The pace of technology change is increasing
The pace of change is fast, with new ideas popping up every week. Some will stick and some won’t, however it’s fair to say that with increasing digitalisation and fuel source shifts this speed is only likely to increase. It doesn’t seem that long ago that batteries were just for milk floats and golf buggies!
How you plan for future technology switches is important. Although assets may last a long time, regulatory and technology demands may force change.
Customer sentiment can change rapidly
Many companies are already stealing a march on others in terms of customer expectation. In my previous blog I discussed how customer expectations of companies are increasing. There are also plenty of examples of some recent step changes in companies moving towards decarbonisations such as Lego which has announced going zero carbon across its operations.
Changes in customer sentiment have impacted companies in many other areas – take single-use plastic for example, where customer sentiment was hugely impacted by the BBC’s Blue Planet series and has driven massive upheaval in consumer patterns and demands on business, especially in retail and service industries.
A question now for businesses operating in city centres or built-up areas: are you ready if customer sentiment suddenly shifts on carbon emissions or local air quality?
There are still some ‘no regrets’ decisions – so why not make them?
In my previous blog on energy futures I talked about the need to seek ‘no regrets’ decisions when investing in energy assets; for example, heat networks enabling easier future asset switches and choosing plant that can easily have NOx removal fitted in the future.
But don’t forget it is easy to get lost worrying about future trends and miss the obvious ‘no regrets’ options that could be chosen right now; energy efficient lighting, insulation, batteries and photovoltaics are just some of the smaller switches that can help future proof a business from coming changes in our energy world.