrocarbon fuels. The motivation prompting this effort is generally stated as a desire to better understand near-, medium-, and long-term pathways to decarbonize transportation. As such, this particular effort was a part of a broader scoping effort in which researchers with Georgia Tech’s Strategic Energy Institute sought to compare the economic viability of renewable hydrocarbons as a substitute for petroleum-derived fuels. This includes both biofuels and synthetically produced alternative fuels. Doing so is believed to help facilitate a more direct and holistic comparison of renewable fuels with other forms of sustainable transportation, such as electric vehicles (EVs). In short, the US hydrocarbon (HC) sector, broadly defined, comprises a large investment, upwards of 8.4 trillion dollars, out of a total U.S. infrastructure investment of about $37 trillion . Our HC infrastructure estimate excludes the parts of the transportation system that could be used with other vehicle propulsion systems, such as roads, but includes the petroleum refining industry, as well as publicly and privately owned vehicles in the U.S. fleet that rely on internal combustion engines. So called “upstream” or “supply side assets” are defined to liquid hydrocarbon support infrastructure (e.g., refineries, pipelines, storage assets). These account for about 40% of the total. So called “downstream” or fuel consuming devices are defined to include engines and the broad category of equipment that uses them. This segment account for the remaining 60% of HC sector assets. Separately, initial estimates suggest that the replacement value of the U.S. electric grid is about 4.8 trillion dollars.
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ItemEnergy Infrastructure and Industrial Data: Between Global Data Policies and an Evolving iIoT Environment(Georgia Institute of Technology, 2021) Farhat, Karim ; Mueller, Milton L.This paper identifies the factors shaping Industrial Data (ID) use and sharing among Southeastern energy firms. The research questions underlying this study are: 1. What factors affect an energy firm’s decision to use and share ID 2. To what extent does ID use entail strategic or collaborative sharing arrangements with other firms 3. What are the procedures by which these arrangements take shape? Contrary to other research findings, agglomeration economies and locational advantages based on Information Technology (IT) infrastructure were not drivers of ID development in the Southeast. Data localization and data protection laws were also not found to influence how Original Equipment Manufacturers (OEM) handle transnational data flows. The decision-making procedures by which ID arrangements take shape instead depend on strategic choices around data management and the evolution of the cloud services market. Business model adaptation among OEMs has significant impacts on data management practices. While diversified energy service offerings remain sparse among Investor-Owned Utilities (IOUs), OEMs are experiencing an increased complementarity of demand between goods and services as they start to divest from central power generation. For example, demand for gas turbines or transformers coupled with demand for analytics services to minimize failure and downtimes was indicative of a shift from isolated products to services built around products. In the ongoing convergence environment between IT and legacy Operational Technology (OT), access to data is more relevant than ownership. The ownership of intellectual property in software and algorithms that enable the continued use and reuse of data for various business ends drives firms’ competitive advantages. However, despite the flexibility afforded by the latest opensource developments in data management, such as container platforms, we found no evidence of energy firms sufficiently leveraging these tools. Our analysis of the role of standards in the ID ecosystem’s evolution shows no risk of serious harm due to vendor lock-in, particularly in the smart grid. The path-dependent inertia of IEEE 1815/DNP3, lack of awareness and perceived benefit of IEC 61850, and strategic OEM preferences for DNP3 involve the kinds of switching costs that are to be expected in a competitive market environment. These costs are dependent on the economic and organizational barriers defining the position of the utility in question along its technological migration path (legacy infrastructure, hybrid systems, or fully digital substations). Costs for deployment may progressively shrink as legacy infrastructure continues to be replaced. We recommend that Investor-Owned Utilities better leverage the capabilities that data science has to offer and foster ongoing relationships with large OEMs or third-party energy service providers with proven track-records of providing added business value. As a matter of regional economic policy, methods to facilitate market entry for third-party energy service providers should be explored.
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ItemLeveraging Energy Data for the Benefit of Society and Consumers(Georgia Institute of Technology, 2020-10) Farhat, Karim ; Mueller, Milton L. ; Schaub, Matt ; Simmons, Richard A. ; Murphy, SharonIndustrial data (ID) has the potential to play a key role in finding efficiencies in energy markets and thus lower rates for consumers. The realm of industrial data within the energy sector encompasses a broad ecosystem involving many stakeholders. This policy brief is intended to focus specifically on implications for Investor-Owned Utilities (IOUs), energy service and technology providers including Original Equipment Manufacturers (OEMs), policymakers, and researchers, as well as interactions among them. Within this construct, we find that: • IOUs could better leverage data analytics to utilize capital, natural resources, and public infrastructure more efficiently; • ID could lead to better alignment of incentives between utilities and policy/regulation; • Methods to facilitate market entry for local third-party energy service providers should be explored to benefit the regional economy and to avoid ceding leadership to foreign or out-of-state competition; • More collaboration within the standards space and during the standards deliberation process is warranted (in particular between OEMs and energy providers); • ID and energy stakeholders have an obligation and opportunity to improve regulations for Critical Infrastructure Protection (CIP) with future implications on grid cybersecurity; • Coordination and R&D among utilities, policymakers and research institutions can enhance and accelerate knowledge diffusion and beneficial outcomes for owners, consumers, and the environment.
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ItemAssessment of Grid-Scale Energy Storage Scenarios for the Southeast: Benefits, Costs and Implications(Georgia Institute of Technology, 2020-03) Vejdan, Sadegh ; Grijalva, SantiagoThe objective of this project is to assess the economic benefits and system impacts for grid-scale energy storage in the Southeast region for informed investment decision-making and policy analysis. Energy storage is a dynamic field exhibiting considerable near term growth. Energy storage systems (ESS) can provide a wide range of services and benefits to the sector’s entire value chain and, are therefore becoming an attractive technology among stakeholders. The present study can prove to be of service to utilities, policy- makers, researchers and other stakeholders. Several novel optimization methodologies have been developed that can be used to evaluate the relative economic merits of ESS under a range of scenarios, input conditions, and performance parameters. The methods and approaches can be extended to include additional parameters, such as CO2 costs, CO2 emission, and welfare effects. Finally, the project provides detailed insights into the comparative economic benefits of major ESS use cases from the perspective of residential customers, large commercial customers, and utilities. The results suggest there are significant opportunities and net economic benefits from ESS systems, whether owned and operated by large customers or utilities, or jointly-operated by both. Taken together the methodologies and findings can contribute to informed investment decision-making and policy analysis in the Southeast region, and beyond.
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ItemIndustrial Data and Regional Economic Development Phase 1 Study and Findings(Georgia Institute of Technology, 2018-02) Clark, Jennifer ; Lodato, Thomas James ; Sudharsan, SuprajaThe digitalization of industries is leading to new services and opportunities for firms, regions and economies. The ability to monitor and diagnose equipment conditions and operations in real-time, respond to changes in equipment performance, and share this data across stakeholders and regulators is expected to improve business profitability, innovation, job growth, and regulatory compliance. The goal of this study is to evaluate the nature of these changes as they relate to the production and use of industrial data. Simultaneously, the study identifies and assesses the factors that influence regional economic development.