Over the past nine decades of the electrical industry, you may notice that the market is not so impassive and unadaptable. New demands, new techniques, and new technologies continue to disturb the industry.
The electrical grid in many countries will see an upgrade and outfitting with enhanced control and communication technologies. Distributors can gain extraordinary profits from this investment, but industrial, residential, and commercial markets will experience significant results also.
Competitors with networking companies become new players. Aside from the installation of smart grids, utility companies will upgrade their training and development systems, and change their hardware for power to flow across the grid in different ways. They will invest in different equipment utility distributors.
Traditional distributors will have new products that reinforce the demand response programs of the utilities. Such programs include smart metering and control systems that are beginning to make their way to the industrial, commercial and residential markets. The products are important in allowing individual electrical loads to connect with utilities so that the latter can improve the overall load on the distribution grids.
Recent radical advances provide a hint on the future of solid-state lighting. Organic light-emitting diode (OLED) is an important focus of the research and development at universities and lamp companies. It is slowly creeping into the market through ultra-thin TVs, cameras, and cellular phone displays.
At present, the technology faces two important challenges: its composition and cost. The organic light-emitting diode is composed of an alloy indium tin oxide. Indium is expensive, rare, and not recyclable. Researchers have suggested the use of light-emitting electrochemical cell, which is inexpensive and consists of carbon material graphene.
Quantum dot is another technology that shows promise. It is a minute crystal made by combining cadmium, sulfur, zinc, and selenium. It emits light of different colors, depending on the material used and the dot size. A few companies are using quantum dots to convert blue LEDs to a more natural and warmer light.
Different proposals in handling charging of electric vehicles are in progress. But, it may take some time before a single technology can satisfy the demand. Homes need to make an enormous service upgrade to charge these electric vehicles.
Service stations need power handling capabilities similar to a substation level. Also, they may use wind and solar generation technology. Manufacturers have already announced initiatives to tap this emerging market.
Distributors of electrical power face demand from consumers to provide proof of their green commitment. Companies and associations made recent announcements about documenting the supply chains’ environmental impact.
A strategic plan called for voluntary industry initiatives to lessen greenhouse emissions. A survey conducted revealed that only 48 of the 240 industry suppliers have means to measure greenhouse gas emission, and these suppliers have developed voluntary goals to take steps in reducing their emissions.
Major consumer groups demand distributors to take a proactive step in investigating the generation of carbon and the consumption of water and energy to develop a plan to lessen these factors over time.