The crucial role Innovation must play in the Energy System Story
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- Feb 23, 2021 11:15 am GMTFeb 22, 2021 1:52 pm GMT
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Innovation is vital to the energy system’s integration and operation design, and we need to further recognize its crucial role. I believe we undertake a radical transformation in the way we supply, transform, and use energy. This requires a profound transformation in technologies, systems, and infrastructure.
Innovation is made up of many enabling technologies that support energy. This complexity requires innovative approaches to be built in highly systematic ways. Its ultimate result is to offer innovation that can continually look for re-imagining new market designs and business models to stimulate the changes and solutions for our future energy transformation.
Innovation needs to be transformational, offer greater value than what it is replacing, show the real advantage, set out to achieve competitive gains and offer a higher level of sustainability, value and impact. We need to give innovation a large share of any design voice. Getting new innovation solutions out into the market gives fresh value and market growth opportunity. Find a design that is unique or well advanced on the existing solutions can be dramatic to the future fortunes of that company. Innovation needs greater attention within the Energy Transition. We all need stronger narratives.
Let's step back here and give innovation the recognition and the air it needs to lift up its positioning.
We need an innovating mantra for energy.
Energy is a vital part of any country’s ability to be competitive. Today half the world’s capital is invested in energy and its related infrastructure as it is the backbone of any industrial and urbanization strategy.
Our need is to keep pushing for discoveries, for experimentation, for demonstrating. We must nurture innovation, and we must continuously look for ways to facilitate its pathway.
Our economic prosperity will be determined by transforming the energy sector, and it is through innovation we will achieve this. To avoid the predicted consequences of climate change, the global energy system must rapidly reduce its emissions.
The vast majority of global CO2 emissions come from the energy production sector, from our buildings or transportation systems. They all need a purposeful design of a new, cleaner energy system.
Innovation needs to be at the top of its game, to be accelerated and scaled.
The energy transition that the world is undertaking is one of the most critical areas where innovation needs to be at its absolute best, top of the game, to make the level of change necessary. We need to deploy every innovative tool to leverage ideas and discoveries and then accelerate the validation into a commercialization path sooner than later.
Innovation needs to get out of the laboratories, moved from theory to application, and off the desk of those executives who fail to see the urgency of change we need to achieve the energy transition.
Innovation has risk always associated with it, but that imperative to push the boundaries does need always to be constantly in our minds; global warming, pollution, and resource finite are our “burning platform.”
We need to ramp up our need for solutions to reduce greenhouse gases, redesign energy generation, transmission, and distribution and bring a balance back into our environments.
Pushing our present understanding, looking beyond the knowns, we need to group and articulate our innovation stories.
- Today the solutions are centered on decarbonization, applying digitalization, and switching to an energy system that is more decentralized than at present. It is finding imaginative, innovating solutions that become essential to achieve this climate change through the energy transition we are undertaking.
- Each organization within the energy transition looks at its own position and applies any changes to advance its competitive position. Quite rightly, but in focusing on one specific perspective, you can lose the bigger opportunity.
- We need to extend the reach of electricity; we need to focus on Hydrogen, validate carbon capture and storage (CCUS) as well as bioenergy and take them out of the lab, out of the realms of theory and validate the innovation concepts into scalable ones that deliver the gaps we have in our energy transition.
- We must find innovative solutions to reduce local air pollution, strengthen energy security, and develop a more significant energy system that is resilient to minimize the shutdowns and power outs. We need to find solutions to reliable and sustainable energy solutions that deal with heating, lighting, cooking, and cooling. Any change needs to find a way to create local economic value and jobs, as others in any change of this magnitude will be displaced.
- As we search for enabling technologies, we need to constantly facilitate the integration of renewable energy, accelerate storage, explore sector coupling, introduce new ways to operate within the electricity system, seek out new power generation, design the grids for increased flexibility and digitalize solutions to provide further services, tools and distributed generation deployment knowing how to diffuse innovation in these general five approaches becomes valuable.
- We need to continue to de-carbonize challenging industry sectors like steel, pharmaceuticals, chemicals, or our transportation systems if we wish to achieve any positive outlook of curbing carbon emissions and moving onto a pathway towards a zero-carbon future.
Innovation and showing progression give market confidence and encouragement that the innovation story is designed to take decisions through this innovation adoption approach.
Everything we are looking at in energy solutions faces a scalability challenge.
How are we addressing scalability specifically? We need to articulate this, so market understanding has a clarification. The innovation story will be to show how the ability to harness the existing with the new is shaping up, offering a sustaining value, and this is the role of innovation to deliver the changes by being the bridge and being the catalyst of change with new technology and innovative solutions and giving that encouragement to the story teller..
Innovation adoption in the technology lifecycle for Energy Translation
Technological innovation has a central role to play in the Energy Transition currently being undertaken throughout the world. The shifts need to take the different parts of the energy system through a lifecycle approach to any future energy system needs a well structure system that can be used as the process, for all to understand and relate too.
The six critical focal points of the energy transition can shape the opening story to build solutions that deliver on these.
The six main thrusts for technological innovation within the Energy Systems for today’s energy transition are:
- To accelerate the deployment of renewable energy technologies throughout the system.
- There is a real need to find innovative solutions that focus on the end-user sectors of transport, industry, and buildings.
- The technological and digital innovative solution needs to focus on the overall system design and the operation needs.
- Innovation needs to increase electrification through emerging solutions on the grids’ digitalisation and provide grid-scale energy storage for resolving variable renewable power and building out further energy storage.
- To push, nurture, and facilitate different energy sources to provide solutions to scale them up. These include solar power, geothermal, biopower, hydropower, onshore and offshore wind and finally tidal power.
- Lastly, innovation needs to achieve an affordably decarbonize industrial transition.
Many new innovation solutions need to continually unlock the system’s flexibility.
Besides technological innovation, there is growing potential for redesigning operational systems through new services, tools, and distributed generation deployment. There are opportunities to find fresh market designs that have demand-response models central to then provide new, more tailored services and then the exciting potential of designing new business models that look to greater co-creation, more flexible power purchase agreements and bring the consumer into the system as contributors, aggregators and highly energy aware.
We do not focus enough on telling the innovating energy story. We often announce, accept, move on. That is wrong!
Innovation must be at the forefront of the energy change; otherwise, we will fail to deliver on the 2050 commitments and goals, and that will have consequences for our very existence as we know it.
We must focus on laying out my business story on where innovation is making real contribition. Getting across the further message that there is a robust system for accelerating innovation within the energy system in the pipeline raises attention.
Sometimes having the external perspective, an innovation specialist supporting the story can help in setting out the innovation journey and help pain the innovation landscape. To have a well-designed narrative focusing on mapping out the future of energy and where they fit to support, compliment, and provide different value points to some "broad themes" of work is highly valuable.
Weaving the innovation story provides identification and refinement
We all need to recognize that telling the innovation story weaves so much into the work being undertaken. It can complement the insights, it can help feed into were the expertise lies and its future potential, opens up future collaboration opportunities that can build even further different points of value.
Describing, telling and illustrating the innovation story brings individual initiatives into a more cohesive whole It opens up understanding to a greater potential, investors value.