The digitalization of energy management produces bigger and more robust savings faster for the Hydrocarbon industry that needs to strike a balance between today's realities and tomorrows possibilities. The current trends for decarbonization in the form of electrification such as electric vehicles (EV) and other demand substitution show limited impacts in the next decade.
However, there are a number of ‘plausible disruption’ factors on the horizon, these include future regulatory changes and investor attitude towards carbon intensive industries, but perhaps the most significant factor is the cost trends for renewable power and battery technology. Solar power costs have fallen significantly in the last 10 years, closely followed by batteries. Should these trends continue it could plausibly lead to a step change in EV adoption rates, once EV’s become lower cost than the internal combustion engine equivalent, and a further increase in renewable power at the expense of fossil energy. These trends will affect fuel suppliers, but also any industrial energy user. Since the drives are primarily economic, rather than regulation driven, the impact would be global and significant.
In this webinar we review the signs which indicate which scenario is playing out, and outline the near, medium and long term steps that fuels and petrochemical producers need to take to manage the risks, whilst intelligently maximizing returns.
The webinar will move to short term actions of how digitalization can be used to make a step change in energy efficiency improvement. This combination will sustain the small steps being taken now and set the producers with lower costs and less future capital spend.