Is The Future of Energy Industry Data-Driven

Is The Future of Energy Industry Data-Driven

By Energy CIO Insights | Wednesday, October 16, 2019

The data would pave the way for consumers that are more dedicated and a proactive energy industry.

FREMONT, CA: Energy is an essential and necessary commodity for our economy. Everybody uses it and needs it to remain warm, to light their homes, and to support the companies. But in the energy sector, there is a quiet revolution led by increased data usage and the urgent need to decarbonize the economy. And smart meters are critical to delivering both. The energy sector is flooded with data. Knowledge comes from a variety of sources – analysis, development, transport, and distribution – and businesses have a difficult time coordinating it.

Smart Meters are only the Beginning of Data-Driven Power

People often concentrate on the primary benefits of smart meters for consumers: the opportunity to save energy and money instantly. However, significant improvements to the national infrastructure are necessary to achieve much more. Smart meters provide a potential data-driven energy system and will completely transform the relationship between consumers and their power when combined with electric vehicles (EV) and battery storage.

Imagine a world in which the data generated from everyday appliances can help to quickly figure out where money can be saved, whether it's due to behavioral changes or identifying more energy-efficient white goods or isolation. Such information may also keep in touch, knowing that you are standing up and turning on the lamp, or heating the pool. This opens the door to more dedicated consumers and a proactive energy sector based on data.

New Smart Instruments that Already Display Data-Driven Energy Potential

In today's world, there are many smart appliances and innovative products, giving customers greater control of their energy use. Time-of-use tariffs often allow people to choose energy. We do not use coal for days, and less than 10 percent of our power needs are supplied. Most of our electricity came last year from low-carbon sources like the sun, solar, and nuclear sources. This is a growing trend with approximately 400,000 low carbon jobs and an increasing market. Future modifications will be even more dramatic. For a process that incorporates growing levels of renewable, potential decarbonization is essential and will be even more difficult. More challenges lie ahead as we explore how to use transportation and how to power our homes and businesses. When it comes to heating, difficult choices will need to be made, and this will require strong government leadership. Therefore, at least ten million EVs are expected to be on the street by 2030.

What is Needed in order for Power Based on Data to Become Reality

Therefore, the national infrastructure plan must be made up of energy efficiency. They also have to make use of innovation and intelligent technologies to further minimize product energy costs and use while offering warmth and comfort in their homes, including for consumers who need to be protected and not left behind in vulnerable situations. The energy sector has a direct obligation and a chance to get our customers, the UK, and the climate right. However, a stable energy industry is needed that can invest and evolve, that current developments threaten to disrupt, to deliver this future data-driven energy system.

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