The power industry has been undergoing its greatest transformation in nearly 200 years, and in 2017 I believe that the transformation will accelerate. Many factors are driving the change, such as increasing demand for renewables alongside lower costs, ever-expanding capital needed to maintain ageing infrastructure and new ultra-efficient power-generation technologies.
This transformation will force the power industry to develop new approaches we haven’t seen before. Whether it’s distributed generation in island nations, microgrids in the Himalayas or more flexible and efficient central generation, the power outlook for the coming year is all about modernizing infrastructure in one way or another. What we’ve seen in 2016 is that one common thread links everything together: digitization.
These are the five trends expected to transform the world of energy and electricity in 2017: