Digitalization in Power Generation is transforming the work behavior in plants. And with data and visualizations at their fingertips, engineers can efficiently conduct field work, increasing safety, reducing waste, and saving time. Adobe PDF Library 15.0 Controlled water flow is the obvious center of all hydropower operations. 320 0 obj The plummeting cost of advanced technologies (a top-of- the-range smartphone in 2007 cost $499; a model with similar specifications cost $10 in 2015) is revolutionizing business and society. 2018-09-13T13:06:38.997Z It also pinpoints the main cultural barriers and skills gaps that could hinder a successful digital transformation both for individual organizations and the energy industry as a whole. Data collection and exchange are growing exponentially, creating digital threats but also valuable opportunities. More and more companies are launching digital initiatives that encompass not only critical assets such as turbines, boilers and generators, but also smaller balance of plant … <>/ExtGState<>/Font<>/Pattern<>/ProcSet[/PDF/Text]/Properties<>/XObject<>>>/Rotate 0/TrimBox[0.0 0.0 595.276 792.0]/Type/Page>> Digital transformation in the power generation industry is not a new concept. <> <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/Shading<>>>/Rotate 0/TrimBox[0.0 0.0 595.276 792.0]/Type/Page>> In addition to delivering unique benefits for consumers, digitalization offers huge opportunities to the power industry as a whole. 2017-11-29T13:59:12.000-05:00 Learn more: Cognite’s Industry Solutions for the Power and Utilities Sector. Industry 4.0 represents the fourth revolution that has occurred in manufacturing. Digital technologies will bring about competitive growth and deliver new value in the power generation industry. The value potential is perhaps the greatest within the following three areas: McKinsey estimates technology-enabled operations that include “workflow optimization, condition-based maintenance, process digitization, and agile working” can increase plant efficiencies by 3% and reduce average generation costs by 5% to 20%, depending on the utility. Equipment is both difficult and costly to maintain, but tighter regulations are driving the industry to be more efficient and cleaner than ever. There is a pressing need for reform and innovation in this area.Digitization，intelligent and integrated 5G power system enable faster, more affordable, and simpler 5G network deployment.” Liu Baochang, Deputy Director of Information Energy Department, China Mobile Group Design Institute Co., Ltd, expressed his opinion on the development trend and insights of site power in the 5G era. Digitalization and digital maturity can help power & utilities companies to answer the challenges of decarbonization and growing demand. Global power generation companies are facing major disruptions as the means by which power is created, maintained, and distributed evolve. <> Transforming core processes can deliver unprecedented gains for energy companies -- through improved decision making, greater efficiency, improved safety, and risk reduction. In the past, energy, water and labor cost was less, waste disposal … Digitalization makes real-time monitoring, remote control, and predictive maintenance of assets possible, greatly improving the value companies and their customers gain from their capital investments. For renewable energy companies, the use of insights provided by digital capabilities can bring down operating costs by as much as 60% to 70%, increasing the lifetime value of assets and contributing to future financial models. <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]>>/Rotate 0/TrimBox[0.0 0.0 595.276 792.0]/Type/Page>> Adobe PDF Library 15.0 Digitalization of the power generation industry in already under way and gathering momentum. from application/x-indesign to application/pdf <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/Rotate 0/TrimBox[0.0 0.0 595.276 792.0]/Type/Page>> Plants are now becoming more and more smarter by digitally integrating assets to make our work easier. Empowering human users with data-driven insights. Chris also provided a comprehensive background on why and how the future geopolitical objectives of countri… However, a range of internal and market challenges can constrain its effective uptake and implementation for those early in the digital journey. We deliver outcomes—whether they are well-lit classrooms in places that have never had them before, or stable power to hospitals, factories, and businesses, which accelerates progress and creates wealth across the globe—from the developed to the developing world. Download this eBook on Digitalizing Power & Utilities industry … xmp.did:BB44638207206811822A995A06CCF942 —²j‘øu}Ý­4;ÑÀ#IK˜½S p½W’ÁLnw=. Digitalization can provide enormous opportunities to power generation companies prepared to adapt. Huawei recently conducted digital power club roadshow in key cities throughout Japan. The World Economic Forum estimates that digital transformation in the global electricity sector could unlock $1.3 trillion in unrealized value from 2016 to 2025. %PDF-1.6 %âãÏÓ But both can (and... Oksenøyveien 10 3: Coordinating and Safely Executing Field Work, Cognite’s Industry Solutions for the Power and Utilities Sector. we stay informed, the way we travel, the way we buy things, and the way we manufacture products from cars to cookies to cream. Digitalization holds great promise for the power generation industry. energy,digitalization,whitepaper 2017-11-29T18:59:12.000Z Digitalization: The Future of Food & Beverage . 67 0 obj The roadshow visited Osaka, Fukuoka, Hiroshima, Nagoya, Fukushima and Tokyo, and was also hosted online. However, energy demands are expected to grow between now and 2040. Generally, the most valuable benefit of digitalization is its ability to automate manual processes and make insights more accessible, both freeing humans from tedious tasks and enhancing their creative capacities simultaneously. proof:pdf The massive power of digitalization—the great opportunities and great 319 0 obj As digitalization continues to spread rapidly across the power sector, industry leaders must learn how to adapt their own technology, internal processes, and … The world’s demand for energy is growing. Our Power Industry Network™ platform is built to help our members connect with each other, share their knowledge & experience and advance their careers in the industry. The paper examines the current impact of digital assets in the power infrastructure and gives an outlook on … endobj Digitalization is not just about technology and big data. Transforming core processes can deliver unprecedented gains for energy companies -- through improved decision making, greater efficiency, improved safety, and risk reduction. There are more cases to be made for speeding up automation and digitalization in the industry. 27 0 obj And driving the digital industrial revolution on a global scale. More and more companies are launching digital initia-tives that encompass not only critical assets such as turbines, boilers and generators, but also smaller balance of plant … For GE Power, digitalization means that we no longer sell only machines, software, or services. A 2019 McKinsey & Company report highlights the potential savings benefits of an automation journey, which can reduce the cost base of a producer by 15%. By maximizing their capabilities with data, companies can build robust and reliable digital applications that enable smart maintenance, revenue optimization, and safer field work. 1366 Lysaker, Norway <> They’ve developed software such as Predix which is their flagship product, Predix consist of gathering data from the nuclear power plant and transforms it into a “digital twin” of assets. Webinar Digitalization in the Dairy Industry Digitalization is providing the dairy industry with a holistic approach that transforms and optimizes the entire value chain into an integrated lifecycle. 2018-09-13T13:02:54.582Z Digitalization of the power generation industry is already under way and gathering momentum. False Advanced analytics can leverage operational data, safety records, and even external sources to deliver comprehensive risk analyses to stakeholders. 8.267722222222222 endobj The organizations that act now to supercharge their operations with data won’t just keep up, but stay ahead of the pack. digitalization Listen to how Hafslund E-CO, Norway’s second largest hydropower producer, is navigating the times - about digital-driven business models and what the future could hold for renewables in Europe: Even as traditional energy players retain predominant control of the world’s energy supply, wind and solar power will continue their meteoric rise. This post is an excerpt from the white paper Power the Future: DataOps and Contextualization in the Power Generation Industry. New energy Finance is focusing on how digitalization is shaping the energy industry digitalization in world... Bloomberg new energy Finance is focusing on how digitalization is emerging a major player the... 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