Itron Report Reveals Heightened Need for Resilient and Reliable Grid in the Face of Climate Disruption

Rhea-AI Summary

Itron, Inc. (NASDAQ: ITRI) released its 2021 Resourcefulness Insight Report, highlighting the critical need for modernizing energy infrastructure to enhance grid resilience amid climate disruption. Key findings from 500 utility executives and consumers across five countries indicate that integrating renewables and upgrading aging infrastructure are top concerns. While 88% of utility executives fear natural disasters affecting the grid, consumers express greater worry about immediate challenges. The report also notes the pandemic's impact on technology investments, emphasizing the urgency for government infrastructure bills.

Positive

• Report emphasizes critical need for infrastructure modernization to enhance grid resilience.
• High priority technologies identified include advanced metering and distribution automation.
• Significant alignment found between utility executives' and consumers' concerns on grid challenges.

Negative

• COVID-19 pandemic delays technology investments critical for resilient infrastructure.
• Disparity in confidence levels: 84% of utilities believe they are prepared vs. only 47% of consumers.

1 in 4 Utility Executives Say Pandemic is Delaying Upgrades Yet Natural Disasters, Renewables and Electric Vehicles Demand Modern Infrastructure

LIBERTY LAKE, Wash.--(BUSINESS WIRE)-- Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, released its 2021 Resourcefulness Insight Report detailing why modernizing energy infrastructure is the path to achieving a resilient and reliable grid that successfully mitigates the impacts of climate disruption, minimizes interruptions from natural disasters, integrates renewables and prepares for the increased adoption of electric vehicles (EVs). Preparing for the Unexpected and the Inevitable: An Itron Resourcefulness Report summarizes key findings from surveys of 500 utility executives and 500 informed consumers from across five countries – United States, Australia, France, Germany and Indonesia – on the key challenges, barriers and concerns facing utilities in the next five years.

Launched today at Itron Inspire 2021, the company’s premier customer-focused event, the report dives deep into the differing opinions of consumers and utility executives related to resilience planning for an innovative, reliable grid. Across the surveyed countries, integrating renewables and modernizing aging grid infrastructure are the top two biggest challenges. The findings indicate that in the next five years utility execs surveyed see EV demands becoming the biggest challenge for the grid. Additional key findings in the report show:

• Consumers agree with the top priorities of integrating renewables and upgrading infrastructures. However, they are more concerned about natural disasters (20%) than EVs (16%).
• Utility executives are extremely/very concerned about the grid and the impact of disasters (88%), demand from EVs (85%), integrating renewables (86%) and complying with environmental mandates (90%).
• Consumers are less concerned than utility executives about the impact of disasters and EVs on the grid, however they are also less confident in how prepared utilities are to manage these situations with 84% of utilities stating they are ready vs. 47% of consumers.

“In looking at these results, there is agreement on the need for grid modernization, but utility executives and consumers have different concerns and priorities. We see that utilities are looking to the future to plan and prepare for what is coming, while consumers indicated more immediate concerns,” said Marina Donovan, vice president of global marketing and public affairs. “Consumers remain concerned about how climate disruption – and the resulting rise in natural disasters – are impacting their lives, yet they are less aware or even unaware of the impact of EVs and renewables on the grid.”

Across all five countries, the biggest challenges to the reliability and resiliency of the grid are upgrading aging infrastructure, integrating renewables and complying with carbon mandates, but these priorities change as executives look to the future:

	Today	In Five Years
US	Upgrading grid	Upgrading grid
Australia	Upgrading grid	Meeting EV demand & upgrading grid
France	Integrating renewables	Meeting EV demand
Germany	Complying with carbon mandates	Meeting EV demand
Indonesia	Integrating renewables	Integrating renewables

According to the survey, the COVID-19 pandemic has delayed technology investments across all the countries. Yet, the technology is critical to create a more resilient infrastructure. The report notes that advanced metering infrastructure and distribution automation are high priorities for EVs, distributed energy resources (DER) deployments, and disaster response. And sensors are the highest priority technology for grid resiliency in the face of disasters.

“In America, the U.S. Senate passed a $1.2 trillion bipartisan infrastructure bill, which is currently being debated in the House of Representatives, that will be critical to driving grid modernization. Replacing aging electrical infrastructure is paramount to making the grid more resilient and reliable in the face of extreme weather conditions and climate disruption. This federal investment is needed to protect and prepare for disasters as well as sustainable growth,” added Donovan.

To download a full copy of the Itron Resourcefulness Insight Report, visit www.itron.com/resourceful. To listen to key sessions and keynotes at the virtual Itron Inspire Event, Oct. 4-6, please visit www.itron.com/inspire.

About Itron

Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.

Itron^® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners, and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211004005176/en/

Itron, Inc.

Alison Mallahan

Senior Manager, Corporate Communications

509-891-3802

PR@Itron.com

Source: Itron, Inc.

FAQ

What does Itron's 2021 Resourcefulness Insight Report reveal about utility concerns?

The report underscores that integrating renewables and upgrading aging infrastructure are the primary challenges faced by utilities globally.

How is the COVID-19 pandemic affecting investment in energy technology according to Itron?

The pandemic has delayed crucial technology investments needed for creating a more resilient energy infrastructure.

What are the top priorities for utility executives in the next five years according to Itron?

In the next five years, utility executives identify EV demand and grid modernization as their top priorities.

What percentage of utility executives are concerned about disasters impacting the grid?

88% of utility executives express concern about the impact of disasters on grid reliability.

What federal action is critical for driving grid modernization according to the report?

The report highlights the importance of the $1.2 trillion bipartisan infrastructure bill passed by the U.S. Senate for grid modernization.