Summary
- Stakeholders must collaborate to share growth and revenues in charging microgrid projects
- Use federal and state-level incentives to enhance bankability of charging microgrid projects
- Edward Freeman’s Stakeholder Theory emphasizes creating value for all stakeholders in business
- Actions needed for freight truck electrification include coordination among initiators
- EPC firms must engage with utilities and grid operators to ensure successful deployment of microgrids for charging trucks
Article
Edward Freeman, known for his work in business ethics and strategic management, introduced the Stakeholder Theory in 1984, emphasizing value creation for all stakeholders. In the United States, electrification of freight transportation presents opportunities for economic, environmental, and equitable value. The article explores the challenges of truck charging and the importance of stakeholder efforts in deploying microgrid-centric charging for electric truck adoption. It suggests actions for initiators to coordinate charging and microgrid build-outs at truck stops and depots, leveraging state and federal incentives to enhance bankability.
The article focuses on three major initiators in freight truck electrification: freight operators, owners/operators of truck stops/depots, and turn-key EPC firms. By collaborating and coordinating, these initiators can create value for all stakeholders involved, simplifying the process of deploying charging infrastructure. The ownership of truck depots is crucial, as it allows for streamlined coordination between stakeholders and facilitates the deployment of microgrid-centric charging. Standardizing microgrid components, software, and processes can help modularize and scale microgrids, reducing costs and increasing efficiency.
Key stakeholders such as electric utility operators and microgrid operators play vital roles in facilitating the successful deployment and operation of microgrids. Utility partnerships can create new revenue opportunities and support community resilience. It is essential for truck stop and depot operators to engage with EPC firms for monitoring and maintenance of microgrid infrastructure. Techno-economic evaluations are necessary to identify value streams and optimize the benefits of microgrid-centric charging, while taking advantage of federal and state incentives to reduce costs.
Complex coordination challenges, regulatory barriers, and limited awareness of microgrid-centric charging can be addressed through incremental staging of buildouts and stakeholder engagement. Microgrid-centric charging offers economic benefits such as cost reduction and new revenue streams, as well as environmental benefits like GHG emissions reduction and sustainability. By addressing awareness and expertise gaps, the knowledge and skills necessary for successful microgrid construction can be developed. The focus on stakeholder coordination and value creation aligns with Freeman’s Stakeholder Theory, emphasizing the importance of creating value for all stakeholders involved.
Authors Rish Ghatikar and Michael Barnard bring extensive experience in decarbonization and climate futurism to the table, providing insights and strategies for accelerating the transition to a sustainable energy future. Their expertise in electric vehicles, grid integration, and renewable energy expansion contributes to the practical solutions outlined in the article. By highlighting the economic and environmental benefits of microgrid-centric charging, the authors advocate for a collaborative approach that benefits all stakeholders and aligns with the broader goals of sustainability and clean energy transition.
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