An Era of Many Options: Future Energy Planning Must Take into Account Unprecedented Numbers of Options

GLOBALLY, POWER SECTORS HAVE ENTERED AN ERA of unprecedented optionality that transcends supply, transport, and demand. Renewables are increasingly penetrating power systems; greater efficiency in lighting has been achieved; manufacturing capability for energy storage technologies is expanding, smart grid technologies have evolved, and emissions technology has advanced; energy efficiency and demand response adoption rates are rising; and distributed resources are increasingly competing with central station supply even as central station technologies have themselves become more efficient and diverse. Today, the savvy prosumer has a choice between utility supply and self-supply or can opt for a combination of both. Just as important, innovative supply, transport, and demand options have led to an emerging array of complementary policy and regulatory approaches.