According to POWER, the benefits of microgrids have been increasingly recognized in recent years, as sources of both backup and at times primary power. Utilities, business and neighborhoods are installing a variety of technologies in systems designed to ensure a reliable and resilient supply of power.
Microgrid systems can provide energy security, support sustainability measures, decrease electricity costs for consumers and bring electricity to areas unable to access traditional grids.
Ed Patricoff, Chair of Shutts & Bowen’s International Dispute Resolution Practice Group, believes adaptability of microgrids and the “innovations related to their potential application in diverse settings” are among the reasons the technology will continue to grow.
“The World Economic Forum estimates that digitalization will create $1.3 trillion of value globally by 2025 by increasing asset lifespans, optimizing electricity flows, and creating innovative customer-centric products,” he said. “The digitalization of the electric industry is being propelled, and is helping to facilitate, another trend: the decentralization of energy transactions.”
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About Harold “Ed” Patricoff
Harold Edward “Ed” Patricoff, Jr. is a partner in Shutts & Bowen’s Miami office, where he heads the firm’s International Dispute Resolution Practice Group. Named one of South Florida’s “Most Effective Lawyers” by the Daily Business Review in the Business/Complex Litigation category, Patricoff is recognized as one of the preeminent international commercial litigators in his industry. Patricoff is a Martindale-Hubbell AV® rated veteran litigator who represents clients in disputes across multinational borders. Patricoff is widely known for his experience in domestic and international fuel sales, supply and distribution and the power generation industry. He serves as outside counsel for an international power generation supplier and a global distributor of aviation, marine and diesel fuel.