Energy
Access to affordable, reliable energy is critical to sustaining and growing economies and is fundamental to quality of life in the modern world.
Energy powers our factories, provides light to study, enables access to clean water, heats our homes, transports products and people, refrigerates foods and medicines, and connects us to information in a digital world. Each year, $5 trillion is spent across the entire energy ecosystem globally, from capturing natural resources through their final consumption by end users.
Multiple technologies, fuels and industries work in concert across the energy ecosystem to provide energy in the form and quantity required, with desired reliability, at the lowest possible cost. The ecosystem can be segmented into exploration and production, fuel delivery and storage, refining and processing, electricity generation, transmission and distribution, and electrical consumption. In the first chapter of this portfolio we will explore each of these segments, share the breadth of GE’s offerings across each, and highlight a few offerings to illustrate GE’s capabilities and leadership.
The energy ecosystem is undergoing unprecedented changes driven by advancements in technology, growing concern for the environment, changing consumer behavior, new policies, changes in fuel availability and pricing, and resource constraints.
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In the second chapter we’ll address nine major transformations that are occurring across the energy ecosystem. The majority of these transformations are at or near the point of consumption and have rippling effects upstream. For that reason, we have ordered the flow of this document to start at the point of electrical consumption and work upstream.
Changes within one segment of the ecosystem can have dramatic effects upstream and downstream. As rooftop solar installations grow, electricity generation occurs closer to the point of consumption. This reduces the amount of transmission and distribution lines needed to connect central plants to end users. The use of a renewable energy source reduces the need for central fossil generation, which in turn reduces the amount of fuel that must be transported, refined, and extracted. Consumers may also start to change their behavior to align periods of peak consumption with times when the sun is shining or the wind is blowing to reduce their cost of energy.
In the third chapter we’ll highlight how GE uses the full breadth of the corporation to offer its customers industry-leading technology, talent, financing, digital expertise, and global capabilities and connections through the GE store. This chapter will share insights to the future of energy and how GE is positioned to be your preferred partner for growth. GE’s breadth and continued investment across the entire energy ecosystem stands out in the industry. GE is committed to lead as a digital industrial company and help customers react, adapt and grow as these energy transformations continue.
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