Itron and Schneider Electric Join Forces to Modernize and Simplify Energy Distribution, Address Energy Transition
Itron, Inc. (ITRI) and Schneider Electric collaborate to digitalize supply and demand management for utilities, enhancing grid flexibility and efficiency. The partnership aims to optimize grid planning and operations by integrating intelligent grid and distributed energy resource solutions. By leveraging data generated at the grid's edge, utilities can increase grid capacity and defer infrastructure investments, benefiting from actionable insights. The collaboration focuses on delivering value across asset management, grid planning, operations, and DER management, supporting the energy transition towards distributed energy resources.
The strategic collaboration between Itron and Schneider Electric signals a significant advancement in grid management, particularly as it relates to the integration of distributed energy resources (DERs). The increasing adoption of DERs, such as rooftop solar panels, battery storage and electric vehicles, presents both challenges and opportunities for energy utilities. This partnership aims to enhance grid flexibility, capacity and efficiency by leveraging Itron's Grid Edge Intelligence and Schneider's Digital Grid solutions.
From an industry perspective, this collaboration is timely. The U.S. Energy Information Administration's projection that the grid's capacity will nearly double by 2050 underscores the urgency for utilities to adopt more sophisticated grid management systems. The integration of these solutions can potentially defer costly infrastructure investments by optimizing existing grid capacity. This is crucial for utilities as they balance the need to meet increasing demand with the pressure to control costs and maintain service reliability.
Moreover, the ability to aggregate and analyze data from DERs can lead to more informed decision-making and proactive management of grid constraints. This could ultimately result in more resilient energy systems, especially in the face of climate change and associated risks such as wildfires. The collaboration between Itron and Schneider Electric is poised to make a substantial impact on how utilities manage the growing complexity of energy distribution and consumption.
From a financial standpoint, the partnership between Itron and Schneider Electric is strategic for both companies. It opens up new revenue streams by addressing a critical market need for advanced grid management solutions. As utilities increasingly seek to integrate DERs into their operations, demand for intelligent solutions that can manage this integration effectively is expected to rise.
The collaboration could lead to a competitive advantage for both Itron and Schneider Electric. By combining their respective technologies, they can offer a more comprehensive solution than competitors who may only specialize in one aspect of grid management. This synergy can potentially lead to increased market share and stronger financial performance for both companies.
Investors should monitor the progress of this collaboration closely, as successful integration and demonstration of these technologies could lead to increased confidence in the companies' growth prospects. This may be reflected in their stock performance, particularly if they can show that their solutions lead to cost savings and improved efficiency for utilities.
The technological implications of the collaboration between Itron and Schneider Electric are profound. By integrating intelligent grid and DER management solutions, the companies are at the forefront of creating a more dynamic and responsive energy infrastructure. This approach aligns with the broader trend towards digitalization and the Internet of Things (IoT) in energy systems.
The integration of Itron's Grid Edge Intelligence solutions with Schneider's Digital Grid solutions is expected to enhance situational awareness and real-time insights for grid operators. This is a significant step in the evolution of smart grids, which are essential to managing the complexity introduced by high levels of DER penetration. The ability to dynamically adapt and configure sections of the distribution grid and engage consumers in energy transactions represents a leap forward in grid management technology.
Furthermore, the focus on behind-the-meter intelligence and demand response programs indicates a shift towards a more consumer-centric energy model. This could empower consumers, or 'prosumers', to take a more active role in energy management, potentially leading to increased energy efficiency and sustainability. The technological advancements from this collaboration are likely to set new industry standards and push the envelope of what is possible in energy management.
02/21/2024 - 08:45 AM
Strategic collaboration digitalizes supply and demand management to maximize grid flexibility, capacity, and efficiency
LIBERTY LAKE, Wash. & BOSTON --(BUSINESS WIRE)--
Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, and Schneider Electric , the leader in the digital transformation of energy management and automation, are collaborating to improve energy and grid management for utilities as homeowners and businesses increasingly adopt distributed energy resources (DER)—like rooftop solar, battery energy storage, electric vehicles and microgrids—at the grid edge. In a stepwise approach, the companies will integrate their intelligent grid and distributed energy resource (DER) management solutions to digitalize the demand and supply of electricity.
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Electricity demand is rapidly increasing due to the electrification of transportation, heating, and more. By 2050, the U.S. grid's capacity will have nearly doubled compared to 2022, according to the U.S. Energy Information AdministrationCanada , grid capacity is projected to reach 226 GW by 2050.
With more DER comes more data generated at the grid’s edge, and an unprecedented opportunity to harness, aggregate and analyze that data to produce actionable insights. Utilities can leverage this awareness to optimize grid planning and operations by integrating Itron’s Grid Edge Intelligence solutions and Schneider’s Digital Grid solutions to increase grid capacity while deferring infrastructure investments. Itron and Schneider are working on dozens of integrated use cases that will deliver value across asset management, grid planning and operations, and DER management, and will work with utilities to integrate their solutions.
“We began collaborating with Schneider Electric to simplify grid management and enable a new generation of applications for utilities that recognize the dramatic changes and escalating demand that await all of us,” said Don Reeves, senior vice president of Outcomes at Itron. “This collaboration will help us realize Itron’s vision for the grid edge—one where meters, transformers and feeders negotiate amongst themselves to achieve localized distribution outcomes, dynamically adapting and configuring sections of the distribution grid while enabling consumers to participate and benefit from these transactions.”
“At Schneider Electric, we’re committed to delivering solutions for utilities that connect everything from grid to prosumer, and this collaboration with Itron is the latest expression of that commitment,” said Ruben Llanes, NAM Power & Grid Segment President for Schneider Electric. “Utilities today need an interoperable, fully connected foundation for intelligent grid operations, and it is inspiring to pursue this future with Itron—one of the most innovative forces in the industry.”
Modern utilities already benefit from Itron’s industrial IoT (IIoT) network solution that collects usage and status data from the point of service. By bringing together distributed and centralized intelligence, grid operators gain greater situational awareness and real-time insights, including key measurements, notifications, and events like downed wires. With this collaboration, utilities can extend energy orchestration to behind-the-meter assets, enabling proactive management of grid constraints when and where needed. Itron’s Grid Edge Intelligence solutions integrate grid analytics and edge DERMS to enhance visibility, such as high resolution, real-time transformer level insights and control with Schneider’s Digital Grid solutions. EcoStruxure ADMS allows grid operators to leverage enhanced outage management capabilities to efficiently detect and respond to faults, mitigating risks from climate impacts, like wildfires. And with Grid to Prosumer DERMS , utilities can maximize value from DER with an end-to-end approach to grid optimization, flexibility management, and prosumer engagement that support today’s energy transition.
Sophisticated grid edge intelligence solutions also support behind-the-meter intelligence—essential as more homes and commercial properties are equipped with DER like solar and electric vehicles. Bloomberg NEF projects 167 million homes and 23 million businesses to be solar users by 2050. These intelligent assets can then be leveraged in demand response programs that reward owners for easing their usage during times of peak demand. With solutions like Schneider Home and Itron’s Distributed Intelligence-enabled Optimizer solutions, prosumers can gain control of their electricity supply as they produce and consume energy, while utilities can optimize the grid to meet evolving needs.
Demonstrations at DISTRIBUTECH 2024, Booths #2633, #2200, #4343
Itron and Schneider Electric will be holding a News Conference at DISTRIBUTECH 2024 on February 27th in Orlando, Florida , where they will also hold demonstrations of their integrated grid edge intelligence, distributed intelligence, GIS, DERMS and ADMS solutions. Those demonstrations, along with additional customer activities throughout the year, will help accelerate grid modernization across multiple regions while validating key use cases for grid intelligence that other utilities can learn from.
About Itron
Itron is a proven global leader in energy, water, smart city, IIoT and intelligent infrastructure services. For utilities, cities and society, we build innovative systems, create new efficiencies, connect communities, encourage conservation and increase resourcefulness. By safeguarding our invaluable natural resources today and tomorrow, we improve the quality of life for people around the world. Join us: www.itron.com .
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On .
Our mission is to be your digital partner for Sustainability and Efficiency .
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies . We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values. www.se.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20240221420542/en/
Itron, Inc.
Alison Mallahan
PR@Itron.com
Schneider Electric
Vicki True
vicki.true@se.com
Source: Itron, Inc.
What is the collaboration between Itron and Schneider Electric about?
The collaboration aims to digitalize supply and demand management for utilities, optimizing grid planning and operations by integrating intelligent grid and distributed energy resource solutions.
How can utilities benefit from the collaboration?
Utilities can increase grid capacity, defer infrastructure investments, and gain actionable insights by leveraging data generated at the grid's edge.
What value does the collaboration deliver?
The collaboration delivers value across asset management, grid planning, operations, and DER management, supporting the energy transition towards distributed energy resources.
What key solutions are integrated in the collaboration?
Itron's Grid Edge Intelligence solutions and Schneider's Digital Grid solutions are integrated to enhance visibility, control, outage management, and grid optimization.
What are the benefits of behind-the-meter intelligence?
Behind-the-meter intelligence supports demand response programs, enables proactive management of grid constraints, and optimizes grid to meet evolving needs.
