Today’s global movement towards progressively cheaper, more renewable energy generation is also a shift towards an energy landscape that is more distributed and dominated by smaller players. New technologies, such as the Internet of Things, energy storage, artificial intelligence (AI) and blockchain are increasingly fueling a prosumer movement. The promise of decentralized energy is bright.
We are witnessing the democratization of energy in action, and it is something to be celebrated. Local, smaller energy players can make the most of their regional expertise, using their proximity and local connections to make energy projects a success. Today private corporations, individual homeowners and grid operators are all contributing to a cleaner, but more complex and dynamic energy world. As this localized energy community evolves with a diverse set of actors, the need to structure the complexity increases.
The existing traditional model is not adapted to new the requirements and this diverse value chain needs to be orchestrated and connected.
A meeting of the minds
Today the most disruptive and successful businesses are facilitators and connectors. They use digital technology for communities to exchange ideas, discover energy applications and provide their own services.
Schneider Electric Exchange is among the first business platforms inviting open collaboration and data exchange. It takes customer-centric technology development to another level by empowering a digital ecosystem of members that can create, collaborate, and scale innovation. Schneider Electric Exchange brings together experts and innovators from across industry, software, and technology to solve very specific challenges, giving them entry to a digital space that provides
- Technical tools and resources such as data sets, reference designs, APIs
- Global and diverse communities across traditional boundaries
- A marketplace for shopping digital solutions
Schneider Electric’s Exchange could also be the means to orchestrate a new, more diverse energy landscape – the platform for the energy transition.
Growing in the digital economy
By combining Schneider Electric’s huge network of partners and technology providers that offer solutions with AI, machine learning, and more, Schneider Electric Exchange opens access to whole new markets and to the specialist skills local players need to grow. Above all, it lets organizations pool their resources in the spirit of shared success.
Many companies who engage in Schneider Electric Exchange specialize in digital supply chains, asset performance, predictive maintenance, cloud and mobility, smart design and engineering, and connectivity among others. Schneider Electric Exchange provides access to the best problem solvers in the industry, encouraging collaboration to scale solutions that support future decentralization.
Making positive impact on decentralized energy
The Schneider Electric Exchange also hosts regular data science and open innovation competitions through the platform. It invites experts to develop algorithms that solve complex business as well as global energy related challenges, one such project was detecting abnormal energy consumption in buildings. The source code developed by participants earns them recognition and goes into making Schneider Electric’s software and applications better and more efficient.
Winners of the Schneider Electric Exchange Singapore Challenge, Positive Energy Ltd. is a digital pioneer in the Schneider Electric Exchange community. The Singapore-based company uses blockchain technology to help connect renewables projects to the financing they need.
Investors typically fund larger non-renewable generation projects over smaller, renewable ones. The investors are often put off by high transaction costs and unfamiliar legal territory, while the process is long, complex and costly for project owners. As a result, many renewables projects are caught between being too large to apply for grants and too small to inspire investor confidence, despite intrinsic profitability.
Positive Energy eliminates this hurdle for small projects. The company’s blockchain-based platform optimizes the asset finance workflow. It lets investors quickly source, audit and fund renewable energy assets. The underpinning blockchain technology allows all parties to exchange large amounts of information efficiently, while also boosting trust by listing all deals on an open exchange.
The era of closed businesses is over!
The challenges posed by climate change and spiraling energy demand are global in scale and demand global solutions to solve. Fortunately, a digital ecosystem such as Schneider Electric Exchange represents a new way to accelerate digital innovation and knowledge-sharing. In a more decentralized world, digital co-creation environments like this will be vital in the future, supporting and fostering tomorrow’s energy breakthroughs.