In the current market scenario, the energy and utility sector is the talk of the town. The energy efficiency programs have been providing operations in several industries for more than 30 years now. The industry is providing a constant change with advanced developments and technologies in the process. Resulting in these energy efficiency program codes and standards majorly follow their savings potential.
Traditional resource acquisition programs are supremely designed to collect the savings in no time with the effectiveness of $/kWh. The market transformation programs are also intended to change the permanent look of the market by creating energy efficiency equipment. The market transformation programs are offering a compelling alternative as the utilities are looking forward to route on the tracks to boost energy efficiency.
In recent times, Illinois, United States released the Future Energy Jobs Act, which transferred the administration of market transformation programs in the state from the Illinois Department of Commerce and Economic Opportunity to the utilities in the state. With this change, ComEd stands the largest electric utility in Illinois to grab knowledge about executions for the market transformation programs.
At the time of the Market Transformation Summit, various themes are emerging across issue areas, providing insights for utilities looking to implement such initiatives.
How is market transformation working in today’s energy efficiency portfolio?
The energy efficiency portfolio holds market transformation and resource acquisition. Both collaborate to work together interactively. Every energy efficiency program showcases a significant involvement in the market.
Resource acquisition programs can dominate markets. It positively has the ability to impact market transformation that often remains unmeasured. Market transformation initiates with resource acquisition programs at crucial levels to enhance program impacts and change.
There are advantages to a broad market approach. Market transformation programs notice loopholes to reach customers or market segments.
