Digital transformation in energy: a blueprint for success

Central to the conversation were shared worries around cost and affordability for the industry. As Neel Gulhar, Chief Product Officer at Kaluza, explained, ‘the journey to Net Zero, just on software platforms alone, has been $210 billion.’ This creates risks that the money won’t be used effectively, particularly because, as Neel points out, ‘a lot of this spend goes into software that was developed for a different age for a different set of problems.’    

Instead of spending money on systems that were developed to digitize paper processes, manage smart meters, or building data storage, the industry needs to be focused on today’s problems. For Neel, these are managing distributed energy resources, managing the grid for reliability, and delivering a better consumer experience. If the industry focuses on this, they will have the tools to prosper to the issues they are facing today.  

In Germany, as in many countries around the world, one of these issues is the tension between the green agenda and rising energy poverty. According to Annemarie de Jong, Head of Delivery at Vattenfall, the German government’s ambition to be Net Zero by 2045 is butting up against political realities and affordability concerns.  

‘Energy poverty and affordability are in the spotlight so support mechanisms are being reevaluated and that’s bringing some uncertainty to the market,’ said Annemarie de Jong, Head of Delivery at Vattenfall. 

On the other side of the globe, on Australia’s eastern seaboard, there’s also growing concern about affordability. With a high penetration of solar, nearly one-third of households ​deploy​ solar and batteries, energy retailers are seeking better ways to support these ‘prosumers’ with data-driven insights and products to help them better manage their bills and contribute to the energy transition.