How Will Power Be Used Tomorrow and What Can Your Company Do About it?
The energy world is changing at an unprecedented pace. The way large organizations acquire, manage and use energy is dramatically different today than it was ten years ago. And ten years from now, it will likely be different still, as technological, regulatory policy and business model innovations continue to yield new opportunities for energy management. So how will we power the world of tomorrow? What kinds of business models will prevail for the largest users of energy?
Edison Energy wanted to understand how to best serve the needs of these large energy users in the future, so spent time with the people and organizations that procure, manage and use energy for their operations to understand what would help them achieve their business objectives. They spent more than a year conducting perhaps the most comprehensive study ever done on the role of energy in large organizations and the challenges and changes in corporate energy management. Working with ReD Associates, a strategy consultancy that uses the human sciences to investigate the social underpinnings of changing markets, they met with hundreds of people who have a hand in energy management at large companies and organizations. They spent time with C-suite executives, energy and facility managers, sustainability professionals, engineers and countless other stakeholders. They walked through their facilities and sat in on meetings, all in order to understand the organizations’ world-views, practices, challenges and decision-making processes.
The result of this exhaustive research is highlighted in this insightful white paper, The New Energy Future – Challenges and Opportunities in Corporate Energy Management. The highlights of the research revealed in the white paper and are based on:
- More than 100 executives and energy managers as part of deep dives with 26 global commercial and industrial companies, ranging from aggressive early adopters to more conservative organizations;
- Executives and energy managers at 542 medium and large US companies from all industries;
- More than 30 expert interviews with a diverse set of vendors, executives, academics, and researchers in the energy industry; and
- Extensive industry research including a synthesis of more than 50 analyst reports on different energy industry trends.
The explosion of opportunities for better energy management has led to overwhelming complexity and has created a headache for executives. Many organizations have been building out their internal capabilities within energy management, but the lack of a universal language of energy—understood by engineers and executives alike, and facilitating fact-based comparisons—prevents them from taking advantage of the opportunities in front of them. As one of the participants in the research said, “We’re not an energy company.” 45% of companies included in the research cited a lack of executive interest or understanding as a major barrier to investments in energy. Meanwhile, the industry at large is lagging behind, caught in a siloed, technology-centric hype cycle. This state of affairs is not sustainable. One of the findings of the white paper is that better insight and integration across data, technologies, and strategic goals will unlock the next wave of innovation in energy.
In the future, a new breed of service provider will make energy more accessible to senior management by combining engineering expertise, strategic thought leadership and a willingness to take on the risk of energy management. In time, energy will not be sold as a commodity but instead delivered as a comprehensive service, in which companies get access to reliable, sustainable and affordable energy and energy management programs, delivered by professionals who are fluent in the details of engineering and the practicalities of business.
We encourage you to download this fascinating paper to find out what your industry peers are saying about the energy and the changing relationship that large energy users have to a dynamically changing energy future.
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