The grid setup is also evolving. The grid refers to a network of transmission lines, substations, transformers and more that deliver electricity from the power plant to your home and business. What’s changing is that the infrastructure on which energy transmits itself from generation to consumption is becoming an intersection, rather than a one lane highway. We are helping utility companies manage that new energy flow in more than two directions. In this context, generation, consumption, and storage are all important. Storage in, for example, electric cars can help solve one of the biggest problems in the world: as we shift to renewables, critics often cite the fact that technologies like wind and solar only produce energy when the wind is blowing or the sun is shining. In order to effectively utilize renewable energy storage is the key solution.
Last but not least, more than 30% of the world's energy is consumed by buildings. Most buildings are below five stories and, unless they’re big complexes like a hotel, don’t have any automation technology. We see a huge opportunity here to optimize energy management, efficiency and consumption.