ERG Identifies NOAA Space Weather Products and Services Benefits to Electric Power Industry

ERG conducted an economic benefit analysis of NOAA’s space weather data products and monitoring services to the electric power industry for NOAA’s National Environmental Satellite, Data, and Information Service. Particularly large space weather storms, or bursts of energized particles traveling from the sun toward Earth, disturb Earth’s magnetic field. While this can cause beautiful aurora in the sky, it can also disrupt the generation, transmission, and distribution of electric power. ERG conducted literature searches, expert interviews, and socioeconomic modeling to successfully identify and monetize economic benefits from NOAA’s space weather products and services that accrue to the electric power industry by avoiding or reducing operational disturbances and/or infrastructure damages during a space weather event. ERG also qualitatively identified the benefits of NOAA’s space weather constant monitoring services.