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Green Energy Tech

 

Digital Transformation Potential in Green Energy Tech

The Green Energy Tech sector is subject to a confluence of dynamics, each driving significant change. On the one hand, the design approach for electricity grids must evolve from a historical focus on ensuring that power generation matches power consumption to an approach that aims to make demand track supply fluctuations so that renewable energy sources can be efficiently integrated into the grid. Meanwhile, end-user demand for electricity is increasing due to the adoption of electric vehicles and trends away from burning hydrocarbons to provide heat. In this context, digital transformation of energy systems is a critical need.

Eight key domains of change in Green Energy Tech

Overall, we have identified eight key domains of change in the Green Energy Tech sector that are enabled by digital transformation, as illustrated below.

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These domains of change are discussed in more detail in our report Digital Transformation in Green Energy Tech:

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The domains of change discussed in the report comprise:

  • Smart Electricity Meters refer to devices that measure and record electricity usage in near real-time, providing accurate data for efficient energy management.
  • Smart Grids defined as all aspects of grid operations using technology (except smart metering – as it is separately considered), more specifically it includes management of generation (power grids) and transmission & distribution (T&D) networks.
  • Microgeneration covers small-scale power generation (typically through wind turbines and solar panels) by businesses, communities, and individuals instead of using traditional grid-sourced power.
  • Energy Storage refers to the use of technologies that facilitate monitoring and tracking of energy storage devices including batteries contained in household devices to grid-scale energy storage, and the integration of these into grid operations.
  • Electric Vehicle Charging refers to the use of technology to enable EV power consumption and potentially for EVs to become energy storage options.
  • Microgrids and Virtual Power Plants refers to the use of technologies that control and manage campus microgrids (and virtual power plants) to optimise their performance and enhance resilience and stability.
  • Digital Design and Planning includes the use of digital twins for modelling, forecasting, and testing to achieve optimal performance of grids.
  • Energy Trading refers to the use of technology (particularly Distributed Ledger, or blockchain, and Artificial Intelligence) to facilitate energy trading, especially peer-to-peer (P2P) trading that allows consumers (businesses, individuals, communities) and operators to buy and sell electricity to each other.

Collectively, the activities listed above will bring significant changes to the Green Energy Tech sector.

IoT and Green Energy Tech

IoT is one of the key technology groups impacting the Green Energy Tech sector and further detail and analysis of key IoT applications for the Green Energy Tech sector can be found in Transforma Insight’s Forecast Insight Reports. Some of these applications are directly relevant to the sector, whilst others are only indirectly related.

Directly related IoT applications and Forecast Insight Reports include:

  • Connected Batteries – This Application Group includes non-automotive batteries of all sizes and use cases equipped with connectivity, from batteries contained in household devices to grid-scale energy storage. A connection typically allows for the remote monitoring of remaining capacity, temperature, and performance. Portable batteries may make use of location tracking. In some cases, the onboard connection can be used to communicate with smart meters and other grid infrastructure to enable features such as load balancing. This Application Group includes both disposable and rechargeable batteries.
  • Electric Vehicle Charging – Public electric vehicle charging points with a connection to monitor availability, usage, maintenance requirements, and facilitate payment. Does not include vehicle chargers installed on private property.
  • Grid Operations – The remote monitoring of the gas, water, sewage and electricity grids for maintenance, diagnostics, fault discovery and loss reduction purposes. High pressure gas distribution pipelines are counted as part of the Infrastructure Monitoring Application Group.
  • Gas Smart Meters – Device that records the consumption of natural gas at a location and transmits this usage data to providers. In some instances these devices will transmit usage data to users in order to encourage more energy efficient behaviour. This application includes smart meters in both residential and commercial settings.
  • Electricity Smart Meters – Device that records the consumption and, where relevant, generation of electricity at a location and transmits this usage data to providers. In some instances these devices will transmit usage data to users in order to encourage more energy efficient behaviour. This application includes smart meters in both residential and commercial settings.
  • Generation – Remote monitoring and actuation of machinery within a power plant. Covers the operation of thermal power plants in addition to alternative sources, such as solar arrays, wind turbines, barrages, and hydro-electric dams.This Application Group also includes micro-generation power sources, such as might be installed in domestic or campus-industrial contexts. Specific applications include smart and connected solar, wind, ground source, and cogeneration installations.

Indirectly related IoT applications and Forecast Insight Reports include:

  • Road Public Transport – Connections to buses, specifically related to their role as public transport vehicles, such as the provision of on-board connectivity. Covers urban and inter-city vehicles including private hire coaches and school buses. Excludes infrastructure such as bus stations.
  • Building Lighting – Monitoring and control of interior and exterior building lighting. Includes lightbulbs, light fittings and controls.
  • Building Automation – Including controllers and peripheral devices (monitoring devices, controlled devices, or actuators) to support smart building functionality in either a consumer or enterprise (cross vertical) context. This Application Group does not include security alarms, fire control systems, or lighting systems.

Other content and related analysis

Besides the detailed sector-focussed content described above, Transforma Insights offers an extensive range of thematic- and vendor-focussed research that will prove invaluable to any end-user seeking to leverage new and emerging digitally transformative technologies.

Of particular note are our Vendor Insight and CSP Peer Benchmarking reports, which provide detailed profiles of leading vendors who might be able to support a range of end-user digital transformation projects.

Our Key Topic Insight reports focus on the qualitative aspects of Digital Transformation, including investigation of interesting or noteworthy topics.

Detailed analysis of regulations that might apply to digitally transformative projects around the world can be found in our Regulatory Database. Meanwhile, our Case Study Database contains more than 1,000 case studies of technology implementations. Each case study contains detailed information on the specifics of the deployment. Used in aggregate it can provide unrivalled guidance on project prioritisation, best practice and vendor selection.

Sector Focus

Sector Report

Digital Transformation in Green Energy Tech

REPORT | FEB 23, 2024 | Suruchi Dhingra
This report examines digital transformation in the Green Energy Tech area as enabled by the key technology groups that are the focus of Transforma Insights’ research, including Artificial Intelligence, Distributed Ledger and Internet of Things. It identifies 8 key 'Domains of Change' in the energy sector, each of which is examined in detail.

Related Reports

All Reports

Connected Batteries: 183 million battery devices driven by falling costs and growth in renewable energy

REPORT | OCT 23, 2023 | Nikita Singh ; Matt Arnott
This report summarises the Transforma Insights view on the ‘Connected Batteries’ IoT market found in the Transforma Insights Connected Things IoT forecast. The report covers details on the evolution of battery technology, beginning with traditional batteries with no communication technologies, up to current batteries with built-in connectivity. It covers different sizes of batteries, from large, grid scale batteries to small portable batteries. Mostly concentrated in developed regions such as North America and Europe, the market for batteries is typically triggered by the local electricity utility provider in the case of grid and microgrid, and consumers in the case of in-building and portable batteries. The report also describes the reasons for the increasing adoption of batteries such as increasing usage and cost of electricity, focus on renewable energy sources, as well as the war between Russia and Ukraine, and the resulting impact on natural gas use in European countries. The report provides a detailed definition of the sector, analysis of market development and profiles of the key vendors in the space. It also provides a summary of the current status of adoption and Transforma Insights’ ten-year forecasts for the market. The forecasts include analysis of the number of IoT connections by geography, the technologies used (including splits by 2G, 3G, 4G, 5G, LPWA, short range, satellite and others), as well as the revenue split between module, value-added connectivity and services. A full set of forecast data, including country-level forecasts, sector break-downs and public/private network splits, is available through the IoT Forecast tool.

Electric Vehicle Charging: 192 million connections by 2030, generating USD4.8 billion in revenue

REPORT | OCT 12, 2022 | Rohan Bansal ; Matt Arnott
This report summarises the status and forecasts from the Electric Vehicle Charging Application Group found in the Transforma Insights Connected Things IoT forecast. The report provides a description of what is covered in the Application Group, the current status and future plans for EV charging infrastructure, as well as top-level figures from the forecast that provide detail on how many connected devices will be installed, the types of communication technology used and the total revenue opportunity. Full details are accessible through the TAM Forecast tool.

Grid Operations: 91 million connected devices by 2030 across electricity, gas and water

REPORT | AUG 17, 2022 | Nikita Singh ; Matt Arnott
This report provides Transforma Insights’ view on the use of IoT in the management and operation of smart grids. This comprises electricity, gas, water and sewerage infrastructure.

Gas Smart Meters: Government mandates, incentives and communication technologies drive adoption to over 450 million connections

REPORT | JUL 21, 2022 | Nikita Singh ; Matt Arnott
This report summarises the Transforma Insights view on the Gas Smart Meter IoT market found in the Transforma Insights Connected Things TAM forecast.

Electricity Smart Meters: government sustainability initiatives will drive 2.2 billion connections in 2030

REPORT | JUL 12, 2022 | Nikita Singh ; Matt Arnott
This report provides Transforma Insights’ view on the Electricity Smart Meter IoT market found in the Transforma Insights Connected Things TAM forecast. The transition from traditional electricity meters to smart meters is one of the biggest IoT initiatives worldwide. By 2030 there will be 2.2 billion electricity smart meters deployed.

Generation: Mature Power Generation contrasts with high growth micro-generation opportunities

REPORT | AUG 12, 2021 | Matt Arnott
This report summarises the status and forecasts from the Generation Application Group found in the Transforma Insights Connected Things IoT forecast. The report provides a description of what is covered in the Application Group, as well as top-level figures from the forecast that provide detail on how many connected devices will be installed, the types of communication technology used and the total revenue opportunity. Full details are accessible through the TAM Forecast tool.

Digital Transformation Implementation Best Practice Report

REPORT | APR 15, 2020 | Jim Morrish ; Matt Hatton
This report is based on analysis by Transforma Insights of hundreds of Digital Transformation implementations around the world. Our team of expert analysts assessed each implementation and calibrated it against our 216 solution characteristics. The aim is to better understand the prevailing trends in technology deployment and to extrapolate best practice.
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