Disruption generation, distribution and supply.With battery costs falling every

Disruption is the new status quo these days-
Quick Change along with IT and fast pace of scientific research is the new norm
Currently Power and Utilities sector is going through
a disruptive phase. The role of digitization, decentralization and zero carbon emissions
goals are going to change the energy retail markets all over the world.Renewable energy sector is finally breaking
free.renewable energy, and Smart Grid programs is
rapidly growing Green energy programs set the stage for new
power sector business models. With a supportive policy, long term vision
along with redefined technology, Costs shall come down.Energy storage (Batteries) is set to jump start
the clean energy transition while at the same time disrupting the traditional
business model.While the power and utilities sector has been
adapting the change in terms of new types of energy generation such as
renewables, the rapid spread of battery technology will be much harder to to
integrate into legacy business models.Current challenges faced in the power sector is
– Grid Balancing, supply and demand and Battery storage may be the key to
solving multiple challenges and also decarbonizing the electricity supply.Energy storage shall grow by leaps and bounds
over the next 5 years. The possibility presented by Electric vehicles have driven
enormous investment in battery technology as a result of which the cost has
declined dramatically. This has resulted in battery storage playing an
important role within power generation, distribution and supply.With battery costs falling every year we see
batteries being placed alongside renewables in grid , hence displacing expensive
small scale fossil fuels generation using diesel and fuel oilBatteries shall provide short-term supply or demand
to keep electricity grids in equilibrium hence resulting in investment savings
into developing distribution networks. It becomes economical to use batteries during
load shifting. During low prices , batteries can be used for charging and
during peak time where prices are high, batteries can offset the high prices by
providing energy to the gridStored solar or wind power can be used by
consumers and industrial users to meet with their respective demands in the evenings
and high usage times respectively thereby being independent and off the grid.The role in the market is going to shift
wherein consumers shall just not be consumers but shall also be playing a Centre
role in energy storage and giving back to the grid To succeed in this industry collaboration is
the key and all have to come together and work with each other in order to
succeed in the market.Large utilities with the help of smart meters
and Internet of things (IOT’s) shall have closer relationships with the
consumers thereby allowing them to diversify themselves and provide high value
added services.