Gauging Risk in Power Generation Planning
Electric power companies plan to invest in new generating facilities but face economic risks. These firms need to ensure that their facility is economically feasible but also they comply with future energy policies. MIT researchers recommend that utilities plan to have at least 20% of new generation coming from renewable sources, such as solar and wind. Taking such steps can save companies as much as $100 billion in the future. What are the challenges in planning energy upgrades? How might the MIT work help utilities in that regard?
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