Innovation Branches Out for the Roaring Twenties
- Jan 22, 2021 5:01 am GMT
This item is part of the Special Issue - 2021-01 - State of the Industry, click here for more
The new decade dawned with a pandemic, severe global recession, and social unrest continuing into 2021. Despite this grim backdrop, 2021 will mark the beginning of an unprecedented era of innovation in the electric utility industry. This year utilities will increasingly recognize the value of – and need for – innovation, and “branch out” their innovation investments as a result. Utilities will look outside their own four walls to partner with the best innovators and, in the process, form unexpected and productive partnerships.
Three, related forces will accelerate to incent this branching out: Technology change, utility needs, and the customer. Let’s briefly look at each of them.
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