The Electrification of Everything

If we're going to rely much more on electricity, we need to know the grid isn't going to break down. With electricity, strategic reserves can be built in two ways: holding surplus power-generation capacity on standby, or expanding some form of electricity storage such as batteries, pumped water or air, or hydrogen. As the electrification of everything takes form, more consumers-aware of the increasing downside of losing power-will want a higher degree of control over their own electricity supply. U.S. electricity pricing and regulation remains outdated, based on a time when monopolistic, centralized power stations directed electricity to flow from their generators to the end user. Princeton University estimates the country will need between double and triple today's electricity transmission capacity to accommodate the Biden administration's goal of achieving net zero greenhouse-gas emissions by 2050. Theoretically, of course, the electrification of everything is fuel-neutral-that is, the electricity itself could be generated using the same fossil fuels currently piped directly to us. For one thing, environmentalists are focused on electrification as the fastest way to decarbonize the U.S. energy system, in particular with electric cars and converting home heating to electricity.