The magic of power shifts lies in the transmission and distribution of clean energy to the customers
Restructuring of power grids to be able to accommodate the power shifts is a major piece of the energy puzzle. Power grids are seen as the true enabler that controls, analyses and transmits clean energy to people and industries. How the grid evolves will determine how economical the transformation to these cleaner energy resources will be and, therefore, how quickly they are adopted.
Power and Utilities Perspective, a report by Deloitte, has examined the energy and utilities industry?s ability to embrace disruption. For power and utilities companies, the pace of technology change brings a non?stop stream of questions, challenges and opportunities.
As power companies, equipment manufacturers, service providers and endusers seek to position their businesses for the future, the industry will need to resolve issues such as ancient grid infrastructure and the need to adapt; penetration of renewable energies; ensuring sustainable energy for all; the different cost of fuels and generation mix infrastructure; pressures to reduce power prices etc.
Deloitte?s report highlighted that new tools can help enhance the efficacy, resilience and security of distribution grids while deriving new insights from smart meters. New technology brings new talent challenges, but it can also enhance training and certification across every role. As distributed generation and storage technologies gain traction, the grid is moving from unidirectional distribution toward multi-directional networking with millions of buyers and sellers. Pilot technologies include Blockchain for secure financials, IoT to monitor the grid and artificial intelligence (AI) and data science to predict supply and demand.
Global energy transformation
The International Renewable Energy Agency?s (IRENA) comprehensive roadmap to global energy transformation examines technology pathways and policy implications to ensure a sustainable energy future.
Francesco La Camera, director-general, IRENA, said, ?The global energy transformation is happening, driven by the dual imperatives of limiting climate change and fostering sustainable growth. An unprecedented decline in renewable energy costs, new opportunities in energy efficiency, digitalisation, smart technologies and electrification solutions are some of the key enablers behind this trend.? According to the roadmap, the level of additional investments needed to set the world on a more climate?-friendly path above current plans and policies is US$15tn by 2050?Continue reading!
