Find out how digitalisation is transforming the management, operation and maintenance of renewable energy assets, and driving a more efficient renewable world. Hanno Schoklitsch is CEO and founder of Kaiserwetter Energy Asset Management. Digitalisation is transforming the energy industry, by improving efficiency and safety, as well as facilitating the use of renewable energy. As a civil engineer, he is specialized in the construction of hydro power stations which gives him the basic understanding of energy assets. Decarbonization options for ships include measures within logistics and digitalization (which can reduce carbon emissions by 20% or more), hydrodynamics (up to 10%), machinery (5–20%) and most importantly, the choice of fuels and energy sources (0–100%). Advances in digital technology are enabling these dramatic changes to our energy system. We value your privacy. Digitalization has become a worldwide focus and the race to become the global leader in Artificial Intelligence (AI) is becoming increasingly competitive, with many countries, including Canada, China, and the UK releasing strategies in the last twenty months to promote the use and development of AI. Cutting traffic with tech. Globally, utilities are undergoing a cultural shift towards an information-based digital economy — where primary processes are digitalized — and moving away from the traditional business model that requires heavy investment in physical assets. When you visit Clarion Events (and our family of websites), we use cookies to process your personal data in order to customize content and improve your site experience, provide social media features, analyze our traffic, and personalize advertising. GE Renewable Energy Signs Three Year Agreement with … Digitalization provide diversity, and modularity, combining concepts of water as per their usage purpose, Digital Control means using IoT supporting data-driven models that can help integrate … Last week, our CEO Ben van Beurden took part in Web Summit , one … Arnhem, The Netherlands, 30th July 2019 – Renewable energy investors and developers are increasingly turning to digital technology to build effective investment strategies, with almost half (47%) of the finance industry saying they have digitalization … Their potential transformative effects are massive. Digitalization for renewables through ABB Ability™ ABB Ability™ is our unified, cross-industry digital solution, giving you the ability to know more, do more, do better, together. Plan to attend Electrify Europe June 19 – 21 in Vienna, Austria. Lead image credit: CC0 Creative Commons | Pixabay. Download the full white paper here. In other words, remember to bring the right team along on the digital journey. At DNV GL, we see digital technology and digitalization as key enablers of the transition to a low-carbon energy system. (Hyperlink to:https://www.rethink-energy.com/white-paper/digitalisation). Sustainable Entrepreneurship, Renewable Energy-Based Projects, and Digitalization 1st Edition and Publisher CRC Press. By choosing “I Agree”, you understand and agree to Clarion’s Privacy Policy. Digitalization Is Revolutionizing the Renewable Energy Sector. If digitalization has a major role to play at plant level, the implications for the broader solar ecosystem are even more wide-ranging. Successful data analysis can also help investors (banks, funds, etc.) to increase the productivity of their assets. (2016) hold true, CO 2 emissions could also potentially be reduced by digitalization – when the necessary additional electricity is supplied by renewable energy and the use of other energy … Green Digitalization 2020 includes three conferences organized by some of the leading research consortia in Denmark: CITIES - Centre for IT-Intelligent Energy Systems (in cities), DiCyPS - Center for Data-Intensive Cyber-Physical Systems and FED - Flexible Energy … This helps to substantially maximize the performance of the renewable energies portfolio while at the same time minimizing its risks. At a press conference during Asia Power Week, ABB, a Swedish-Swiss technology multinational, said that the power industry is “battling complex challenges and rapid change: shifting and ever-widening regulations, the large-scale integration of renewables and distributed energy resources, the increasing risk of cyberattack, a generational shift in the workforce, aging plant equipment, volatile dynamic pricing and business model disruption.” It stressed that digitalization, big data and analytics “offer a timely and uniquely powerful solution to solve these challenges. By choosing “I Agree”, you understand and agree to Clarion’s Privacy Policy. The International Energy Agency (IEA) has been spreading this key message for many years: “Digitalization holds great promise to help improve the safety, productivity, efficiency and sustainability of energy systems worldwide. heading the second biggest German open-ended real estate fund. If anything can encourage the financial community to further their investments, it is the promise of lowest risks and highest performance. Digitalisation is one of the biggest enablers of the global transition to clean energy. The company’s focus is to increase the use of renewable energy and guarantee the flexibility of the electrical grid so that clients can finally transform energy … The only option to eliminate GHG emissions entirely is to switch to renewable fuels and energy … Along the full wind and solar value chain—where minimizing … Renewable energy capacity increases faster than any other technology, as clean energy has never seen such high demand. Digitalization has the potential to enable a true “smart grid,” which uses battery storage and the “smart” release of renewable-generated energy… Shutterstock. Digitalization of the energy sector is the only way to help fighting against climate change and develop a sustainable development. DER, DER, Grid Scale, Microgrids, Offshore, Onshore, Rooftop, Solar, Storage, Utility Scale, Wind Power. IoT, smart data analytics and predictive data simulations of these platforms provide the necessary technical and economic KPIs automatically, up-to-the-minute and free of any type of manipulation. Renewable energy investors need service providers that are familiar with the investment landscape at a local level, can adapt to the latest technologies, and have a clear vision of market evolution and regulations. This new sector, called Enertech, includes organizations that use new technology to find innovative solutions to increase the efficiency and optimization of renewable energy portfolios based on an advanced asset management. It is becoming increasingly important for asset managers to be able to integrate and transparently manage the technical and financial performance of their energy portfolios, especially to minimize the risk of their investors. Contributing articles to Renewable Energy World, Seven of the 10 largest offshore wind farms are in the UK, Commonwealth of Massachusetts paves the way for solar powered EV charging stations, SEIA announces new board members for solar+ decade, Summit Ridge Energy taps Arcadia Power to help with customer acquisition for community solar. Renewable energy capacity increases faster than any other technology, as clean energy has never seen such high … The energy industry is changing in profound and permanent ways. This makes it possible to produce power, monitor performance and manage portfolios efficiently within large networks. 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 … The energy sector is already using data in sophisticated ways to meet a wide range of challenges, from fault prediction in grid networks to the delivery of personalised energy to households.As more data … When you visit Clarion Events (and our family of websites), we use cookies to process your personal data in order to customize content and improve your site experience, provide social media features, analyze our traffic, and personalize advertising. Digitalisation and the transformation of the energy value chain. Executive-level dashboards tailored to clients’ individual needs show the results of the system’s data analysis, which makes controlling and reporting processes much more efficient. By cutting traffic and the time people spend stuck in jams, technology can … Furthermore, it is large potential to save energy and increase the amount of local produced renewable energy. According to International Energy Agency in 2017 the world produced about 21,000 Billion KWh of electricity with 3700 Billion kWh of electricity produced in the United States of America or energy required to charge 1,950 Billion iPhones if discharged and charged every day for a year (Your phone uses 6 Wh of energy in a day to fully charge ). While people are still figuring out whether to call or spell this phenomenon energy digitalisation, digitalization, digitisation or digitization, … This company has a reputation within the industry as a leader in moving toward non-petroleum, renewable energy sources, and has in the past conducted initiatives in wind, solar, and hydrogen energy. ‍In this white paper Dr. Virgil Cazacu, Head of Digital Transformation, BayWa r.e. Based on the findings, TEO proposes solid policy recommendations such as an attractive investment framework to mobilize energy … ... digitalization and many others. Wind energy … Since the creation of Kaiserwetter Energy Asset Management, Schoklitsch and his team have worked to develop a digital platform and tools supporting renewable energy investors maximizing their performance. Energy Digitalisation. As of year end 2019, we had 479 MW of … With the support of GE’s digital products, BKK aims to reduce costs with less planned maintenance, … Decarbonization, decentralization and digitalization could facilitate the industry’s shift to zero-carbon energy. The Rain In Spain Gets A Brain: How Digitalization Is Boosting Iberia’s Dams. Digitally-enabled demand forecasting and supply planning for coordinating supply and energy storage and discharging in a decentralized renewable-based power system will be a huge … Digitalization should not make people feel alienated or excluded from the industry’s digital future. Electrify Europe is the world’s first event dedicated to the convergence underway between digital technologies, power generation and transmission & distribution sectors, driven by digitalization, decarbonization, decentralization and electrification. However, this will only be possible if renewable energy investors can rely on investment security, professional risk management, and standardized portfolio management for their assets, from anywhere and at any time. This is the amount of energy … The possibilites of the Internet of Things (IoT) and Big Data-analytics have revolutionized the future of the energy sector. 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