The energy sector is undergoing a major transformation. Public and private utilities are facing an increasingly complex business landscape marked by distributed generation, intermittent renewables, the push for decarbonization and ageing infrastructure. In light of all these factors, we need to rethink our power generation, transmission and distribution strategies and find integrated solutions. The power sector is redefining its future, and BBA is proud to be playing a role in it.
Independent Power Producers
Independent power producers (IPPs) were once exclusively dedicated to supplying public utility electrical grids, but now they're diversifying their business models. The shift to clean energy sources is already well underway, as part of our broader decarbonization efforts. We're seeing growth in the renewable energy sector, more widespread use of distributed generation and major strides in efficient storage technologies. All this is opening the door to new business opportunities for IPPs. With market rules bound to further adapt, IPPs must now plan their future projects to reflect more varied and complex revenue generating mechanisms.
Our quality of life and economy depend on the power grid, and system operators are tasked with making sure it's managed properly. With the recent push to decarbonize the energy market and the rapid development of new technologies, it has become particularly challenging to keep the grid secure and reliable, while also ensuring that power is efficiently supplied to consumers and facilitating energy sales. As we reach a critical point in which the industry is largely shifting to digital and sustainable solutions, establishing stringent standards is more important than ever.
Today's society expects tomorrow's industries to be low-carbon. Given their substantial power consumption, many companies are already looking to decarbonize their operations by converting to renewable energy sources and optimizing their energy efficiency. Achieving carbon neutrality while ensuring continued access to a reliable and adequate energy supply will require a serious effort over the next few decades. Fortunately, there are a number of readily available technologies—both emerging and proven—to help companies reach this goal.