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Companies face significant challenge in transition to carbon neutrality

March 27, 2024 11:55 am

Companies face significant challenge in transition to carbon neutrality

The firm addresses consumer relationships in light of emerging technologies like consumer-owned energy-producing devices like photovoltaic cells.

Oracle showcased its latest innovations at India Smart Utility Week 24. It aims to revolutionise power utilities and facilitate their transition to net-zero carbon emissions through advanced digital and sustainable solutions. Subrto Das spoke with EPR Magazine to give insight into the industry and the company.

How does Oracle collaborate in technology to benefit power utility companies aiming for energy transition?

Transitioning to carbon neutrality presents a significant challenge for companies, requiring a shift in mindset and operational paradigms. Previously, businesses followed a linear model, delivering goods from supply to consumer. However, achieving net zero demands a new approach that leverages human intelligence and data insights. This entails engaging consumers in solutions and embracing diverse engineering outcomes, such as flexible demand and alternative fuel sources. Yet, this shift necessitates a fundamental reengineering of networks and relationships with customers. Our role lies in mastering the intricate integration of these elements and navigating the complexities of transitioning towards sustainability while maintaining operational effectiveness and consumer engagement.

How does merging digital and sustainable methods in power utilities enhance maintenance efficiency and cost-effectiveness?

In navigating the evolving landscape of utility efficiency, we face the challenge of aligning longstanding processes with emerging demands. The dynamic interplay of shifting consumer expectations, new energy sources, and digital advancements necessitates a paradigm shift in work allocation, planning, and asset maintenance. Concepts such as digital twins and collaborative field crews spanning internal expertise and external resources reflect innovation’s imperative. Yet, as we enhance our processes, we must anticipate future hurdles. This demands a proactive engineering of innovation, integrating advanced technologies like artificial intelligence (AI) to augment human decision-making. AI-driven solutions enable us to forecast and mitigate risks, optimise grid performance, and swiftly respond to anomalies or crises, including severe weather events. Harnessing AI empowers us to transcend human limitations within the constraints of a 24-hour day, unlocking the computational prowess needed to navigate complexities effectively. By embracing these additional energies and recalibrating our approach, we can fortify utility operations for the challenges of tomorrow’s energy landscape.

What strategies do you apply to overcome the challenges and issues catering to the power utilities sector?

Today, the primary strategy revolves around leveraging vast utility data to extract value. By synthesising information from various sources like sensors, meters, and customer interactions, we tailor services to meet evolving energy needs. This entails not only optimising energy usage but also facilitating maintenance and management. As the landscape continues to evolve, adaptable processes are crucial. Moreover, fostering relationships within and beyond the organisation, including with non-traditional energy stakeholders, is imperative. Intelligent decision-making, grounded in business risk and future adaptability, is paramount. The focus is on utilising insights to design strategies that meet current demands and anticipate and accommodate future shifts.

How can utility companies effectively manage consumer relationships in the face of increasing adoption of energy-producing devices like rooftop solar panels?

Utility companies face novel challenges, particularly in navigating consumer relationships amid the proliferation of energy-producing devices like rooftop solar panels. Our primary focus lies in assisting utility companies with two critical aspects. Firstly, we are addressing consumer relationships in light of emerging technologies like consumer-owned energy-producing devices like photovoltaic cells. We aim to cultivate synergistic relationships with consumers to optimise energy utilisation and balance demand. Secondly, we are deeply involved in managing these devices, ensuring effective communication, understanding their capacity, and orchestrating their contribution to the energy mix. This includes facilitating demand response events and effectively managing distributed energy resources. Our solutions in demand response and distributed energy resource management are pivotal in this endeavour.

Spokesperson: Matthew Gleeson Vice President, Energy Transition and Water Conservation, Oracle Energy and Water

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