$350 Billion in Weather Related Damage in Next 20 Years

That is seven nuclear plants...  

US Energy Secretary Ernest Moniz wants Louisiana's ideas for a better power grid 

U.S. Secretary of Energy Ernest Moniz delivers his presentation before the Edison Electricity Institute during its annual convention at the Hyatt Regency in New Orleans, Monday, June 8, 2015. (Photo by Ted Jackson, NOLA.com | The Times-Picayune) (TED JACKSON) 

The U.S. electricity grid faces an array of threats, including rising sea levels, storms and cyberattacks. The federal government is looking to states such as Louisiana to develop ways to protect it, U.S. Energy Secretary Ernest Moniz said Monday (June 8). 

Moniz was one of several featured speakers Monday during the Edison Electric Institute's annual convention in New Orleans. 

Severe weather, cyber threats, the rise of solar and other renewable energy sources, and aging equipment are "a daunting set of complex issues," Moniz said, "but we have to get the electric system right." 

Moniz said hurricanes Katrina and Rita underscored the need to harden substations, high-voltage power lines and other electricity infrastructure from future storms.
Storm threats are only expected to worsen. The U.S. is bracing for more than $350 billion in weather-related damage to the electricity system over the next 20 years, about $20 billion on the Gulf Coast alone, Moniz said.
Old transmission lines need to be replaced with newer, more durable lines, substations have to be built above flood levels, and back-up power systems developed, he said. 

As Louisiana copes with rising sea levels and future storms, it and other states will play a "pivotal role" in developing innovative ways to improve the power grid, he said. 

Moniz said the Energy Department is pushing for a new program that would offer between $3 billion and $5 billion in competitive grants over the next 10 years to states with innovative solutions to enhance energy infrastructure resilience, reliability and security. 

Moniz pointed to New Jersey's effort to develop a microgrid to provide back-up power to its rail system during severe weather. The Energy Department partnered with the state in 2013 to design the system. The partnership was part of the response to Hurricane Sandy, which hit the Northeast in 2012. 

Hardening the electricity grid is not the only place Louisiana could play a role. 

Moniz added Louisiana ports are at the heart of the country's push to export natural gas amid a glut in domestic supply. 

The nation needs to improve its waterways to accommodate traffic from large liquefied natural gas tankers, for example, he said.