5 April, 2018
The power sector is on the cusp of transformation. The combination of the rise of cost-effective renewable energy, the decentralization of energy production, and improvements in energy storage, smart metering and other digital technology have the potential to revolutionize the way power is generated and consumed.
Industry incumbents will need to reshape their businesses to seize the opportunities and to meet the challenges. The opportunities include energy storage; smart cities and buildings; data monetization and new ways of buying and selling power, all of which are blurring the lines between utilities and technology companies. We refer to these trends collectively as “smart power”.
The Smart Power Revolution: Opportunities and Challenges, a report by Baker McKenzie in collaboration with Clean Energy Pipeline, surveyed senior executives from corporates, developers, investors, banks and service providers worldwide.
Key Findings
- Investment in smart power is rising, with the majority of energy companies investing in smart power to create new business lines and other types of businesses investing for cost stability and savings and to meet green aspirations.
- Of all the types of smart power initiatives, energy storage tops the list.
- Smart buildings and smart cities are gathering pace but face hurdles to scale.
- Energy data monetization is hindered in part by privacy and data usage restrictions.
- The divide between utilities and technology companies will likely blur with the rise of the “tech-utility”.
- Unfit and outdated regulatory regimes are hurdles to smart power advancement.
Please click here for the full report.
For further information, please contact:
Anne-Marie Allgrove, Partner, Baker & McKenzie
anne-marie.allgrove@bakermckenzie.com
