“It’s time for us no longer to simply be practical, but pioneering,” Optimum Energy President and CEO Bert Valdman told executives gathered for the 2016 Deloitte Energy Conference.
Valdman joined Jon Jung, president and CEO of Greensmith Energy Management Systems in a session that covered why emerging business models are uniquely qualified to provide the new technologies energy customers need. They underscored the importance of cooperation in harnessing the technology to operate our electric system using less energy while maintaining reliability, growth and profitability.
Points made during the session:
- The electrical grid is perhaps one of the only asset-intensive industries that still has an average asset utilization ratio of under 50 percent.
- Grid inefficiencies are largely an IT problem: the software that runs the grid today isn’t contemporary, isn’t distributed, and it doesn’t gather the information needed to better balance load and manage congestion.
- Energy storage solutions and smart technologies ideally need to complement the existing grid, making the legacy equipment and the electricity generated from both renewables and fossil fuels more useful and more valuable.
- There is greater promise for those in energy who develop systemic, customer-oriented solutions; and there is greater peril for those who invest in one-off fixes and focus on assets, not on customers.
- Transforming our energy system will require a coalition of established players and new entrants that draws upon the best of both.
- Contemporary software is key; it’s “the inner beauty” of many solutions today.
A conference synopsis in PDF is available on the Deloitte website.