Expert insights on data-driven solutions in energy
Digital transformation and technologies like AI and big data have accelerated innovation in the energy industry. This has had a profound effect on the way that energy is produced, distributed, and consumed.
Power and utility companies need to balance supply demands while maintaining the resilience of the power grid sustainably and equitably. Collaboration is key to keeping up with rapid changes, addressing these challenges, and driving progress.
We invited three industry thought leaders to discuss top trends and explore how digital transformation plays a critical role in aiding a clean energy transition.
Modernizing the energy grid using policy, data, and investment opportunities
The energy grid is the foundation of the power system. Modernizing the grid involves making it more intelligent, flexible, and efficient. Utility companies are implementing new technologies, data-driven approaches, and investment strategies to manage the growing demand of the grid.
Dr. Karen Wayland is the CEO of the GridWise Alliance, an organization that advocates for grid transformation through technological innovation, public and private investment, and policy.
Wayland recognizes the trend of the electricity sector converging with communications as a game changer, providing the opportunity to use distributed energy resources to transform the electricity system into a platform that can positively impact society. “Utilities are making investments in their communication network through broadband, either wireless or fiber, which might produce the capacity to provide high-speed internet in areas without access to these technologies. This would be a huge economic driver for local communities to thrive,” says Wayland.
As sectors converge within the grid, data sharing also occurs, facilitating more cloud computing and data capabilities throughout a utility’s life cycle. As more technology is added to the grid, more data will be generated—making cloud storage and data analytics critical components of grid modernization.
Check out Wayland’s in-depth discussion about investment opportunities and overcoming policy divergence across utility and power agencies.
Audio description version: https://youtu.be/gd5reeHds6c
Harnessing data analytics in power and utilities
Data and analytics will be the engine that drives the future of the energy industry. By adopting a data-driven approach, power and utility companies are making better decisions, increasing efficiency, and boosting security.
Gina Weber is the Managing Director of the Utility Analytics Institute, which works to advance data analytical capabilities. According to Weber, integrating data with AI technology is crucial to analyzing large data sets and enhancing services.
“The utilities are seeing AI’s ability to perform near-real-time, short-term, and even long-term maintenance of assets based on the sensors and data points,” says Weber. “For example, they can use advanced metering infrastructure or smart meters.” Innovations like smart technologies also help to implement sustainable energy infrastructures.
With a vast amount of data being generated, collected, and aggregated, companies are aware of the associated risks and are making cybersecurity a top priority. Companies are adopting business practices that use new technologies to proactively detect, prevent, and stop cyber threats.
Discover more insights from Weber, such as how data analytics serves as a bridge between technology, real-world applications, and customer service in the full interview.
Audio description version: https://youtu.be/5yVYipdZRmQ
Building momentum in the transition to clean energy
According to the US Department of Energy, buildings account for approximately 40 percent of the United States’ total energy consumption, which contributes to carbon emissions. Data-driven solutions are imperative to help address this issue and achieve sustainability goals.
Bill Kent is the Executive Director of the Association of Energy Engineers, a nonprofit organization committed to improving energy efficiency, reducing greenhouse gases, and making buildings perform better to achieve global net-zero goals.
According to Kent, it’s important to recognize buildings as active participants in energy supply and demand and the critical role that they play in demand forecasting and optimization. “We must first shift our mindset to realize that buildings are part of these distributed energy resources,” says Kent. Merging renewable energy and storage into a smart grid will require more data from buildings, leading to the massive integration of AI.
Using the infrastructures already in place is a major asset for energy companies that are working toward decarbonization and the transition to a clean energy future.
Check out Kent’s discussion to learn more about the role of data and technology in predicting energy needs, stabilizing market pricing, and controlling supply and demand outputs.
Audio description version: https://youtu.be/B8gujyUzbdU
Investing in a sustainable future
Digital transformation is accelerating the modernization, efficiency, and resiliency of the energy industry. Collaboration in policy updating, investment campaigning, and data sharing can help us achieve a sustainable future.
Microsoft provides the tools needed for a successful business transformation in the energy industry. Learn more about Microsoft for Energy and Resources.
