Invenergy has a long track record of betting on winners: in 2002, the company realized the potential power of wind energy, and today Invenergy is the largest independent, privately-held renewable energy provider in North America. But their commitment to renewable energy innovation and its future trends continues. Amy Francetic and John Tough, both from the Invenergy Future Fund, explained in GE Reports why digital technologies are a win for industry watchers.
First let’s define the idea of the “energy application layer”—it’s how energy infrastructure is integrating software and digital solutions across their network and assets to create a new future for renewable energy. Not only does this accelerate digital innovation in 2017 and beyond, it creates a stronger economy with more renewable energy jobs. Last year, more than a quarter million new jobs were added to the solar, wind, and energy efficiency industries. Great news for job seekers—and consumers, since that also helps the cost of renewables go down.
And speaking of affordability—renewable technologies in 2017 are cheaper than nuclear and coal, and on par with combined-cycle natural gas. And with the lowered costs of digital equipment—sensors, CPUs, and data storage technologies, just to name a few—the industry will continue to incorporate the latest digital innovations into its plans for the future.
According to a prediction on the trend of renewable energy innovation from a global perspective, Francetic and Tough stated the idea that: “New business models will emerge — blending software and services. Companies will thrive in three primary business solution areas: Data analytics and cybersecurity, Operational efficiency and Controls for distributed energy and storage. The industry leaders and savvy investors who embrace this coming wave of energy innovation will reap the rewards.”
Learn more about GE Renewable Energy’s approach to digital innovations in renewable energy.
Courtesy GE Renewable Energy