Empowering Power Industry with Digital transformation
Digital Transformation is impacting every industry across the globe today and the power generation industry is no exception. The WEF estimates that $1.3 Trillion could be generated by digitalising electricity generation worldwide by 2025.
Intelligent power stations are needed for highly efficient plant operations and asset management. Also, tighter regulations and environmental concerns are driving the industry to be more efficient and cleaner than ever.
Digitalization already offers significant range of immediate operational and financial benefits:
- Remote monitoring assists in identifying equipment performance through collection and analysis of data either on-site or remotely, using a remote access platform.
- Cisco provides Shell remote proactive monitoring and SLA driven management of security, applications and infrastructure. It increased security maturity by improving cybersecurity and risk management, lowering delivery and operations costs.
- Connected workers in upstream operations, who benefit from improved safety in the field, could be ~ 15% more productive than their non-connected counterparts.
- PG&E’s Digital Catalyst team created a mobile app to help field crew complete asset inspections more efficiently and safely by furnishing them with real-time information
- Advanced analytics enables predictive maintenance and simulation to optimize asset performance and assure enhanced lifetime.
- Seeq data analytics software was applied to data in Ovation control system of a coal-fired power generation. It reduced chemical usage and saved ~$7,500 per month, or approximately $90,000 per year.
A digital and software-centric approach to innovation in power generation requires more than technology, it also requires executive support to establish an analytics culture. This enables an environment for empowered engineers to improve outcomes by using innovative software to access multiple data sources.
- TechM’s equipment monitoring solution deployed to remotely monitor a steam turbine delivered a 90% person-hour reduction because of automation and remote management.
- TCS’s IP solution saved a power plant upwards of $1.5 million/GW/yr. It leverages AI, IoT, and digital twin technologies to optimize the performance of power plants. It can reduce operational and maintenance costs ~3%.
SPs have to gain expertise in each of the digital themes across use cases in different types of power plants to help companies set up digital industries. Companies partner with SPs offering intelligent use of digital infrastructure to enable improvements in reliability, security, and efficient delivery of power to their customers. Some of the key offerings by SPs include;
- Advanced data and predictive analytics capabilities to manage networks
- Operational Intelligence Platform
- Smart utilities – Smart Energy Meter, AMI, AMR, EV, HAN and other smart products
- Energy Management
- Transmission & Distribution (T&D), GIS
- Digital Oilfield Analytics