The digital transformation of energy is impacting every sector of the energy industry. In particular, the rapid adoption of virtual energy devices like smart meters and digital signs has accelerated the process of upgrading old infrastructure to new standards. The main challenges the energy sector faces are increasing oil and gas consumption, climate change and development finance. However, effective action on these challenges can play out in complex feedback loops rather than through one-size-fits-all solutions. We’ve outlined a few of our country’s most innovative devsecops 30m investments in energy solutions at a glance. Read on to know more about them.
Checkpoint 1: Oil and Gas Development Fundamentals
While the oil and gas industry has vast benefits from the implementation of smart technology, the sector is also experiencing difficulties in addressing the demands of climate change and other growth challenges. In order to reduce carbon emissions and develop a more efficient energy mix, leading Oil & Gas companies are investing billions of dollars into advanced technologies. The amount of new investment has grown at a compound annual rate of 7% during the period from 2011 to 2017, driven by a demand for more energy due to increasing energy bills and a desire to reduce carbon emissions.
Checkpoint 2: Smart Grid Implementation
In order to reduce carbon emissions and improve energy efficiency, the energy sector is investing heavily into smart grids. Both fixed and mobile, these systems monitor and manage power grids around the world and automatically shut down or adjust power grids to balance demand and supply when needed. Deployment of such systems has also become more widespread due to increasing awareness of climate change and the increasing demand for reliable power.
Checkpoint 3: Climate Change Adaptation
The increase in the number of people living in climate-impacted regions is a significant challenge for energy supply systems. Increasingly frequent weather events, particularly droughts and heavy rains, have made these areas at risk of endemism. This has had a negative impact on energy supply systems and the ability of local people to produce energy. Adaptation to these changes has been made difficult by the lack of energy resources and the increasing complexity of adapting to new environmental challenges.
Checkpoint 4: Financial Framework Development
The increase in the number of people living in climate-impacted regions has challenged most energy suppliers. Globally, 2.5 billion people now live in regions that experience precipitation less than 90% of the national mean. In addition, 1/3 of these people do not have access to electricity at all. As such, they are reliant on traditional forms of energy – especially wood and fossil fuels – to make their heating and cooling requirements known.
Conclusion
The digital transformation of energy is impacting every sector of the energy industry. In particular, the rapid adoption of virtual energy devices such as smart meters and digital signs has accelerated the process of upgrading old infrastructure to new standards. The main challenges the energy sector faces are increasing oil and gas consumption, climate change and development finance. However, effective action on these challenges can play out in complex feedback loops rather than through one-size-fits-all solutions. We’ve outlined a few of our country’s most innovative devsecops 30m investments in energy solutions at a glance. Read on to know more about them.
