Sustainable Energy continues to gain momentum. But is it poised to overtake carbon energy in the years ahead? The answer may lie in the adoption of disruptive technologies such as energy storage. 

In the third study from the new Moving Forward research series, Panasonic Corporation of North America assesses how senior technology decision makers view Sustainable Energy, the technologies driving it forward, and the impact it will have on industries such as energy & utilities and building & construction. Panasonic is deeply engaged in these technologies.

That’s important because when you’re creating entirely new experiences, chances are you’ll need to combine many of these technologies into an integrated solution. Findings from this research provide insight into the investments other organizations are making and the challenges they face.

Across all industries, moving to renewable energy is a priority among those we surveyed. In fact, out of 10 leading disruptive technologies making an outsize impact on the world today, renewable energy is one of the most highly adopted – along with mobile devices, apps & commerce, the cloud and the Internet of Things (IoT).

Almost half of the companies in our study have already invested in renewable energy technologies, and almost three in five intend to do so in the near future.

Energy and utility companies, which made up a subset of the companies surveyed, expect that meeting future renewable demand will be a challenge as growing demand outpaces supply. In fact, fewer than one in three believe they’ll definitely be able to increase renewable energy production to meet consumer needs.

The number one challenge that they see? Affordable materials. Affordability and other issues will hinder growth of green energy in the short term, according to respondents, who predict that it will account for less than half the total energy produced in the next five years.

One technology that’s widely seen as an important contributor to Sustainable Energy adoption is energy storage. It’s playing a stronger role in Sustainable Energy growth than even government subsidies. Among senior technology decision makers responsible for Sustainable Energy solutions, nearly three in five see affordable energy storage as “transformative.”

Why? Today, solar and wind energy are time-sensitive assets. Most energy produced is either immediately consumed on-site or shared into the grid. By capturing excess energy at peak times, affordable storage can make energy available any time, regardless of when it was generated. Decision makers recognize the potential of this technology and see “cost savings” as the best reason to invest in it.

Some 40% of energy in the U.S. is consumed by residential and commercial buildings, according to the U.S. Energy Information Administration, and the majority of that is from carbon sources. Going green is an increasing priority in building & construction.

Historically, boosting green energy in this area has involved both a carrot (lower electricity costs and tax incentives) – and a stick (government regulation such as net-zero energy codes). Net-zero requires that buildings produce as much (renewable) energy on-site as they consume. California, for instance, has mandated that all residential buildings be net-zero by 2020 – and all commercial buildings by 2030.

While seven in 10 decision makers are interested in technologies that address net-zero, fewer than one in five believe these technologies will be available in the next five years.

For building & construction and energy & utilities – two industries that contribute heavily to building out Sustainable Energy capacity – lack of skilled employees is the #1 challenge to adopting disruptive technologies. No surprise then that more than three in five energy decision makers cite the need for a partner to help integrate technologies as a factor that could drive multi-year growth.

For our part, Panasonic stands ready with Sustainable Energy solutions to help companies move forward. For starters, we’re focused on solving the affordable energy storage challenge. With our billion-dollar investments in the Gigafactory, for example, we’re doubling worldwide production of lithium-ion batteries in a single facility. Scale as much as anything drives savings, and we intend to continue to invest to achieve scale.

As one of the few industry leaders with expertise across the spectrum of disruptive technologies, we’re here to work the full breadth of the sustainable energy market to partner with those that have new ideas or challenges to help them take full advantage of all the benefits.

In the coming months, we’ll continue to share the results from some new research studies. In the meantime, see our overview for an interactive data visualization of technology adoption by industry, and find out which tech is fueling the Integrated Supply Chain revolution.

For more on energy, explore our capabilities and perspectives on Sustainable Energy solutions.

This research was commissioned by Panasonic Corporation of North America and fielded in the U.S. and Canada. The survey included 200 CTOs and other senior technology decision makers in organizations with at least 200 employees.

Much has been written about the leading 10 disruptive technologies that are expected to generate trillions of dollars in economic value in the decade ahead. Panasonic is deeply engaged in most of these technologies. 

We believe that shaping them into integrated solutions is the key to creating entirely new experiences. But how do Chief Technology Officers (CTOs) and other senior decision makers view these technologies? Which do they intend to adopt? And what are the barriers to adoption?

To find the answers, Panasonic Corporation of North America recently commissioned a research series, Moving Forward, on how disruptive technologies are impacting businesses, government agencies and entire industries. We’re pleased to be able to share some of our findings with you now.

Our study shows that many companies have made investments already. Breaking it down by technology, more than four in five have adopted mobile devices, apps and commerce and the cloud, and three in five have adopted the Internet of Things (IoT). Senior tech decision makers believe these three technologies are most critical to their future success. 

But interest is strong in all 10 disruptive technologies, with one-third of companies planning to use seven or more in the near future. Renewable energy, robotics, artificial intelligence (AI), 3-D printing, advanced materials and energy storage are each expected to be a near-term investment for two in five companies. One in five plans to invest in autonomous vehicles.

Senior decision makers clearly understand the risk in failing to adopt disruptive technologies. Across the board, they realize that their businesses could be hit hard if they do not embrace them.  

• Nearly four in five believe industry competitors will pull ahead if they do not adopt or invest in these technologies.
• Seven in 10 are concerned competitors outside their industry could disrupt them. 
• And these decision makers see a wide range of consequences, from falling revenue to unsustainable pricing to an inability to meet consumer demand.

Our net, net: disruptive technologies are not a nice-to-have – they’ve become the price of doing business…and staying in business.

Topping the list of obstacles are complying with government regulations and consumer privacy/security. A lack of skilled employees and lack of expertise for effective implementation are also major concerns. In fact, half of the companies surveyed believe they might need a partner to guide them on how best to adopt and integrate these technologies into their business.  
    
That need for guidance rings true with our own experience here at Panasonic. With our wide range of expertise, Panasonic is uniquely skilled at bringing together these technologies. We’ve seen more and more companies reach out to our technology and industry leaders, seeking our expertise in how to integrate these technologies into the products and experiences they’re developing for the consumer of tomorrow.

In the weeks and months ahead, we’ll be taking deeper dives into this research, with the goal of increasing understanding of how disruptive technologies are impacting Sustainable Energy and Integrated Supply Chain solutions. Stay tuned. 

This research was commissioned by Panasonic Corporation of North America and fielded from December 4, 2017–January 30, 2018 in the U.S. and Canada. The survey included 200 CTOs and other senior technology decision makers in organizations with at least 200 employees.