How Power Generation Industries are Adapting Themselves to Energy Demand
Electric power production was, at one point of time, dominated by utility controlled power plants. These power plants dominated the power generation industries for more over a century. Today, these industries are adapting themselves with new methods of energy production as change in technology has made it a lot easier for these industries. Power generation industries are no more dependent upon utility control and use of nonrenewable resources but are now also using renewable resources on a large basis for their operations. And this is happening at a fast, very fast pace!
It is almost a surprising fact to know that the power generation industries are no longer the traditional â€œplants with huge setupsâ€? these days. They have slowly adapted themselves into smaller plants that are spread across many locations owned by different people and organizations, which is a very smart move on their part as because of being more convenient mode of operation; it has challenged the mode of operation of the traditional model involving large plants and typical machinery.
Sources of energy are the greatest issue that a country faces, and the problems faced by a country are ultimately the problems faced by industries in that country. Hence, a country has to adapt according to available resources and how it will help an industry run. They also have to stay focused on the competition and hence they develop towards adapting to new and better methods of operation. Today power generation industries enjoy more profit compared to what they used to make in the older days. The most basic reason being the fact that most industries have now switched to renewable sources of energy, and because of this they donâ€™t run out of fuel like they used to do in the past and spend a huge amount of money on buying it again. NonRenewable energy sources are bound to run out of supply one day and hence they are getting costlier with time, renewable energy sources on other hand are not going anywhere hence it is cheap and industries have to spend less money on the process. Power Generation industries have now been receiving active participation from the costumers. With time, energy distribution is only seen growing because of this change in consumer behavior. This has been achieved through efficiency and demand response programs, dynamic pricing and other new options supported by smart grid technology. Energy generation has also increased thanks to implementation of new energy policies and regulatory requirements. Technological advancements such as sensors and energy storage have also helped in achieving growth in the field of energy distribution. Depending on region to region, the growth in this industry has been different. Some countries are totally dependent upon renewable sources for power supply while in other countries it has just started to pick up but they still go for more traditional methods. But they will adapt over time. While in the past, power generation used to be easy to predict today itâ€™s been more difficult. With change in time and methods itâ€™s been easier for utilities to predict energy consumption because huge data is available and companies have started to apply new methods of analytics. These non renewable resources of energy have turned the tables on the traditional methods and have knocked out the century old practices of power generation in a typical and traditional fashion. With such drastic changes and major changes in ideologies coming our way, it will be interesting to know what the future holds for this industry. By : Marcos Esteban