Digitalization gives choices to all within the Energy System to build out more robust business models. Data changes the conversation
Not only does the digitalization of the energy system provide “data understanding” and the potential for real-time information and insights, but it can also give the building blocks to validating and scenario building required to narrow the gaps between demand and supply.
To achieve this you need “line of sight” and having a fully connected digital energy system can give real-time potential and the ability to improve predictability and the different “switching” opportunities to respond in fat more timely and focused ways.
Today the energy system is planned more to be overbuilt, to power up generation rapidly to offset sudden (often unpredicted and surging) demand as understanding is limited to past history. Much of the predictive understanding is based on individuals insights or data crunching, based on spreadsheets and limited estimates.
Capturing data helps manage the Energy System intelligently
Capturing real-time data does not take out all the anticipated demand estimates that still will be judgments but more on real-time data that can give a greater richness of understanding to make more informed decisions.
The digitalization and innovation of the grid edge, for example, will transform the electricity industry as it can give a choice to the end-user on preferences, what they chose to connect into (power consuming connected devices), and give them a greater awareness of what makes up the energy chain.
Knowing your energy data opens up the world to new possibilities
Data provides the potential for new existing business models that benefit the provider of electricity but also the user, it opens up new options to both.
The end-user can begin to demand electricity sources that are fuelled by renewable energy; they become more interested in their carbon footprint and become prosumers where they achieve higher interactions, growing expectations they are in reliable systems, and offered protection and security in what they engage within.
Building digitalization into the energy transition allows for a greater ability to manage assets, offer new services and allow for greater variability in supply and demand options.
We need to ensure the internet of energy becomes an integral part of the Energy Transition. Dynamic data understanding will galvanize our approaches to managing energy.