6 Game-Changing Technologies for Energy Leaders should Know

As the world has faced the COVID-19 pandemic, the sudden need for additional efforts to convert businesses to an online working environment influences the continually evolving technology.

Innovative new business, health and consumer technologies are emerging every day; however, it takes time for the optimal technology to be recognized and applied. The so-called duck-curve, which represents the significant problems with renewable energy – especially solar energy, is being solved using these technologies.

Therefore, the Energy Leaders should be familiar with the technologies that are currently most impressive and are being implemented with a high level of success. These technologies would be:

  1. Blockchains 

Blockchain has first appeared within the digital currencies; however, it has spread significantly in other fields. It enables transparency and security required for the vast energy networks. The blockchain allows for real-time coordination of energy supply and demand data that improves energy efficiency. Blockchain-based solutions are used to accurately monitor and control energy performance in real-time, ultimately increasing supply-side efficiency. Therefore, reducing the overgeneration of energy in the times it is not needed.

  1. Artificial Intelligence 

Artificial Intelligence (AI) with the increased digitalization and decentralization of energy grids helps the management of grid participants and keep the grid in balance. Artificial Intelligence helps in evaluating and analyzing a flood of data. AI can process this data as quickly and efficiently as possible, therefore creating so called smart-grids and e-mobility.

  1. Virtual Reality 

The management and planning of energy systems as well as their regular maintenance and improvement now requires visualizing the systems in order for the managers to be able to understand the actual impacts of the measures proposed on the system as a whole.

Coordination between a multitude of services within the sector is no longer viable through the sheer contact, as the people participating in the system need to apprehend the system as a whole and understand their part within the system, therefore enabling the people a ‘walk-through’ the system in virtual environment.

  1. Unified Communications 

A growing number of organizations in the energy sector is migrating to UCaaS (Unified Communications as a Service), also known as hosted PBX, instead of investing time and energy into maintaining an on-premise PBX. The UCaaS is expected to support both mergers and acquisitions and focus on core competencies within the industries as the companies tend to go from one business strategy to another.

  1. Cloud Computing 

The energy sector has approached cloud computing in a measured and cautious way. Cloud computing enables industries to manage integrated access to global data anytime and allow real-time collaboration. Consumer and customer-facing abilities of cloud computing would allow companies to respond rapidly to consumer/customer demands and preserve customer loyalty while enhancing the quality of service at a lower cost than the traditional systems.

  1. Quantum Computing 

The need to develop highly efficient energy management systems that can support smart grids has arisen rapidly. Quantum computing for solving complex computational problems, such as managing a smart energy grid in a fraction of the time required by classical computing, is becoming the mainstay within the energy industry. The important thing for the companies to remember before jumping into quantum computing is to remember the problem related to qubits’ inability to maintain their state, which makes scaling quantum computing difficult. Therefore, adequate planning of quantum computing implementation can save companies significant amounts of money.

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