68 INTERVIEW How the power sector can decarbonise The energy industry must achieve net-zero emissions by 2050 despite demand continuing to ramp up. AVEVA’s Ann Moore explains how sector leaders are partnering to build a resilient and agile power infrastructure Power demand is surging across grids everywhere, with global demand likely to grow at least twofold by 2050, according to McKinsey’s Global Energy Perspective 2023: Power outlook report. But the sector can’t just double down on current production methods; the race to meet the Paris Agreement climate change targets by the middle of this century adds immense pressure to decarbonise power sources. The stakes are monumental: the industry must supply twice as much power, this energy must be clean, and the grid must be reliable and resilient. In summer 2024, AVEVA brought together business leaders from across the global power industry at both the Utility Executive Summit (UES) in California, USA, and the Japan Power Summit in Tokyo to discuss the challenges and opportunities they face and conceptualise a strategy for grid infrastructure advancement. Ann Moore, industry principal for power and utilities industry at AVEVA, shares the main takeaways from the event and details the transformation underway across the utilities sector. What is the state of the power industry today? What are the biggest challenges? At the UES event we heard how the industry must tread a fine line between meeting double the current power demand while decarbonising its operations within just one generation. Utility providers must boost efficiency and productivity from evolving grids while fast-tracking net-zero goals amid stricter emissions reductions mandates, climate change events, supply chain disruptions, inflation, security threats and the increasing number of complex grids that draw on diverse energy sources. There are three key issues around grid transformation. First, we need infrastructure upgrades to onboard clean energy, improve reliability and handle renewable and battery storage. Second, with extreme weather becoming more frequent, there are resilience issues around transmission and distribution. Finally, distributed energy resources (DERs), including consumer-driven electrification and advanced technology, will be important to this evolution. Recent outages show what’s at stake. Hurricane Beryl, for example, left more than 2.2 million homes and BY REBECCA GIBSON
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