Modernization of the Grid has been evolving for many years. Several shifts have occurred, including cost-effective technology advancements, consumer expectations, and regulatory policy. These shifts and more have driven Utility Modernization strategies into one of the most important objectives to get right today.
Distributed Energy Resources (DER), renewable energy, and other energy distribution methods, have challenged traditional business models. Cybersecurity concerns – and even the weather – create new pressures on an organization’s operations. However, the good news is that strategic modernization can be effectively managed, delivered on time, and within budget.
Many of yesterday’s legacy challenges supported by today’s automation can be solved. In doing so, Utilities will develop new capabilities. We know that the industry’s increased access to data will help it to harness the promise of grid modernization and the Internet of Things (IoT). The industry’s response to this changing landscape must be strategic, reliable, and balance modernization with cost-effectiveness.