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. 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. Horizon2020 – key calls: work programme 2018- 2020 . Data collection and exchange are growing exponentially, creating digital threats but … Privacy Statement and It also provides a few practical sugges-tions to start harnessing the power of this digital transformation. Copyright© 2020 Thomas Publishing Company. Here, we explore the latest technological development for the utility and energy sector. 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. By using this site, you agree to our, Skills Gap Isn’t the Only Workforce Challenge. Discussion went on how digitalization of the energy sector is key for economic growth, digital services impact and how consumers relate to electricity. It features input from almost 100 experts and data from extensive desk research. sector. 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. 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. Renewable energy and CO2 reduction have triggered a profound need for digital transformation of the energy sector. 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. 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. 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. Discussion went on how digitalization of the energy sector is key for economic growth, digital services impact and how consumers relate to electricity. In the past, energy, water and labor cost was less, waste disposal carried little cost, and emissions did not incur fines. This has gained momentum as IT infrastructure in the country has improved by leaps and bounds and is becoming competitive day by day. There are three reasons for this. Decarbonization, Digitalization and Decentralization are … 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. The series reached over 4,200 participants from 70 utilities in 68 different countries. 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. Stay up to date on industry news and trends, product announcements and the latest innovations. 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. Digital transformation has immense potential to unlock $1.3 trillion of value for the electricity sector; the industry must now embrace digitization. Terms and Conditions, 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. These technologies are gradually making inroads in the Indian power sector as well. The event “Digitalization and decentralization of the Energy Sector” began with the “Decentralization of the Energy Sector: key for development” panel. Digitalisation brings a completely different dynamic. The same study reveals that the ICT sector is by far the most digitalized in Germany (74 out of 100). This holds particularly true for smart grids and smart metering systems, smart home appliances, smart charging solutions for electric vehicles and smart cities. 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 … Rishyamook Building, First Floor85 A, Panchkuian RoadNew Delhi - 110001, INDIA, Tel. “Even if we manage to design highly secure distribution grids, a network of car charging stations could turn into a new vulnerability. The digital transformation is unique to each organization based on their individual requirements and business objectives. 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. 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. 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. 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 … But despite the progress it remains unknown what digitalisation will do to the energy sector, its businesses, and people’s behaviour, in the long term. The digital revolution is coming to the power industry. 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. The digitalization of the power sector allows for greater transparency into operations, which greatly increases efficiency and reliability while decreasing costs. Image Credit: Edi Katona/Shutterstock.com. 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. The integration of transport into the power sector also poses new security challenges, he says. Similarly, to increase the operational efficiency and ensure effective network planning, distribution companies are also undertaking several digitisation and grid modernization initiatives. The global energy sector is undergoing a dramatic transformation, led by trends in digitalisation and centralisation. The energy sector reaches an index of 47 (in 2018), which is midfield compared with other sectors. 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. 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. 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. The panelists will present trends in cyber-attacks to global power sector stakeholders and discuss the latest innovative tools and technologies. Therefore, it is likely that the ICT sector acts as a technology push factor for the digitalization of other sectors, including the energy sector. ico-arrow-default-right. Horizon2020 – key calls: work programme 2018- 2020 . Digitalization of the energy sector is the only way to help fighting against climate change and develop a sustainable development. 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 … In all these areas, digital technologies create various opportunities. Following the success of the webinar series, USEA and USAID will host industry panels with leading cybersecurity experts. Thomas Register® and 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 IIoT promises to digitalize much of the world’s industrial processes, including underlying physical infrastructure such as power generation, transmission and distribution. 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.”. “For utilities and generators, the most significant change will be how they handle data strategy and security,” Curry says. 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 session will focus on workforce needs and … 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 energy sector has been an early adopter of digital technologies. 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. Switching off a large number of charging stations simultaneously would bring any grid to its knees. 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. Digitalisation in energy sector brings new opportunities to the . 2 Department of Engineering, University of Cambridge, United Kingdom. With the entrance of rapidly varying renewable generation, the need for automatic load setting on the thermal plants through intelligent features arises. – 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 . POWER-GEN International is offering an opportunity to save $75 off attendee registration. 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 are symptoms of a bigger problem Covid-19 presents to the nuclear sector, said energy and nuclear policy independent analyst Mycle Schneider. 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. Digitalization Dynamics. 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. The biggest changes that digitalization will bring to the energy sector will depend on each player’s position in the value chain. identification of digital opportunities in the energy sector of six Central American countries: Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama. Active Efficiency seeks to optimizes energy use with the opportunities presented by digital technologies. The “Dialog paper digitalization in the energy sector” contains explanations and deliberations on technologies, applications and trends, and on future challenges and regulatory issues. The digital revolution is coming to the power industry. We are using the power of our platform to aid in the mass shortage of critical supplies. Schneider said: “Covid-19 constitutes an unprecedented threat on sensitive strategic infrastructure, above all the power sector. systems (NIS Directive ) in the energy sector. 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. California Do Not Track Notice. 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. The energy sector is used to thinking in terms of decades and the energy world is a slow-moving entity. 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. Thomas Regional® are part of Thomasnet.com. of the pain-points in the energy sector. The future of digitalization in power will be a session in the December 15 series of POWERGEN+ online. Email: s.kufeoglu@jbs.cam.ac.uk. 1 Energy Policy Research Group, University of Cambridge, United Kingdom. The big traditional companies that dominate the European energy market are not quick to adapt to change. Solution to Integrate Variable Renewables” indicates digitalization as a major driver for innovation and solutions of the energy sector challenges. 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. See 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. Does November's Modest Slowdown in U.S. Manufacturing Signal a Cold-season Decline? 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. In times to come, space challenges in transmission are also bound to get more acute. 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. 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. 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. Road, WorliMumbai - 400018, INDIA, Tel. 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Irlbeck: Digitalization in Bavaria - Challenges in the energy sector 3 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. 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 ). On the down side, instrumentation & controls were costly in the past. In regard to digitalization, she told Power Engineering International, “There is a misunderstanding that smart technology by itself can do anything. “Other changes will be where they find new sources of revenue, and how digitalization affects their workforce. Digitisation and modernization have become the buzzwords for grid upgradation of advance information technology solutions with business operations and planning. : +91 22 2493 0532 / 6528 / 6529Email: mumbai@ieema.org. 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. 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. Juliet Shavit, president and CEO of Smartmark Communications, is also a firm believer in focusing on the human element in digitalization. This panel also provided attendees with a perspective on digital transformation and industry 4.0. The application of digital monitoring and control technologies in the power generation and transmission domains has been an important trend for several decades. “Power plants are like robots without brains,” he said. Digital energy penetration is increasing every year. Without changing their business process to get the results that digital solutions offer, companies will have great technology but little else.”. 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. Digitisation to support the energy transition . “It’s a bit like trying to predict the effects of the internet before it was invented,” says Reetz. 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. Website Last Modified December 19, 2020. By Power-GEN While the “three Ds” of energy—decarbonization, decentralization, and digitalization—are all driving the global energy transition, only … Digitalization will also play a major role in the renewable energy sector going forward. Hence, going ahead, equipment manufacturers need to undertake innovations and more towards smaller but smarter equipments. Digitalisation in the Energy Sector - Questionnaire CONTEXT Within the Energy Union, three key targets and policy objectives have been established in light of the 2030 climate and energy framework of the EC: 40% cut in greenhouse gas emissions, 32% share for renewable energy and 32.5% improvement in energy efficiency. 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. 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. 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. Two-way communication between energy producers and consumers, as well as the increasing number of prosumers – those who both produce and consume energy … 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. In the 1970s, power utilities were digital pioneers, using emerging technologies to facilitate grid management and operation. COVID-19 Response Therefore, the … Can Your Company Help Provide Critical Supplies? Recognized industry leaders will present their thoughts and provide actionable takeaways on digitally transforming a power generation business into a 21st-century trailblazer. 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. COVID-19 Response: Source manufacturers & distributors providing COVID-19 medical supplies 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. The objective of this virtual conference is to share best practices related to the implementation of new technologies and fomenting a culture of safety throughout the industry, by discussing challenges and benchmarking in the Energy sector. 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. 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. All Rights Reserved. To determine what it means for the energy sector specifically, DNV GL surveyed nearly 2000 professionals from across the global energy value chain. For power generation software, China and Europe will be the biggest markets, accounting for 26% and 24% of the … Digital economy and skills for the future are two priorities for the Bulgarian Presidency of the Council of the European Union. “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. 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. Digitisation to support the energy transition . 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. 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. Digitization in the power generation sector continues to expand. 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, … POWER-GEN International is offering an opportunity to save $75 off attendee registration, How A Manufacturer's Logo Design Engages Buyers. Thomasnet Is A Registered Trademark Of Thomas Publishing Digitization, as RRE points out, will make a huge impact on the Brazilian energy sector. It is the interaction between the technology and the people that creates the solution. 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. Consumers will not only see the benefits of digitalization through lower monthly utility bills but also reduced outages and faster response times. What is now new is the extent of digitalization on the power system and energy market. 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. In addition to delivering unique benefits for consumers, digitalization offers huge opportunities to the power industry as a whole. Digital transformation is something that has become a common trend, and it is one that has reached the Power & Utilities sector moving rather quickly. 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. Plants are now becoming more and more smarter by digitally integrating assets to make our work easier. Embracing Digital Twins in the Energy Sector. BNEF believes this will grow to $5.2 billion by 2025, driven by the sectors decarbonization mandate. Digitisation of the energy system . Digitisation of the energy system . If your company can help provide supplies, capabilities, or materials for products such as N-95 Masks and Tyvek Suits — Please let us know. A set of technological and macroeconomic forces is converging to trigger a deep transformation of the energy industry. 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. corporates, entrepreneurs and start-ups to provide solutions and create new businesses in this sector. Sign up here to get the day’s top stories delivered straight to your inbox. Is unique to each organization based on their individual requirements and business objectives Brazilian sector. California do not Track Notice, USEA and USAID will host industry panels with leading experts... Investments into the technology. ”, Exploring new technology at power-gen International is offering an opportunity save... Digital pioneers, using emerging technologies to optimize equipment digitisation and modernization have become buzzwords... Competitive day by digitalization in power sector of POWERGEN+ online their thoughts and provide actionable takeaways on transforming. 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