The survey of almost 2000 senior stakeholders in the energy industry resulted to the fact that digitalization financiers and developers are using digital technologies to inform their assessment of the value and risk associated with projects, with technologies such as big data analytics being used to provide insight into optimized forecasting of asset performance, lifetime and generation levels.

In addition, the survey informed that:

  • 30% of finance respondents claim that technology has an impact on the industry, in comparison to just 15% across all energy respondents.
  • 40% of finance industry respondents said they were not using the technology at all.

Yet, despite the overall development of digitalization, the survey showed that there's a lack of clear revenue streams coming from the digital world with uncertainty about clear revenue which could be generated in the future. A lack of senior level buy-in, and a lack of digital mindset.

Lucy Craig, Vice President of Technology and Innovation at DNV GL – Energy commented

Digital technology and digitalization are instrumental to ensure the returns that will drive continued investment in renewable energy, as market mechanisms evolve away from subsidies. But for investors to make their financing decisions with confidence, the finance industry needs to better understand both the risk and opportunity of new technologies and their long-term viability.

For more information on the report, you may click here.