STOCK TITAN

National Grid Connects Renewables, Installs EV Charging Ports, as Part of Comprehensive Effort to Reduce Emissions

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Positive)
Tags
Rhea-AI Summary

National Grid has released its first annual update on its Net Zero Plan, showcasing significant progress in energy efficiency, clean energy integration, and carbon emissions reduction. Key actions include collaborating on the buildout of transmission lines for 1,000 megawatts of clean energy and installing 3,283 EV charging ports across New York, Massachusetts, and Rhode Island. The company aims to decarbonize its gas network and enhance renewable energy integration, while reducing direct emissions by 71% since 1990. National Grid remains committed to providing annual updates on its sustainability initiatives.

Positive
  • Installed 3,283 electric vehicle charging ports as of October 2021.
  • Achieved a 15% reduction in emissions from gas distribution mains by replacing 400 miles of pipe annually.
  • Partnered for a $1 billion transmission upgrade to integrate 1 GW of renewable energy.
  • Proposed nearly $700 million in transmission upgrades to unlock 2.6 GW of clean energy resources.
  • Collaborated on a 1.6 GW offshore wind energy project to power 750,000 homes.
Negative
  • None.

WALTHAM, Mass., Nov. 4, 2021 /PRNewswire/ -- In a year since launching its Net Zero Plan, National Grid has made strides in its efforts to improve energy efficiency, integrate clean energy resources and reduce carbon emissions across the company's footprint.

The details were documented in the first annual National Grid Net Zero Plan Update report issued today. The report describes the company's emission profile for their direct and indirect greenhouse gas emissions, focuses on fairness, affordability, and equity, and goes into details of how the company plans to progress through the critical decade of the 2020s. The report also outlines steps the company has taken to date to achieve reductions. Major highlights include plans to collaborate on the buildout of transmission lines that will connect 1,000 megawatts of clean energy to the New York grid.

"In just one year since the launch of our Net Zero Plan, we have rolled up our sleeves and made real progress on cutting emissions," said Badar Khan, President, National Grid, US.  "We have a long way to go, but the next decade will require that we move quickly. We are keeping our customers updated every step of the way, releasing annual updates. I'm proud of the work we've done so far and look forward to picking up speed on the race to net zero."

The Company's Net Zero Plan identifies key pillars of focus, including:

  • Reducing demand through energy efficiency and demand response;
  • Decarbonizing the gas network through the use of renewable natural gas and hydrogen;
  • Reducing methane emissions from our own gas network;
  • Integrating innovative technologies to decarbonize heat;
  • Interconnecting large scale renewables with a 21st-century grid;
  • Enabling and optimizing distributed generation;
  • Advancing clean transportation; and more.

The company has set forth specific targets and commitments for each of these pillars.  Some examples of these commitments efforts to date include:

  • As of October 2021, the company has installed 3,283 electric vehicle charging ports in New York, Massachusetts, and Rhode Island with nearly half located within environmental justice and disadvantaged communities.  
  • The company's aggressive replacement work of leak-prone gas pipes led to a 15 percent reduction in emissions in its gas distribution mains over five years by replacing 400 miles of pipe per year.  
  • The company established a goal of having 5 percent of its gas sold in 2030 be renewable natural gas.
  • The company has partnered with the New York Power Authority to build the Smart Path Connect project, a $1 billion transmission upgrade that will enable the integration of 1 GW of renewable energy to the grid. In addition, National Grid has proposed nearly $700 million in short-term transmission upgrades in upstate New York that would unlock roughly 2.6 GW of clean energy resources.
  • The company, along with two other utilities, issued a request for proposals for 1.6 GW of offshore wind energy for Massachusetts – energy that will power more than 750,000 homes.
  • As of September 2021, we have interconnected approximately 23,200 renewable distributed generation projects totaling approximately 900 MW in New York, approximately 67,000 projects totaling over 1,500 MW in Massachusetts, and 11,800 projects totaling 382 MW in Rhode Island. Across our three service territories, we have interconnected the 2nd largest amount of large-scale, non-residential solar of any utility in the U.S.

Throughout this critical decade, the company will continue to grow and expand many of these initiatives, and launch new ones intended to cut emissions, integrate renewables, decarbonize heat and electrify transportation.  Already, the company has reduced its direct emissions by 71 percent from its levels from 1990.

The company will continue to release annual progress reports as it seeks to dramatically reduce carbon emissions.

National Grid is a lead sponsor of COP 26, the United Nations Climate Change Conference taking place from October 31-November 12 in Glasgow, Scotland.  As one of the largest investor-owned energy companies in the world, National Grid plays a vital role at the heart of building a clean, fair and affordable energy future.

Learn more about National Grid's US Net Zero progress at: https://www.nationalgridus.com/net-zero

About National Grid
About National Grid: National Grid (NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York, Massachusetts, and Rhode Island. National Grid is transforming our electricity and natural gas networks with smarter, cleaner, and more resilient energy solutions to meet the goal of reducing greenhouse gas emissions.

For more information, please visit our website, follow us on Twitter, watch us on YouTube, friend us on Facebook, and find our photos on Instagram.

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/national-grid-connects-renewables-installs-ev-charging-ports-as-part-of-comprehensive-effort-to-reduce-emissions-301416805.html

SOURCE National Grid

FAQ

What is the National Grid Net Zero Plan Update?

The National Grid Net Zero Plan Update details the company's progress in reducing carbon emissions and integrating clean energy since launching its plan.

What achievements has National Grid made under its Net Zero Plan?

National Grid has installed over 3,200 EV charging ports and reduced emissions in its gas distribution by 15% through pipe replacements.

What are the future targets of National Grid's Net Zero Plan?

National Grid aims to decarbonize its gas network and integrate large-scale renewables to further reduce carbon emissions.

How much renewable energy is National Grid looking to integrate?

National Grid is working on projects to integrate 1,000 megawatts of clean energy and has proposed upgrades to unlock 2.6 GW of resources.

When will National Grid release its next update on the Net Zero Plan?

National Grid plans to release annual progress reports on its Net Zero initiatives.

National Grid PLC

NYSE:NGG

NGG Rankings

NGG Latest News

NGG Stock Data

61.14B
4.89B
0.01%
4.44%
0.09%
Utilities - Regulated Electric
Utilities
Link
United States of America
London