An Industry in Transition: Our Takeaways from Enlit Europe 2024

With more than 15,000 energy experts under one roof, Enlit Europe was a hive of innovation this year, covering the latest in power generation, transition, and digitalisation.??

Our energy and resources team was on-site in Milan, Italy, for the three-day event, where our Global Energy, Resources, and Incubator Lead, Matt Neal, held a popular session on core modernisation and opportunities for software differentiation.?

Since returning home, we’ve been reflecting on some of this year’s key takeaways. Discover insights from each of our experts below.?

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Decentralisation is unlocking opportunity?

A key theme of Enlit this year was the decentralisation and democratisation of energy generation. More consumers are producing their own energy with home batteries and solar panels. This offers greater flexibility and resilience for businesses while also empowering individuals.??

We can liken this in some ways to the transformation of the music industry – platforms such as Spotify and Napster shifted power away from record labels, giving artists more control over production and distribution. During this shift, businesses that adapted quickly and embraced the change were able to benefit; the same will be true across the energy sector.?

It was encouraging to meet with leaders who are eager to seize the opportunities that come with energy democratisation. However, to do so, organisations must be equipped with modern, robust systems that can leverage the latest technologies, making modernisation a crucial first step. Without doing so, they risk falling behind in an increasingly innovative and competitive market.??

- Matt Neal , Global Energy, Resources and Incubator Lead, Endava?

Digital twins and data are energising the industry?

It was exciting to see how many energy and resources organisations are interested in the potential of digital twins – virtual real-time replicas of physical systems that allow energy operators to simulate, monitor and optimise their operations.??

Enhanced by AI, this technology is beginning to impact the sector significantly, and it’s good to see that leaders are paying close attention to it.??

Millions of data points are generated daily across the energy sector, and management of these data quantities was another standout topic of discussion at this year’s event. Real-time, high-quality data is essential as grids become more decentralised and energy production more democratised. It enables providers to predict demand, optimise distribution, integrate renewables more effectively and offer dynamic tariffs that can be adjusted in real-time based on supply and demand.?

Without the right data infrastructure, organisations will struggle to embrace emerging technologies like digital twins, making data modernisation a priority.???

- Chris Walsh , VP Energy, Resources and Incubator, Endava?

Innovation through IP to drive differentiation?

Another key takeaway was the importance of building custom IP and software solutions. As the industry continues to innovate, having proprietary systems can be the difference between leading the market and falling behind. It is becoming increasingly important for organisations to strike the right balance between leveraging existing market-leading solutions and developing their own—a combination of both will result in the best return on investment and innovation.?

With this in mind, it was good to hear from several business leaders interested in developing unique software and data solutions to differentiate themselves, secure a larger share of the value chain, and deliver innovation as part of the energy transition. This approach will ensure their resilience while offering them flexibility to respond to future challenges.?

- Tracey Matkin , Energy and Resources Delivery Partner, Endava?

Interested in learning more about how the latest technologies can drive your businesses? Discover more insights from our energy and resources experts.??