Megatrends in the Electrical Power Industry [video]

Abstract

Electric utilities across the country are going through a period of massive change. You see it in every corner of the industry. It is, as Lisa Wood, vice president at the Edison Foundation, said, “a profound but quiet transformation.” This interactive presentation will focus on three megatrends that are leading this change within the electric Power Industry. These megatrends are, Decentralization, Digitization, and Efficient Electrification. Decentralization: The industry is faced with a challenge that is positively influencing our future. Customers have specific needs and these needs are pushing companies toward providing more and more individualized services. Customers want responsive technology, and they can get it almost anywhere. Digitization: The electric power industry is investing over $20 billion annually in the distribution grid. Utilities are moving to a more intelligent grid through a digital communications overlay that increases the ability to control the grid and move it closer to being “self-healing.” Efficient Electrification: The energy industry is investing in a transition from coal to natural gas and constantly looking into other energy efficient solutions due to both demand and regulation.bEach of these megatrends will be covered in detail along with a discussion of technologies that are being used and some of the drivers for that technology. This will be an interactive session so please come with lots of questions and thoughts on the subject.