Energy infrastructure projects have been expensive and plagued by delays, but that’s no longer the case. With new construction technologies and innovations becoming available every day, it is easier than ever to capitalize on the newest opportunities in energy generation. In this guide, we will teach you what an Energy Infrastructure project entails so let’s get started.
An Energy Infrastructure project is a long-term (10+ year) investment designed to improve or create an energy system. This may include large components of pipes, solar panels, wind turbines, and more.
The purpose of an Energy Infrastructure project is to produce a large amount of energy that can be used for many purposes. Usually, this includes selling the energy itself to profit or using it to power a local population. Energy Infrastructure projects are complex and require careful planning and construction in order to ensure maximum efficiency.
Most commonly world leaders create Energy Infrastructure projects to improve their country’s infrastructure, solvency, or overall national stability. For example, China created the Three Gorges Dam to increase electricity production and harvest more water for agriculture. This project improved the region’s infrastructure and industrialization of the area completely.
The U.S., on the other hand, has been making Energy Infrastructure projects less expensive due to investments in new technologies and skillsets. With innovations like Battery Electric Vehicles (BEVs) in place, it is easier than ever to install renewable energy systems that are both cost-effective and efficient.
The Technological Advantage
With a new wave of energy efficiency, renewable energy, and innovative infrastructure, Energy Infrastructure projects are becoming more cost-effective and efficient. New technologies and innovations allow for the creation of unique assets that contribute to the country’s overall economy.
For example, in Germany, the construction of a high-voltage Direct Current link between an offshore Wind farm and a solar plant was shown to be 15 times more efficient than traditional grid technology. This means the offshore wind farm is 15 times more efficient and less costly to operate than traditional grid technology.
By implementing these unique projects, Energy Infrastructure projects can increase a country’s GDP and make it easier for America to enter into new foreign markets.
Energy Infrastructure project costs can be lowered by utilizing new technologies and innovations that maximize efficiency. Use of these technologies saves money for the initial costs for the asset, increases the payback period, or decreases the overall cost of ownership.
Energy Infrastructure project costs can be lowered by using a new technology or innovation. These are:
Some other key factors that influence the costs of Energy Infrastructure projects are labor, project management, and use of existing assets (i.e. available land life).
For example, the construction of a hydropower plant in Brazil was able to decrease its capital costs by 90% with the use of optimization algorithms and maximum efficiency equipment.
Setting up an Energy Infrastructure project requires careful planning and attention to detail in order to maximize its efficiency. The planning process usually involves creating a detailed list of all tasks required to complete the project and when each task should be completed. Each task also requires a detailed description of what needs to be done so that no work is missed.