New Report: America’s Electric Grids Growing More Vulnerable

“Green” and “smart” grids are increasing risk of cyberattacks rapidly

NEW YORK, NY (6/30/16) – As the desire for green energy grows, so does the need to connect grids to the Internet in order to provide continuous and reliable electricity. A new paper by the Manhattan Institute’s Mark Mills shows that such technologies pose enormous cybersecurity risks.

While today’s grids are relatively secure, Mills argues that the primary concern isn’t today’s security but tomorrow’s. As grids become greener and smarter, they will require far greater Internet connectivity to continuously supply electricity to an on-demand economy. The greater the grid-Internet connectivity, the greater the opportunities for hackers to disrupt energy supply.

As the “information economy” comprises a larger and larger share of GDP, the economic implications of a blackout become graver. Worst-case scenarios for a cyberattack on electricity predict as much as $1 trillion in economic damages. The threat is only growing: cyberattacks overall have been rising approximately 60 percent annually for the past several years, and utilities are becoming a more common target.

Mills argues that the new reality of grid security requires changes in both public policy and private sector research priorities and provides suggestions to make the grid and the economy more secure.

Click here to read the full report.