Digitalization has had a positive impact in almost every sector and the power plant arena is no exception. With the increasing demand for electricity and renewable energy, utilities around the world are leveraging digital technologies to enhance efficiency and optimize production. The digital power plant—where data meets the physical world and where new opportunities are unlocked for the customer—is not science fiction anymore. It is already here and is bringing excessive benefits to operators around the world. The digital power plant of the future is based on a common, open-source platform to facilitate collaboration between people and partners and deliver massive benefits to customers.
Until recently, power plants operated with a steady, unwavering output. Today’s needs, however, require plants to work with varying levels of on-demand flexibility. This is where internet of things (IoT) is playing its part. An IoT system improves operational efficiency by centralizing all of the operations—from the combustion process to the emission control systems—and automating them. Plant operators will now be able to make high-level decisions that affect all parts of the operation accordingly. In reacting quickly to power demands and eliminating unnecessary energy expenditure, plants will be able to experience tangible cost savings.
By giving power companies the ability to monitor and act upon developments across the grid and within their systems in real-time, AI helps power producers gain efficiency across multiple facets of their operations, from preventive plant maintenance to fuel use decisions and beyond. Besides, AI allows utility companies to manage their generation assets more efficiently, reliably, and flexibly in response to supply and demand fluctuations from distributed generation. These same AI and machine learning tools also help power companies make sounder, faster, data-driven decisions about when to operate plants to meet spikes in demand, and where to route power around problem areas.
Power generators, in fact, are developing AI algorithms based on industry intelligence to predict the probability of failure. These algorithms take into account industry-wide early failure rates for equipment, creating a richer understanding of premature failure risks for enhanced asset maintenance, workflow, and portfolio management. Instead of relying on time-intensive and risky manual inspections, power companies can use autonomous robots and drones trained on these deep-learning algorithms, along with sensors, to automatically identify defects and predict failures without interrupting operations.
At this juncture, there is a wide variety of solutions providers entering the industry with advanced and integrated smart power plant technologies. To help companies navigate through the best-of-breed solution providers, Energy CIO Insights has compiled a list of ‘Top 10 Power Plant Technology companies in APAC – 2020.’ The enlisted organizations are transforming power plant operations and processes at the convergence of several disruptive technologies. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for the aspiring CIOs.
We present to you Energy CIO Insights’, “Top 10 Power Plant Technology companies in APAC – 2020.”