The energy industry is, for the most part, a centralized commodity market. Because 80 to 85 percent of people without access to electricity live in rural areas far from the main infrastructure, they are under-served by this centralized energy model. Distributed power generation solutions using renewable sources of energy like solar and wind can alleviate the reliance on centralized utility infrastructure and coupled with real time price signals could motivate more efficient consumption, accelerating the return on investment and the speed of adoption of these type of energy solutions
Decentralized, flexible energy systems offer a promising alternative for independent and reliable access in remote places and can benefit from localized smart micro-grids and real-time marketplaces supported by technological advances and energy innovations including smart meters, internet connected devices (IoT), and the increasing integration of efficient and cost-effective renewable energy sources.
Distributed energy systems can also improve energy resilience in urban development. The integration of smart grids and digital platforms can optimize loads enhancing infrastructure resilience and enabling smarter urban growth patterns. Ultimately these systems have the potential not only to mitigate and potentially eradicate power outages, they also satisfy the growing energy needs of a prospering economy. Decentralized, flexible energy is a scalable, resilient and efficient solution applicable worldwide.
This reimagined approach to energy abundance furthers the power to choose where and how energy is generated, accessed and consumed. It also democratizes the tools to improve energy efficiency, empowering end-users with actionable insights extracted from underutilized data and previously available only for enterprise and industrial applications.
Finally, the proliferation of smart devices and the Internet of things (powered by data and behavioral science) can optimize and reduce energy consumption in day-to-day activities, making energy transformation and its attendant climate benefits completely within reach for this generation.