I got the power

How does energy determine the future of the All Electric Society? How is the trinity of generation, control and consumption changing and shifting? These issues are increasingly becoming the focus of the industrial arena and of society at large. The role of electrical energy as a driving force is not only transforming production processes, but also the perception of energy itself.

Our perception of electricity has changed fundamentally in recent years. In the past, electricity was seen as a kind of abstract commodity – often being viewed merely as a source of energy that did its work silently in the background. Put simply, electricity simply came out of the socket and that was it. This image is now changing.

The integration of new technologies, in particular battery storage systems and decentralised generation plants, is transforming electricity into a tangible commodity. More and more consumers are recognising electricity as a manageable and tradable commodity that can not only be used, but can also be stored and sold. This development is creating new opportunities in the energy market and promoting a good deal of rethinking in the way we use electrical energy – and this also applies to its generation.

The expansion of renewable energies is being driven forward apace – across the globe. Countries are investing massively in technologies for the generation of electrical energy from solar and wind power. The reasons are obvious: Renewable energy sources not only make ecological sense, they also deliver economic benefits.

The price of electricity generated by renewable sources is now competitive and is giving rise to new business models emerging. Companies and consumers are benefiting from this development, as the costs of renewable energies are continually trending downwards. This transformation is resulting in new dynamics in the energy market, which are also incurring lasting impacts on the various branches of industry in the truest sense of the word.

Sector coupling is a decisive factor for the future energy supply of all consumers, from industry through to the private sector. The seamless integration of electricity generation, storage and consumption gives rise to more efficient utilisation of electrical energy. The challenge is to network the various consumers and producers so as to optimise the energy flow. This sector coupling is essential to ensure a stable and needs-based energy supply. New storage technologies and intelligent control networks are playing a decisive role here.

Consequently, energy storage systems are essential for the transformation of energy distribution. In view of the fluctuating generation from renewable sources, the storage of electrical energy is advancing as a key technology. Companies are investing in innovative storage systems to bridge the time gaps between generation and consumption as well as compensating for so-called dark periods. Leading edge technology, such as modularisation using plug-in battery storage systems, makes it possible to store electricity when it is produced at lower costs. When demand increases, it can then be sold or utilised – a development enabling more flexible pricing and contributing to the economic stability of the energy market.

The decentralisation of energy generation is another key aspect of modern energy supply scenarios. An increasing number of companies and households are turning to their own generation options, such as photovoltaic systems. These systems ease the burdens on existing energy grids and enable producers to operate independently of centralised power plants. The trend is for electricity consumers to become electricity producers at the same time – a development that is changing the market dynamics and could revolutionise access to electrical energy.

As energy generation changes and shifts, new business models are also emerging. Companies are increasingly having to adapt and find more innovative ways to offer their services. Trading in electrical energy becomes more attractive as price and supply fluctuations enable maximising financial efficiency. Consequently, the generation, storage and distribution of electrical energy is becoming a complex, dynamic business area offering scope for diversification and new approaches.

The issue of energy efficiency is also becoming increasingly significant – not least within the context of digitalisation. More and more companies are facing the challenge of making their energy consumption sustainable. This holds particularly true in the electromobility and data areas, the second important lifeline of the All Electric Society. Intelligent control systems enable companies to optimise their consumption so that energy is used when it is available and favourably priced. After all, efficient use not only means reducing costs, but also minimising the ecological footprint. This in turn requires a deeper integration of technologies that enable seamless communication between the different sectors.

To recapitulate, the course to the All Electric Society is characterised by various factors. The perception and appreciation of electrical energy is changing. Renewable energy forms are gaining in importance and requiring new approaches to sector coupling. Energy storage is advancing as a central issue for the economic and sustainable use of energy. Decentralising the energy generation is revolutionising the energy market, while new business models are opening up new avenues. And lastly, energy efficiency is also an essential component that will characterise future energy consumption. With these changes and shifts, the course has already been irreversibly set for a sustainable and efficient energy future that meets the needs of consumers and the relevant ecological requirements at the same time.