The crucial role Innovation must play in the Energy system

 

Innovation is vital to the energy system’s integration and operation design, and we need to further recognize its crucial role. I believe we undertake a radical transformation in the way we supply, transform, and use energy. This requires a profound transformation in technologies, systems, and infrastructure.

Innovation is made up of many enabling technologies that support energy. This complexity requires innovative approaches to be built in highly systematic ways. Its ultimate result is to offer innovation that can continually look for re-imagining new market designs and business models to stimulate the changes and solutions for our future energy transformation.

Innovation needs to be transformational, offer greater value than what it is replacing, show the real advantage, set out to achieve competitive gains and offer a higher level of sustainability, value and impact.

We need an innovating mantra for energy.

Energy is a vital part of any country’s ability to be competitive. Today half the world’s capital is invested in energy and its related infrastructure as it is the backbone of any industrial and urbanization strategy.

Our need is to keep pushing for discoveries, for experimentation, for demonstrating. We must nurture innovation, and we must continuously look for ways to facilitate its pathway.

Our economic prosperity will be determined by transforming the energy sector, and it is through innovation we will achieve this. To avoid the predicted consequences of climate change, the global energy system must rapidly reduce its emissions.

The vast majority of global CO2 emissions come from the energy production sector, from our buildings or transportation systems. They all need a purposeful design of a new, cleaner energy system.

Innovation needs to be at the top of its game, to be accelerated and scaled.

The energy transition that the world is undertaking is one of the most critical areas where innovation needs to be at its absolute best, top of the game, to make the level of change necessary. We need to deploy every innovative tool to leverage ideas and discoveries and then accelerate the validation into a commercialization path sooner than later.

Innovation needs to get out of the laboratories, moved from theory to application, and off the desk of those executives who fail to see the urgency of change we need to achieve the energy transition.

Innovation has risk always associated with it, but that imperative to push the boundaries does need always to be constantly in our minds; global warming, pollution, and resource finite are our “burning platform.”

We need to ramp up our need for solutions to reduce greenhouse gases, redesign energy generation, transmission, and distribution and bring a balance back into our environments.

Pushing our present understanding, looking beyond the knowns

  • Today the solutions are centred on decarbonization, applying digitalization, and switching to an energy system that is more decentralized than at present. It is finding imaginative, innovating solutions that become essential to achieve this climate change through the energy transition we are undertaking.
  • Each organization within the energy transition looks at its own position and applies any changes to advance its competitive position. Quite rightly, but in focusing on one specific perspective, you can lose the bigger opportunity.
  • We need to extend the reach of electricity; we need to focus on Hydrogen, validate carbon capture and storage (CCUS) as well as bioenergy and take them out of the lab, out of the realms of theory and validate the innovation concepts into scalable ones that deliver the gaps we have in our energy transition.
  • We must find innovative solutions to reduce local air pollution, strengthen energy security, and develop a more significant energy system that is resilient to minimize the shutdowns and power outs. We need to find solutions to reliable and sustainable energy solutions that deal with heating, lighting, cooking, and cooling. Any change needs to find a way to create local economic value and jobs, as others in any change of this magnitude will be displaced.
  • As we search for enabling technologies, we need to constantly facilitate the integration of renewable energy, accelerate storage, explore sector coupling, introduce new ways to operate within the electricity system, seek out new power generation, design the grids for increased flexibility and digitalize solutions to provide further services, tools and distributed generation deployment knowing how to diffuse innovation in these general five approaches becomes valuable.
  • We need to continue to de-carbonize challenging industry sectors like steel, pharmaceuticals, chemicals, or our transportation systems if we wish to achieve any positive outlook of curbing carbon emissions and moving onto a pathway towards a zero-carbon future.

Innovation and showing progression give market confidence and encouragement that the innovation story is designed to take decisions through this innovation adoption approach.

Everything we are looking at in energy solutions faces a scalability challenge. 

It will be the ability to harness the existing with the new, and this is the role of innovation to deliver the changes by being the bridge and being the catalyst of change with new technology and innovative solutions.

Innovation adoption in the technology lifecycle for Energy Translation

Technological innovation has a central role to play in the Energy Transition currently being undertaken throughout the world. The shifts need to take the different parts of the energy system through a lifecycle approach to any future energy system.

The six critical focal points of the energy transition.

The six main thrusts for technological innovation within the Energy Systems for today’s energy transition are:

  1.  To accelerate the deployment of renewable energy technologies throughout the system.
  2. There is a real need to find innovative solutions that focus on the end-user sectors of transport, industry, and buildings.
  3. The technological and digital innovative solution needs to focus on the overall system design and the operation needs.
  4. Innovation needs to increase electrification through emerging solutions on the grids’ digitalisation and provide grid-scale energy storage for resolving variable renewable power and building out further energy storage.
  5. To push, nurture, and facilitate different energy sources to provide solutions to scale them up. These include solar power, geothermal, biopower, hydropower, onshore and offshore wind and finally tidal power.
  6. Lastly, innovation needs to achieve an affordably decarbonize industrial transition.

Many new innovation solutions need to continually unlock the system’s flexibility.

Besides technological innovation, there is growing potential for redesigning operational systems through new services, tools, and distributed generation deployment. There are opportunities to find fresh market designs that have demand-response models central to then provide new, more tailored services and then the exciting potential of designing new business models that look to greater co-creation, more flexible power purchase agreements and bring the consumer into the system as contributors, aggregators and highly energy aware.

My focus is on innovating energy.

Innovation must be at the forefront of the energy change; otherwise, we will fail to deliver on the 2050 commitments and goals, and that will have consequences for our very existence as we know it.

Besides writing about innovation and energy on two dedicated blogs of innovating4energy.com and digital4energy, I recently launched a complimentary website of innovating4energy.website, one that is laying out my business positioning and offerings to help in accelerating innovation within the energy system. That “open for business” sign.

I set out to offer the external perspective to those busy inside organizations focusing on mapping out the future of energy and where they fit to support, compliment, and provide different value points to this thinking and eventual work. I see this as more advisory to complement their insights, more feeding into and complimenting their expertise with different points of value.

Why innovate Energy?

Why innovate energy?

The front end of energy means what exactly?

It is the place I feel I can make the best contribution, a place where innovation thrives and drives discovery to commercialization of a new idea that emerges as a concept of value, often replacing something that does not “serve today’s or tomorrow’s purpose, where the energy transition must embrace fully “

My aim here is : “To achieve better, faster and more valuable future solutions with a focus on sustainability, to anticipate constant change and build different more exciting and valuable business models for lasting impact”

We provide a range of services that support your energy transition at the front of the change process.

I have three sources of energy reference that is building the Energy Story, as I am seeing it. I encourage you to take a look….please Continue reading “Why innovate Energy?”

Are we seeing the Apple of Hydrogen in Plug Power?

This Monday, January 11th, 2021 Plug Power (PLUG) closed at $53.97 in the latest share trading session, it has gained 98% over the past month. Today with a fresh expansion announcement it is standing at $64.02 at this moment of time. Clearly, Plug Power is outpacing the Industrial Sector. It belongs as one of the alternative energy company stocks that focuses on green hydrogen, the present ultimate answer to as close as you can get to a zero-carbon fuel.

So what is going on? What is causing this incredible jump and market sentiment?

To add a little more to this “what is going on” let me do something else.

Why do I compare Plug Power to Apple in past years? It is simply how its stock has rapidly accelerated away in the past year or perhaps the growing expectation of sizable growth to come, on new products and market penetration. 

A year ago, Plug Power struggled to raise money, but it has been executing on a plan consistently in the past few years that is beginning to pay off. Continue reading “Are we seeing the Apple of Hydrogen in Plug Power?”

Restating my energy purpose for delivering in 2021

Reflecting back, moving forward. As we begin 2021, we all have had even more time to reflect on “that year” of 2020. For me, that was my “Energy Transition” year.

I really value these reflective periods. They allow you to simply “recalibrate” so you can at least start the new year off on a more purposeful set of objectives, those strategic stakes in the ground. Of course, you can argue these can simply end up as new year resolutions, often broken in the first few weeks, but hopefully, these objectives stay anchored into the ground as a firm intent, they become the foundation to build out from. Well, that’s my intent.

When I reflect back on the 2020 year, I have recognised the needs to make a significant energy change. As I posted my critical top six energy developments in 2020 in this recent post “Energy Progress- the best of 2020 leads to a great 2021″ it triggered a deeper evaluation to lead out to 2021.

The key to 2021, in my opinion, will be a real breakthrough year of innovation, based on technology invention.

“2020 advanced the commitment to the shift from fossil fuel to renewables that has real momentum in the coming years. 2021 will be the breakthrough year where the energy transition has the unstoppable forces happening.”

We are all wanting to look forward, to a different, a more engaged world in 2021. Continue reading “Restating my energy purpose for delivering in 2021”

The many challenges facing the electricity industry.

Our landscapes seem never to change, power transmission lines spread out across the land as far as the eye can see delivering our electricity. Nothing seems to change, but nothing actually is as far from the truth.

The electricity industry is waging a sweeping transformation and in a recent report by Black & Veatch providing the present position of the state of Electricity called Strategic Directions: Electric Report, where they have gathered 600 power utility stakeholders to offer the challenges and opportunities that are occurring in the transformation being undertaken.

The challenges and opportunities are all caught up in a constantly shifting, complex ecosystem of everything, from conventional power generation to the renewable energies sources derived from the wind and sun and the significant changes underway in the use of putting in place microgrid systems.

I want to briefly summarize this report, one I would certainly recommend spending time in reading. Continue reading “The many challenges facing the electricity industry.”

Building the Internet of Energy

Getting to the point of the digitalization of Energy in a holistic way, not piecemeal as in the past is going to take a massive mindset shift within the energy industry. We need a dedicated internet of energy that brings energy together in ecosystem designs and platform delivery.

There are so many pressures to invest fresh capital to replace existing aging infrastructure, to adapt energy sources increasingly to accommodate renewables, and to build out the resilience within the energy system, adding new storage options and reduce the variabilities and demand fluctuations.  

You can go on and on in need to invest in a very challenging, changing environment for energy. Layering-in digitalization on top just adds to the need for change, we need to fully integrate it as a core necessity.

Having a greater insight and understanding of the management of energy is going to prove crucial in the future and “going digital” provides the essential energy transformation we need, being connected up.

I certainly feel we are on the cusp of a new digital era in energy. Digital technology has been involved in the energy system for decades but its time is now to be central to any new energy management system. We need to manage not just individual assets but manage the ‘connected’ energy system from the supply, through transmission into demand.

Digitalizing the energy system can provide much of the understanding of where, when, and what to invest in and validate the why in the relevant data supporting. We need a clear line-of-sight and data needs to deliver transparency and insights to all involved in managing or providing and consuming energy. Continue reading “Building the Internet of Energy”