Sunday, January 23, 2022

Climate disasters threaten US grids, risking billions in losses

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Credit: CC0 Public Domain

The U.S. utilities sector may endure annual losses of as much as $4.1 billion as local weather hazards threaten to batter the business’s infrastructure, in accordance with a brand new report.

Roughly one in 5 world energy strains are closely uncovered to rising sea ranges, hurricanes, wildfires and storms, in accordance with BloombergNEF information printed Wednesday. In the U.S. alone, 700,000 kilometers (435,000 miles) of are weak to bodily local weather hazards—simply shy of the space to the moon and again.

Rating companies have downgraded a minimum of 9 because of bodily local weather dangers over the previous three years. One agency, PG&E Corp., was pressured into chapter 11 due to escalating wildfire dangers. California investigators mentioned this week {that a} owned by the corporate began the second-largest wildfire in the state’s historical past.

Climate hazards have been chargeable for greater than $2 trillion in world financial losses over the previous twenty years, with the bearing the brunt, in accordance with BNEF. The largest storms have induced greater than $20 billion in injury to the U.S. grid over the previous 5 years and adaptation may price a couple of million {dollars} per mile.

Hurricane Ida, which pummeled a lot of the japanese U.S. with lashing rain and floods in August, killed a minimum of 95 folks and value the economic system $65 billion. It additionally took down 207 in Louisiana, totaling $2 billion of injury.

“Hurricanes have caused billions of dollars in damage to the U.S. power grid in the past decade,” mentioned Kathy Gao, a know-how analyst at BNEF who wrote the report. “Building a more decentralized grid, such as micro-grids and behind-the-meter resources, could increase resiliency.”

Microgrids and photo voltaic cut back danger of energy outages

©2022 Bloomberg L.P.
Distributed by Tribune Content Agency, LLC.

Climate disasters threaten US grids, risking billions in losses (2022, January 6)
retrieved 6 January 2022

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