Top 3 Trends in Electric Power Sector

This might be an unknown place to the electric power sector. However, today's trends have paved the way to determine the future of the power sector.


Without us even knowing, electric power sector is now under transformation. For many, it might be a huge change. However, one thing is constant in this world and that is change.

Analysts also came into a lot of theories how traditional electric utility must be upgraded. As a matter of fact a lot of research have told that one day the traditional electric utility must operate in a new energy future. This might be an unknown place to the electric power sector. However, today’s trends have paved the way to determine the future of the power sector.

Rising Natural Gas

Undoubtedly, the coal industries appear to be losing so much attention from the public. Data also have shown how it drawn retirement back in 1990s. Thus, this make way for the increasing number of gas plants.

In the near-term, coal’s loss appears to be natural gas’ gain. As market conditions and regulations push older coal generators into retirement, utilities looking to add reliable such as looking to gas plants. Unlike any other renewable sources of energy, its performance is incomparable. For utilities looking to ease integration of these resources and add base load capacity, this is something. It is a combined cycle gas plant offers a relatively quick and cheap solution that meets EPA rules on carbon and other pollutants.

Modernizing the Grid

Modernizing the grid in electric and power sectors entails investment. It is because grid modernization means more than just installing new lines but more than that, modernized grid must be handles in a two-way power flows. To be more specific, in the past all the power in the system flowed one-way only from the bulk power level down to customer. An article has also confirmed that, International Energy Agency estimated that the U.S. would need to spend $2.1 trillion by 2035 on grid technologies.

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Becoming Costumer-Centric

The best way to win the game is to win the customer’s heart. This is a goal that needs to be established among the electric power utilities. It may be a neglected one but rethink of ways on how you can actually strengthen your customer relationship. The increasing demand of grid in the market most specially at homes is enough reason to take this seriously.

Another thing, is the utilization of digital technology as it now direct to customers. Thus, different strategies came out lately. For example, many utilities are already offering mobile applications. In this way customers were able to track, visit, control energy usage, pay bills and many other more.

 

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Top 3 Trends in Electric Power Sector

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