Quantifying the economic costs of power outages owing to extreme events: A systematic review

IF 16.3 1区 工程技术 Q1 ENERGY & FUELS Renewable and Sustainable Energy Reviews Pub Date : 2024-10-14 DOI:10.1016/j.rser.2024.114984
Archana Ghodeswar , Mahabir Bhandari , Bruce Hedman
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Abstract

Quantifying the economic cost of long-duration power outages is crucial to justifying investments in resiliency and reliability improvements. However, extensive study on the subject complicates the identification of power outage costs and determining the most suitable approach to quantify them for an individual, specific facility, particularly in the context of extreme events.
This research provides a systematic review of economic studies estimating the impact of environmental disasters at the microeconomic and macroeconomic levels. Of 326 articles, evaluating the costs of power outages in extreme events, this work identified 22 studies that attempted to quantify the economic costs. These findings indicate that quantifying power outage costs lacks standardization, posing challenges for comparing different studies. Most analyses aiming to quantify these costs for utilities, sectors, and the overall economy rely on outdated survey data, which offer generalized rather than specific cost estimations. The costs of power outages exhibit a significant dependence on factors such as the sector involved, the type of customer affected, and the outage duration.
To quantify industry costs, the research in this study suggests that using the National Renewable Energy Laboratory's online, open-access Customer Damage Function Calculator is the best option for individual-level assessments of industries, hospitals, offices, education centers, and similar facilities. However, the Interruption Cost Estimate Calculator can estimate outage costs across industrial, commercial, and residential sectors for macroeconomic outcomes. Finally, this article discusses the relative strengths of these methods and tools and the potential directions for future research.

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量化极端事件导致停电的经济成本:系统回顾
量化长期停电的经济成本对于证明投资于提高抗灾能力和可靠性的合理性至关重要。然而,对这一主题的广泛研究使得确定停电成本和确定量化单个特定设施停电成本的最合适方法变得更加复杂,尤其是在极端事件的背景下。这项研究对在微观经济和宏观经济层面估算环境灾害影响的经济研究进行了系统性回顾。在 326 篇评估极端事件停电成本的文章中,本研究发现了 22 篇试图量化经济成本的研究。这些研究结果表明,停电成本的量化缺乏标准化,给比较不同研究带来了挑战。大多数旨在量化电力公司、部门和整体经济成本的分析都依赖于过时的调查数据,这些数据提供的是笼统而非具体的成本估算。要量化行业成本,本研究建议使用美国国家可再生能源实验室的在线、开放式客户损害函数计算器,这是对工业、医院、办公室、教育中心和类似设施进行单个级别评估的最佳选择。然而,"中断成本估算计算器 "可以估算出工业、商业和住宅领域的中断成本,从而得出宏观经济结果。最后,本文讨论了这些方法和工具的相对优势以及未来研究的潜在方向。
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来源期刊
Renewable and Sustainable Energy Reviews
Renewable and Sustainable Energy Reviews 工程技术-能源与燃料
CiteScore
31.20
自引率
5.70%
发文量
1055
审稿时长
62 days
期刊介绍: The mission of Renewable and Sustainable Energy Reviews is to disseminate the most compelling and pertinent critical insights in renewable and sustainable energy, fostering collaboration among the research community, private sector, and policy and decision makers. The journal aims to exchange challenges, solutions, innovative concepts, and technologies, contributing to sustainable development, the transition to a low-carbon future, and the attainment of emissions targets outlined by the United Nations Framework Convention on Climate Change. Renewable and Sustainable Energy Reviews publishes a diverse range of content, including review papers, original research, case studies, and analyses of new technologies, all featuring a substantial review component such as critique, comparison, or analysis. Introducing a distinctive paper type, Expert Insights, the journal presents commissioned mini-reviews authored by field leaders, addressing topics of significant interest. Case studies undergo consideration only if they showcase the work's applicability to other regions or contribute valuable insights to the broader field of renewable and sustainable energy. Notably, a bibliographic or literature review lacking critical analysis is deemed unsuitable for publication.
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