POWER-GEN International is offering an opportunity to save $75 off attendee registration. Terms and Conditions, 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. 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. Schneider said: “Covid-19 constitutes an unprecedented threat on sensitive strategic infrastructure, above all the power sector. From Mexico to Brazil to Argentina to Peru, electricity providers have been installing smart meters at homes and businesses. 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. Indeed, the popularity and embrace of these and many other technologies throughout the Americas underscores that digitalization of the power sector is already a reality. 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 … Can Your Company Help Provide Critical Supplies? 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. In addition to delivering unique benefits for consumers, digitalization offers huge opportunities to the power industry as a whole. 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. In times to come, space challenges in transmission are also bound to get more acute. The power system simulator market has been segmented based on module, offering, end-user, and region. The big traditional companies that dominate the European energy market are not quick to adapt to change. A set of technological and macroeconomic forces is converging to trigger a deep transformation of the energy industry. In regard to digitalization, she told Power Engineering International, “There is a misunderstanding that smart technology by itself can do anything. 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. 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. Welcome to Thomas Insights — every day, we publish the latest news and analysis to keep our readers up to date on what’s happening in industry. Discussion went on how digitalization of the energy sector is key for economic growth, digital services impact and how consumers relate to electricity. Image Credit: Edi Katona/Shutterstock.com. 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 digital transformation of energy systems – smart meters, energy management systems, automated demand response or microgrids – could also help people everywhere access a reliable and affordable source of energy. This holds particularly true for smart grids and smart metering systems, smart home appliances, smart charging solutions for electric vehicles and smart cities. If your company can help provide supplies, capabilities, or materials for products such as N-95 Masks and Tyvek Suits — Please let us know. “Even if we manage to design highly secure distribution grids, a network of car charging stations could turn into a new vulnerability. Digitalisation in energy sector brings new opportunities to the . 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. The 15-part Cybersecurity and Digitalization webinar series was launched in June 2020 to educate utilities on cyber standards, trends, and best practices. 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. Digitalization will also play a major role in the renewable energy sector going forward. Following the success of the webinar series, USEA and USAID will host industry panels with leading cybersecurity experts. the energy sector for the benefit of a system that is able to integrate higher shares of RES and promotes energy efficiency . Digitisation of the energy system . Artificial intelligence (AI) will soon assist in the spread of technology through power generation facilities, “making physical processes more predictable and, in some cases, automated,” Martin noted. This panel also provided attendees with a perspective on digital transformation and industry 4.0. 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. ico-arrow-default-right. The application of digital monitoring and control technologies in the power generation and transmission domains has been an important trend for several decades. It is the interaction between the technology and the people that creates the solution. 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. “Other changes will be where they find new sources of revenue, and how digitalization affects their workforce. – 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 . While people are still figuring out whether to call or spell this phenomenon energy digitalisation, digitalization, digitisation or digitization, energy 4.0 or energy digital transformation, it is a disruptor, both on the commercial and the legal side. To stay at the forefront of these developments, KPMG is working closely with Vlerick Business School and their research department. Digital transformation is something that has become a common trend, and it is one that has reached the Power & Utilities sector moving rather quickly. 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. The energy sector reaches an index of 47 (in 2018), which is midfield compared with other sectors. 1 Energy Policy Research Group, University of Cambridge, United Kingdom. COVID-19 Response: Source manufacturers & distributors providing COVID-19 medical supplies 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. 2 Department of Engineering, University of Cambridge, United Kingdom. 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. Here, we explore the latest technological development for the utility and energy sector. Solution to Integrate Variable Renewables” indicates digitalization as a major driver for innovation and solutions of the energy sector challenges. 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. With the entrance of rapidly varying renewable generation, the need for automatic load setting on the thermal plants through intelligent features arises. 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. systems (NIS Directive ) in the energy sector. 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. COVID-19 Response Digital energy penetration is increasing every year. These technologies are gradually making inroads in the Indian power sector as well. Digitization, as RRE points out, will make a huge impact on the Brazilian energy sector. 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. One of the slower runners in the digital transformation race is the energy and utilities industry. Does November's Modest Slowdown in U.S. Manufacturing Signal a Cold-season Decline? Discussion went on how digitalization of the energy sector is key for economic growth, digital services impact and how consumers relate to electricity. 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. 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. Digitisation of the energy system . Hence, going ahead, equipment manufacturers need to undertake innovations and more towards smaller but smarter equipments. The prospects for a smart power system have been widely discussed in the global electricity sector. 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. 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 It features input from almost 100 experts and data from extensive desk research. The paper is both the basis and prelude to more in-depth work by the SFOE with all stakeholders concerned from the electricity, gas and heating industries. Even though the digitalization of security in the energy sector affects individuals, companies and states globally, this article focuses on the evolution of EU law and policy. Embracing Digital Twins in the Energy Sector. corporates, entrepreneurs and start-ups to provide solutions and create new businesses in this sector. Digitalization of Energy Systems, a report by Bloomberg New Energy Finance (BNEF), predicts significant shifts in the intelligence of digital technologies used in energy from today to 2025, and a big change in the sectors of the energy system that most benefit from these technologies. 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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. 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. The digitalization of the power sector allows for greater transparency into operations, which greatly increases efficiency and reliability while decreasing costs. In many cases, companies in these sectors have helped enable the digitalization of the energy sector and the rise of “prosumers”—novice consumers who buy professional-quality equipment. First, energy and security have been at the core of the EU’s legal and policy measures from the beginning of European integration. 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. “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. “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. The discoms are also focusing on enhancing its consumer service experience by implementing information technology solutions. And you are not going to realize the investments into the technology.”, Exploring New Technology at POWER-GEN International. See Without changing their business process to get the results that digital solutions offer, companies will have great technology but little else.”. Recognized industry leaders will present their thoughts and provide actionable takeaways on digitally transforming a power generation business into a 21st-century trailblazer. Recognized for her ability to deftly bridge the communication gap between engineers, technology experts, marketing departments, and consumers, Shavit’s experience in multiple sides of the industry grants her unique insight into the future of the field. Therefore, the … What is now new is the extent of digitalization on the power system and energy market. The energy sector began integrating digital technologies in the 1970s and rightly so, because of its high resource levels, costs of failure and outages. Email: s.kufeoglu@jbs.cam.ac.uk. Organized into themed conference tracks, in-depth educational sessions will range from topics like cybersecurity and energy storage to gas-fired plant solutions and flexible power. Thomas Register® and Sign up here to get the day’s top stories delivered straight to your inbox. 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. The digital revolution is affecting the power industry. 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. 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. * Corresponding author. Data collection and exchange are growing exponentially, creating digital threats but … Plants are now becoming more and more smarter by digitally integrating assets to make our work easier. 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. Digital technologies already play an important role in the energy sector. Recent years have seen both innovative startups and established technology giants entering the power and utility sector, blurring the market’s boundaries to include telecom, financial technology, and retail industries. The digital revolution—referred to as Energy 4.0—involves these advances to build smart grids, manage renewable energy and distributed generation. Rishyamook Building, First Floor85 A, Panchkuian RoadNew Delhi - 110001, INDIA, Tel. Website Last Modified December 19, 2020. Electricity: uncovering value through digital transformation Digital transformation has immense potential to unlock $1.3 trillion of value for the electricity sector; the industry must now embrace digitization. The digitalization of the power infrastructure is not a new idea. Therefore, it is likely that the ICT sector acts as a technology push factor for the digitalization of other sectors, including the energy sector. Digitisation and modernization have become the buzzwords for grid upgradation of advance information technology solutions with business operations and planning. 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. The Digital Solutions & Cybersecurity track, for example, will feature experts discussing the technologies behind this digital revolution and the ongoing efforts to protect the world’s power plants from the growing risk of cyberattacks. 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. 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. Thomasnet Is A Registered Trademark Of Thomas Publishing Juliet Shavit, president and CEO of Smartmark Communications, is also a firm believer in focusing on the human element in digitalization. Renewables, distributed generation, and smart grids demand new capabilities and are triggering new business models and regulatory frameworks. 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.”. Its goal in simple terms—providing easy access to data… Webinars Sponsored by … 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. In the 1970s, power utilities were digital pioneers, using emerging technologies to facilitate grid management and operation. The country’s dependency on coal based thermal power stations for meeting its energy needs has resulted the environmental concern and focus its efficient and reliable…... Demand Assessment Report 2018-2027 – Electrical Equipment, Growing Digitalization and Automation in Power Sector, Smart Distribution: Solution for affordable, reliable and quality power, Mr. Harish Agarwal, President IEEMA addressing audience at Workshop on Role of GeM in Power Sector, New Delhi, Quality Power Solutions for improving generation, transmission and distribution, Electric vehicles charging Infrastructure- an area of concern, Need of Smart and intelligent features in Thermal Power Stations, Role of Reactive Power in Power System (Reactive power is both the problem and solution to the power system), Allahabad high court order a set back for the future of Indian power sector, Kerala emerges as energy efficient state, Rajasthan stands second, High Quality Solar Cables for Long Term Performance. 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. Whether it is simply adding a vibration sensor to a piece of rotating machinery or creating a full digital twin of an entire plant, digital twin technologies can reduce costs and streamline maintenance and operations processes. Now, however, it’s a reality. POWER-GEN International is offering an opportunity to save $75 off attendee registration, How A Manufacturer's Logo Design Engages Buyers. Renewables, distributed generation, and smart grids demand new capabilities and are triggering new business models and regulatory frameworks. 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. For power generation software, China and Europe will be the biggest markets, accounting for 26% and 24% of the … While many of these technologies and terminologies didn’t even exist a decade ago, they are now standard across industry, ever-present in everyday vernacular. The digital revolution is coming to the power industry. Susan Petersen Sturm, digital lead of the Power Generation & Water area of ABB’s Industrial Automation department, told Power Engineering International that digitalization is really “all about people, process, and technology.”, “In digitalization,” she explained, “we talk a lot about technology, but not about people and processes. : +91 22 2493 0532 / 6528 / 6529Email: mumbai@ieema.org. Ramping up or down of thermal power plants hitherto was through manual load setting or through the free governor mode of operation. 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 … 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 pace of digitalisation in energy is increasing rapidly. For example, the application of data analytics in power plants and networks alone could save up to $80 billion annually through 2040 according to the International Energy Agency ( IEA ). 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. 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. Present their thoughts and provide actionable takeaways on digitally transforming a power business. Research Department lower monthly utility bills but also valuable opportunities trillion of value for the utility energy! Management and operation and California do not Track Notice threat on sensitive strategic infrastructure, all... Large number of charging stations simultaneously would bring any grid to its knees transmission. 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