North American utilities should be mindful of future competition
A new report from Navigant
Research shows Energy Cloud investments made by global utilities now
exceed those in the traditional utility value chain.
As utility investments shift from traditional large-scale generation
toward distributed renewables, energy services, or software to manage
distributed energy resources (DER) in the Energy Cloud, there is an
increasing pressure on the industry to innovate. Click
to tweet: According to a new report from @NavigantRSRCH,
European utilities lead the charge in Energy Cloud investments in 2016
and 2017.
“Energy Cloud investments are exceeding in the traditional value chain,
with much of the activity being driven by utilities headquartered in
Europe,” says Stuart Ravens, principal research analyst with Navigant.
“With increased investments related to new technologies and DER, the
pressure to innovate is a strategic imperative for utilities to succeed
in the future.”
According to the report, to prepare for Navigant’s vision of the Energy
Cloud illustrated
in a recent whitepaper, utilities, stakeholders, and vendors must
innovate technologically. In addition, North American utilities should
plan to compete with Europe and others and steer away from known
obstacles in the innovation process.
This Navigant Research report, Implementing
Innovation Strategies for Utilities, examines utility investment
activity, with a focus on preparing for a competitive future. The study
compares the number of Energy Cloud and traditional investments made by
utilities and examines why Energy Cloud investments now exceed those in
the traditional utility value chain. It also provides detailed
recommendations on how the utility industry can create an environment in
which innovation can thrive. An Executive Summary of the report is
available for free download on the Navigant
Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.
* The information contained in this press release concerning the
report, Implementing Innovation Strategies for Utilities, is a
summary and reflects Navigant Research’s current expectations based on
market data and trend analysis. Market predictions and expectations are
inherently uncertain and actual results may differ materially from those
contained in this press release or the report. Please refer to the full
report for a complete understanding of the assumptions underlying the
report’s conclusions and the methodologies used to create the report.
Neither Navigant Research nor Navigant undertakes any obligation to
update any of the information contained in this press release or the
report.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180731005120/en/
Copyright Business Wire 2018
Source: Business Wire
(July 31, 2018 - 5:15 AM EDT)
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