In the energy sector, it is not uncommon for large capital projects to significantly exceed budget and experience extensive delays. ABB Adaptive Execution addresses major inefficiencies that result in cost and schedule overruns. It enables greater visibility across all layers of a project, unlocking significant project value improvements across the energy sector. With digitalization and […]
Read more →![[Report] Frost & Sullivan Best Practices Award: 2020 Global IIoT Platform for Power Generation Product Leadership](https://iiot-world.com/wp-content/uploads/2020/05/shutterstock_411174613-e1588868165703.jpg)
The fourth industrial revolution, also known as Industry 4.0, delivered the Industrial IoT (IIoT), which leverages the internet and computing infrastructure to connect machines, processes, and people. According to Frost & Sullivan’s estimates, as of 2019, the potential revenue opportunity for Industrial IoT in power generation was $1.97 billion. The revenue opportunity will accelerate in […]
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Whether you are an advocate for distributed power generation, renewables, or simply a fan of technology and free power sources, there is no denying that wind power represents an opportunity to enhance power generation while maintaining carbon neutrality. It is no wonder that the number of wind turbine installations is increasing across North America. In […]
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Half the world lives in cities. By 2050 that figure will rise to 70 percent, boosted by the 2.2 billion more people who will live on the planet at mid-century. Cities generate 80 percent of the global gross domestic product and swallow 75 percent of natural resources, producing around 80 percent of global greenhouse gas […]
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In most of the world today, power producers are operating in uncertain times. As traditional operating models are upended by new sources of energy, particularly wind and solar, steam power plant operators find themselves running plant and equipment in ways never intended by their designers. This stresses not only the equipment but also budgets and […]
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Digitalization holds great promise for the power generation industry. However, a range of internal and market challenges can constrain its effective uptake and implementation for those early in the digital journey. Digitalization can play an important role in solving a range of operational and business challenges for power generation companies.Four key challenges for power generation […]
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The development of Industrial Control Systems (ICS) over the past two decades has changed the face of many industries. Operational Technology (OT) – largely industrial equipment – has become increasingly connected, and the integration of Information Technology (IT) components allows such devices to leverage software that drives data collection and analysis, resulting in enhanced performance […]
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Virtual power plants/pools (VPP), are fast becoming a driving force in the power industry, due to rising demand for energy and the global turn to renewables. By 2025 there will be 1 billion more people on the planet, all requiring electricity. And by 2040, 60 percent of the power generated worldwide will come from renewable sources, […]
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One in five power plants will become digital plants by 2025, a Capgemini’s report predicts. Back in 2016, the maturity of digital initiatives in the industry varied: from projects that were leveraging advanced analytics to optimize assets; and the widespread implementation of smart meters; to early moves by some utilities to manage and integrate distributed […]
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The power industry has a long history of embracing the benefits of digital technology. For decades, power plants have used remote sensing, networked communication, data aggregation, monitoring and control systems to optimize their generation, transmission and distribution systems. The new level of digitalization ushered in by the 4th Industrial Revolution, is enabling power generators to […]
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Digitalization holds great promise for the power generation industry. However, a range of internal and market challenges can constrain its effective uptake and implementation for those early in the digital journey. Innovative companies that approach digitalization strategically, balancing the short and longer term objectives of the business, will gain a significant competitive advantage, improving their […]
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