VALVE MAGAZINE Fall 2023

In addition to power generation, many power companies are investing in carbon capture and underground storage (CCUS) technology to capture CO 2 at its source and transport it to be stored underground, removing it from the atmosphere. Currently, four proj ects are underway in the U.S. for CCUS, but this number will continue to rise. Companies are also looking at energy storage options to back up their grids. Currently, there is 1650 MW of energy

The high cost of concrete and labor are hindering some of the potential growth, or at least costing more than anticipated. Decker says there are cur rently 383,000 unfilled construction jobs in the U.S., and in infrastructure, only 11% of the workforce is currently under age 24, with 17 million infra structure workers hitting retirement age in the next decade. This is already resulting in fewer bids and longer schedules, and this may continue for the foreseeable future. Decker’s forecast for the water and wastewater markets is for double-digit expansion for the rest of 2023 and 2024. Inflation and supply chain issues persist but are getting better, and the influx of government investment will help continue to keep this sector on an upswing for the next few years. POWER MARKET Climate activism is changing the power market. But the economics of shifting to clean energy is not just slow but very expensive. Lyle White of LWSC Consulting says that $6.5 trillion has been spent to reduce fossil fuel emissions since the year 2000, and it’s only reduced 1% from 82 to 81%. At that rate, and the cost necessitated to achieve this, current climate initiatives by the U.S. and the west won’t offset the growing fossil emissions of China, India and other developing countries in Asia to meet any of the set goals. Today, 22% of U.S. power production comes from solar and wind, but 60% must be achieved in the U.S. to meet the government’s stated 2035 emissions goals. Renewables today still need to be backed up with conventional power sources, and White suggests that nat ural gas and nuclear plants will be part of the solution. According to the North American Electric Reliability Corpo ration (NERC), a nonprofit regulatory authority whose mission is to assure effective and efficient risk reduction to the power grid, at current rates the U.S. is predicted to sustain power shortfalls in the next decade, requir ing brownouts and blackouts across the country at different times of year during peak loads.

storage in the country, but 12,500 MW is needed by 2050 per NERC’s estimates. White said he believes that small nuclear reactors may be key to lowering emissions and having stable power. These carbon free, easy to build and run plants can be strategically located, even onsite for some large companies to be power independent. The first U.S. plant coming online is TerraPower’s 345 MW plant in Wyoming, planned in 2024. This Natrium reactor demonstra-

FALL 2023 VALVE MAGAZINE

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