Ten billion people – that’s the global population projected by 2050. Some experts say this boom will more than double the demand for electricity, natural gas and water – especially as mass transit and vehicles continue to steer towards electric energy. One thing is clear – the digital economy needs (and consumers demand!), clean, dependable and affordable electricity.
This should be a great outlook for power generators, distributors and retailers, but decarbonization, deregulation and decentralization are disrupting the century-old utilities hierarchy. We see a “Digital Energy Network” emerging that reflects new structure of power generation, transmission, distribution and retail. It will foster new business models and processes, and transform work in a competitive and collaborative digital economy.
The consequences are dramatic. Proven utilities business models based on trillions of dollars’ worth of plants and grids collapse. New market entrants, such as Google and Tesla, disrupt the value chain. Rapid technical and social innovation puts new capital investments at risk. Consumers, communities and companies go “off the grid” with new wind, solar and storage technology.
“Reimaging” the utilities business will shape the Digital Energy Network that overlays and complements the power supply system. All participants – utilities, consumers and new non-utilities players – will use digital innovation to anticipate real-time demand and supply, operate self-healing grids and innovate the customer experience.
To learn more about how SAP and other industry leaders envision the exciting future of the industry, please download the following complimentary Digital Utilities Whitepaper. Plus, join the 2016 SAP for Utilities conference as we focus on reimagining the industry. Solutions and expertise on how to drive success with new technology and digital innovations will be presented by your peers from all industry segments.