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The world today is facing an urgent need to transform its energy system. Global energy consumption continues to grow, even if it's at a slower rate than before-around 1-2% per year Climate change remains a serious concern. Newer, stricter regulations force companies to mitigate their impact. They need to cut energy waste and even shift to alternative electricity sources.
Changing customer demand drives the energy sector, too. Consumers have started asking for sustainable alternatives. They’re pushing power companies to transform their business models. So, the timing for innovative energy solutions has never been better.
In short, innovation in the energy sector can come in many forms. Smart grids forecast peak energy demand and predict equipment breakdowns. Self-piloted drones keep track of power lines and facilities. Digital twins simulate grid upgrades and show the potential outcomes. Power consumers become prosumers when producing alternative energy sources.
The artificial intelligence of things in times of Energy 4.0 is first in the list of applied energy innovations. The trend is the combo of artificial intelligence and the internet of things. Internet-connected solutions generate data. And AI technologies help devices quickly collect and reveal insights from this data to make predictions and even perform human-like tasks.
Today power consumers choose renewable energy sources more often than they did a decade ago. As a result, they push energy companies to invest in sustainable alternatives to meet this demand. In the meantime, energy companies are transforming and scaling for clean energy. This is encouraging more people to make more environmentally-friendly choices. This chain reaction has created a new consumer model—prosuming.
Prosumers are power users that produce alternative energy on their own. This energy allows them to cover a part of their power needs and sell the excess to the local grid.
Rooftop solar panels are the most common type of prosuming for many households today. Customers may also use panel monitors to watch energy supplies and needs, and prioritize loads. For example, mobile apps can be handy here to control energy streams.
With the rise of renewables, developing energy storage facilities makes more and more sense. There are different ways of storing energy. For example, it’s possible to convert the energy into compressed air and store it in underground tanks. Another solution—pumped hydroelectric dams—generates and stores energy by moving water between two reservoirs.
Self-piloted drones are now common in many sectors—from agriculture and construction to the security and energy industry. Their adoption is driven by three main factors. IoT platforms and the possibility to store and analyze data in the cloud are on the rise. The price of hardware components is going down. 5G networks are slowly but surely spreading across the USA and Europe.
Drones can capture sensor data and high-quality images of equipment from almost any angle. Other inspection methods can hardly provide this. Inspection drones leverage sensor and video data for object tracking, self-navigation, and collision avoidance. With machine learning solutions on board, it’s easier to make sense of disparate inspection data.
Digital twin technology introduces virtual clones of physical assets. Sensors attached to equipment units can feed performance data to virtual replicas of physical units—digital twins. It’s possible to feed data to ML algorithms to detect and warn operators about potential issues or system failures so they can take immediate action.
In the energy industry, digital twins optimize the operation and maintenance of equipment, systems, and manufacturing processes.
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