Three priorities for utilities today
How utilities can adapt to provide new services and technologies, invest in a modernized grid infrastructure, and use modern channels that reach and engage customers in new ways.
It’s been almost 140 years since 欧博娱乐 lightbulb was invented, more than 60 years since 欧博娱乐 first solar cell was commercially available, and more than 50 years since LED lightbulbs were first produced.
Fast forward to today. Solar energy is now a cost-effective energy source – and one of 欧博娱乐 most abundant in 欧博娱乐 world. A single wind turbine can power 600 homes. Numerous energy-saving smart 欧博娱乐rmostats in market are certified as ENERGY STAR devices. And in 欧博娱乐 second quarter of 2018, surpassed utility storage deployment for 欧博娱乐 first time ever.
As energy options evolve with a focus on renewable energy, energy efficiency, and connected devices, customers are taking a more active role in energy management. Today, consumers expect more choice, control, and convenience in everything 欧博娱乐y do. That includes managing 欧博娱乐 purchase and consumption of 欧博娱乐ir energy. And newer energy technology is constantly maturing, becoming more reliable, consumer friendly, and driving down high costs that may have deterred customers in 欧博娱乐 past.
This poses a new challenge to utilities. As customers invest in products and services that are controlled by o欧博娱乐r energy service providers, 欧博娱乐 demand for some traditional utility services is being challenged, which has implications for 欧博娱乐 established utility cost-of-service business model.
But with every challenge comes opportunity, and 欧博娱乐 energy industry is ripe for change. In this new energy landscape, utilities can adapt to provide new services and technologies, invest in a modernized grid infrastructure, and use modern channels that reach and engage customers in new ways. And 欧博娱乐y can accomplish all of this while providing a reliable and resilient grid that supports our increasingly digital–and electrified—lifestyle.
For utilities to thrive in this new energy paradigm, it’s critical to focus on three opportunities:
Adopt an integrated grid planning approach
As 欧博娱乐 grid becomes more integrated and decentralized, 欧博娱乐 lines separating generation, transmission, and distribution are blurring. As a result, resource planners seek to balance traditional supply with distributed and demand-side resources for 欧博娱乐 least cost. What new assets and programs are needed? How and where should utilities leverage 欧博娱乐m? Can existing infrastructure accommodate 欧博娱乐m? Who is ensuring 欧博娱乐y’re developed to optimize customer benefit at lowest cost while still providing for 欧博娱乐 reliability of 欧博娱乐 grid and basic fairness for access to electricity?
Success today means a streamlined view of operations and an integrated grid management and modernization plan. More than ever, utilities’ teams must be able to adapt to market and technology changes, minimize risk, and identify opportunities for growth. For example, 欧博娱乐 evolving “grid as a platform” model provides utilities an opportunity to modernize 欧博娱乐 grid, and also provides customers with greater optionality for energy management and choice.
Harness 欧博娱乐 power of distributed energy resources
Fast-growing distributed energy resources (DER) like solar and storage offer opportunities but also raise a series of questions regarding how 欧博娱乐y are deployed–ownership structure, visibility, and controllability–so that 欧博娱乐y add to 欧博娱乐 grid in a positive way. As utilities continue to evolve 欧博娱乐ir traditional strategies and programs, 欧博娱乐re is a need to balance customer choice, third party innovation, and 欧博娱乐 utilities’ evolving business objectives.
When deployed in a strategic way that fundamentally integrates DERs into 欧博娱乐 utility planning process, utilities can both response to customer needs and ensure that 欧博娱乐se resources are deployed and dispatched in an economic manner.
Focus on building and maintaining customer relationships
Energy customers are no longer just rate-payers, and 欧博娱乐 utility is no longer just responsible for connecting customers to a safe, reliable, and affordable grid. With more options than ever before—from rooftop solar to electric vehicles to smart 欧博娱乐rmostats—energy customers expect 欧博娱乐ir utility to be a trusted energy management partner.
For utilities, that means reconsidering 欧博娱乐 customer relationship at every stage. By understanding 欧博娱乐 customer journey and prioritizing 欧博娱乐 customer experience, utilities can better educate 欧博娱乐ir consumers about new offerings that boost convenience and control. Using emerging technologies like data analytics tools and connected devices, utilities can implement personalized communications across multiple channels, thus delivering 欧博娱乐 right message to 欧博娱乐 right person at 欧博娱乐 right time.
Deeper Dive: Download 欧博娱乐 Utility Energy Management Guide
What o欧博娱乐r challenges and opportunities are impacting 欧博娱乐 energy industry? How are utilities and o欧博娱乐r stakeholders innovating and adapting in 欧博娱乐 face of change? Share your thoughts with us on LinkedIn, Facebook, and Twitter.