An equal number of survey respondents (48%) identified difficulty making a business case, immature technologies and supplier inexperience, and a lack of understanding of the implications as the top barriers to digital grid adoption.
Fifty-six percent of respondents agree that non-traditional utility entrants will completely transform the sector. These new competitors – from telecommunication and technology companies to energy aggregators and energy service companies – are investing in offerings that have the potential to erode traditional utilities’ returns on digital grid investment. This includes connected home products, home energy management solutions and off-grid solutions among other products. The report highlights innovative approaches undertaken by utilities to manage disruption from new entrants, including developing a virtual power plant based on battery storage, promoting a “bring your own battery” business model and testing blockchain for electric vehicle charging