Distributed energy resources (DERs) — energy efficiency, demand response, distributed generation and storage — are beginning to displace the need for some traditional utility infrastructure investments in some U.S. regions. However, the value of DERs to the electric system depends in part on DER characteristics — including where they are sited, when they generate or save energy, and their cost-effectiveness compared to traditional grid investments. The EMP Group has researched the time-varying value of energy efficiency in several states and regions.