Coxauto@LTIM
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Horizons
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Elaborate Segments
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Electric Utility Technology Trends
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Introduction
Key Takeaways from the report
“LTIMindtree’ s Crystal – Electric Utilities Industry Technology Trends Radar 2024 is the first edition of our report that presents a comprehensive view of emerging technology trends and their roadmap in the Utility industry. This report is a result of collaboration between our Global Technology Office and the Utilities Council. Our team of experts conducted rigorous research on the adoption of technological trends shaping the Electric Utilities industry.
Application of Cutting-edge Technologies: Leveraging Generative AI, Chatbots, and Design Thinking, utilities can enhance customer experiences, streamline operations, and increase agility.
Intelligent Decision-Making in Volatile Markets: By utilizing blockchain and predictive AI models, utilities can make intelligent decisions in the increasingly volatile utilities market, where uncertainties of supply and demand prevail.
Evolving Business Models: Through the integration of Advanced Energy Management Systems and Virtual Power Plants, utilities are evolving their business models, aiming for better shareholder returns and improved regulatory compliance.
Top 6 Trends in Electric Utilities
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Renewable distributed energy resources offer utilities multiple benefits, including supporting decarbonization and improving resilience.
Renewable & Distributed Energy Resources Integration
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Hydrogen guarantee of origin enables organizations to monitor the origin of hydrogen from production to usage.
Decarbonization: Hydrogen Guarantee of Origin
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Greenhouse gas emissions reporting is an excellent opportunity to identify areas for savings through energy efficiency measures.
Green House Gas Reporting
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By leveraging AI and ML algorithms, advanced analytics can optimize the charging and discharging cycles and anticipate grid conditions.
Real Time Asset Performance Monitoring
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VPP can help cater to the power demand of rural areas where power companies have limited grid infrastructure.
Virtual Power Plant (VPP)
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(AMI) Network Health Monitoring allows consumers to monitor electricity consumption on a real time basis and fix faulty devices.
AMI (Advance Metering Infrastructure
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LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 82,000+ talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit https://www.ltimindtree.com/