The Australian energy market is becoming a political ticking time bomb, with reliability issues in South Australia, a challenging and changing wholesale energy market and new cutting edge technology disrupting our energy consumption behaviour. In part I of our series – Australia’s Energy Market Disruption, we will explore what Australia’s future energy market looks like, inheriting global ideas and innovations and implementing them to create a lower carbon, less grid dependant Australia.
The conversion of energy generation, energy storage, internet of things technology, artificial intelligence, building and structural design within a deregulated energy market environment such as Australia’s, driving transformation.
Last week we saw two global leaders in innovation Elon Musk, and Mike Cannon-Brooks conversing in Twitter discussing how to solve Australia’s energy problems. Mike is someone from the technology world, who has never been involved in the energy market, but is a thought leader in Australia who knows the importance technology plays in facilitating the evolution of the energy market.
As a technology entrepreneur Elon jumped into the energy market a while ago with SolarCity and its energy products, (Power Roof and Power Wall), along with transportation (SpaceX and the Hyperloop), and Tesla. Elon is a techy and knows that the technology and energy markets are intertwined. As a result, we see the creation of an environmentally friendly vehicle through Tesla that could bring a reduction of 50% of CO2 emissions compared to other fuel sources.
Visionaries like Elon Musk have realised the future is an interconnected ecosystem involving smart grids and eco-practises. At the core of this energy technology revolution is the ability to utilise big data to optimise performance of technology and products.
Technology is the fuse, igniting Australia's energy crisis, and will be at the forefront of our energy revolution. We will continue this journey with you in part II, out next week exploring big data, artificial intelligence, internet of things and utility scale grid reliability and storage.