Here we look ahead to how the energy world may look in 10 years. What strategies are required now to prepare for this energy transformation?
Operating electric grids with high penetration of intermittent resources poses unique challenges for utilities and grid operators. One traditional response is to ramp up gas-fired generators but soon, storage solutions could offer new strategies. How are Generators and RE Developers adjusting their strategies to cope with the big switch to renewables while still managing to offer energy security at an affordable price?
Thailand’s push for regional energy trading via a SEA Super Grid could be a step to increasing regional security of supply and system resiliency. Recent proposals for HVDC lines cite the ability to move generation from high RE resource areas to high electric demand areas as a primary project goal.
Renewables are absorbing twice as much investment for power generation as coal, gas, oil and nuclear combined last year. Global oil and gas companies are shifting their models through acquisitions in the power generation and distribution sector as well as in EV. Where do the synergies lie between energy transition opportunities, wind, solar and carbon capture? How should companies be preparing for the Electrification of Everything?
The wider adoption of electrification comes with implementation challenges and cost – but also exciting new innovations to help drive the transition process. Blue hydrogen is said to be the key to building scale and lowering costs in hydrogen transport and distribution, which will enable an earlier transition to renewable green hydrogen
The world sits at the beginning of the age of mass electrification. Energy and Power companies need to be ready for the impact. One of the biggest changes will be the widespread use of EVs and solar-powered smart charging stations. What new business models will emerge in this exciting future where smart electricity replaces fossil fuels and we lean towards a clean energy economy.