Reflecting on the Year that Was and Looking Ahead to the Future of Energy

As we start the new year, I like to take a moment to take stock of the year that was. 2023 saw a marked shift in the magnitude of challenges and opportunities facing the energy sector: a growing demand for electrification, alarm bells ringing around better sustainability and decarbonization objectives (e.g., COP28), an increase in renewables penetration, a rise in digitalization, and disruptions (such as, artificial intelligence) in technology. We explored many of these themes, and many questions and prospects subsequently surfaced.

Now, with fresh vigor, I am excited to look ahead at what’s to come for the energy landscape. Many themes will carry over. Many will emerge anew. On a personal note, I am excited to announce that I’ve opened the year with an honorary appointment to serve as ?Vice-Chair of the IEEE PES’s Relaying Communications and Control Subcommittee, focusing on the digitalization of power substation systems.

Having served on this subcommittee for 10+ years, this role could not fill me with more pride and I am eager to commit myself to everything it entails. I urge you to look forward to invitations and opportunities to participate alongside this subcommittee.

When reflecting on the past year, one focus was a showcasing of grid modernization offerings, microgrids and renewable integration solutions, grid resilience strategies, and ultimately the grid of the future. These themes paved much of the structure for the rest of the year.

One question that came up often was how do we build a better grid for a more sustainable future? Building an electrical network that meets the challenges of net-zero targets involves exploring critical factors that impact the energy trilemma. For the power industry to be prosperous, there are key aspects that need to be worked on collaboratively. We will need to propel innovation forward into planning how we can reduce our environmental footprint while reimagining a business model for better affordability, efficiency, operation, and OEM.

Collaboration here is fundamental. Investments, innovation, incentives, and initiatives are the drivers of the necessary shift. We need to implement grid-enhancing technology, make investments into existing and developing grid infrastructure, incentivize certain opportunities, and partner with industry peers. And while there have been developments, I look forward to more.

In terms of innovation and technology, 2023 saw no shortage of excitement (and of course valid concerns) about the use of Software-defined virtualization and AI. And while AI faces the stigma of apprehension, it has also been identified as a massive venture to transform the energy industry, among others. While we have seen increased adoption of AI throughout the last decade, it’s something that has made massive waves this year and will only continue to set the tone for the future.

Utilities and grid operators are looking for holistic, end-to-end products and services to address sustainability objectives, modernize their networks, and build future-proofed systems that allow for increased integration of renewable energy sources. This higher penetration of renewables necessitates a decongestion of the grid while maintaining the reliability and security of the network. And with this growth of technological advancements, there is heightened need for sophisticated engineering practices that secure digital infrastructure.

The reality is that times are changing, and we need to collectively be more vigilant than ever before. The scale of problems is increasing, as is the corresponding speed in finding solutions. The power and energy industry has a significant role to play. The grid is in an interesting position, and I cannot wait to see what this coming year unfolds.

Stay tuned – exciting times for the energy industry await us.