Utilities Tech Outlook Weekly Brief
Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Utilities Tech Outlook
Power utilities are slowly partnering with EV manufacturers in areas such as EV charging, vehicle-to-grid (V2G) systems, energy storage, and renewable energy sources to enhance their offerings.
FREMONT, CA: The power sector is experiencing significant transformation. Historically opposed to the execution of emerging technology, power companies are now recognizing their advantages and investing heavily in them. The best five innovations that will have the maximum impact on the sector during the next three years are cybersecurity, big data, cloud computing, robotics, and the Internet of Things (IoT). These are three power industry trends to look out for:
Microgrids
The power sector's microgrid demand remains to expand, propelled by the requirement for adaptability, electricity protection, and faraway area electrification. With tasks as large as the 100MW Armonia Microgrid in Palau being built, the microgrid project scale has been increasing. Developments in policy have also been promising.
Electric Vehicles
In recent years, the adoption of electric vehicles has been increasing and is set to continue. EV implementation targets are set by governments worldwide, allowing market stakeholders to invest across the supply chain of EVs. Power utilities are slowly partnering with EV manufacturers in areas such as EV charging, vehicle-to-grid (V2G) systems, energy storage, and renewable energy sources to improve their offerings.
Digitalization
Cybersecurity receives the maximum attention from power companies to obtain networks from cyber threats. Power utilities have acknowledged the debilitating impact on the grid that cybersecurity problems can have and are willing to spend heavily to ensure safety.
Valuable tools that support these efforts are big data and cloud computing. Cloud models help utilities minimize IT CapEx and provide limitless storage and sophisticated analytics. The IoT allows power companies to track and control their resources remotely. Using IoT, utilities can also carry out predictive maintenance of assets.
