By Brent Sauser
I grew up learning how to type on a typewriter in 8th grade and later proudly wearing the newest pocket (simple function) calculator from Sears for my college calculus class. I recall being so excited about upgrading my 386 computer to a 40 megabyte internal hard drive with my very own floppy disk drive. On weekends I would take my children to Hollywood Video or Blockbuster to pick out some VHS tape movies. Those were the days!
The relentless forward momentum from Technology has made a tremendous impact on our lives that is undeniable. Many companies have embraced this technological transition and continue to thrive. Others, like the antiquated typewriter and Blockbuster business model, didn’t or couldn’t evolve. They, along with too many others who didn’t recognize the winds of change, remain a dusty footnote to the 20th Century.
Some have come “on board” early and have embraced the movement with new, creative, and innovative products, services, and ways to do business in the 21st Century. However, the major utilities, and in particular power utilities, remain steadfast to the obsolete business practices that made them the protected monopoly that they are, but could risk losing significant revenues and market share if they don’t adapt to the energy conserving trends of its customers. The majority of major reports recently conducted indicate that the movement toward energy reduction and independence is growing, which has a direct impact on utility grid power consumption. The trend is DOWN, not up. Less power demand, less revenues! Gone are the days of simply serving as the local power supply of raw energy from the grid, and the single source for electrical power.
All across the USA many of the power utility’s customers are turning to alternative, renewable energy sources for their power. They are taking advantage of the 30% Federal Tax Credit as well as other State credits to install energy generating or energy saving products. Reports detail the potential revenue losses the power utilities can suffer . . . IF they do not adapt to the trend and reinvent themselves to remain viable in the 21st Century. Two excellent examples of technology adaptation are 3M and IBM. Take a minute to review their origins and how they have adapted to the trends of the times. IBM has gone from a manufacturer of business machines to a worldwide company selling services. Power utility companies are now faced with that same challenge. Will they go the way of Blockbuster and WANG, or adapt like IBM? These next few years will be very telling.
Please CLICK HERE to access an excellent summary report from Accenture regarding the future of the power utility companies and what they must do to adapt to the energy conservation trend. This is a very exciting time to be alive and witness this revolutionary transition to renewable energy resources and energy independence. You know it’s real when “Goliath” is forced to recognize the need to change. We are winning this battle one Net Zero building at a time. Onward and upward!