We’re living in a time of unprecedented change.
Our snail mail has turned to email. We’ve traded our TVs and radios for Netflix and iTunes. Instead of going to the store down the street, we do our shopping online, and we can even pay with crypto instead of cash.
Q3 hedge fund letters, conference, scoops etc
Our world is transforming, and so is the energy industry.
The Changing Energy Industry
Today’s animation comes to us from California ISO, and it shows the challenges faced by the energy industry as they plan ahead for the energy needs of the future.
As the world grows more environmentally conscious, the energy sector faces new demands:
Environmental
Environmental concerns have brought clean energy systems to center stage, as we look for ways to reduce our dependence on greenhouse gases and preserve our planet for future generations. The push to eliminate fossil fuels and greenhouse gas emissions means we need to find ways to power coal-dependent sectors with renewable energy.
Technology
As new technologies emerge, they provide us with revolutionary ways to approach energy storage and efficiency, while bringing different types of renewable energies within our reach.
Decentralization
Energy grids have become less centralized over time, as grids move away from power plants in favor of distributed energy sources. Groupings of smaller energy sources are less vulnerable to failure, and provide reliable, cost effective energy options for consumers.
Economics
Economic demands push for competitive pricing and consumer rates, as they impact economic viability and promote healthy investment in the energy sector.
Politics
Renewable energy policies are progressing at the highest levels, as governments around the world set ambitious renewable energy goals for their nation.
Consumer Expectations
Consumers are no longer mere users of electricity, but informed producers. Through rooftop solar energy collection and the development of microgrids, consumers now have the option to gather energy reserves through their own clean energy systems and feed this back into the grid, making a positive impact on their communities.
With all these competing influences, the global energy industry now faces the challenge of creating a system capable of meeting the energy demands of our changing world.
Where to from here?
Planning for the energy needs of the future is no easy task. It’s a challenge to ensure reliable energy provision for consumers, leveraging emerging technology while hedging against disruptive factors like natural disasters which impact energy infrastructure.
There is no single solution, but a network of interconnected solutions working together can improve strengthen green energy provision as our world continues to evolve.
Article by Visual Capitalist
