SIEWConnects@Oliver Wyman: The Future Grid – Key Insights on ASEAN's Energy Transition and Next-Gen Technologies

by User Not Found Aug 10, 2023, 15:14 PM

The energy landscape is evolving as Asia’s energy transition towards net zero grows. At SIEWConnects@Oliver Wyman: Fostering Sustainability, Resilience, and Innovation in Grids of the Future, energy leaders shared their views on how the grid of the future would look like, potential challenges and the technologies and solutions needed

Picture a world where energy grids seamlessly interconnect, driven by cutting-edge technologies that unlock unparalleled efficiency and sustainability. The energy landscape of tomorrow is not just a pipe dream. It is a tangible reality that government and industry leaders are diligently working towards—from the ASEAN Power Grid to the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP).

At SIEWConnects@Oliver Wyman held on 25 July 2023 in Singapore, energy experts delved into the possibilities, challenges, and next-gen technologies and capabilities that will help shape and power Asia’s energy transition towards net zero.

Themed “Fostering Sustainability, Resilience, and Innovation in Grids of the Future”, the session featured valuable insights from Dr Matthew Rowe, Director, Power Grids, Asia-Pacific, DNV; Mr Jan Stuerzl, Vice President, Sales & Marketing for Grid Integration, Asia, Hitachi Energy; and Mr Alvin Lim, Deputy Director, SP PowerGrid Ltd. Mr Eddison Lee, Principal, Energy and Natural Resources, Oliver Wyman, moderated the panel discussion.

Here are five key takeaways:

  1. Flexibility fuels renewables adoption in Asia

    "An interconnected grid is a resilient grid," Dr Rowe said, adding that flexibility will be pivotal in addressing diverse system demands across ASEAN. Different countries will have different challenges with regard to grid capacity and intermittency. He added that by exploring innovative approaches and enabling assistance, stakeholders can unlock the full potential of renewable energy adoption, propelling the region towards a sustainable future.

    Agreeing, Mr Stuerzl said this diversity of challenges must also be met with a diversity of technologies and solutions.

  2. Collaborative solutions for grid stability

    Mr Stuerzl highlighted potential grid stability issues, including network congestion, system inertia, system strain, and voltage ability, which customers may encounter. To address these challenges, he said all stakeholders, from investors to regulators and utilities, must stay informed about the latest technologies and solutions available.

    By proactively seeking out the right solutions, they can ensure a more seamless transition towards renewables adoption. Mr Stuerzl also underscored the importance of collaborative efforts among stakeholders, investors, regulators, and utilities to identify suitable technologies and solutions for grid stability.

  3. Striking a balance for reliability and investments

    Singapore's land constraints necessitate the need to diversify its energy sources, including renewable energy imports. Mr Lim highlighted that this has to be supported by a resilient and reliable power grid. For this to happen, strategic investments must be secured to ensure a sustainable energy future.

  4. Electrifying mobility for a greener tomorrow

    As the momentum towards electric vehicles (EVs) grows, Mr Stuerzl emphasised their significance in driving decarbonisation efforts, as transport is a huge contributor to greenhouse gas emissions. However, he added that the infrastructure needs to be in place to ensure a successful EV adoption.

    This will require rigorous planning of the charging infrastructure as well as intelligent pricing that takes into consideration consumer needs to avoid impeding consumer adoption of EVs, said Dr Rowe. "The relationship between the consumer and the grid becomes closer than ever before."

    The key challenge, said Mr Lim, is to anticipate the demand for charging.  There is also a need to consider where the chargers and network panels should be located to ensure convenient access for EV users and to maximise charging efficiency, he added.

  5. Innovating the grid for digitalisation

    Mr Lim highlighted the digitalisation wave sweeping Asia, with utilities increasingly growing their digital infrastructure and capabilities to make the grid smarter. He shared that SP Group employs the Smart Grid Index to measure how smart power grids are. He also noted that utilities companies are harnessing data analytics and digital twins to optimise their network management and to meet consumer demand more efficiently.

    Digitalisation has also allowed utilities to empower customers to be more sustainable, and this has become a game-changer, said Mr Lim. He noted that utilities are releasing data to consumers about their energy consumption, fostering awareness of their carbon footprint. By making customers stakeholders in being more energy efficient, utilities create a collaborative ecosystem where all participants work towards supporting broader net zero efforts.

Looking ahead to SIEW 2023

Want to hear directly from the energy experts, decision-makers and thought leaders on their insights and perspectives? Join us at the Singapore International Energy Week (SIEW) 2023, taking place on 23-27 October. Register here.