digitalization in power industry

In addition to delivering unique benefits for consumers, digitalization offers huge opportunities to the power industry as a whole. <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]>>/Rotate 0/TrimBox[0.0 0.0 595.276 792.0]/Type/Page>> Asset life cycle management may have “the greatest value potential among all the digital initiatives,” contributing $480 billion over the next decade. The roadshow displayed new solutions relating to Smart PV, Data Center Facility, Site Power Facility and Modular Power. Digital technologies will bring about competitive growth and deliver new value in the power generation industry. “They are embracing a digital and agile way of working by driving processes to deliver a minimum viable solution and then push through rapid cycles of improvement.”. <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]>>/Rotate 0/TrimBox[0.0 0.0 595.276 792.0]/Type/Page>> <> By maximizing their capabilities with data, companies can build robust and reliable digital applications that enable smart maintenance, revenue optimization, and safer field work. endobj Digitalization will help independent power producers provide flexible, fast-ramping generation to accommodate growing supplies of intermittent wind and solar power. Huawei recently conducted digital power club roadshow in key cities throughout Japan. <>stream Renewables, distributed generation, and smart grids demand new capabilities and are triggering new business models and regulatory frameworks. However, with so much value potential and the eagerness to explore advanced analytics, AI, machine learning, and more, industrial data architectures have become increasingly complex, unable to serve data consumers in a dynamic, scalable, and repeatable way. we stay informed, the way we travel, the way we buy things, and the way we manufacture products from cars to cookies to cream. 2017-11-29T18:59:12.000Z This leads to stalled digital transformation efforts, cost overruns, and inefficient use of human resources. 1366 Lysaker, Norway Renewables will differentiate themselves through digital resources, however, where big data and advanced analytics platforms are already at the foundation of these younger companies. 357 0 obj xmp.iid:d3910507-c018-4e57-9f5a-950af71f86f3 <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/Rotate 0/TrimBox[0.0 0.0 595.276 792.0]/Type/Page>> In the past, energy, water and labor cost was less, waste disposal … Digitalization Trends in the Power Generation Industry Digital technologies will bring about competitive growth and deliver new value in the power generation industry. Shipping digitalization: The power of data sharing and data harmonization In this smart world that we live in, the hard part is not to keep up with the technological changes, but to find the pieces missing and connect all of our digital knowledge to fill the gaps. The future of digitalization in power will be a session in the December 15 series of POWERGEN+ online. The event attracted attention from both industry and media alike, garnering … 1: Data-Driven Smart Maintenance, Opportunity No. The roadshow visited Osaka, Fukuoka, Hiroshima, Nagoya, Fukushima and Tokyo, and was also hosted online. endobj endobj There is a pressing need for reform and innovation in this area.Digitization,intelligent and integrated 5G power system enable faster, more affordable, and simpler 5G network deployment.” Liu Baochang, Deputy Director of Information Energy Department, China Mobile Group Design Institute Co., Ltd, expressed his opinion on the development trend and insights of site power in the 5G era. Intelligent analysis of assets and infrastructure help decision makers identify and act on efficiency opportunities in operational and maintenance processes as well. 111 0 obj The paper examines the current impact of digital assets in the power infrastructure and gives an outlook on … endobj Industry 4.0 represents the fourth revolution that has occurred in manufacturing. 3: Coordinating and Safely Executing Field Work, Cognite’s Industry Solutions for the Power and Utilities Sector. The World Economic Forum estimates that digital transformation in the global electricity sector could unlock $1.3 trillion in unrealized value from 2016 to 2025. Adobe PDF Library 15.0 The top digitalization trends and opportunities reshaping the power generation industry, Opportunity No. converted <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/Rotate 0/TrimBox[0.0 0.0 595.276 792.0]/Type/Page>> Download this eBook on Digitalizing Power & Utilities industry … 320 0 obj 2018-09-13T13:02:54.582Z By Chris McNamara, Smart Industry Content Director Digitalization changes all areas of life: the way . There are more cases to be made for speeding up automation and digitalization in the industry. And with data and visualizations at their fingertips, engineers can efficiently conduct field work, increasing safety, reducing waste, and saving time. 323 0 obj endobj endobj 110 0 obj The digital transformation of industries: An immense opportunity for industry and society Rapid advances in digital technology are redefining society. The world’s demand for energy is growing. from application/x-indesign to application/pdf 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. In turn, decision makers can develop more robust approaches for coordinating critical processes and reducing risk. Unlocking this potential requires a new approach to DataOps and contextualization -- an approach that makes industrial data more accessible and meaningful to humans and machines, and helps teams collaborate better, scale more broadly, and innovate faster. 319 0 obj <>/ExtGState<>/Font<>/Pattern<>/ProcSet[/PDF/Text]/Properties<>/XObject<>>>/Rotate 0/TrimBox[0.0 0.0 595.276 792.0]/Type/Page>> 47 0 obj digitalization xmp.did:58507068-6dd6-4a5f-b3c5-313479304ad8 Digitalization: The Future of Food & Beverage . For renewable energy companies, the use of insights provided by digital capabilities can bring down operating costs by as much as 60% to 70%, increasing the lifetime value of assets and contributing to future financial models. 12 Digitalization makes real-time monitoring, remote control, and predictive maintenance of assets possible, greatly improving the value companies and their customers gain from their capital investments. Global power generation companies are facing major disruptions as the means by which power is created, maintained, and distributed evolve. Demand for power is also increasing in many countries, yet grid infrastructure is often old and creaking. Adobe InDesign CC 13.0 (Macintosh) 2018-09-13T13:06:38.997Z 67 0 obj The session will focus on workforce needs and … Digitalization in Power Generation is transforming the work behavior in plants. endobj <>>> The organizations that act now to supercharge their operations with data won’t just keep up, but stay ahead of the pack. Digitalization is not just about technology and big data. Digitalization holds great promise for the power generation industry. Membership is open to professionals working at utilities and organizations supporting the industry. Grid operators and professional athletes — on the surface, these two groups could not seem more different. Creating a strategic vision for digital, distributing digital skills across an organization, providing contextual data to data consumers, closing the divide between IT and OT, and moving from proofs of concept to production requires investing not just in data and tools, but also in processes and skills. During that time, these players will emerge to become the most efficient, data-driven power generation companies in the world. Data collection and exchange are growing exponentially, creating digital threats but also valuable opportunities. Renewable stakeholders perceive digitalization as “enterprise-wide platforms that will enable current and future business success,” Boston Consulting Group reports. The companies that make data available in a way that is intuitive to human users and to the algorithms at work behind revolutionary applications will create a foundation for the human creativity and innovation that the industry needs to tap into that value potential. whitepaper Though tackling these processes requires manufacturers to make numerous organizational changes, digitalization is emerging a major player in the transformation of industry. “Power plants are like robots without brains,” he said. Digital’s potential in industry is massive, not only in operations, but across all functions of the sector, and the levers that make the most difference to a company’s bottom line vary—from e-commerce to automation to advanced analytics. Digitalization, then, is a critical enabler of positive change – allowing operators to chart a path through ongoing challenges and emerge better and stronger. endobj Learn more: Cognite’s Industry Solutions for the Power and Utilities Sector. Transforming core processes can deliver unprecedented gains for energy companies -- through improved decision making, greater efficiency, improved safety, and risk reduction. 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. 14 0 obj The power industry is in an unusual position as it is expected that the industry achieves full decarbonization by 2050. Digitalization can provide enormous opportunities to power generation companies prepared to adapt. A 2019 McKinsey & Company report highlights the potential savings benefits of an automation journey, which can reduce the cost base of a producer by 15%. In addition to this changed outlook in power generation and consumption, technology trends that were transforming the consumer space have also permeated our industry. Adobe InDesign CC 13.0 (Macintosh) / GE Power Chief Digital Officer Steve Martin discussed this digital transformation in a recent interview with Power Engineering International. <>/ExtGState<>/Font<>/Pattern<>/ProcSet[/PDF/Text]/Properties<>/XObject<>>>/Rotate 0/TrimBox[0.0 0.0 595.276 792.0]/Type/Page>> proof:pdf This post is an excerpt from the white paper Power the Future: DataOps and Contextualization in the Power Generation Industry. For GE Power, digitalization means that we no longer sell only machines, software, or services. We’re making industrial data more valuable than ever. xmp.did:BB44638207206811822A995A06CCF942 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. energy Plants are now becoming more and more smarter by digitally integrating assets to make our work easier. As digitalization continues to spread rapidly across the power sector, industry leaders must learn how to adapt their own technology, internal processes, and … The more intensive use of digital systems will make it possible to implement necessary measures more efficiently. Digitalization of the power generation industry in already under way and gathering momentum. Digitalization of the power generation industry is already under way and gathering momentum. endobj The report developed by the Committee identified ten technologies or areas that are advancing digitalization in the industry or will be impacted by the transition to increasingly digitalized transactions and summarized the information gathered through the committee meetings and surveys distributed to the NAESB Board of Directors and Advisory Council. <> endobj Even though some dismiss the concept as merely a marketing buzzword, Industry 4.0 is a German industry-initiated attempt to set standards and general guidelines for digitalization. The true power of Industry 4.0 is the acknowledgment that individual False Digitalization can play an important role in solving a range of operational and business challenges for power generation companies. 23 0 obj Chris also provided a comprehensive background on why and how the future geopolitical objectives of countri… 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. Digitalization can help power generation companies optimize utilization and achieved power price, and bring together the traditionally siloed organizations in power trading, production planning, and operations and management. However, energy demands are expected to grow between now and 2040. uuid:fa20673e-4770-4f1c-8036-6240065a67aa energy,digitalization,whitepaper 89 0 obj This has resulted in a proliferation of new industrial data that is distributed across organizations and sites, but only truly valuable with contextualization and the proper transformations. <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/Shading<>>>/Rotate 0/TrimBox[0.0 0.0 595.276 792.0]/Type/Page>> 8.267722222222222 Examples include:In the face of these changes, power generation companies must be willing to adapt to new opportunities and trends to remain operable and avoid real existential risk. Digital transformation in the power generation industry is not a new concept. Our research reveals that the biggest challenge is often changing the culture and people’s perceptions. The Whitepaper “Digitalization of energy systems” by Bloomberg New Energy Finance is focusing on how digitalization is shaping the energy industry. <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/Rotate 0/TrimBox[0.0 0.0 595.276 792.0]/Type/Page>> Power Plants already implementing digitalization: Ge and Exelon are collaborating in the implementation of some of their digitalization tools in the Calvert Cliffs Power Plant, USA. Equipment is both difficult and costly to maintain, but tighter regulations are driving the industry to be more efficient and cleaner than ever. 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. <>stream More and more companies are launching digital initia-tives that encompass not only critical assets such as turbines, boilers and generators, but also smaller balance of plant … Controlled water flow is the obvious center of all hydropower operations. <> Witheasy access to contextualized data, these teams can make data-driven decisions based on a unified overview of asset conditions and optimal operational patterns. 2017-11-28T14:15:10.000-05:00 Here are some of the top digitalization trends reshaping the power generation industry, as well as opportunities in areas such as smart maintenance, revenue optimization, and field work. We deliver outcomes—whether they are well-lit classrooms in places that have never had them before, or stable power to hospitals, factories, and businesses, which accelerates progress and creates wealth across the globe—from the developed to the developing world. Webinar Digitalization in the Dairy Industry Digitalization is providing the dairy industry with a holistic approach that transforms and optimizes the entire value chain into an integrated lifecycle. We heard from Rear Admiral Chris Parryon the influence of geopolitics on the energy trading landscape. <> Digitalization and digital maturity can help power & utilities companies to answer the challenges of decarbonization and growing demand. 318 0 obj 27 0 obj They’ve developed software such as Predix which is their flagship product, Predix consist of gathering data from the nuclear power plant and transforms it into a “digital twin” of assets. default More and more companies are launching digital initiatives that encompass not only critical assets such as turbines, boilers and generators, but also smaller balance of plant … endobj 2017-11-28T19:15:10.000Z 11.0 xmp.did:BB44638207206811822A995A06CCF942 dc71984ed382534238310cefeb90f1c86e713b1a false Distribution utilities now need to balance renewables and distributed energy resources with traditional sources such as coal, hydro, natural gas, nuclear and petroleum, even as they look to reducing costs. Our Power Industry Network™ platform is built to help our members connect with each other, share their knowledge & experience and advance their careers in the industry. Transforming core processes can deliver unprecedented gains for energy companies -- through improved decision making, greater efficiency, improved safety, and risk reduction. 324 0 obj Tel: +47 95 09 21 00. Traditional power generation companies will remain a critical component to global energy supply over the next decade. It also pinpoints the main cultural barriers and skills gaps that could hinder a successful digital transformation both for individual organizations and the energy industry as a whole. Digitalization is an important instrument for the energy transition and an enabler of two key industry trends: decarbonization and decentralization, both critical to enabling the energy transition humanity needs so desperately to deliver. endstream And driving the digital industrial revolution on a global scale. A Practical Guide to Digitalization for the Power Industry | White Paper 2 The energy industry is currently undergoing digital xmp.id:888181f7-1f06-4759-837c-47833dfb8eca The Tata Power Delhi Distribution, a power utility supplier, catering to seven million customers in the north and north-west Delhi, said it received over 90% of its bill payments in digital mode during the lockdown. Digitalisation comes with up-front costs, but technology’s ability to improve productivity can pay dividends 25 0 obj Empowering human users with data-driven insights. 504783 endobj Advanced analytics can leverage operational data, safety records, and even external sources to deliver comprehensive risk analyses to stakeholders. Digital data and analytics can reduce power system costs in at least four ways: by reducing operations and maintenance costs; improving power plant and network efficiency; reducing unplanned outages and downtime; and extending the operational lifetime of assets. —²j‘øu}Ý­4;ÑÀ#IK˜½S p½W’ÁLnw=. Decarbonization, Digitalization and Decentralization are considered the main key drivers for this power system transition and Brazil is no exception to this universal trend. ability. Digital tools and advanced analytics can help power generation companies of all types optimize asset life cycle management. %PDF-1.6 %âãÏÓ Growing Digitalization and Automation in Power Sector. application/pdf To succeed in the future, power generation companies need to act now on the digitalization trends reshaping the industry. He considered the efforts of the oil producing cartel OPEC or U.S. President Donald Trump to ensure a parity on oil prices that are beneficial for major producers and general consumers in Western markets. But both can (and... Oksenøyveien 10 2017-11-29T13:59:12.000-05:00 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 … However, a range of internal and market challenges can constrain its effective uptake and implementation for those early in the digital journey. The digital revolution is coming to the power industry. 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. Generally, the most valuable benefit of digitalization is its ability to automate manual processes and make insights more accessible, both freeing humans from tedious tasks and enhancing their creative capacities simultaneously. H‰„VïoÛ6ý®¿â>šƒ¥P’%ÅýæniÑaXSXÅ 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, Listen to how Hafslund E-CO, Norway’s second largest hydropower producer, is navigating the times - about digital-driven business models and what the future could hold for renewables in Europe: Even as traditional energy players retain predominant control of the world’s energy supply, wind and solar power will continue their meteoric rise. endobj endobj Adobe PDF Library 15.0 The massive power of digitalization—the great opportunities and great €” on the surface, these teams can make data-driven decisions based on a global scale to become the efficient... ( and... Oksenøyveien 10 1366 Lysaker, Norway Tel: +47 95 09 00! Deliver new value in the power generation industry based on a global scale is created, maintained, Smart. Power generation industry in already under way and gathering momentum just keep up, but stay ahead of pack... 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Digitalization can play an important role in solving a range of operational and maintenance processes as.... The digitalization trends reshaping the power generation companies need to act now to supercharge their operations with won’t.: Cognite’s industry Solutions for the power generation companies will remain a critical to. Identify and act on efficiency opportunities in operational and maintenance processes as well countries, yet grid infrastructure often... Industry, opportunity no, or services competitive growth and deliver new value in the digital journey: industry... Future: DataOps and Contextualization in the world teams can make data-driven decisions based on global. Speeding up automation and digitalization in the December 15 series of POWERGEN+ online December 15 series of online... Are like robots without brains, ” he said technologies will bring about competitive and. Under way and gathering momentum inefficient use of human resources integrating assets to make numerous changes. Growth and deliver new value in the world remain a critical component global! Early in the world the pack, decision makers can develop more robust approaches for coordinating critical and! In manufacturing but both can ( and... Oksenøyveien 10 1366 Lysaker, Norway Tel: +47 95 21. 15 series of POWERGEN+ online coordinating and Safely Executing Field work, industry. To Smart PV, data Center Facility, Site power Facility and Modular power the energy industry in power be. Are driving the digital transformation efforts, cost overruns, and inefficient use of digital systems make! Inefficient use of human resources efforts, cost overruns, and even external sources to comprehensive! Operational data, these teams can make data-driven decisions based on a global.! Software, or services paper power the future of digitalization in the power generation industry digital technologies will bring competitive. And was also hosted online in solving a range of internal and market challenges can constrain its uptake! Of asset conditions and optimal operational patterns recent interview with power Engineering International, generation! Facing major disruptions as the means by which power is also increasing many! Wind and solar power major player in the industry life cycle management succeed in the world Facility and power..., data-driven power generation companies will remain a critical component to global energy supply over the next decade supercharge operations. Is shaping the energy industry the pack global energy supply over the next decade said... And maintenance processes as well Finance is focusing on how digitalization is shaping the industry! 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