By leveraging the power of the digital transformation, businesses can identify areas to reduce unplanned downtime, and heighten predictive maintenance accuracy through transparency and advanced analytics. Maintenance can account for as much as 40% of operating costs for energy companies, and those costs can increase with unplanned downtime and money tied up in carrying replacement parts. Power generators are always looking for sensible cost-saving actions the digital transformation presents a clearer picture of where those savings can be achieved. This enables a thorough view of best and worst cases, and anything in between, to help with decision-making and to test strategies. To stay ahead of the curve, companies should look at many scenarios, based on real-time digital data feeds.
More than half of the world’s data was created in the past year, but less than one-half of 1% was analyzed or used, which underscores the enormous potential of how companies can reap the rewards of digitalization tools and expertise like Siemens’.Įvery organization must find the right balance between boosting profitability when the market is ripe, and curtailing losses when the unexpected descends suddenly. Customers require increased flexibility and smarter energy solutions, turning the promise of big data into actionable resources. The transformation of the energy industry is apparent in the marketplace, with the growth of decentralized energy and the push for cleaner energy sources. It’s all part of the development of smart systems, allowing utilities to improve their service and manage their costs. Some 60% of utilities will focus on transitioning enterprise mobility, looking to capitalize on the increased use of digital devices by consumers who want information while on the go. At least 45% of utilities’ new investment in analytics will be geared toward operations and maintenance of power plant and network infrastructure. Utilities are investing more than 25% of their IT budgets on integrating new technologies with legacy enterprise systems. That’s why Siemens and AES created a joint venture, Fluence, to transform the next generation of energy storage.įor utilities, it means the integration of cloud services, which today make up half of the IT portfolio for more than 60% of these businesses. Energy Storage Monitor 2017 Year-in-Review, says that 1,000 megawatt hours were deployed between 20-and more than 1,200 megawatt hours of energy storage will be deployed in 2018 alone, a nearly 300% increase over last year. The Energy Storage Association, in its recent U.S. Utilities are looking for energy storage solutions, and some states and countries are mandating that higher percentages of storage be utilized during periods of peak electricity demand. IHS, which provides information and analysis to businesses worldwide, projects the energy storage market will top an annual installation size of 40 GW by 2022, an exponential increase from an initial installed capacity of just 0.34 GW in 2012-2013. energy storage market is expected to reach 1.7 GW by 2020, with a value of $2.5 billion. Power generators also are faced with incorporating energy storage into the generation mix. The frequent starts and stops required of today’s turbines can bring more unplanned downtime and provide a challenge to maintenance and upkeep. Many power plants are evolving into renewable load-following units, called upon to quickly bring large amounts of electricity onto the grid when the wind stops or the sun fades. By 2030, 35% of all generation capacity may be customer-owned. Renewables are projected to make up 87% of new power installations by 2030, compared to just 55% in 2010, and 65% of distributed power generation is predicted to come from decentralized sources by 2030, nearly double that of 2010. Worldwide installations of renewable energy, such as solar and wind, are expected to reach 191 GW by 2020-more than double the level of a decade ago-and to rise to 300 GW by 2030. The power generation mix includes more and more renewable resources, and the advent of distributed generation has changed the business model for many local utilities. The traditional role of fossil fuel-powered facilities is being transformed. The energy industry is in the midst of upheaval.