{"id":24275,"date":"2021-05-12T05:39:52","date_gmt":"2021-05-12T05:39:52","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/the-energy-ecosystem-should-move-to-make-the-energy-internet-a-reality.html"},"modified":"2021-05-12T05:39:52","modified_gmt":"2021-05-12T05:39:52","slug":"the-energy-ecosystem-should-move-to-make-the-energy-internet-a-reality","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/the-energy-ecosystem-should-move-to-make-the-energy-internet-a-reality.html","title":{"rendered":"The energy ecosystem should move to make the \u2018energy internet\u2019 a reality"},"content":{"rendered":"

As vice president of Innovation at National Grid Partners<\/a>, I\u2019m responsible for developing initiatives that not only benefit National Grid\u2019s current business but also have the potential to become stand-alone businesses. So I obviously have strong views about the future of the energy industry.<\/p>\n

But I don\u2019t have a crystal ball; no one does. To be a good steward of our innovation portfolio, my job isn\u2019t to guess what the right \u201cbasket\u201d is for our \u201ceggs.\u201d It\u2019s to optimally allocate our finite eggs across multiple baskets with the greatest collective upside.<\/p>\n

Put another way, global and regional trends make it clear that the Next Big Thing isn\u2019t any single thing at all. Instead, the future is about open innovation and integration of elements across the entire energy supply chain.<\/em> Only with such an open energy ecosystem can we adapt to the highly volatile \u2014 some might even say unpredictable \u2014 market conditions we face in the energy industry.<\/p>\n<\/p>\n

I like to think of this open, innovation-enabling approach as the \u201cenergy internet,\u201d and I believe it represents the most important opportunity in the energy sector today.<\/p>\n

The internet analogy<\/h2>\n

Here\u2019s why I find the concept of the energy internet helpful. Before the digital internet (a term I\u2019m using here to encompass all the hardware, software and standards that comprise it), we had multiple silos of technology such as mainframes, PCs, databases, desktop applications and private networks.<\/p>\n

As the digital internet evolved, however, the walls between these silos disappeared. You can now utilize any platform on the back end of your digital services, including mainframes, commodity server hardware and virtual machines in the cloud.<\/p>\n

You can transport digital payloads across networks that connect to any customer, supplier or partner on the planet with whatever combination of speed, security, capacity and cost you deem most appropriate. That payload can be data, sound or video, and your endpoint can be a desktop browser, smartphone, IoT sensor, security camera or retail kiosk.<\/p>\n

This mix-and-match internet created an open digital supply chain that has driven an epochal boom in online innovation. Entrepreneurs and inventors can focus on specific value propositions anywhere across that supply chain rather than having to continually reinvent the supply chain itself.<\/p>\n

The energy sector must move in the same direction. We need to be able to treat our various generation modalities like server platforms. We need our transmission grids to be as accessible as our data networks, and we need to be able to deliver energy to any consumption endpoint just as flexibly. We need to encourage innovation at those endpoints, too \u2014 just as the tech sector did.<\/p>\n

Just as the digital internet rewards innovation wherever it serves the market \u2014 whether you build a better app or design a cooler smartphone \u2014 so too will the energy internet offer greater opportunities across the energy supply chain.<\/p>\n

The 5D future<\/h2>\n

So what is the energy internet? As a foundation, let\u2019s start with a model that takes the existing industry talk of digitalization, decentralization and decarbonization a few steps further:<\/p>\n

Digitalization:<\/strong> Innovation depends on information about demand, supply, efficiency, trends and events. That data must be accurate, complete, timely and sharable. Digitalization efforts such as IoE, open energy, and what many refer to as the \u201csmart grid\u201d are instrumental because they ensure innovators have the insights they need to continuously improve the physics, logistics and economics of energy delivery.<\/p>\n

Decentralization:<\/strong> The internet changed the world in part because it took the power of computing out of a few centralized data centers and distributed it wherever it made sense. The energy internet will do likewise. Digitalization supports decentralization by letting assets be integrated into an open energy supply chain. But decentralization is much more than just the integration of existing assets \u2014 it\u2019s the proliferation of new assets wherever they\u2019re needed.<\/p>\n

Decarbonization:<\/strong> Decarbonization is, of course, the whole point of the exercise. We must move to greener supply chains built on decentralized infrastructure that leverage energy supply everywhere to meet energy demand anywhere. The market is demanding it and regulators are requiring it. The energy internet is therefore more than just an investment opportunity \u2014 it\u2019s an existential imperative.<\/p>\n

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How one founder realized the potential of sustainable energy stored deep below our feet<\/a><\/p>\n<\/blockquote>\n

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Democratization:<\/strong> Much of the innovation associated with the internet arose from the fact that, in addition to decentralizing technology physically, it also democratized technology demographically. Democratization is about putting power (literally, in this case) into the hands of the people. Vastly increasing the number of minds and hands tackling the energy industry\u2019s challenges will also accelerate innovation and enhance our ability to respond to market dynamics.<\/p>\n

Diversity:<\/strong> As I asserted above, no one has a crystal ball. So anyone investing in innovation at scale should diversify \u2014 not just to mitigate risk and optimize returns, but as an enablement<\/em> strategy. After all, if we truly believe the energy internet (or Grid 2.0, if you prefer that term) will require that all the elements of the energy supply chain work together, we must diversify our innovation initiatives across those elements to promote interoperability and integration.<\/p>\n

That\u2019s how the digital internet was built. Standards bodies played an important role, but those standards and their implementations were driven by industry players like Microsoft and Cisco \u2014 as well as top VCs \u2014 who ensured the ecosystem\u2019s success by driving integration across the supply chain.<\/p>\n

We must take the same approach with the energy internet. Those with the power and influence to do so must help ensure we aggressively advance integration across the energy supply chain as a whole, even as we improve the individual elements. To this end, National Grid last year kicked off a new industry group called the NextGrid Alliance<\/a>, which includes senior executives from more than 60 utilities across the world.<\/p>\n

Finally, we believe it\u2019s essential to diversify thinking within the energy ecosystem as well. National Grid has sounded alarms about the serious underrepresentation<\/a> of women in the energy industry and of female undergraduates in STEM programs. On the flip side, research by Deloitte<\/a> has found diverse teams are 20% more innovative. More than 60% of my own team at NGP are women, and that breadth of perspective has helped National Grid capture powerful insights<\/a> into companywide innovation efforts.<\/p>\n

More winning, less predicting<\/h2>\n

The concept of the energy internet isn\u2019t some abstract future ideal. We\u2019re already seeing specific examples of how it will transform the market:<\/p>\n

Green transnationalism:<\/strong> The energy internet is on its way to becoming as global as the digital internet. The U.K., for instance, is now receiving wind-generated power<\/a> from Norway and Denmark. This ability to leverage decentralized energy supply across borders will have significant benefits for national economies and create new opportunities for energy arbitrage.<\/p>\n

EV charging models:<\/strong> Pumping electricity isn\u2019t like pumping gas, nor should it be. With the right combination of innovation in smart metering and fast-charging end-point design, the energy internet will create new opportunities at office buildings, residential complexes and other places where cars plus convenience can equal cash.<\/p>\n

Disaster mitigation:<\/strong> Recent events in Texas have highlighted the negative consequences of not having an energy internet. Responsible utilities and government agencies must embrace digitization and interoperability to more effectively troubleshoot infrastructure and better safeguard communities.<\/p>\n

These are just a few of the myriad ways in which an open, any-to-any energy internet will promote innovation, stimulate competition and generate big wins. No one can predict exactly what those big wins will be, but there will surely be many, and they will accrue to the benefit of all.<\/p>\n

That\u2019s why even without a crystal ball, we should all commit ourselves to digitalization, decentralization, decarbonization, democratization and diversity. In so doing, we\u2019ll build the energy internet together, and enable a fair, affordable and clean energy future.<\/p>\n

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What\u2019s fueling hydrogen tech?<\/a><\/p>\n<\/blockquote>\n

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Article source: https:\/\/techcrunch.com\/2021\/05\/11\/the-energy-ecosystem-should-move-to-make-the-energy-internet-a-reality\/<\/p>","protected":false},"excerpt":{"rendered":"

As vice president of Innovation at National Grid Partners, I\u2019m responsible for developing initiatives that not only benefit National Grid\u2019s current business but also have the potential to become stand-alone <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[17],"tags":[23],"class_list":["post-24275","post","type-post","status-publish","format-standard","hentry","category-networking-and-communication","tag-network-and-communication"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t