Energy providers have always needed to be agile and innovative, and they have consistently looked to technology solutions to assist balance energy supply and demand while decreasing costs.
Fremont, CA: In 2021, multiple utilities were targeted by high-profile ransomware attacks, causing severe concerns about critical infrastructure protection that drew the attention of federal lawmakers. Simultaneously, the industry faced concerns about grid dependability while responding to the rising demand for renewable energy sources. To remain competitive, energy providers need to be agile and innovative, and they are consistently looking for technology solutions to assist balance energy supply and demand while decreasing costs and improving cybersecurity.
While there are numerous technological solutions available to assist these firms in achieving their digital objectives, a handful of the solutions stand to have a stronger influence in 2022. Let’s have a look at some of the technology trends to watch in the energy and utilities sector.
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Usage of 5G Will Grow in the Energy Industry
The energy and utilities industries will continue to modernise the electric grid in order to make it more dependable and less expensive. Utility companies rely on millions of linked devices, such as smart metres and sensors, to share data from diverse places, and 5G can help boost the stability and security of these connections. Aside from increased connectivity, 5G technology will make it easier for energy producers to integrate renewable energy sources into the grid. It will also allow for increased use of smart metres on portable devices, which will benefit both providers and consumers.
AI Will Continue to Drive Innovation
Energy companies have already started to apply AI for effective operations in anticipating energy needs, managing resources, and storing energy efficiently. In the future, it will be a valuable tool in transitioning to an energy system that employs more renewable sources of energy. AI and machine learning can be used to properly estimate energy pricing and demand, as well as to optimise energy consumption. Government energy corporations are banking on these technologies to speed up research into long-term energy storage.
AI will also be a vital tool in balancing the multiple sources of electricity that contribute to the grid, allowing for much faster and more efficient forecasting and power distribution to customers.