Renewable sources are increasingly occupying a substantial pie of the energy requirements in several countries. This is especially true for Europe, but also increasingly, in North America as well. New resources however, also require a corresponding change in the strategies. There are in total four critical areas, where action now needs to be modified. First of all, new services need to be created to cater to the present realities. These changes need to be aligned with the corporate training and development imperatives. The market participation models for the legacy industry leaders needs to be updated. Some services need to be built in to ensure flexibility. Yet others need to be extremely resilient. The scope of the grid- planning too must be expanded. All grid products and services must get integrated via a common platform. The rate design needs an innovation. Hybrid models can work best in the current scenario. This will help leverage the diverse resources.

Source:https://www.mckinsey.com/industries/electric-power-and-natural-gas/our-insights/less-carbon-means-more-flexibility-recognizing-the-rise-of-new-resources-in-the-electricity-mix?cid=other-eml-alt-mip-mck-oth-1810&hlkid=3b297173de3b45508008d983604ba047&hctky=2657824&hdpid=0f7efac6-7c97-4248-8bdd-6527357dd612

Uploaded Date:02 February 2019