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.
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.