To form a better future, the energy industry has to think above the conventional ways of providing energy and adopt a data-driven approach.
An appropriate mix of fossil fuels and renewable energy sources is essential for economic growth. Therefore, a sustainable future is often discussed in terms of rising the adoption of renewable energy and decreasing emissions. In the same way, the energy sector is going through a revolution led by the rising use of data and the requirement to decarbonize the economy. Therefore, smart meters are one of the best options.
Usually, smart meters are viewed as devices that save both energy and money. Nevertheless, smart meters give much bigger opportunities. Smart meters can allow a data-driven energy system, and when blended with electric vehicles and battery storage, they can alter the relationship between the customers and their energy usage. In addition, the data-driven energy system can help consumers identify where they can save money by the data produced by everyday appliances. This can result from more engaged customers and a data-driven and responsive industry.
Smart appliances are on the rise, offering customers greater control of their energy use. Moreover, a time-of-use tariff offers consumers the flexibility to use the instrument when power is cheaper. Today, energy providers utilize less coal, which amounts to 10% of the power needs. In 2019, the most force was generated from low-carbon sources such as wind, solar, and nuclear. In the future, the lack of decarbonization will pose more challenges as the power providers look to balance a system with rising levels of renewables. Moreover, a forecast says that at least ten million EVs will be on the road by 2030. Strong leadership is required from the government to tackle the challenges.
Energy providers have to make energy efficiency a national infrastructure program. They must also exploit innovation and smart technology to support consumers reduce their energy bills and usage while offering warmth and comfort in their homes. The energy sector can deliver remarkable services to its customers. However, a sustainable energy sector that can invest and innovate is required to ensure a future data-driven energy system. Data can support energy providers in making an efficient infrastructure and pave the way for future energy needs.
