In a 2023 survey conducted in North America among leaders and investors of the energy sector, 60 percent of the responders emphasized the need to accurately monitor, protect, and control grid conditions as a primary driver for global grid modernization in North America. Additionally, 45 percent of the respondents identified the integration of utility-scale energy storage as another influential factor in grid modernization.
Factors driving the demand for grid modernization according to energy sector executives and investors based in North America in 2023**
Responses from C-suite executives, legal counsel, and business, operations, and project managers.
Method of interview
Online survey
Supplementary notes
Survey participants encompassed firms and investors interested in renewable energy, oil and gas, utilities, mining, electric vehicles (EVs), and nuclear.Â
**The original question posed in the survey was as follows "What factors are driving demand for grid modernization?"
Figures exceed 100 percent as respondents could select more than one answer.
The number of respondents was calculated by Statista based on the figures provided by the source
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Womble Bond Dickinson. (November 14, 2023). Factors driving the demand for grid modernization according to energy sector executives and investors based in North America in 2023** [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1434333/factors-driving-demand-grid-modernization-north-america/
Womble Bond Dickinson. "Factors driving the demand for grid modernization according to energy sector executives and investors based in North America in 2023**." Chart. November 14, 2023. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1434333/factors-driving-demand-grid-modernization-north-america/
Womble Bond Dickinson. (2023). Factors driving the demand for grid modernization according to energy sector executives and investors based in North America in 2023**. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1434333/factors-driving-demand-grid-modernization-north-america/
Womble Bond Dickinson. "Factors Driving The Demand for Grid Modernization According to Energy Sector Executives and Investors Based in North America in 2023**." Statista, Statista Inc., 14 Nov 2023, https://www.statista.com/statistics/1434333/factors-driving-demand-grid-modernization-north-america/
Womble Bond Dickinson, Factors driving the demand for grid modernization according to energy sector executives and investors based in North America in 2023** Statista, https://www.statista.com/statistics/1434333/factors-driving-demand-grid-modernization-north-america/ (last visited December 22, 2024)
Factors driving the demand for grid modernization according to energy sector executives and investors based in North America in 2023** [Graph], Womble Bond Dickinson, November 14, 2023. [Online]. Available: https://www.statista.com/statistics/1434333/factors-driving-demand-grid-modernization-north-america/
