Future of Energy
In the future, the energy industry will need to focus on three major areas: alternative sources, storage, and efficiency in distribution.
Smart grid infrastructure uses digital technology through advanced metering infrastructure, distribution grid management, and high voltage transmission systems, as well as demand response for the intelligent and integrated transmission and distribution of power. More than 9,000 generating plants and about 300,000 miles of transmission lines will be built in the United States alone.
As the world turns toward alternative energy sources, Solar PV power generation capacity is set to increase five-fold by 2020.
The contribution of shale gas to the total gas production supply in the United States is likely to increase by nearly 50% in 2035, backed by government support and parallel investment in fracking and drilling technologies.
Energy Management Systems:
The future of energy management is expected to drive a multiple convergence of technologies, markets, competition, and business models, resulting in greater operating efficiency in storage and distribution.