IstheGridReadyforOurElectricFuture?Electricity:APowerfulTooltoCleanseSectorsofEmissions06NecessityBecomestheMotherofGridModernization13ThePowerParadox:IncreasingElectricityDemandandItsChallenges09ExecutiveSummary01TheGridIsWarningUs03ContentsOurchangingclimatedemandsboldaction,includingadramaticoverhaulofourenergyindustryandatransformationoftheelectricgridthatpowerstheUnitedStates,whichisdirectlyresponsibleforaquarterofU.S.greenhouse-gasemissions.1Butclimatechangealoneisn’ttheonlyreasonweneedtoreassessthegrid.Ourmodernworldincreasinglyrunsonelectrons,fromtheelectricvehicleszoomingdownroadwaystotheheatpumpsmakingofficesandhomescomfortableinsummerandwinter.Moreandmore,generatorssourcethatpowerfromthesun,windandotherrenewables.Meanwhile,individualhomeownersandbusinessesdeploymicropowergeneratorslikesolarphotovoltaicsontheirpropertythatconnecttothegridallalongthedistributionsystem.Sometimestheseuserspullelectricityfromthegrid,andothertimes,theypushiton.Allofthismakesforasignificantlymorecomplexpowersystem.ExecutiveSummary0102“Climatechangeishappeningnow,andaddressingitrequiresanupgradeofourenergysystemsawayfromfossilfuels,"explainsJ.J.(JeongJoon)Yu,SKGroupViceChairmanandChiefExecutiveOfficerofPassKey."Itisclearthatacleaner,smarter,moreefficientenergygridisgoodforpeopleandforourplanet.That'swhywemustprogresstowardourall-electricfuturethroughinnovationsthatwillhelpmeettheworld’sdemandforcleanandreliablepower,”headds.SKanditsoperatingcompanieshavesetoutaboldplanthatcommitsustoadvancethecommunitieswherewedobusinessbycreatingbotheconomicandsocialvalue.2Tomeetthisambition,weareinvestingincleantech,lifesciences,semiconductorandgreencompaniesacrosstheU.S.Ourinvestmentswilltotalmorethan$50billionbytheendof2025,increasingthenumberofU.S.employeesfrom4,000in2021tomorethan20,000by2025.3TheGridisWarningusTherewasnothingoutoftheordinaryinOdessa,Texas,onMay9,2021.Itwasaseasonable75degreesFahrenheit.Itwasn'training,andthewindwasn'tblowingespeciallyhard.Butanyonewhohasspenttimearoundapowerplantknowsthatissuescanoccurevenonagooddaywhenthesunisshining.At11:21am,afaultypieceofequipmenttrippedacircuitbreakeratanaturalgas-fueledplantoutsidetown.4Generatorsarepreparedforsuchevents,andthesystemreducedpoweroutputbyonly192megawattsbeforeitrecoveredwithinfractionsofasecond.03Butthensomethingelsehappenedthatnobodyexpectedfromsucharun-of-the-millfault.Solarphotovoltaicandwindgeneratorsconnectedtothegridupto200milesawayfromtheinitialfaultstartedreducingtheirpoweroutput.Attheheightofthedisruption,therenewablesourcesreducedthepowertheywerefeedingthegridbymorethan1gigawatt,enoughelectricitytopowerhundredsofthousandsofhomes.Intheend,thesystemquicklyresolvedthedisturbance,buttheunexpectedeventraisedenoughalarmstotriggerinvestigationsbyTexaspowerauthoritiesandtheindustry’soversightbody,theNorthAmericanElectricReliabilityCorporation(NERC).Officialswereconcernedwiththeso-called"OdessaDisturbance"becauseitwasjustoneofmultiplecascadingrenewablepowergenerationreductioneventsthey'verecordedinrecentyearsasalternativesourcesofelectricityhavepluggedintothegrid.Theirfear?ThecurrentU.S.electricalsystemisunpreparedtobringlargeamountsofrenewableelectricitygenerationonlineandprovidetheelectricityneededforafuturewheremoreofourmachinesgettheirpowerfromrenewablesthanfossilfuels.04Warningsignsabouttheinsufficiencyofthegridnowseemtocropupregularly.Moreglaringalarmsoccurredinthesummerof2022whenelectricityimbalancespeakedinseveralWesternstates.InSeptember,California'sindependentsystemoperatorrecordedaspotprice—whatitcostatthemomenttobuyelectricityforimmediatedelivery—thatbrieflyrosefromanaverageofbelow$100permegawatt­hourtoanunsustainable$2,000permegawatt-hour.AndinJuly,Texas'smarketsawpriceskyrockettoanincredible$5,000permegawatt-hour.Themoveawayfromfossilfuelsinfavorofzero-emissionrenewables,includingwindandsolarpower,iscriticallyneeded.Withouttheseclean-energyresourcesoperatingatscale,curbingemissionsatlevelsrequiredtomeetglobalclimatetargetsbecomesnearlyimpossible.Intheshortterm,though,thetransitionwillcreatechallenges.That'swhyweneedpractical,near-termsolutionsalongsidethelong-termgridinnovationandinfrastructurebuildoutthatisalreadyunderwaytoboostthecapacityandresilienceofthecountry'selectricalsystem.0501Renewables&EVadoption:twogrowingtrendschallengingtheU.S.powergrid.Asrenewablesgrow,electricvehicleadoptionisforecastedtohavea60%shareofallglobalnewcarsalesby2030.Renewableenergystandsasacontendertobethe“primarysourcefornewelectricitygeneration”5by2050accordingtotheU.S.EnergyInformationAdministration.Solar&WindgrowthEVadoptionrateProjectedamountofgigawattcapacitycomingfromwindenergyby2050.6404.25Gigawattcapacityby2050SolarenergyrepresentsAmerica’sfastest-growingpowersource,accountingformorethan40%ofallnewelectricitygeneratingcapacity.U.S.SOLARCAPACITYISPROJECTEDTOQUADRUPLEOVERTHENEXTTENYEARS8Inlessthanadecade,theInternationalEnergyAgencyprojectselectricvehiclescouldaccountfor60%ofallnewcarsales.7300MillioneSTIMATEDEVFLEETSIZEBY2030Electricity:APowerfulTooltoCleanseSectorsofEmissionsScientistswarnthatclimatechange'simpactsarehappeningfasterthaninitiallythoughtandthewindowtokeepglobalwarmingbelow1.5degreesCelsius,thelimitabovewhichconsequenceswilllikelybemuchmoresevere,hasallbutclosed.9Manycommunitiesmaysoonlosetheabilitytoadaptifcountriesandcompaniesrefusetoactinearnest.IntheU.S.,anyseriousefforttostemgreenhousegas(GHG)emissionsmustfocusontransportation,electricitygenerationandpoweringandheatingbuildings,whichaccountfor65%ofallGHGs.10Buttherearemoreandmorereasonstohopethatthecountryisgettingseriousaboutmovingbeyondfossilfuelsandaddressingclimatechange.Increasingrenewablepowergeneration,adoptionofelectricity-poweredbuildingsystemsandgrowingsalesofelectricvehicles(EV)suggestthatapivotawayfromfossilfuelsiswithinreach.0607Onthepowersupplyside,theU.S.EnergyInformationAdministration(EIA)projectsthatrenewableswillgeneratemorethan44%ofU.S.electricityby2050.11Around57%ofthecountry'stotalcapacityaddition(approximately1,000gigawatts)willcomefromrenewablesbetweennowandthen.Asjustoneexampleofthebroadertrend,in2022and2023alone,powerprojectdevelopersandoperatorstoldtheagencytheyplannedtoadd51gigawattsofsolarpowerandbatterystorageprojectstotheU.S.grid12.AndtheEIAreportsthatit'snowconsiderablycheapertobuildandoperatesolarphotovoltaicplantsthananyothersource,withonshorewindandnaturalgascompetingforsecondplace.13Meanwhile,95gigawattsofcoal-basedelectricitycapacityhavebeenretiredsince2011,andthattrendwillcontinue.14Butthoseprojectionsaren'tenoughtokeepglobaltemperatureriseatorbelow1.5degreesCelsius.InitsmostrecentWorldEnergyOutlook,theInternationalEnergyAgencysaysrenewables'shareofglobalelectricityproductionwillneedtojumpfrom28%in2020to61%in2030and84%by2040.15Closertohome,meanwhile,itwilltakeconsiderablymoreworktoachievetheU.S.government'sstatedgoalofdecarbonizingthegridby2035.AccordingtotheU.S.DepartmentofEnergy'sSolarFuturesStudy,therewillneedtobeupto1,000gigawattsofsolaralonedeployedbythen,whichwouldproduceupto40%ofelectricitydemand.Butin2020,amere76gigawattsofelectricitycamefromsolarprojects.16TheDoEstudyassumestherestofthedecarbonizedsupplywillcomefromwind,nuclear,hydroelectric,biopowerandgeothermalelectricityproduction.Ontheelectricitydemandside,automakersarerampingupproductiontomeettheunexpectedlyhighconsumerdesireforEVs,atrendatleastpartiallytriggeredbyvolatileandcostlygasolineprices.Arecentforecastprojectedthatnumberwillreach26.4millionin2030.17Ifachieved,theEVfleetwillrepresent10%ofallcarsandlighttrucksinservicein2030.Further,EVswillaccountfor32%ofallcarandlighttrucksalesannuallywhenthenextdecadebegins.Meanwhile,commercialandresidentialbuildings–anothermajorGHGsource–arerapidlyswitchingfromnaturalpropane-andoil-firedfurnaces,boilers,cookingrangesandwaterheaterstohigh-efficiencyelectricinnovationslikeair-sourceheatpumps,inductioncooktopsandheat-pumphotwatersystems.AMcKinseyanalysisfoundthatelectricheatpumpscouldcomprisearound90%ofnewheatingunitsalesby2050,comparedwith35percentin2022.18Theresultcouldbeacutof3gigatonsofcarbondioxideemissions.Atthatpoint,electricapplianceswouldprovide61%ofspaceheating,52%ofwaterheatingand94%ofcookingservicesinthebuildingssector.1908ThePowerParadox:IncreasingElectricityDemandandItsChallenges09Withtheincreasingadoptionofelectricallypoweredmachinesthatreplacethosethatoperateonfossilfuelcombustionandasteadilygrowingshareofrenewablepowergeneration,marketforcesnowguaranteethatthecountryhasbegunanirreversibleandessentialshiftinhowelectricityisproducedandconsumed.Andrecentfederallegislationmeanttoincentivizeinfrastructure,renewableenergyandenergy-efficiencyimprovementprojectsfromtheindividualconsumeruptobigindustrialplayerswillputwindinthesailsoftheelectrificationrevolutionalreadyunderway.TheresultwilltriggerawholesaletransformationofU.S.energyinfrastructureandthebroadereconomythatreliesonit.Butthere’sanimportantconsiderationtotakeintoaccountwiththesignificantimprovementsinGHGemissions,airqualityandenergysecuritythatelectrificationwillafford.Allthoseefficientelectricmachinescomingonlineinthetransportationandbuildingssectorswillneedmorepowerthaniscurrentlyavailablethroughthegrid.Electricity’sshareofallenergyconsumptionwillneedtodouble–upfrom20to40%–by2050,andwidespreadelectrificationwillincreasetotalU.S.electricityconsumptionbyasmuchas38%by2050.20,21Thepowergenerationindustryrequiressignificantupgradesandexpansiontomeetthecountry’smovementtomasselectrification."ThecurrentU.S.powergrid,similartootheradvancedcountries,wasbuiltalongtimeagoundertheassumptionthatdemandwouldbepredictableandsupplywouldcomefromcentralized,dispatchablefossilfuelgenerators,"saysDoctorKyungyeolSong,Ph.D.,ChiefOperatingOfficerofPassKey."Ifdemandwaspredictedtoincrease,youhadacoalorgasplantthatcouldproducemoreelectricity.Butnow,youcan'tjuststartmakingmoreelectricityfromasolarfarmifthesunisn'tout."That'sjustoneissuefromthesupplyside'sincreasingshareofrenewablyproducedelectricity.Thedemandsidebringsawholeportfolioofchallengesthatthreatentothrowoffthebalancebetweensupplyanddemand.Asoneexampleofdemand-sidegrowth,EVchargingwillincreaseeachhousehold'speakelectricitydemandbyupto270%.Initscurrentstate,thegrid,whichisalreadyoutdatedandsaturatedinmanyU.S.cities,willbeunabletomeetsuchaspikeindemand.Withoutgridinnovationandmodernization,catastrophicfailurescouldplungelargeareasofmanykeystatesintheU.S.intoblackouts.GridinstabilityisnotadistantthreattheU.S.mightfaceatsomeunknownpointinthefuture;NERC'smostrecentsummerreliabilityassessmentwarnedthatmorethantwo-thirdsoftheU.S.wasunderblackoutriskduetogridproblems.IftheAmericangridisalreadystressed,thesituationwillbecomemoresevereinafuturewheremoreclimatechange-inducedheatwavesanddroughtscombinewithmoremachinesneedingelectricityfromclean,decarbonized-butintermittent-powersourceslikesolarandwind.Withoutmeaningful,focusedaction,rollingblackoutscouldleavehospitals,homesandbusinesseswithoutpowerandEVsstrandedwhenelectronsstopflowing.10"It'sobviousfromtherecenteventsandpricespikesinCaliforniaandTexasthattheU.S.isalreadysufferingfromapower-gridcrisis,"saysDr.Song."Withoutconsideringafundamentalsolutiontoimprovegridstability,thecurrentandvitalpushforrenewableenergyandelectricvehiclescouldexacerbatethesestrainsfurther,especiallyastheeffectsofclimatechangecreatemorefrequentanddevastatingnaturaldisasters."Somechallengesfacingthegridtodaywillgrowmoreacutewithoutupgradingthegridsothatitincludesthefollowingsolutions22tgUrgentneedtodeploypowerstorageatscale.Renewablesareverydifferentfromfossil-poweredgeneration.Thesunisn'talwaysshining,andthewindisn'tconstantlyblowing.Alternativesourceslikesolarphotovoltaicsaredeployednotjustaslarge,centralizedplantsliketheoldgridmodeldictatedbutarealsodistributedinparkinglotsandresidentialrooftops.Theymayfeedtheirvariablecapacityintothegridanywherealongtheline,fromtransmissiontoendusers.Andsometimes,buildingswiththeseinstallationspullpowerfromthegrid,whileothertimes,theyputpowerintoit.Thistwo-way,distributedpowergenerationandconsumptioncreateasignificantlymorecomplexoperatingenvironment.Inordertoaccommodatemorerenewablesonthegridandtoavoidpowerinstability,moregrid-scalepowerstorageshouldbedeployedandreachscaleassoonaspossible.1112gBatterymaterialsbottleneck.ArecentMcKinseyreportseeseighttimesasmuchdemandforlithium,themetalatthecoreofmodernEVandgridbatteries,by2030.23EVbatterydemandwilldrivethemarketandmakecompetitionforthecriticalmaterialfierceforgrid-scalebatterymakers.Sincebetteralternativestolithium-ionenergystoragearestillintheR&Dstage,large,acceleratedsupply-chaininvestmentinacquiringlithiummuststartnowtomeettheneedforbatteries,includingutility-scaleenergystoragesolutions.agModernizinganaginggrid.Somecomponentsofthenationalgridareover100yearsold,farpastthe50-yearlifespanofmostequipmentthatcomprisesit.24AnenergyinfrastructuresurveybytheU.S.DepartmentofEnergyfoundthat70%ofpowertransformersare25yearsorolder,60%ofcircuitbreakersare30yearsorolder,and70%oftransmissionlinesare25yearsorolder.25Thisoldequipmentcanleadtoproblemsinitsownright,butwhenmoreintenseclimatechange-inducedhurricanes,wildfiresandotherdisastersappear,it’sarecipeforoutages.Onerecentinvestigationfoundthatthenumberofpoweroutageshasdoubledinthepastsixyearscomparedtotheprevioussix.26Masselectrificationwilldemandahighercapacityandmorereliableelectricitysupplytokeepthegridoperating.Thecurrentsystemneedstomodernizetoavoiddisturbanceslikewhattheindustrysawinlastyear'sOdessa,Texas,eventfrombecomingcatastrophicfailures.13NecessityBecomestheMotherofGridModernizationSKE&S'sDr.Songsayscompaniesandgovernmentsaroundtheworldareadoptingnet-zerogoalsatanincrediblepace.ThatispreciselywhyhiscompanyisofferingPassKey,apotentinnovationtomaketomorrow'sgridmorenimbleandreliablewhileproducingfeweremissionsthroughrenewables.PassKeyisuniqueinconnectingEnergyStorageSystems(ESS)thatcanstorerenewable­generatedpowerwithartificialintelligence(Al).TheAlalgorithmspredictsupplyanddemandandoptimizepoweracrossthegridtointelligentlyshuttleelectricitywhereit'sneededwhenit'sneeded."Thetargettoreachnet-zeroemissionsby2050ismissionimpossiblewithoutenergystorageandartificialintelligence,"Dr.Songexplains."Forcustomers,achievingnetzerousuallycausesinconvenienceandincreasedcosts.OurmissionatPassKeyistoachievebothtargetssimultaneously­acceleratingthepushtonetzeroandprovidingconvenient,affordableelectricitytocustomers.Manypeoplethinkthatthesetwogoalsconflictwitheachother,butwebelievePassKey'sbusinessmodelsandtechnologiescanachieveboth."14BecauseSKE&Sseesenergystorageasanessentialblockinthefoundationoftomorrow’sgrid,thecompanyhasmadesignificantinvestmentsinthetechnologythroughoutU.S.markets,includingtakingmajorityownershipofKeyCaptureEnergyin2021.27TheNewYork-basedcompanybuildsandoperatesstandaloneenergystorageprojects,nowboastingmorethan5+gigawattsofcapacityindevelopment,constructionorinoperations.ItsleadersaimtohavemorethanonegigawattofbatterystorageoperatingacrosstheU.S.by2024.”PassKey’snovelsolutiontomodernizingthegridcircumventssomeoftheexpensivecostsandlaborofupgradingtransmissionlines.Thesystem’ssoftwareensuresthatever-growingloadsofsolarandwindpowerarereliablyandefficientlydistributedtoconsumersusingexistinggridinfrastructure.AnddecreasingtheinvestmentinthephysicalpartsofthegridmeansthatPassKeyisamuchmorequicklydeployablesolutionthanhavingtogointothefieldtobuildnewtransmissionanddistributionlines."Ourultimatesolutionshouldbetoupgradetheentiregrid,butinreality,thatisgoingtotakeaverylongtimetoaccomplishacrossthecountry.So,whatshouldwedoasapracticalalternative?Ourpowersolutioncanquicklyrampupandmeetthisgapbyminimizinggridupgradesandprovideaffordableandconvenientelectricityservicestoendcustomers."-KyungyeolSong,Ph.D.,COOofPassKey.KeepingupwithEVevolutioninthenot-too-distantfuture.TheU.S.gridreliesmoreandmoreonelectronsemittedbyintermittentresourceslikesolarandwindpowerwhichposesachallengeinthenearfuturenowthatelectricvehicleadoptionispeaking.Toimprovegridreliability,PassKeyoffersasolutionthatcombinestheuseofEnergyStorageSystems(ESS)poweredwiththelatesttechnologyinAItopredictthebesttimestooffloadandstorepowerfromrenewables,ensuringEVfleetscanrechargetheirbatterieswithoutoverstressingthegrid.Thecurrentcontextsolutionspoweredbytechnology15Appliedtoelectricvehicles,PassKey'ssmartchargingsolutioncouldallowlargeEVfleetstochargetheirbatterieswithcleanpoweratthelowestpossibleprices,withoutoverstressingthegridevenduringpeakhours.SomuchsothatEverCharge,anEVchargingcompanyPassKeyacquiredlastyear,recentlypartneredwithcarrentalcompanyAvisBudgetGrouptodeployEVchargingstationsattheGeorgeBushIntercontinentalAirportinHouston.EverCharge’suniqueAI-poweredstationscananalyzethechargingpatternsofEVstointelligentlyallocateavailablepowerbasedontheindividualvehicle’sneed.FollowingthelaunchattheHoustonairport,AvisBudgetGroupandEverChargeplantoextendtheirpartnershiptoadditionalU.S.airportsthisyear.Thesecondisbatterytechnologydevelopment.Currentlithium-ionbatteriescanusuallyonlydischargereliablyforfourhourswithafullcharge.Developinglonger­durationbatteriesthatcanlastforeighthoursorevenadaybeforerechargingwouldsignificantlyimprovetheutilityofrenewablysourcedpower.BesidesPassKeyandlonger-terminfrastructureupgradestopowerlinesandequipment,Dr.Songsaystherearetwoothercriticalcomponentsinwhichtoinvest.Thefirstoftheseismicrogrids,theinterconnected,distributedelectricalnetworksofloadsandclean,decarbonizedpowergeneratorsthatcanactindependentlyfromthebroadergridandboostreliabilityandresilienceagainstwiderdisturbances.280116TheU.S.gridisanextremelycomplexsystem.Modernizingandpreparingittosupplysignificantlymoreelectricitydemandsamulti-prongedapproach.Wemustcombinetheresearch,developmentanddeploymentoftechnologieslikePassKey'spowersolution."AddingmoreandmorerenewablesandEVswithoutmodernizingthegridthroughbetterdesign,energystorageandAlcouldunderminetheimportantshifttoanemissions-freeelectricgrid,"Dr.Songsays."Itwillmakedemand­supplybalancingmuchmorechallengingandexacerbateexistinggridinstability."SuchascenariocanbeavoidedwithinnovationsliketheonedevelopedbyPassKey.Workinginconcert,thatandothergridinnovationswillputtheU.S.andtheworldontheroadtoabetterall-electricfuture.Thiswillsuperchargethedeploymentofagreeneconomy,helpcitizensattainahigherqualityoflifeand,throughelectrification,takeasignificantsteptowardaddressingclimatechange.It'samajoreffort,andSKandSKE&Sarecommittedtomeetingthisbetterfuturebydevelopingsolutionsthatmakeouraspirationsforastrongertomorrowareality.17Endnotes1“SourcesofGreenhouseGasEmissionsUSEPA.”2022.EnvironmentalProtectionAgency.https://www.sk-inc.com/pdf/ENG_SK-Inc_SR_2022_Interactive_Final.pdf2“ESGManagementReport.”ESGManagementSocialValue(ESG)SKInc.AccessedNovember1,2022.https://www.sk-inc.com/en/sv/sustainabilityReport.aspx.3“SKInvestinginU.S.Industries(2021).”2022.https://eng.sk.com/posts/sk-investing-in-u-s-industries-2022.4“OdessaDisturbance-TexasEvents.”2021.NERC.https://www.nerc.com/pa/rrm/ea/Documents/Odessa_Disturbance_Report.pdf.5“EIAprojectsincreasesinglobalenergyconsumptionandemissionsthrough2050.”2021.U.S.EnergyInformationAdministration.https://www.eia.gov/pressroom/releases/press487.php.6“Map:ProjectedGrowthoftheWindIndustryFromNowUntil2050.”n.d.DepartmentofEnergy.AccessedNovember9,2022.https://www.energy.gov/maps/map-projected-growth-wind-industry-now-until-2050.7Paoli,Leonardo.2022.“ElectricVehicles.”InternationalEnergyAgency.https://www.iea.org/reports/electric-vehicles.8Groom,Nichola,andRichardPullin.2021.“U.S.solarindustrypredictsinstallationswillquadrupleby2030.”Reuters.https://www.reuters.com/article/us-usa-solar/u-s-solar-industry-predicts-installations-will-quadruple-by-2030-idUSKBN2B80AX.9“Climatechangeishittingtheplanetfasterthanscientistsoriginallythought.”2022.Nature.https://www.nature.com/articles/d41586-022-00585-7.10“SourcesofGreenhouseGasEmissions.”2022.EnvironmentalProtectionAgency.https://www.epa.gov/ghgemissions/sources-greenhouse-gas-emissions.11“EIAprojectsthatrenewablegenerationwillsupply44%ofU.S.electricityby2050.”2022.U.S.EnergyInformationAdministration.AccessedNovember1,2022.https://www.eia.gov/todayinenergy/detail.cfm?id=51698.12“Solarpowerandbatteriesaccountfor60%ofplannednewUSelectricgenerationcapacity•U.S.EnergyInformationAdministration.”2022.U.S.EnergyInformationAdministration-EIA-IndependentStatisticsandAnalysis.https://www.eia.gov/todayinenergy/detail.cfm?id=51518.13“LevelizedCostsofNewGenerationResourcesintheAnnualEnergyOutlook2022.”2022.EIA.https://www.eia.gov/outlooks/aeo/pdf/electricity_generation.pdf.14“AsU.S.coal-firedcapacityandutilizationdecline,operatorsconsiderseasonaloperation.”2020.U.S.EnergyInformationAdministration.https://www.eia.gov/todayinenergy/detail.php?id=44976.15“WorldEnergyOutlook.”2022.InternationalEnergyAgency.https://iea.blob.core.windows.net/assets/830fe099-5530-48f2-a7c1-11f35d510983/WorldEnergyOutlook2022.pdf.16“SolarFuturesStudy.”n.d.DepartmentofEnergy.AccessedNovember1,2022.https://www.energy.gov/eere/solar/solar-futures-study.17“EEIProjects26MillionElectricVehiclesWillBeonUSRoadsin2030.”2022.EdisonElectricInstitute.https://www.eei.org/News/news/All/eei-projects-26-million-electric-vehicles-will-be-on-us-roads-in-2030.18“Buildingdecarbonizationwithelectricheatpumps.”2022.McKinsey.https://www.mckinsey.com/industries/electric-power-and-natural-gas/our-insights/building-decarbonization-how-electric-heat-pumps-could-help-reduce-emissions-today-and-going-forward.19“TheElectrificationFuturesStudy:Demand-SideScenarios.”2018.NationalRenewableEnergyLab.https://www.nrel.gov/docs/fy18osti/72096.pdf.20“GlobalEnergyPerspective2022.”2022.McKinsey.https://www.mckinsey.com/industries/oil-and-gas/our-insights/global-energy-perspective-2022.21“TheElectrificationFuturesStudy:Demand-SideScenarios.”2018.NationalRenewableEnergyLab.https://www.nrel.gov/docs/fy18osti/72096.pdf.18Endnotes22Bose,Anjan.2019.“GridModernization:OpportunitiesandObstacles.”T&DWorld.https://www.tdworld.com/grid-innovations/article/20972284/grid-modernization-opportunities-and-obstacles.23Azevedo,Marcelo,MagdalenaBaczyńska,KenHoffman,andAleksandraKrauze.2022.“HowlithiumminingisfuelingtheEVrevolution.”McKinsey.https://www.mckinsey.com/industries/metals-and-mining/our-insights/lithium-mining-how-new-production-technologies-could-fuel-the-global-ev-revolution.24“EnergyInfrastructureASCE's2021InfrastructureReportCard.”2021.InfrastructureReportCard.https://infrastructurereportcard.org/cat-item/energy-infrastructure/.25“MajorutilitiescontinuetoincreasespendingonU.S.electricdistributionsystems.”2018.U.S.EnergyInformationAdministration.https://www.eia.gov/todayinenergy/detail.php?id=36675.26Mclaughlin,Tim.2022.“CreakyU.S.powergridthreatensprogressonrenewables,EVs.”Reuters.https://www.reuters.com/investigates/special-report/usa-renewables-electric-grid/.27“KeyCaptureEnergyAnnouncesSKE&SasNewMajorityOwner.”2021.KeyCaptureEnergy.https://www.keycaptureenergy.com/key-capture-energy-announces-sk-es-as-new-majority-owner/.28“MicrogridsGridModernization.”n.d.NationalRenewableEnergyLab.AccessedNovember1,2022.https://www.nrel.gov/grid/microgrids.html.