Around 50% of the shift from fossil fuels to renewable forms of energy has been a digitised transition to 2020, says Energinet, Denmark's power system operator. As the world digitises further, the already vast volumes of data will only increase in mass. Advances in Artificial Intelligence technology and machine learning tools provide ways of processing this tsunami of data into a new world order
The energy industry is starting to understand where artificial intelligence can be applied effectively
GRID CONTROL Artificial Intelligence could be a requirement as transmission network operation becomes increasingly complex
DATA MASS Storage and management of the rapidly increasing levels of data will add 20% to global energy consumption
KEY QUOTE One day AI will be everywhere because it will be impossible to manage assets in a sophisticated grid without really addressing the relationship between infrastructure and environment ...
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A lot of unexploited value lies in the new ability to collect highly detailed data on electricity use
Efficiency gains in the power sector resulting from the uptake of artificial intelligence are indisputable, says Géraldine de Decker, Innovation Advisor at Eurelectric, the European power sector association, citing cost reductions along the value chain and lower bills for consumers
Revolution is a big word, but it is appropriate to describe what digitalisation will do for district energy in the years to come, says Anton Koller, Head of District Energy at Danfoss. It will make it more sustainable, more customer friendly and more competitive than ever — but we need to embrace and lead the change
Data is having a major impact on our world. In energy, an influx of data is changing the roles of each player across the value chain but it needs to be gathered and processed in a suitable way to have the greatest influence. Ensuring the data is right to begin with is essential to the success of the energy transition
Online platforms can deliver transparency around PPAs, bring down transaction costs and enable new entrants in the market
Understanding what disruption means in relation to the energy transition is important for all current and potential energy industry players, says Albert Cheung, Head of Global Analysis at BloombergNEF