Fossil fuels (oil, coal, and gas), which are non-renewable and are the main cause of the carbonization concerns we are currently facing, account for almost all of our energy supply today or have in the past. Omitted Carbon gets trapped in our atmosphere and has been the increasing concern as the main source of our warming planet.
Therefore, it should come as no surprise that renewable energies are the energy source with the quickest rate of expansion. By 2040, they will account for the majority of the increase in the world's energy supply. Even without subsidies, wind and solar power are the most affordable sources of electricity generation in the majority of locations.
The switch to renewable energy also encourages the development of decentralised energy resources (DER). Small local generation assets that feed directly into the distribution system are responsible for a major portion of the generation of renewable energy sources like solar, wind, or biofuels. The intermittent nature of solar and wind makes it difficult to maintain a balance between supply and demand in the power systems.
Additionally, the demand side is shifting as more and more household, business, and industrial customers start producing their own energy. Due to this, utilities' business models shift from being just focused on selling energy and water to offering a whole range of services to energy prosumers.
The issues of the energy transition have a solution in digital transformation, which also propels new business models and services. Utilities need a strategy for managing the flood of data coming from smart devices and other sources and using it to feed their intelligence as practically everything becomes "smart."
As you learn more about this energy transition's complexity, you become aware of its challenges. The key driver will be innovation, which requires the following:
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Deliver technological innovations that give green alternatives to traditional energy technology that are affordable,
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Technology innovation that enhances currently available renewable technologies to lower costs and achieve wider adoption
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Innovative business models that bring new investment to the energy sector;
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Investigating fresh ideas that encourage the expansion of green technologies.
The Windpower Data and Digital Innovation Forum is a two-day senior-level virtual event that will offer the ideal opportunities for networking, interaction and one-on-one meetings.
To register or learn more about the Forum please check here: https://bit.ly/3TJzA5b
For more information and group participation, contact us: [email protected]
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