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The Impact of Digitalization

In: The Palgrave Handbook of International Energy Economics

Author

Listed:
  • Stephen Woodhouse

    (AFRY Management Consulting)

  • Mostyn Brown

    (AFRY Management Consulting)

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.

Suggested Citation

  • Stephen Woodhouse & Mostyn Brown, 2022. "The Impact of Digitalization," Springer Books, in: Manfred Hafner & Giacomo Luciani (ed.), The Palgrave Handbook of International Energy Economics, chapter 0, pages 613-627, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-86884-0_30
    DOI: 10.1007/978-3-030-86884-0_30
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