December 20, 2020
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digitalization in power industry

H‰„VïoÛ6ý®¿â>šƒ¥P’%ÅýæniÑaXSXÅ Controlled water flow is the obvious center of all hydropower operations. endobj 319 0 obj Chris also provided a comprehensive background on why and how the future geopolitical objectives of countri… The massive power of digitalization—the great opportunities and great Learn more: Cognite’s Industry Solutions for the Power and Utilities Sector. The value potential is perhaps the greatest within the following three areas: McKinsey estimates technology-enabled operations that include “workflow optimization, condition-based maintenance, process digitization, and agile working” can increase plant efficiencies by 3% and reduce average generation costs by 5% to 20%, depending on the utility. endobj It is important to point out that digitalization in the power industry is not only about what is happening at the distribution\ഠand consumer level.\爀屲Equally important are the ongoing and accelerating developments in the power system at large:\爀屲Extensive對 use of monitoring data, broadband communication and control, and advanced power electronics, enable a more dynamic, efficient \ൡnd … 47 0 obj Our research reveals that the biggest challenge is often changing the culture and people’s perceptions. In addition to this changed outlook in power generation and consumption, technology trends that were transforming the consumer space have also permeated our industry. Renewables, distributed generation, and smart grids demand new capabilities and are triggering new business models and regulatory frameworks. Demand for power is also increasing in many countries, yet grid infrastructure is often old and creaking. <>/ExtGState<>/Font<>/Pattern<>/ProcSet[/PDF/Text]/Properties<>/XObject<>>>/Rotate 0/TrimBox[0.0 0.0 595.276 792.0]/Type/Page>> The true power of Industry 4.0 is the acknowledgment that individual Digitalization will enable these companies to close the gap on business performance with meaningful advancements in data-driven planning, process optimization, improved safety and maintenance execution, and intelligent asset life cycle management. <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/Rotate 0/TrimBox[0.0 0.0 595.276 792.0]/Type/Page>> Digitalization of the power generation industry is already under way and gathering momentum. Technological advancements and innovations driven by rapid electrification of segments like transport, expansion of renewable and digitalization of the grid are transforming the power sector. application/pdf The top digitalization trends and opportunities reshaping the power generation industry, Opportunity No. 4ÃÀP´ÍN"SJÿ~GŠ”´îÅã½{ï/yŠ(P(–E’UTË"úTôݼ_Sؚ¨¤yRUËb‘‚OÖñmRÐ|IËâe’‹¸Yï(˜Ü}OѧèmÝüŠ ¹Ôý€áj¸©Ó(~¬7MhZ@Í¡rp, The main topics of the VGB Conference Digitalization in the Wind Industry, will deal with the reduction of installation and operating costs of wind power plants as well as the increase of operational safety and reliability. Digitalization Trends in the Power Generation Industry Digital technologies will bring about competitive growth and deliver new value in the power generation industry. Digitalization and digital maturity can help power & utilities companies to answer the challenges of decarbonization and growing demand. Tel: +47 95 09 21 00. The paper examines the current impact of digital assets in the power infrastructure and gives an outlook on … 324 0 obj Digitalization can provide enormous opportunities to power generation companies prepared to adapt. 1: Data-Driven Smart Maintenance, Opportunity No. The organizations that act now to supercharge their operations with data won’t just keep up, but stay ahead of the pack. For decades, ideas, technology, and resources have poured into digital programs aimed at curtailing the impending pressures caused by decreasing demand, decarbonization, and decentralization of power generation sources. The plummeting cost of advanced technologies (a top-of- the-range smartphone in 2007 cost $499; a model with similar specifications cost $10 in 2015) is revolutionizing business and society. To succeed in the future, power generation companies need to act now on the digitalization trends reshaping the industry. 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