Content of Figures
- Figure 1 Technology Trends in Utilities and Energy Industries
- Figure 2 The Changing Ecosystem
- Figure 3 Drivers Affecting Business Models in the Energy and Utilities Sector
- Figure 4 Comparison of AI Use Cases Based on Profit Orientation, Internal/External Orientation, and Maturity
- Figure 5 Data Inputs for an AI-Based Energy Consumption Analytics Use Case
- Figure 6 Data Inputs for an AI-Based Inspections and Maintenance Use Case
- Figure 7 Data Inputs for AI-Enhanced Digital Twin Use Case
- Figure 8 Data Inputs for AI-Based Predictive Analytics in Edge Devices Use Case
- Figure 9 Data Inputs for AI-Based Document Management
- Figure 10 Data Inputs for an AI-Based Chatbot Use Case
- Figure 11 Comparison of Blockchain Use Cases Based on Profit Orientation, Internal/External Orientation, and Maturity
- Figure 12 Process Improvements in Utilities Billing with Blockchain
- Figure 13 Process Changes to Microgrid Coordination with Blockchain
- Figure 14 Process Improvements to Purchasing Renewable Energy Certificates with Blockchain
- Figure 15 Process Improvements in Energy Provision to Underserved Markets with Blockchain
- Figure 16 Process Improvements for Dynamic Energy Pricing with Blockchain
- Figure 17 Comparison of IoT Use Cases Based on Profit-Orientation, Internal/External Orientation, and Maturity
- Figure 18 Examples of Smart Devices for Utilities System Maintenance
- Figure 19 Examples of Smart Devices in Decentralized Grid Management
- Figure 20 Smart Functions of Advanced Metering Devices
- Figure 21 Role of AI, Blockchain, and IoT in Delivering Digital Identity Use Cases
- Figure 22 IDoT Management and Emerging Technologies
- Figure 23 Decentralized Identity and Emerging Technologies
- Figure 24 Risk-Adaptive Multifactor Authentication and Emerging Technologies
1 Executive Summary
Utilities and energy companies are still relatively early on the path to digitization. Company structure for this industry has typically favored stabi ...
There are many potential use cases for emerging technologies in this sector, but only a few stand out as being sufficiently stable for potential adopt ...Login Free 30-day Select Access Get full Access
- Future energy and utility trends will likely be digitalization, decentralization, and migration to a prosumer model
- Most utilities and energy com ...
3 Competitive Landscape
The utilities and energy sector is under pressure from public sentiment, perceptions of sustainability, and the expectation to consistently deliver un ...
To reflect the heightened sensitivity to consumption and resource sustainability, future energy systems will likely prioritize shifting to a more dece ...Login Free 30-day Select Access Get full Access
3.1 The Energy Prosumer
The future of the earth under increasingly extreme climate pressures is becoming a top concern of private citizens as well as regional and national go ...Login Free 30-day Select Access Get full Access
3.2 IoT-Based Efficiency Services
The rise of IoT devices means a new age of efficiency, for utilities companies and their customers. Industrial IoT provides new insight into operation ...Login Free 30-day Select Access Get full Access
3.3 Smart Cities
In some ways, the smart city is the ultimate achievement for and of decentralized technologies like IoT-based efficiency services and smart grids. A c ...Login Free 30-day Select Access Get full Access
3.4 Identity Verifier for Decentralized Identity
Decentralized Identity is a philosophical concept that allows the user to be the sole owner of their own personal data and reveal data to other partie ...Login Free 30-day Select Access Get full Access
4 AI in Utilities & Energy
Artificial Intelligence allows companies to automate repetitive tasks and leverage mathematical analysis. AI in the utilities and energy sector includ ...Login Free 30-day Select Access Get full Access
4.1 AI Use Case Suitability
This comparison matrix identifies several AI use cases for the utilities and energy sector. A strong AI use case leverages the availability of histori ...Login Free 30-day Select Access Get full Access
4.2 AI Use Cases
Energy Consumption Analytics
Renewable energies like wind and solar are variable, dependent on meteorological influences. The variable supply creates ...
Grids supported by vRES experience regular drops in power generation, for example at night when no solar energy is collected. This is incongruent with ...
AI-Enhanced Digital Twins
Digital twin technology creates a virtual twin of a real-world object for its entire lifecycle, including mechanical design ...
Digital twins produce simulated data and stream real-time data, making them a natural input source for AI models.
Digital twins produce simulate ...
For example, electric vehicles can provide stabilizing energy to a renewable energy grid. When an electric vehicle is at a charging station but not in ...
One of the closest AI enabled customer interfaces is with chatbots. Using NLP, chatbots can answer customer questions on demand, recommend p ...
4.3 Implications of AI Deployment
AI deployment in this sector has the potential for significant improvements in efficiency. The accuracy of forecasts, coordination of edge devices for ...Login Free 30-day Select Access Get full Access
5 Blockchain in Utilities & Energy
Blockchain has potential to improve transaction speed and reliability as well as energy grid coordination for the utilities sector. Applicable use cas ...Login Free 30-day Select Access Get full Access
5.1 Blockchain Use Case Suitability
There are several use cases that incorporate blockchain into the utilities sector. These take advantage of blockchain’s strengths: its decentralized ...Login Free 30-day Select Access Get full Access
5.2 Blockchain Use Cases
Energy billing can benefit from blockchain solutions when supported by IoT smart meters. Current methods for billing often require meters to ...
Blockchain-supported billing solutions depend on the adoption of smart meters. This would be a costly investment either borne by the customer or by th ...
An emerging solution is to connect microgrids via the blockchain. A blockchain solution capitalizes on its immutable ledger functions to receive data ...
Energy Provision to Underserved Markets
Energy grids have consistently been inadequate in serving rural and undeveloped areas. Extending a national g ...
Blockchain-based marketplaces also can facilitate microtransactions between peers which enable local energy production and trading for areas that are ...Login Free 30-day Select Access Get full Access
5.3 Implications of Blockchain Deployment
For the energy and utilities sector, blockchain provides solutions to very specific problems which often are solved with other existing technologies. ...Login Free 30-day Select Access Get full Access
6 IoT in Utilities & Energy
IoT in the utilities sector is essential for most AI and blockchain solutions. IoT use cases include inspections and maintenance of systems, decentral ...Login Free 30-day Select Access Get full Access
6.1 IoT Use Case Suitability
Measuring the suitability of IoT use cases in the utilities sector depends on several factors: the real-world objects such as machinery, meters, etc. ...Login Free 30-day Select Access Get full Access
6.2 IoT Use Cases
Inspections and Maintenance
Smart infrastructure management for utilities providers yields insight to machinery operations, maintenance, and lifecycl ...
Smart infrastructure is a key component in multiple digital transformation topics in utilities:
- Connecting operational technology and information ...
Smart weather stations are critical to managing many renewable energy sources due to the obvious effects that cloud cover or weather patterns have on ...
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Timestamped energy usage allows for accurate billing that incentivizes energy consumption when demand is low, while charging a premium during peak d ...
6.3 Implications of IoT Deployment
Implementation of IoT devices and sensors has already impacted the energy and utilities sector. Industrial implications are for significant cost savin ...Login Free 30-day Select Access Get full Access
7 Digital Identity in Utilities & Energy
The increased use of IoT devices requires robust, secure, and standard identity management for these devices. Managing the identity of things (IDoT) i ...Login Free 30-day Select Access Get full Access
7.1 Role of Emerging Technologies in Delivering Digital Identity
Of the emerging technologies, IoT is the main driver for implementing digital identity. IoT devices are consumers of identity services, meaning that e ...Login Free 30-day Select Access Get full Access
7.2 Digital Identity Use Cases
Identity of Things (IDoT) management is necessary for the digital transformation of the energy sector, and enables the convergence of OT and IT. Gener ...
Decentralized Identity a philosophical concept that allows the user to be the sole owner of their own personal data and reveal data to organizations o ...
Risk-adaptive multifactor authentication (MFA) is now a security standard, which has stimulated a rise in AI-based MFA options. However, MFA does not ...Login Free 30-day Select Access Get full Access
7.3 Implications of Digital Identity in the Energy and Utilities Sector
Digital identity as it relates to IoT devices is crucial to the digital transformation of this sector. Developing a robust, secure, and standard metho ...Login Free 30-day Select Access Get full Access
8 Recommendations and Conclusions
Emerging technologies have a lot to offer the energy and utilities sector. However, they are not the only means to matching new industry trends of dec ...Login Free 30-day Select Access Get full Access
9 Related Research
Advisory Note: Emerging Technologies Fostering Digital Business Innovation: Finance Industry – 80264
Buyer’s Compass: Decentralized Identity – 80050
Advisory Note: Demystifying the Blockchain: What Makes a Blockchain Useful to a Firm? – 80301
Leadership Compass: Privileged Access Management - 79014