Did you know?
There’s a lot of hype around digitalization, but the application of digital technology (computers, connectivity, sensors, data and software) is a key enabler in the decarbonization and decentralization of the electricity sector.
Some useful definitions:
- Digitization – making things digital
- Digitalization – application of digital technology to change business processes and the set of opportunities created by digitization
- Digital Transformation – changing business models enabled by digitalization
Digitalization and new business models will allow electricity consumers to take a more active role in the electricity system. For example, supply and demand can be balanced by connecting embedded rooftop solar generation with consumer smart appliances which respond to price signals and record transactions automatically in a secure blockchain.