The energy sector is one of the last to face the transformation forced upon them by technical, social and political developments. While the writing has been on the wall for some time – initially driven by environmental and sustainability issues – it was not until consumer energy prices started to increase that the foundations of this industry were questioned, at which point the sector was thoroughly scrutinised by the consumers, media and the politicians.
At that time it became clear that the industry had failed to keep up with social change and with changes in technology. It now faces significant challenges, both in relation to sustainability and to price increases.
This BuddeComm Intelligence Report analyses what challenges are facing the energy industry and what is needed for a successful transformation of this essential sector.
Looking at 2013 and beyond, the good news is that the industry is increasing its investment in new technologies. So in time the transformation will happen. However in many situations there could be a significantly more strategic approach to the current processes. There are now several countries that are putting smart infrastructure central to their energy policies as they see this as the key to link the various policy and innovation developments together. Germany, the Netherlands and the Scandinavian countries are amongst the thought leaders in this field and Germany has invested heavily to make this happen. By 2030 investment in renewable energy will at least three fold the current levels. Demonstration projects are now being used to help understand the challenges and full benefits of Transactive Energy Systems.
Hot topics in this report:
Smart grid transformation; Green economy; Smart meters; Smartphones; Internet of Things; M2M; Intergrid; Telecommunications; Renewable energy; Distributed energy resources (DER); Demand response; Time of Use (ToU).