Resilience Valuation: Methodologies and Tools

The frequency of extreme weather events has recently increased, causing damages to major power system equipment, prolonged power outages, economic losses, and concerns about the resilience of the power grid. This calls for quantifying both resilience of power supply and economic losses due to power outages. This requires developing resilience valuation methodologies and tools to help governments, decision makers, and business owners assess and compare investment alternatives for resilience enhancement. This panel will (1) discuss economic impacts of power outages due to extreme weather events on communities, businesses, and other infrastructures; and (2) review current resilience valuation tools and methodologies. Experts from industry, local governments, regulatory, and research institutions will present and discuss their methodologies, tools, and plans for valuing resilience of power supply.