Event round-up: Quantum Computing in Energy & Utilities
On 26 January 2023 we held an event focusing on the opportunities for quantum computing applications in the energy and utilities sector. We will uncover its potential, viability, and challenges.
The UK is developing strategies in emerging technologies that techUK continuously encourage to align to key national priorities such as levelling up, net zero and building a science and technology superpower.
Background
Quantum computers have the potential to deliver speeds for these calculations that are millions of times faster than today’s most powerful ‘classical’ computers. By using the quantum concepts of superposition and entanglement they enable multi-dimensional computing that can simulate the true complexity of the subatomic world. It is a paradigm that will transform our ability to understand and model.
Energy demand will continue to increase in order to facilitate electrification of heat and transport. There is set to be a 500% increase in data traffic over the smart meter network over the next four years, according to the Data Communications Company (DCC).
With energy demand and digitalisation of the energy system we will see rapid increase of volumes of data and a need for system optimisation. Traditional computational power may not be able to process all data nods needed to efficiently run the network.
On the Day
We heard opening remarks from our three speakers:
- Andy Mason, Sales Director at D-Wave Systems
- Daniel Goldsmith, Quantum Computing Technologist at the Digital Catapult
- Kate Marshall Developer @ IBM Quantum Global Technical Ambassador Lead at IBM Quantum
Our speakers discussed current applications of quantum technology in the energy and utilities sector such as in optimisation, processing data, derivative pricing and spot pricing in energy trading, and many more.
Our expert panel spoke in length about how to approach the technology and start thinking about its applications. Firstly breaking down the problem you are facing, analysing the challenge you are trying to address and then what technology applications may be most appropriate.
Some of the challenges raised were skills and up-skilling people. Our experts discussed how they approach this issue and the academic institutions the work with.
Decarbonisation of the utilities sector is a key concern, and the panel discussed how quantum computing addresses this challenge as well as its own processing.
The full event recording is available below:
Quantum Campaign
As part of this event, we published articles from industry on the topic. You can read the blogs here:
- Are quantum technologies relevant for the energy and utilities sectors? (Guest blog by Digital Catapult)
- Utilities’ Increasingly Complex Challenges – Is It Time to Turn to Quantum Computing? (Guest blog by D-Wave)
- Building energy security with quantum computing (Guest blog by Objectivity)
- Is 2023 the year we cross the quantum rubicon? (Guest blog by CGI UK)
- The Quantum Computing impact on digital security, and why the time to prepare is now (Guest blog by Entrust)
- Quantum computing for managing a net zero grid (Guest blog by Smith Institute)
Teodora Kaneva
Teodora’s rich background varies from working in business development for a renewable energy lobbying association in Brussels to the fast moving technology innovation startup scene in the UK.
Laura Foster
Laura is techUK’s Associate Director for Technology and Innovation.
