back

The Moonshot Utility What it is, why it’s needed, and how your business can become one

January 2019

Go back

Executive summary 

After more than a century of gradual evolution, the classic utility value chain is now rapidly transforming. The rise of natural gas and renewable generation, digital technology developments and changing customer preferences are all contributing to an age of disruption. Previous boundaries of existing services and business models – and even industries – are being radically modified. The current utility business model is under siege, but you already know that.

 

 

The accelerating pace of utility transformation 

Yet, behind the threats that come with change there are also many opportunities for incumbent players willing to take risks. Incremental innovation to existing utility business models can drastically lower the cost-to-serve, stabilize the grid, and increase customer satisfaction. At the same time, long-term investment in the very technologies and business models that could disrupt the energy industry will help utilities grab a foothold in the future. Utilities have to critically assess what existing values and services should be adapted for the future, and what new fertile ground must be boldly explored. 

They must become what we like to call moonshot utilities

The term “moonshot” originates from the Apollo space mission and in a business context refers to pursuing an ambitious, possibly disruptive idea without being overly concerned about immediate profitability. In our judgment, it’s a risk utilities should explore more frequently in order to stay relevant in these changing times 

This paper provides perspective and depth on the key transformative issues facing utilities, illustrating both the threats and opportunities they pose. It models the moonshot utility as an innovation framework that balances building on the valuable elements of the legacy utility business, while at the same time investing in the future in two ways: firstly by looking for opportunities outside the immediate boundaries of the sector, and secondly, investing in disruptive technologies that will change the current business model. 

Finally, we provide ready-to-use recommendations and examples, illustrating how incumbent utilities can successfully position their corporate structures to encourage a balanced approach to innovation.

 

Section 1: Utilities in a state of transformation

 

 

For more than a decade, utilities around the world have been under increasing pressure. New generation technologies, distributed assets, and competitive retail markets have been altering the landscape of the once stable energy value chain. Incumbent utilities see outdated assets and processes challenged as their traditional value proposition becomes less relevant to the modern energy consumer. 

Utilities have become masters at adapting to the evolving demands of the market for over a century, from the adaption of mass electrification to the advent of alternative generation. But these stepwise changes are now giving way to an unprecedented rate and volume of change, creating a perfect storm of industry transformation. 

These transformational trends will have their own distinct implications for different aspects of the value chain, including generation, the grid and both B2B and B2C retail. Let’s deal with them in that order. 

 

An evolution in generation 

Within generation, a number of important developments have drastically changed the dominant inputs from coal to abundant and low-cost alternatives like natural gas and renewables. 

U.S. utilities first experienced this revolution when fracking opened up substantial natural gas reserves, made even more attractive thanks to legislation restricting carbon emissions. Lower-carbon gas-fired power plants quickly began replacing other fossil plants as a cheaper, more efficient form of generation. Utilities have continued to update their assets to accommodate new electricity-generating technology that decreases energy losses, and by 2016, gas-fired plants surpassed coal-fired plants as the largest share of U.S. generation capacity.[1] 

In addition to the rapid expansion of natural gas within the U.S. electricity sector, utilities in many countries have experienced a shift toward renewable generation. Currently, renewables account for more than 8.4% of global electricity generation and 50% of growth in installed capacity. Many countries have strong initiatives to install renewable generation, such as Denmark, which produces 68% of their power with renewable sources.[2] Renewables are projected to experience continued growth in the next decade with capacity expected to increase 43% by 2022, with the U.S., China, and India accounting for two-thirds of global expansion.[3] 

For utilities, natural gas provides an efficient alternative to coal with a similarly stable output. However, increased renewable penetration presents challenges with load variability as well as frequency and voltage regulation.[4] A possible response to these challenges could be the increased digitalization of generation assets with sensors transmitting operational data to ensure proper monitoring of load variability and to promote integration with grid infrastructure.

 

Grid transformation 

While utilities adjust to new primary sources of energy dominating growth, they also must contend with increasing levels of distributed generation, which pose a threat to the existing grid business model. In the U.S., recent increases in rooftop solar installations combined with favorable legislation have supported the emergence of self-consumption and retail net metering. In 2015, 10 states each installed more than 10MW of residential solar. Utilities, such as Georgia Power and Duke Energy, are also piloting the installation of distributed energy resources (DERs) with commercial and residential solar projects to compete with rooftop solar companies.[5] 

Distributed generation is projected to become increasingly prevalent over the next five years, not only in the U.S. but also in Europe. In France, EDF Renewables recently launched a Distributed Electricity and Storage business unit. The company has already acquired two commercial and residential solar developers and plans to further increase their DER capacity to 1GW in both France and the U.S.[6] As utilities further expand into distributed generation, they must also account for fundamental changes in grid operation. 

It’s not just DER that should be concerning grid operators, however. Changes in both the source and location of generation are driving modifications to the grid that ensure continued power delivery. In the U.S., utilities are already building out transmission infrastructure near natural gas drilling and processing centers to cater to substantial demand increases. As an example, FirstEnergy Corp allocated $35 million to update existing infrastructure and install new transmission surrounding natural gas reserves within the PJM Interconnection territory.[7] 

Above a particular capacity, the variability of renewable resources begins to impact grid operations, and utilities must optimize their control of grid infrastructure. Many utilities will begin to deploy digital devices to enable more flexible operation of the grid.[8] Putting a figure on that impact, The North American Electric Reliability Corporation suggests that utilities across the U.S. will need to lay 7000 miles of transmission lines to maintain grid stability in the coming years.[9]

 

Retail revolutions – Business-to-Business 

In addition to major changes in generation and required upgrades in grid infrastructure, utilities face threats from industry newcomers selling electricity directly to consumers. Many commercial and industrial customers are beginning to purchase electricity from independent power producers. 

In 2013, 75% of commissioned wind capacity went to utility power purchase agreements (PPAs) in the U.S. By 2014, only 40% of wind capacity went to utilities, while commercial and industrial organizations contracted for the other 60%.[10] During the same period, corporate solar capacity rose,[11] with companies such as Walmart, Amazon, and Apple signing contracts for both wind and solar capacity. 

Some of these independent power producers are expanding their business models to become retail energy providers. In the U.S., independent producers still initiate PPAs with commercial or industrial customers, but they also sell electricity to residential customers with a focus on enhancing customer experience, decreasing the cost to serve, and providing segmented clean energy products. In 2016, Freepoint Commodities, a merchant of physical upstream commodities, opened Freepoint Energy Solutions, which focuses on physical electricity supply services to residential customers[12]. In the same year, a renewable-focused electricity provider, Clean Choice Energy, serviced over one billion kilowatt-hours.[13]

 

Retail revolutions – Business-to-Consumer 

With the emerging popularity of independent power producers and retail energy providers, external threats are prompting utilities to consider changes to their business model to remain profitable in the long term. Many are focusing on improving their customer experience over the next five years to compete with more digital, agile retail energy providers. Spanish utility Iberdrola recently announced their digitalization plan, which involves the rollout of 20 million smart meters in the U.S., the U.K. and Spain by 2022.[14] Digital improvements will allow customers to manage their electricity consumption with their cell phones and to schedule charging of their electric vehicles. 

But European utilities aren’t the only ones introducing innovative customer experience initiatives. California utility PG&E recently introduced an app with the option of mobile bill payment. Customers can also enroll in energy alerts, which send a text or email when their consumption is higher than usual.[15] With consumer preferences playing an increasing role in electricity delivery, utilities must modernize their businesses to maintain their customer base.

 

Section 2: The moonshot utility and the imperative to innovate

Given the current dynamic nature of the value chain, the need for utilities to be innovative is clear. But in today’s adapt-or-die business environment, seeing the forest for the trees can be difficult. There are so many potential pitfalls to avoid for the classic utility business model, the pursuit of innovation without high costs and significant risks can seem next to impossible. 

To tackle the challenges of the industry and set their businesses up for short- and long-term success, utilities need to perform a balancing act between the old and new. The moonshot utility attempts to create a balanced innovation portfolio, consisting of: 

  1. Incremental change, to optimize the legacy business
  2. Growth outside the energy sector, to create new lines of business
  3. Disruptive change from within energy, to future-proof your business 

Ultimately, the moonshot utility should be one that looks at the business needs of today and the industry transforming events of tomorrow and sets itself for short and long-term success by promoting innovation around both. 

We can’t pretend that this is an easy strategy to realize: developing new business initiatives often draws significant attention away from optimizing the existing operation. Meanwhile, utilities find that their attempts to scale these new business ideas are often stifled by old corporate culture and the fear of cannibalizing existing revenue streams. 

In the section below we take a closer look at the three approaches to innovation.

 

 

 

1. Incremental Innovation for the Legacy Business 

Incremental innovation or the process of improving a firm’s existing products, services, or systems is by far the most common approach for established corporate players. The reasons why are clear, with positive outcomes including increased efficiency, lower costs, improved performance, and a better customer experience. The overall goal of this approach is to protect the current market position of the firm from competitors and unfavorable market conditions, rather than trying to be at the forefront of those changes. 

This approach offers a conservative risk-reward proposition in a short, zero-to-two-year time horizon. Given most corporate innovations fail within three years[16], it’s no surprise businesses tend to prefer this more conservative approach to innovation. Thus, especially in more established or lower technology spaces, the standard innovation budget usually allots around 90% towards incremental innovation, with only 10% going to new business or disruptive innovation.[17] Considering the regulatory situation underlying investment decisions for many utilities, particularly those in the U.S., these numbers could be even more skewed toward incremental innovations for improving the legacy business.

It’s evident that leveraging the opportunities offered by digitalization and other technology trends for revenue generation and efficiency improvements can enable utilities to successfully protect themselves and the unfavorable market environment. New York Power Authority (NYPA) is an example of a utility using digitalization to drastically improve its existing business. As you can read in more detail in the case study section, NYPA recently began fully digitalizing their operations through a partnership with General Electric. The intended outcome is a future-proof platform, which will help optimize consumption, deal with increased renewable input and boost consumer satisfaction.

 

2. Creating Growth Outside the Industry

Energy utilities should also look to invest and innovate as a means of entering new energy product lines - but also new industries. The aim is to germinate the seeds of future revenue generators. By investing in this approach, a company needs to clearly understand the assets and tools at their disposal, such as talent expertise or institutional knowledge, and experiment with ways to apply those assets to entirely new business models. 

Through investing in growth innovations, utilities can expand their reach, offering products and services that are adjacent to energy and share resources or knowledge with the existing utility business. Utilities should innovate into industries that will take advantage of their existing strengths, like highly industrialized. 

Another plus for new entrants: few utilities have fully embraced the smart technology revolution to date. Exceptions include German utility, innogy, which recently entered the smart cities market with the introduction of the Smart Pole Factory, which combines innogy-operated streetlights with smart solutions tailored to specific customer needs. Modular units can be added to streetlights to enable Wi-Fi connectivity, electric vehicle (EV) charging, security cameras, and advertisement screens. This technology allows cities to customize their smart features and allows utilities to expand their product offerings. You can see more details of this engagement in the case study section, below.

 

3. Unprecedented Innovation for the Growth Business 

In order to harness the full power of innovation, companies should try to imagine a world in the future where technological advancements have completely changed their existing business model – without consideration for near-term success. In reality, many of these potentially disruptive technologies may never have the long-term impact on the industry that the company as imagined. However, owning a stake in the few that eventually do will have dramatic, positive consequences for the business. 

By investing in disruptive innovation, utilities are involving themselves directly in the technologies and trends that could completely change the energy industry and their own business models in the future. Green Mountain Power provides an excellent example of a utility experimenting with such disruptive technologies – specifically domestic energy storage. You can read the full details of this collaboration with Tesla in the case study section, below. 

 

Section 3: Bringing about the change – Corporate Innovation Structures 

Setting up an organization to successfully handle these different types of innovation can be challenging. Impactful, new ideas for company initiatives can come from a variety of places, be they from existing employees or someone on the Internet in a crowdsourcing competition. Firms need to be properly organized to receive these ideas from any relevant source. The dynamic between sourcing innovations internally versus externally and which method results in the best ideas has been a point of contention amongst corporate innovators for the past two decades. But these days, many utility players are experimenting more and more with both types of corporate innovation structures, albeit with varying success. 

Ultimately, the formation of a company’s corporate innovation structure, whether internally or externally focused, should be a good fit for the organization’s overall innovation strategy. Internal innovation offers a more cost-conscious and incremental approach to innovation that supports employee enablement, while external innovation usually provides more creative, potentially disruptive ideas at a higher price tag and failure rate. For the moonshot utility’s strategy to balance different types innovation and meet changing technologies and industry trends in the short and long term, it’s important to have a mix of separate but equal streams of innovation sourcing to support that strategy.

 

Internal Innovation

As the name suggests, internal innovation comes from ideas generated and sourced from current employees of the company. To be an organization that strongly supports these efforts it’s not only important to have employees who are natural innovators but also to have an environment that supports forward thinking from any part of the company. It’s vital to not only accept ideas that are produced by those individuals who are tasked with formulating ideas (such as employees within an innovation department) but also to source ideas from line managers and functional workers alike. 

Common examples of internal innovation programs include creating their own departments, online portals for employee idea sharing, innovation competitions, and intrapreneurship courses. The main advantage of these types of programs is that the people who deal with the company’s products, services and processes every day may have the insider knowledge and expertise to bring incremental solutions to real business problems currently facing the firm. The potential downside of this insider knowledge is that these employees may not best suited for thinking and innovating around future industry disruptors. 

Outside of potentially generating impactful ideas that could benefit the company, internal innovation provides tangible benefits for employee engagement. For instance, promoting creative thinking amongst employees in an innovation workshop will promote the same types of thinking when these employees problem solve in their day-to-day tasks. Also, demonstrating that upper management is willing to invest in and hear its employees’ ideas around improving the company has a noticeable impact on employee satisfaction and, consequently, talent acquisition and retention.

American Electric Power (AEP) provides a really great example of internal innovation done right by launching its Spark Tank Challenge in 2017. The challenge, modeled after the popular television show Shark Tank, is an enterprise-wide event where employees pitch their innovative ideas to AEP’s Technology Council as well as other internal and external judges. Over 600 employees pitched 400 new ideas to the company in 2017. The three winning ideas were centered around the expansion of AEP’s growth business: new energy services and connected devices, and selling residential battery storage to its existing customer base. The company committed to exploring and potentially funding these winning ideas after further viability studies.

 

External Innovation 

In the decades preceding the 21st century, external innovation was an incredibly expensive gamble for many companies. Progressive established players would often bring new ideas in by partnering with venture capital firms or other companies, buy smaller innovative firms or acquire another company’s research and development business unit. Although to a certain degree these activities still exist, taking a bigger and higher priced one-time gamble on acquiring more established ideas has declined, in favor of covering more ideas through fail-quick and fast startups. 

More recently, incubation hubs and startup funding have taken over as the main source of external innovation for established firms. Startups have a lot of advantages that established firms lack, such as being able to operate on the fringes of industries with experimental products and services, and being organizationally agile enough to pivot to a new direction when their current ideas are failing. Consider innogy’s Innovation Hub, a fully separated subsidiary charged with seeding investments in external startups. They focus on key new areas in the energy landscape, such as big data, the machine economy, and the connected home. National Grid is also looking to the future by forming a $250 million VC fund, which has already put $19 million into five tech start-ups. The fund has been specifically designed to incubate and develop new and potentially disruptive technologies.[18] 

 

Section 4: Real-world moonshots – case studies of how utilities are mastering transformation 

Below are a number of case studies detailing how utilities are already embracing the moonshot paradigm in order to master markets in transformation, several of which have been referred to earlier in the text. If you would like further information on any of them, please don’t hesitate to contact our team.

 

Powershop UK – How to combat an unfavorable market environment with industry-leading customer satisfaction and a disruptively digital solution

 

 

When npower, the UK retail arm of the German utility innogy, was faced with a very unfavorable market environment and internal challenges, it sought innovative solutions to the declining margins in the retail business. One of them was Powershop, which was launched into the UK market, together with Meridian, a New Zealand utility. Powershop is a fully digital electricity retailer, offering customers the possibility to purchase small amounts of power in advance at a slight discount, hence creating greater transparency for customers and a feeling of control and reward. 

When npower made the decision to diversify its retail operations, the market situation in the UK and its outlook was grim: utilities were faced with a greater political, regulatory and media scrutiny, price comparison websites became increasingly important, new entrants intensified the competition significantly and customer expectations were increasing. 

In this situation, npower was approached by Meridian, who had established Powershop in New Zealand in 2009 and launched it in Australia in 2014. The target for Powershop was to act as an outlier in the UK market, attracting a different customer group to npower. Its development philosophy followed an agile and customer-centric approach focusing on delivering an Opex-light, full CRM platform, enabling agile product launches with a development time of hours from concept to delivery (where it previously took weeks). Implementing this philosophy was made possible by choosing Ruby on Rails as the coding language (also used by Airbnb, Hulu, Groupon, and others) and building in redundancies to ensure fault tolerance and scalability. 

Powershop’s value proposition is completely digital: customers buy so-called Power packs, small amounts of power, via the Powershop website or their smartphone app. Bills are sent out electronically and customer service is channeled via online channels as much as possible. In this way, Powershop creates over 100 customer interactions per year, which is unique in its magnitude for the energy industry. This enables Powershop’s powerful IT backend to run granular customer analytics, gaining greater customer insights. Overall, success is impressive with Powershop being named the top retailer in New Zealand in 2018, boasting a net promoter score of 46, and with customer satisfaction continuously being above 90%. 

 

New York Power Authority digitalizes for enhanced customer satisfaction 

As utilities seek to improve existing operations, a few have realized substantial benefits through digitalization. Digital platforms allow utilities to optimize operations and improve customer satisfaction, as questions of renewable integration, grid reliability, and competitive markets dominate the landscape. The New York Power Authority (NYPA) recently began fully digitalizing their operations through a partnership with General Electric (GE).[19] 

NYPA and GE are working together to create an Integrated Smart Operations Center (iSOC), which will include digital replicas of all NYPA generating facilities, substations, and transmission lines. iSOC will also monitor more than 11,000 buildings in New York State to track how energy is consumed and help optimize consumption. NYPA’s new digital platform will also integrate with GE’s Predix solution, which allows the utility to monitor the health of its assets to more quickly detect and prevent power outages.[20] 

With iSOC, NYPA can monitor consumption patterns and identify risks of disruption – this capability is crucial as renewable generation continues to increase. New York State is currently pursuing the governor’s renewable energy goal of 50% of the state’s power being generated by renewable resources by 2030. Digital platforms, like iSOC, can increase the reliability of infrastructure and decrease the stress put on the grid by variable generation resources. 

Digitalization of assets can also increase customer satisfaction with fewer unplanned outages or dangerous grid meltdowns. Platforms that incorporate predictive maintenance and monitoring capabilities also allow utilities to better plan for inclement weather and to respond more quickly when things go wrong. 

With the recent growth in renewable capacity and the increased reliance on customer satisfaction, many utilities are seeking ways to digitalize their operations. Many governments have introduced renewable energy targets and have tasked utilities with ensuring the grid is ready for this energy transition. Platforms for monitoring digitalized assets allow utilities to guarantee reliability in the face of a changing generation landscape. Customer experience can also be improved with decreases in downtime and optimized grid maintenance. More utilities may soon find themselves incorporating innovative elements of NYPA’s digital platform to prepare for the future of the energy industry.

 

Green Mountain Power – harnessing energy storage in the home 

In Vermont, Green Mountain Power (GMP) launched a pilot project with Tesla in 2018 in which the utility markets the Tesla Powerwall 2.0 to residential customers. Powerwall 2.0 is a battery storage system that can provide homes with 8-12 hours of backup power in case of a grid outage. Participants in the pilot program also agree to allow GMP to access the battery during peak consumption periods to reduce the cost of electricity for all their customers.[21] 

The first pilot launch was open to 2,000 participants and filled up within a year. Program participants could choose to pay $1,500 upfront or $15 per month over ten years. Due to customer enthusiasm, GMP will be launching a second round of the pilot program to provide even more electricity consumers with access to Tesla’s battery storage technology.[22] 

Traditionally, programs like demand response that focus on reducing the cost of peak consumption are aimed at large commercial or industrial consumers, and often grid operators provide an incentive for their participation. However, the Powerwall program allows residential customers to participate to keep their own rates lower, which increases their feeling of control over their electricity consumption and rate payments. 

In addition to reducing electricity prices during peak demand periods, residential customers can pair their Powerwall with distributed solar generation. Solar-generated electricity is stored in the Powerwall, while the excess is returned to the grid for credit toward the customer’s electricity bill.[23] This program allows customers to further reduce their electricity bill, while encouraging increased production of clean electricity. 

While GMP and Tesla’s Powerwall partnership has been very popular with consumers, the program provides benefits to current utility operations as well. The utility maintains control of the Powerwall and can off take stored electricity during peak demand hours, rather than relying on expensive peaker plants or undertaking expensive infrastructure upgrades. The Powerwall can also store electricity generated by distributed solar projects, which can eliminate grid complications due to bi-directional flow. 

The Powerwall program provides important short-term advantages to GMP, but also has significant long-term implications for utilities in general. As consumers continue to express a preference for distributed generation as well as increased control over consumption and spending, utilities must adapt their business to meet these needs. 

In the long term, pilots like these help utilities maintain their presence in the market as technology emphasizes digital, distributed solutions radically different from the traditional utility value proposition. 

GMP is widely acknowledged as an innovative U.S. utility. They were the first utility to earn B Corp Certification, which indicates their commitment to sustainability, accountability, and transparency. The organization was an early adopter of renewable energy production and introduced a program to retrofit homes with solar and energy efficiency products. GMP’s CEO, Mary Powell, describes her strategy to make her company the “un-utility” by pursuing ventures often perceived as threats to the traditional utility business model.[24] 

The concept of the “un-utility” is critical to utilities seeking to adapt to rapid changes in technology, consumer preferences, and the entire energy landscape. These organizations must pursue innovative business models, even if it means cannibalizing their existing business. Some utilities, like GMP have expressed the appetite and capability to make these changes and remain relevant in future electricity markets. Others, however, must contend with budgetary constraints, internal bureaucracy, and regulatory influence, which make offering new services or pilot programs difficult. 

 

Smart Pole Factory – Tackling urban needs with a smart pole infrastructure

 

 

Cities around the world are growing tremendously, posing significant challenges for the mobility, communication, security, and connectivity of the urban population. Furthermore, these services must be delivered cost-efficiently. At the same time, communities operate large street light systems connected to the electricity and sometimes also the telecommunication grid. innogy’s smart pole factory combines this infrastructure with smart technology solutions to tackle some of the challenges urbanization poses, at the same time seizing the opportunities digitalization offers. 

In short, innogy equips streetlights with technologies beyond lighting, thereby gaining unique insights into hyper-local surroundings. This is done as a retrofit solution with existing streetlights or by installing a new modular multi-functional streetlight, which can be equipped with different technologies according to the customer’s needs. Customers are municipalities and private companies operating private and semi-public spaces (such as outdoor shopping malls, parking garages, etc.) Both are looking for ways to increase services to their citizens or customers, keep pace with digitalization and gain more insights about their community or customers.

The Smart Pole Factory analyses data generated from the different sensors and devices, combining them to generate further insights. For example, a community might want to implement a smart parking infrastructure, leading cars not only to spare places in car parks but also to idle parking bays along the streets via parking apps. On another note, urban populations require connectivity and smart poles can be equipped with WLAN routers offering free Wi-Fi. As a side product, WLAN routers can be enabled to analyze visitor flows between shops, offering unique insights for shops and the city center as a whole. Providing sufficient charging stations for EVs will be a key challenge for communities in the future: streetlights are abundant, already connected to the electricity grid and can be equipped with an EV charging module.

 

Section 5: Conclusion – it’s time to build a rocket

The utility ecosystem is evolving at an increasing pace, and the old certainties of generation, grid and retail models are fast disappearing. A few utilities have woken up to the dangers of playing the same old game, and have identified new business opportunities and commercial approaches to defending their companies’ future. But for most, the journey to becoming a moonshot utility is only just beginning. What’s more, implementing the corporate innovation structures and evolving the corporate mindset are daunting goals indeed. But the clock is ticking on the old industry norms, and now is the time to act.

 

A helping hand to the moon

Helping you get there is what we’re all about. innogy Consulting is a leader in helping companies implement innovation strategies, and can assist yours to make the leap to a moonshot utility. By way of proving our abilities, we’ve already helped Germany’s RWE re-invent itself with the founding of innogy. What’s more, we’ve developed innovation hubs and helped organizations move from the first spark of an idea through to blasting off with an executable plan. 

Central to that journey is getting the organization right. We’ll help you with the careful delineation of roles and focused effort needed across the company, that will help you to follow three key principles:

  • Stay ahead of transformational trends that will have a direct impact on the energy value chain.
  • Balance incremental legacy business with future opportunities by investing in more both innovations within and beyond energy to create a well-rounded innovation portfolio.
  • Source ideas from both internal and external innovation structures to set your utility up for success.

 

 

 

innogy Consulting will help you define an innovation strategy and portfolio and make your moonshot a reality. With us, you’ll gain access to experienced consultants in innovation strategy plus the financial and innovative partners from outside your business you’ll need to succeed. 

Work with us, and we’ll also deliver the best digital practices, data scientists and automation experts. Our experienced team also demystifies the buzzwords surrounding disruption, helping you understand and take advantage of the trends behind technological transformation.

 

 

Citations

[1] Kwon, A. (2017). Natural gas generators make up the largest share of U.S. generation capacity. Washington, DC: Energy Information Administration.

[2] (2018). Statistical Review: Renewable Energy. BP.

[3] (2018). Statistical Review: Renewable Energy. BP.

[4] (2017). Renewables 2017. International Energy Agency.

[5] Bade, G. (2016). The top 10 trends transforming the electric power sector. Utility Dive.

[6] Pyper, J. (2017). EDF Renewables Joins the Fray with New Distributed Energy Business. Greentech media.

[7] Walton, R. (2015). Natural gas boom drives FirstEnergy transmission investments. Utility Dive.

[8] (2017). Getting Wind and Sun onto the Grid: A Manual for Policymakers. Paris: IEA.

[9] (2015). Potential Reliability Impacts of the EPAs Proposed Clean Power Plan. Atlanta: NERC.

[10] (2014). U.S. Wind Industry Annual Market Report. Washington, D.C.: American Wind Energy Association.

[11] (2015). Solar Means Business. Solar Energy Industries Association.

[12] (2016). Ethical Electric Passes One Billion Killowatt-hours Served to Retail Electricity Customers. Utility Dive.

[13] (2016). Freepoint Commodities Announces Launch of Retail Energy Supplier: Freepoint Energy Solutions. Utility Dive

[14] (2018). Iberdrola will invest 4.8 billion euros in digital transformation by 2022. Madrid: Iberdrola.

[15] Johnson, L. Pacific Gas and Electric Co. simplifies payments via apps, SMS. Retail Dive.

[16] Kirsner, Scott (2017) The Stage Where Most Innovation Projects Fail, Harvard Business Review

[17] Nagji, Bansi and Geoff Tuff. “Managing Your Innovation Portfolio.” Harvard Business Review. (Accessed on December 10, 2018)

[18] Pyper, Julia 2018 National Grid’s New Venture Capital Arm: ‘We Want to Disrupt Ourselves Greentech Media

[19] (2017). NYPA Helping With Governor Cuomo’s Goal of Generating Power from Renewable Resources by Digitizing Power Systems. Pfister.

[20] Anzilotti, E. If We Want Renewable Energy, We Need Fully Digitalized Power Systems. Fast Company.

[21] (2018). Tesla Powerwall 2.0: Popular backup battery storage. Vermont: Green Mountain Power.

[22] (2018). How does GMP and the Tesla Powerwall program actually work? Vermont: Green Mountain Power.

[23] (2018). Tesla Powerwall 2.0: Popular backup battery storage. Vermont: Green Mountain Power.

[24] Farrell, J. (2017). Mountains Beyond Mountains: How Green Mountain Power Became More Than An Electric Utility. Renewable Energy World.

Go back

© innogy 2019