Like other utilities, PowerSouth has been faced with the need to increase capacity to accommodate growing demand from customers. The increased capacity requires network expansion to edge devices beyond substations.
Few things represent the dynamic and decentralized nature of the power market like distributed energy resources (DER). These advanced decentralized electric grid technologies, which generate electricity at or near their point of use, illustrate a major shift in the marketplace as ratepayers scrutinize their consumption habits and accelerate the search for affordable, resilient, and sustainable power.
As advanced technologies and new opportunities continue to improve our operational efficiency, productivity and resiliency across the electric utility sector, electric utility leaders are growing increasingly aware that with heightened opportunities comes heightened risk, particularly when increased connectivity through digitization of operational devices brings new vulnerabilities into play.
The Artificial Intelligence (AI) genie is not going back into the bottle; leaving the world to contemplate how best to manage this most potent, yet controversial, tool. The water sector’s response has many parallels with reactions to AI more broadly: we are certain AI has benefits, are less sure about how to realize them, and wary of unintended consequences.
Utilities have traditionally followed load, investing in assets when demand required it. Today’s wholesale energy markets are starting to push them in a different direction. Instead of load, utilities are being forced to follow their customers, and load doesn’t always come along with them. That’s leading to a wholesale energy market that pivots on decentralized energy production. Essentially, wholesale energy markets are becoming as decentralized and disaggregated as generation itself.
Imagine customers, third parties and even utilities participating in a market in which their investments in renewable energy and other distributed energy resources could be monetized. The uptake of clean energy would dramatically accelerate, creating new opportunities for innovation and an open, inclusive energy economy. It’s the next evolutionary step to profoundly transforming the energy industry into something where everyone can win and it’s happening now.
It’s the classic chicken-or-the-egg question. If attempting to revolutionize the auto industry, do you introduce the car or the supporting infrastructure first? For Joel Ewanick, the answer was obvious – get the infrastructure in place.
Hydropower producers have difficult decisions to make about where to invest in their assets. On the one hand, they need to invest in facility and equipment upgrades and unit availability and reliability. On the other, variable capital costs, rising operations and maintenance costs, and permit and licensing requirements are concerns.
$10 trillion dollars. If you run, work for, or are seeking to invest in a global company, this is a figure that should be top of mind. $10 trillion is larger than the annual GDP of all but two of the world’s economies. $10 trillion is nearly double the market cap of the Dow Jones Industrial Average companies. And yet, $10 trillion is just a fraction of the financial might working to transform how companies view and invest in sustainability.
Similar to the way that music services like Spotify and YouTube give artists a platform to share and monetize their product without the oversight of a record company, a DER marketplace can have the same impact on our electric grid.
Digital technology and networks are breathing life into utilities’ aging distribution systems just as distributed energy resources (DER) and renewable energy are challenging traditional business models and centralized generation.
Water management is a critical part of any mining operation, and the impact and cost of mismanagement are becoming increasingly high as miners are held to a stricter level of accountability by stakeholders. Missteps in water management not only increase a mine’s power and operational costs, but they can do irreparable harm to a mining company’s reputation.
The electric utility industry is in the middle of a transformation that has no precedent. Historically speaking, delivering electricity was relatively simple. Today, there’s no tested roadmap on how to handle the partial and unpredictable generation of electricity by customers through rooftop solar and other DER.
On reclaimed land at the southwestern tip of Singapore, the co-location of two major utility infrastructure facilities are set to establish new standards in how we harness water, waste and energy resources.
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