identification of digital opportunities in the energy sector of six Central American countries: Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama. Road, WorliMumbai - 400018, INDIA, Tel. In the power sector, the analysis indicates that digitalisation has the potential to save around $80 billion per year, or about 5% of total annual power generation costs. In addition to delivering unique benefits for consumers, digitalization offers huge opportunities to the power industry as a whole. This report is intended to help ASEAN and ASEAN Member States address high-priority power sector challenges through increased digitalization by providing useful digital technology … This mission-criticality of power is the reason why the digitalization of the power grid is rightly referred to as a revolution – it impacts everyone, from individual families and communities to large companies, nations and even the cross-border economy. Digital transformation is something that has become a common trend, and it is one that has reached the Power & Utilities sector moving rather quickly. And digitalization, which involves the convergence and adoption of machine learning, big data, cloud technology, blockchain, artificial intelligence, and other new technologies, is quickly becoming a mainstream movement. Additionally, many of the services from digitalization (such as social media, email providers or search engines) are being paid for via a flat rate rather than per data unit. The electricity sector is ripe for realizing value from rapid digital transformation; we estimate that there is $1.3 trillion of value to be captured globally from 2016-2025. This can be achieved by reducing operation and maintenance costs, improving power plant and network efficiency, reducing unplanned outages and downtime, and extending the operational lifetime of assets. These capabilities are needed for generating supply to meet electric demand as market conditions constantly change.”, Humans and Technology Collaborating and Coexisting, Other thought leaders in the power industry are also emphasizing the importance of human labor in today’s increasing digitalized world. Data collection and exchange are growing exponentially, creating digital threats but also valuable opportunities. Going forward, Martin said he expects “a blended human/AI approach to digitalizing operations that frees up human capital to focus on high-priority issues.”, With the skills gap continuing to grow, Martin stressed the importance of planning ahead: “Electricity has a mature workforce with 25% of industry workers reaching retirement age within five years, so power producers and utilities will need to invest substantially in creating a culture where operators are comfortable working in AI-enabled environments.”. The energy sector began integrating digital technologies in the 1970s and rightly so, because of its high resource levels, costs of failure and outages. This has gained momentum as IT infrastructure in the country has improved by leaps and bounds and is becoming competitive day by day. 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. Digitization in the power generation sector continues to expand. Speakers will offer valuable insight about how companies can unlock significant savings and increase efficiency by utilizing the latest cutting-edge technologies to optimize equipment. While the “three Ds” of energy—decarbonization, decentralization, and digitalization—are all driving the global energy transition, only digitalization has truly permeated every aspect of the power sector. POWER-GEN International is offering an opportunity to save $75 off attendee registration, How A Manufacturer's Logo Design Engages Buyers. 2 Department of Engineering, University of Cambridge, United Kingdom. What is now new is the extent of digitalization on the power system and energy market. Horizon2020 – key calls: work programme 2018- 2020 . Most importantly, Sturm noted, “Digitalization should not make people feel alienated or excluded from the industry’s digital future.” In other words, digitalization initiatives should maintain a balance between people and technology, rather than one replacing the other. Although the Brazil energy sector is unique in having 61% of its energy coming from hydropower, which also makes it easier to match power generation to consumption, other utilities across the globe, will have an even harder time adapting to renewable but non-continuous sources of energy like wind and solar. In the “Business Strategy: The State of Digital Transformation in North America Power in 2016” research report, John Villali, an analyst at research firm IDC, stated that power producers will increasingly be looking to digital technologies to meet today’s shifting needs. The digital revolution is coming to the power industry. Embracing Digital Twins in the Energy Sector. corporates, entrepreneurs and start-ups to provide solutions and create new businesses in this sector. The French Development Agency AFD has agreed to provide 100 million euros in loan to Bangladesh for the digitalisation of the country’s power and energy sector. Renewables, distributed generation, and smart grids demand new capabilities and are triggering new business models and regulatory frameworks. Thomas Register® and Horizon2020 – key calls: work programme 2018- 2020 . In the 1970s, power utilities were digital pioneers, using emerging technologies to facilitate grid management and operation. One of the slower runners in the digital transformation race is the energy and utilities industry. Data collection and exchange are growing exponentially, creating digital threats but … Digital technologies already play an important role in the energy sector. This holds particularly true for smart grids and smart metering systems, smart home appliances, smart charging solutions for electric vehicles and smart cities. Without changing their business process to get the results that digital solutions offer, companies will have great technology but little else.”. Digitalization have been implemented in many industries for years; however, the energy sector and especially nuclear didn’t get the full extent of digitalization yet. Being adopter of digital technologies since 1970s, the energy and utilities sector is embracing such emerging innovations as the Internet of Things, Data Science, Machine Learning and cloud computing. * Corresponding author. of the pain-points in the energy sector. The IIoT promises to digitalize much of the world’s industrial processes, including underlying physical infrastructure such as power generation, transmission and distribution. Digitisation to support the energy transition . We sat down with Bryan Friehauf of Hitachi ABB Power Grids, an Active Efficiency Collaborative Member, to discuss what Active Efficiency technologies and approaches could achieve in the power sector. 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. Digitisation of the energy system . And you are not going to realize the investments into the technology.”, Exploring New Technology at POWER-GEN International. The prospects for a smart power system have been widely discussed in the global electricity sector. It features input from almost 100 experts and data from extensive desk research. With decentralization, de-carbonisation and deregulation, the entire business model of utilities is evolving rapidly and state-of-art technologies are making those changes possible that were beyond the imagination a few years back. Terms and Conditions, “New requirements are being created because of the increased amount of intermittent wind and solar capacity being added to the grid,” Villali said, “which requires traditional fossil fuel generation to have quicker ramp-up and ramp-down times as well as additional spinning reserves. “Even if we manage to design highly secure distribution grids, a network of car charging stations could turn into a new vulnerability. The session will focus on workforce needs and … By the end of 2018, he predicted, “AI will rapidly automate basic maintenance of industrial processes, from real-time fuel optimization … to wind power forecasting.”, Perhaps the most pivotal element in the future of AI is the intersection of human contribution and automated technology input. The digital revolution is coming to the power industry. Similarly, to increase the operational efficiency and ensure effective network planning, distribution companies are also undertaking several digitisation and grid modernization initiatives. Mobility, Production/Digital Engineering, Energy, Health, Cybersecurity, Education/Culture/Science 10 Innovation Labs Entrepreneurship education centers in digital technology Initiatives at Center Digitization.Bavaria 9.11.2017 M. Irlbeck: Digitalization in Bavaria - Challenges in the energy sector 3 1 Energy Policy Research Group, University of Cambridge, United Kingdom. Digital transformation has immense potential to unlock $1.3 trillion of value for the electricity sector; the industry must now embrace digitization. See To stay at the forefront of these developments, KPMG is working closely with Vlerick Business School and their research department. The digitalization of the power infrastructure is not a new idea. The global energy sector is undergoing a dramatic transformation, led by trends in digitalisation and centralisation. Not so long ago, the idea of sitting at home and asking a machine to adjust the heating, battery storage, or solar panels was simply a science fiction fantasy, a far-off dream of a high-tech future. WEF’s report on “ Cyber Resilience in the Electricity Ecosystem: Principles and Guidance for Boards ” calls for attention to the interconnectivity of the power system, in terms of both grid elements and associated stakeholders. The 15-part Cybersecurity and Digitalization webinar series was launched in June 2020 to educate utilities on cyber standards, trends, and best practices. The energy sector reaches an index of 47 (in 2018), which is midfield compared with other sectors. “Other changes will be where they find new sources of revenue, and how digitalization affects their workforce. Thus, the relative decoupling between economic growth of the ICT sector and energy consumption has been much slower than that between growth in technical terms and energy consumption. Digitalization of the energy sector is the only way to help fighting against climate change and develop a sustainable development. Consumers will not only see the benefits of digitalization through lower monthly utility bills but also reduced outages and faster response times. Growing Digitalization and Automation in Power Sector February 21, 2019 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. Thomas Regional® are part of Thomasnet.com. And those leaders who have already started implementing such updates must stay ahead of the digital transformation and position themselves for success by keeping abreast of upcoming advancements … In Transmission segment, there is continuous advancement of transmission equipments with the application of digitlization and automation and make it suitable for smart grid operation and that is more compact, reliable, environment friendly and requires minimum installation and commissioning time. 3rd Digitalization of Energy Sector 2019 welcomes the decision-makers and experts of digital, innovation, strategy, technology & IT departments from leading Energy companies (Oil & Gas and Power & Utilities) in an exclusive close-group and business-friendly environment for peer-to-peer networking, knowledge-sharing and learning opportunities. Moreover, power system assets are critical infrastructure and operators need to act based on facts there's no room for being misled by hype when the reliability of our energy infrastructure has major consequences and can mean the difference between life and death. As digitalization continues to spread rapidly across the power sector, industry leaders must learn how to adapt their own technology, internal processes, and business practices to the digital age. The role of digitalization in transforming the power industry will be a key topic of discussion at the upcoming POWER-GEN International event in Orlando, Florida, from December 4-6. Schneider said: “Covid-19 constitutes an unprecedented threat on sensitive strategic infrastructure, above all the power sector. Digitalization is the use of technologies to change a business model and provide new revenue and value-producing opportunities, according to Gartner’s IT glossary. Of the various megatrends inescapably driving the energy transition, one in particular—digitalization—has come onto the scene with impressive potential to cut costs in the power sector. The way the world generates, distributes and consumes power is being reshaped by rapid growth in distributed renewable energy; decentralised gas and oil production; innovation in efficiency; and progress in software and analytics. Connected Plant The POWER Notebook: Power Sector Digitalization Accelerates The pace at which new digitalization technologies are being adopted in the power sector is dizzying, … The requirement for making coal fired stations intelligent arises from the bead for highly efficient plant operation and asset management on one hand and wide scale penetration of renewable energy (solar photovoltaic and wind) into the grid which results in rapid cycling of the thermal plants, on the other hand. – increase the digital capacity of the energy sector for the benefit of a system that is able to integrate higher shares of RES and promotes energy efficiency . systems (NIS Directive ) in the energy sector. In the meantime, new regulations, a shift towards green energy, decentralized energy and stronger digitalised competitors, such as China, are creating challenges for the European players. COVID-19 Response: Source manufacturers & distributors providing COVID-19 medical supplies There are three reasons for this. Digital economy and skills for the future are two priorities for the Bulgarian Presidency of the Council of the European Union. Moreover, as the pace of renewable energy integration increases and there is widespread adoption of smart grid technologies, utilities would be required to increase the deployment of intelligent equipments or to undertake modifications to transform the existing modules into smart equipments as the availability of real-time data is critical in the context of both developments. In all these areas, digital technologies create various opportunities. Website Last Modified December 19, 2020. Market for Digitalization in Energy Sector to Grow to $64BN by 2025 November 7, 2017 Digital technologies for fossil fuel operation and maintenance are big business today, but activity is shifting towards services for distributed renewables and the connected home. Copyright© 2020 Thomas Publishing Company. Meanwhile, with the advancement in communications technology, digitization has become even more relevant because it measured a performance parameter correctly and communicate it in a timely manner allows the utilities to take better decisions based on accurate data. Does November's Modest Slowdown in U.S. Manufacturing Signal a Cold-season Decline? Active Efficiency seeks to optimizes energy use with the opportunities presented by digital technologies. Now, however, it’s a reality. Digitalization will also play a major role in the renewable energy sector going forward. Digitalizing doesn’t mean that roads, factories, and that the digital power plants of the future will turn into ones and zeroes. As a result, there is a need for more sophisticated operation and control to keep pace with the increase in supervisory and operational control in the segment of power generation, transmission, distribution. “You could have the smartest technology in the world,” she explained, “but unless customers are engaging with [that technology] and reducing their energy use and playing a proactive role in the energy transformation, then really we don’t have a sustainable value. Sessions in this track include: Now in its 30th year, the tradeshow—the world’s largest power generation event—will showcase a wide range of products, services, and solutions for companies in the power generation sector. The Association of Southeast Asian Nations (ASEAN) faces its own specific set of energy challenges and digitalization can play a critical role in addressing these challenges and achieving ASEAN’s energy goals. The power system simulator market has been segmented based on module, offering, end-user, and region. Digitalisation will change the energy system in ways that we weren’t even able to imagine a couple of years ago – and we may not even fully be able to imagine today. POWER SECTOR DIGITALIZATION SUCCESS STORIES 31 Meeting Power Demand Through Improved End-Use Efficiency 37 Meeting Power Demand Through Improved Thermal Efficiency 41 Meeting Power Demand Through Improved Renewable Grid Integration 47 Closing the Energy Access Gap Through Microgrid Development 50 Maintaining Energy System Resilience with Better Weather Preparation and … Decarbonization, Digitalization and Decentralization are … Digitalisation of the Energy sector Digitalising the energy sector is crucial for the EU since it enables energy consumers to be at the centre and contributes to a new design for the energy markets. The application of digital monitoring and control technologies in the power generation and transmission domains has been an important trend for several decades. Its goal in simple terms—providing easy access to data… Webinars Sponsored by … The growth of a Country depends upon the certain basic pillar of infrastructure and one of such basic infrastructure is availability of quality and reliable…... Power quality is a neglected subject, despite its potential to boost industry and economy. Rishyamook Building, First Floor85 A, Panchkuian RoadNew Delhi - 110001, INDIA, Tel. In times to come, space challenges in transmission are also bound to get more acute. He noted that the digitalization of the power sector would not only help resolve issues surrounding accountability in the sector, it would improve power supply to Nigerians. COVID-19 Response New BloombergNEF research shows that the power sector will spend $3.2 billion on software in 2020 to optimize the performance, costs and revenues of generation and grid assets. The integration of transport into the power sector also poses new security challenges, he says. Company. “Power plants are like robots without brains,” he said. It is the interaction between the technology and the people that creates the solution. If the last decade was about developing hardware capable of generating cheap, plentiful renewable energy, the next one will be about making energy generation systems smarter. These are symptoms of a bigger problem Covid-19 presents to the nuclear sector, said energy and nuclear policy independent analyst Mycle Schneider. Image Credit: Edi Katona/Shutterstock.com. By Power-GEN While the “three Ds” of energy—decarbonization, decentralization, and digitalization—are all driving the global energy transition, only … “For utilities and generators, the most significant change will be how they handle data strategy and security,” Curry says. Following the success of the webinar series, USEA and USAID will host industry panels with leading cybersecurity experts. Digitalisation brings a completely different dynamic. Digitisation to support the energy transition . POWER-GEN International is offering an opportunity to save $75 off attendee registration. The digital transformation is unique to each organization based on their individual requirements and business objectives. The digitalization of the power sector allows for greater transparency into operations, which greatly increases efficiency and reliability while decreasing costs. Digitization and Analytics in Power Plants A key aspect of any digitization effort is providing easy access to data by engineers and other experts so they can perform advanced analytics to … The booming power sector and augmented power generation capacities, rising adoption of IoT and cloud platforms, and reduced overall project time and cost are driving the power system simulator market globally. Renewables, distributed generation, and smart grids demand new capabilities and are triggering new business models and regulatory frameworks. 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