The Impact of Digitalization

Stephen Woodhouse () and Mostyn Brown
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Stephen Woodhouse: AFRY Management Consulting
Mostyn Brown: AFRY Management Consulting

Chapter Chapter 30 in The Palgrave Handbook of International Energy Economics, 2022, pp 613-627 from Springer

Abstract: Abstract Previous energy transformations have been driven by the exploitation of a new energy resource. In contrast, although the digitalization of energy is delivering cost reductions in the supply and transportation of energy; digitalization is truly transformational because it brings the demand side into play, facilitating the move to a more integrated, highly flexible and customer-centric energy system which will ultimately unlock deep decarbonization of our societies. This fertile new energy landscape will be dominated by data-rich organizations able to establish direct relationships with consumers, resulting in the provision of new services which enable the integration of energy consumption with weather-dependent renewable production. Much of the focus is on the intelligent management of demand and supply from connected buildings and electric vehicles, leading to a proliferation of new business models. This increased connectivity comes with risks: increased danger of cybersecurity attacks and disruption of existing business relationships, staffing and organizational structures and a re-positioning of the role of the customer at the heart of the system. This commercial disruption is inherent to the digital transformation of the energy sector: an essential step in the transition to a carbon-neutral global economy.

Keywords: Digitalization; Innovation; Disruption; Distributed ledger technologies; New business model; Net-zero (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/978-3-030-86884-0_30

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