The year 2017 was the first in history that the addition of renewable electricity generation capacity exceeded 50% of total additions globally, signaling an important milestone in the global energy transition. In the past, renewable energy companies have had to focus on driving down the price of their electricity generation, and their ability to scale the business depended heavily on government policy. The coming years, the dynamics in the market will change. Renewables are competitive and at times even cheaper than other electricity generation, so companies now need to focus on retaining the value created by energy innovations. Rather than driving costs and prices further down, they must strive to avoid commoditization and a race for the bottom. Technology innovation can help create a healthy foundation for the renewable energy business to grow, and judicious use of the right data sources & insight can help drive the right tech choices.
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