At The Verge Of The New Energy Transition
EY blog warns grid operators ‘the clock is ticking’; The energy transition is accelerating, Ernst & Young global energy leader Benoit Laclau has warned grid operators, thanks to the confluence of digitization, decentralization and decarbonization. Traditional utilities must get with the program or be swept aside.
Max Hall, July 5, 2019 (PV Magazine)
“The energy transition is gathering pace faster than ever…[under] the influence of the three Ds: decarbonization, decentralization and digitization…[and, according to global business consultant EY, utilities need] to embrace the switch to renewable energy and storage if they wish to survive…[New analysis of energy markets in Europe, Oceania, Gulf Cooperation Council nations, China, India, Latin America and the United States shows new renewable energy capacity] outpaced conventional power asset additions for the seventh year in a row in 2018 thanks to battery storage, EVs, artificial intelligence (AI) and machine learning…40 GW of energy storage are set to be added worldwide by 2022 and with the technology already beating natural gas on price in some markets. The role played by AI and machine learning in enabling peer-to-peer energy trading would transform life for surviving power companies…
[Over 60 nations have] declared plans to totally decarbonize electricity generation…[50 businesses have] committed to powering their operations entirely from renewable energy and more than 200 [have] pledged to source at least half their power from green sources as private power purchase agreements (PPAs) signed direct with generators and on-site installations proliferated…[R]ising costs for the transmission of energy contributed to corporate deals that could cut out power network operators entirely…[Transportation and building electrification] would add further momentum to the new energy landscape…[The only option for generators and distribution network operators] is to embrace the change and get ahead of the game by investing in the electrification of transport, energy storage and microgrids and changing the services they offer…” click here for more