The energy ecosystem is transforming rapidly as the world prepares for the net-zero economy envisioned for 2050. The utilities sector will need to innovate faster and develop digital business models to comply with stringent regulations, compete with renewable energy players, and meet the rising expectations of prosumers. However, achieving clean energy goals and harnessing the power of renewable energy resources will not be easy. Challenges include building adaptive transmission and distribution grids, optimizing generation capacity of renewable energy infrastructure, and integrating traditional and renewable energy in the grid. Utility providers must leverage cloud-based solutions, IoT, and machine learning technologies to understand energy behaviors of prosumers and align with variable energy demands. As the energy ecosystem continues to evolve, utility providers must ramp up their capabilities to progress beyond the net-zero targets.
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