INDUSTRY X . 0
Electricity coupled with digital transformation will be the focal point of the energy transition , says Schneider Electric ’ s EVP of Global Power Products , Rohan Kelkar
WRITTEN BY : MARIAM AHMAD
RLD
hen the same mysterious force energises someone ' s touch , a stroke of lightning , and buildings across the world , a curious duality ensues : despite being a ubiquitous part of our lives , we simultaneously manage to take electricity for granted and marvel at its might .
In the Stated Policies Scenario , global electricity demand is projected to grow at 2.1 % per year until 2040 – twice the rate of primary energy demand . This raises electricity ’ s share in total final energy consumption from 19 % in 2018 to 24 % in 2040 . The next question arises , then , is how will conversations surrounding sustainability and net-zero affect the rapid growth of electricity usage ?
According to energy industry leader Schneider Electric , electricity will be the focal point of the energy transition . The company believes that the key to achieving ambitious net-zero targets is by prioritising Electricity 4.0 , which involves the integration of digital technologies and electricity on a huge scale .
This rapidly growing digital economy will demand 50 % more power by 2030 ; combining digital and electric resources will provide a solution . The implementation of Electricity 4.0 will lead to a significant transformation in how we manage , consume , conserve , and distribute energy . The convergence of digital and electric power enables enhanced control , visibility , connectivity , and intelligence , resulting in greater efficiency and reduced waste .
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