Deloitte’s Power, Utilities, and Renewables Solutions
Optimize and modernize existing power, utilities, and renewables infrastructure using advanced technology.
Deloitte solutions help power, utility, and renewables service providers increase operational efficiency while ensuring the safety, reliability, and efficiency of their infrastructure.
Using digital tools and technology to anticipate and manage industry challenges
Deloitte helps providers across the power, utilities, and renewables spectrum anticipate and respond to complex challenges by offering a range of industry-specific services and solutions.
Emerging factors to watch in the power and utilities industry
These are the four areas of emerging technology growth and legislative focus that will likely influence the direction of the industry.
Promising industry trends
The power, utilities, and renewables sector shows promising trends amid rising cost and climate concerns.
The 47 largest US electric and gas utilities plan to spend a record-breaking $169.4 billion in 2023 to enhance reliability, security, and renewable integration.1
US renewable generation and capacity rose, accounting for over 23% of electricity generated from January through August 2022, up from about 21% in 2021.1
The National Renewable Energy Laboratory’s (NREL) Electrification Futures Study modeled US electricity demand using three scenarios. These models predicted compound annual growth rates of 0.4% to 1.3% in three different scenarios from 2023 to 2030.2
Increased need to address vegetation management
As climate change impacts increase, so too does the need to address vegetation and plant growth around utility infrastructures to help mitigate risk.
Plant growth in specific areas around field assets is the single largest cause of service outages in the US, per the Federal Energy Regulatory Commission (FERC).1
Estimated annual spend on vegetation management by utilities in the US according to Leidos’ Commercial Energy.2
Annual budget for vegetation management of business units of California utilities alone.1
Regulatory fine per violation, per FERC standard FAC-003, for failure to address vegetation encroachment requirements.1
