Finally, this approach might also lend itself well to renewable resources, such as wind farms. Some organizations are already offering products to increase the output from wind facilities. These offerings take a shared-value approach, as the intermittency of wind makes it difficult to contractually guarantee reliable and fixed output. A similar shared-savings approach is also being taken to increase the capability of existing transmission lines.
Such service offerings are still being explored and developed in the power industry, but trends toward digitization and outsourcing suggest that this contractual approach may soon take root. Today, an increasing number of companies are focusing on core competencies, while seeking to outsource other responsibilities to companies with greater expertise and the ability to manage performance risk.
Outsourcing energy may therefore be a logical next step. We could soon see the rapid emergence of such contracts, as well as arrangements that improve hard-to-quantify outcomes (such as wind energy output) in exchange for a fixed price or share of the profits. New digitized platforms increase this potential by providing owners and operators with more confidence concerning critical operating variables. This opens up possibilities that could not have been imagined just a few years ago.