Energy providers are already implementing new business models, partnerships, and capabilities to decarbonize the energy system and meet increasingly ambitious targets and commitments. But so are new market entrants, from automakers to oil majors, who are all eager to tap into the electrify-everything (and cleanly) movement.
While many utilities have successfully greened their portfolios, making onshore wind and solar the most competitive form of energy in many markets, driving renewable levelized cost of energy (LCOE) to record levels; zero-emissions targets remain elusive. More action is needed—and urgently—to incorporate both decarbonized and decentralized sources of power onto the grid.
Progressive utilities are adopting a new power model that’s decarbonized, decentralized, digitized, putting people at the heart of their strategy.