Breakout Technologies Helping Energy and Utilities Companies to Innovate and Thrive in 2018
If you’re in the Energy and Utilities sector, then this whitepaper should be a great read. This sector is changing constantly and new technologies are arriving every day that impact how energy is produced and distributed. Discover trends, research and editorial content that will give you the perspective you need to make operational decisions.
Published: April 10, 2018
Length: 12 Pages
Format: Acrobat PDF
Author: Sopris Systems
Table of Contents
- New Economics of Renewables
- New Entrants and Self-Powering Entities
- Evolving Consumer Expectations
- The Weight of the Past
- Emerging Technologies
- IoT (Internet of Things)
- AI (Artificial Intelligence and Smart Devices)
- AR (Augmented Reality)
- Cloud Computing
- Field Service and Project Optimization
- Agile Approach to Renewables
Abstract (350-Word Sample)
Breakout technologies helping Energy and Utility companies to innovate and thrive in 2018
2017 was a challenging year in the energy and utility space with some foreshadowing of things to come. How do Energy and Utility (E&U) companies simultaneously innovate and economize? How do they fend off new entrants? How do they face myriad threats and opportunities not seen in decades as players scramble to maintain and grow the value they deliver to their various constituencies?
While there is a long history of internal and external threats facing utility companies, today the stakes are raised as disruptive technologies are entering the market and changing decade-long paradigms. Players are having to maneuver to stay relevant and smart companies are seizing the opportunity. This paper will lay out some of the most pervasive challenges in the market today and discuss how some early movers are taking advantage of emerging technologies.
Renewables / Early Movers
It’s no secret that the falling costs of wind and solar are accelerating the move to clean energy. The capacity for renewables is expected to double over the next 10 years. In 2009 it cost $300 to generate 1MW of electricity, today it costs $100. There are many examples of how the new economics of wind and solar are displacing traditional power generation.
The state of Nevada lost 6% of its utility business overnight when 15 casinos switched to small renewable providers. The state of Hawaii has a stated goal of having its state utilities generate 100 percent of its electricity from renewable resources by 2045. This goal is looking more attainable after Microsoft collaborated on an IoT enabled renewable energy initiative, to create an autonomous energy grid that stores surplus energy for future use.
While the US is lagging behind the European and Asian utility companies, many US companies are expediting strategies to improve the supply-side by incenting customers to participate in the generation of renewables. Recently more than 60% of utility companies cited reliable integration and distribution of renewables as an essential element of their go-forward strategy…
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