The energy landscape is experiencing a paramount shift. Millions of IoT and smart devices are being connected to the network, the energy balance is changing from centralized to decentralized, and customers are becoming increasingly involved in daily operations. Utilities are faced with an uphill battle, trying to integrate advanced analytics, but having to deal with tremendously inaccurate data, integrating new technologies but dealing with the issues of cyber attacks and security, building resilience but not knowing where the problems are going to come from.
It is crucial that a utility understands the problems facing it on a local level. Each utility’s landscape is unique; be it the system, the people, the geography or regulations. Effective planning and analyzing the range of possibilities to advance is the first step in achieving not just grid modernization, but the right type of modernization.
Technology exists to solve human problems. As we enter a smart-grid era, data analytics, Artificial Intelligence, big data, IoT and connected devices all have a part to play. Figuring out which are best for your utility will help save costs, build resilience, open new revenue streams and ensure reliable power to your customers.