Markets
Energy
Energy consumption is rising at a massive rate with demand at risk of out stripping supply. In light of this uncertain future does technology have the answer?
Energy
Demand for energy is continuing to rise as does the cost of energy driven by rising oil prices, global conflict and the rocketing cost of maintaining power stations.
Energy efficiency - the ability to monitor, manage and reduce the amount of energy used - is emerging as a primary source of clean energy “generation,” and a market segment ripe for innovation.
As a result a whole series of point solutions addressing energy management have sprung up on the market. Two prominent examples are the emergence of the Demand Response (DR) marketplace and the automated meter reading/advanced meter infrastructure (AMR/AMI) marketplace.
These point solutions are part of a greater effort to build a “smart grid”, which can create intelligence, command and control from the utility down to the consumer.
But each solution has its shortcomings. For instance, DR solutions currently rely on expensive, external control mechanisms to cycle-down appliances and disconnect a load, which limits their reach and their cost-effectiveness.
AMR/AMI solutions are beginning to build a much better view of energy use from utility to utility box, but they still offer virtually no insight or control beyond the meter, and provide little or no control to the consumer to monitor and manage his own electricity consumption.
Clearly, energy efficiency efforts have begun, but they have a long way to go and it’s the last few yards (meters) that really matter in managing the world’s energy at the point of use. This is where DeepStream steps in to provide the answers.
To view a video by our CEO, Mark Crosier, on what DeepStream is doing for the energy market…
Energy Today
Global energy consumption will grow by 85% from 16,424 billion kilowatts in 2004 to 30,364 billion kilowatts in 2030, according to the Energy Information Administration (EIA).
Energy consumption is growing in countries such as Brazil, Russia, India and China is increasing three times faster than in OECD countries such as the UK and US.
It’s estimated that energy generation accounts for 70-80% of the greenhouse gas emissions that cause climate change.
The US Department of Energy estimates that by 2030, 508 coal steam plants, 31 nuclear plants, 330 combined cycle and 564 combustion turbine plants will need to be built to satisfy expected demand.