Oracle Utilities: The Future of Energy
The Future of Energy
An Independent Report for Oracle Utilities
Demand for energy continues to rise unabated. Yet it does so against huge challenges: the long-term environmental sustainability of fossil fuels, vulnerabilities in the energy supply chain and volatility in energy markets. Left unchecked, these could have serious social, economic and environmental impacts worldwide. An energy revolution to rival the roll-out of electrification in the 20th Century is required.
The scale of the energy challenge means action must be taken now to secure our future energy needs in a sustainable fashion. The solution lies in the decarbonisation of our industry and society. To achieve this we need to develop Smart Grids capable of integrating clean technologies – such as wind and solar energy – and also be able to efficiently align power supply and demand. By 2050 the energy landscape will be transformed into a two-way power infrastructure where embedded intelligence enables real time coordination and dynamic decision making. Intermittent renewable energy and storage will be ubiquitous, consumerisation of smart energy will be part of our daily lives and clean electricity will power our cars, residences and economies in a reliable and affordable way.
This report highlights the issues that must be addressed over the next four decades and the trends that will combine to make the smart grid and smart energy a reality. It also emphasises the commercial investment, consumer engagement and political leadership that will be essential if the carbon emissions targets of 2050 are to be met. Our study also draws attention to technological advances such as electric vehicles that will act as a vital catalyst for change in moving towards this futureof smart energy.
Also, check out the upcoming event by Oracle on: Trends and Challenges in Smart Metering & Smart Grid
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