2018 Energy Trends
Perry Stoneman, Global Head of Utilities at Capgemini (an expert in IOT, smart energy services and utility transformation) has identified five trends that will shape the energy and utilities landscape in the coming year. These predictions touch on everything from Elon Musk's developments in battery storage solutions, the rise of renewable energy techs, the growth of self-powering communities and the role of AI and robotics in consumer expectations.
Perry's predictions are based on two seemingly contradictory requirements: the need to innovate and the need to economize.
Based at Capgemini's Toronto office, Perry nonetheless leads the company's global energy practice - giving him a unique perspective on these trends and how they resonate in this country.
Below is a brief summary of Perry's five predictions.
- Energy markets will be challenged by the rise of RenTechs - RenTech is the disruptive impact that renewable energy technologies and companies are having in the energy industry. RenTech could pivot into an alternative energy supplier.
- Consumers will consider self-powering communities over traditional utilities firms - As renewable energy rapidly becomes more affordable, communities are starting to see the possibilities of implementing community-owned and operated renewable generation facilities. Traditional utilities need to recognize these trends and decide whether they'll participate in the marketplace.
- Elon Musk will prove battery technologies' potential for energy storage - 2018 will be the year batteries prove themselves, and Elon Musk is leading the charge. Significant projects are underway worldwide in which battery technologies are being implemented at the utilities scale.
- Artificial Intelligence and robotics will start to restore consumer faith in utilities -The data we see today confirms that Artificial Intelligence and robotic process automation (RPA) will have a profound effect on utilities in 2018.
- Utilities transformation programs will accelerate and start to pay off - 2018 is the year that utilities transformation programs will start to pay off, thanks to programs accelerating the role of the Chief Digital Officer (CDO). CDOs know that transformation is needed and when an organization invests in a senior executive's efforts, it will accelerate the transformation.
Capgemini | www.capgemini.com