Technological advances in asset management in the new energy sector

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Eng. Mayuly Rodríguez, May 6, 2023.

Introduction

In the disturbing world of renewable energy, where innovation and sustainability converge, the management of new energy energy assets plays a critical role for sustainable development.

Asset management in this sector methodologically approaches the strategic administration of resources. Its correct and sustainable management not only guarantees optimal control and operations of the assets, linked to the risks and expenses during their useful life, but also promotes the transition towards a sustainable energy future.

In this sense, the different technological advances have been key to improving asset management in the energy sector of the future. Digitization, artificial intelligence, and data analytics have become powerful tools that enable more accurate monitoring of assets, informed decision-making, and optimization of energy resources.

In the electricity sector, asset management is widely extended in all types of generation plants (wind, solar, hydraulic, combined gas cycles) and in their transmission and distribution networks.

Technological trends in the management of energy assets

Renewable energy generation technologies, such as wind, photovoltaic, geothermal, among others, require the collection, processing, and transmission of large volumes of information for asset management. For this, two elements are essential, Big Data and Artificial Intelligence, turning digitalization into a facilitator of renewable energies in the world, which will transform the way electricity is generated and distributed.

Previously, the control, supervision and monitoring of assets required regular physical inspections, which implied cost and time constraints. However, thanks to the development of new technologies, a radical transformation has been achieved in the way assets are managed in the industrial sector.

The data and information generated by the assets are analyzed and used to optimize performance, therefore, improve their efficiency. Here we mention two fundamental trends for asset management:

Digitization : Renewable energies are increasingly playing a leading role in the electricity sector. Companies working on energy efficiency require transparent asset management. In this sense, digitization comes into practice to optimize the processes and energy services they offer.

With digitization, the industry allows greater control and monitoring of production processes, which improves efficiency and reduces production costs. Automation and monitoring of assets allow adjusting the production process to maximize it and also optimize maintenance.

This trend opens the possibility of measuring, adding value and offering opportunities for the areas of generation, transmission and distribution of the so-called energies of the future, providing continuous optimization in the processes.

“According to a report by the International Renewable Energy Agency (IRENA) , digitization can increase renewable energy production by up to 6% and reduce operating costs by up to 10% in the wind power sector”

This process leads to greater efficiency in the follow-up, monitoring and evaluation of the assets of the new energy sector. The development of software platforms, sensors and visualization tools allow asset managers to make informed decisions in real time. Among the developed technologies that contribute greatly to asset management in this sector, are:

1. Digital Asset Management System (DAMS): They allow asset managers to collect, store and analyze large volumes of data safely and efficiently. With DAMS, assets can be monitored and evaluated in real time, facilitating informed decision making about asset maintenance, repair, and optimization.

2. Sensors and smart devices: These are installed in the assets in order to collect data on their: performance, energy consumption, temperature, vibrations, among other parameters. This information is valuable for assessing condition and efficiency, enabling proactive and optimized asset management.

3. Internet of Things (IoT): The interconnection of assets through IoT establishes communication between them with centralized management systems. Facilitating the collection and sharing of live data, as well as remote control of assets. Tracks performance to support critical O&M workflows

For example, wind farms can use IoT sensors to monitor the performance of turbines and optimize their production. Simulation and modeling techniques are also used to identify areas for improvement and perform virtual tests of different scenarios.

Case of success. General Electric (GE): It is one of the companies that has obtained great benefits by implementing this technology. It uses IoT sensors to collect data from your wind turbines, allowing you to track the performance of each one and detect potential problems before they become serious failures. Thanks to this, GE has managed to reduce maintenance costs and increase the useful life of its turbines.

4. Data analysis platforms: Designed to use advanced algorithms that process and analyze large amounts of data generated by the assets during their operation. These platforms identify patterns, trends, and anomalies that help predict failures and optimize preventative maintenance.

Artificial Intelligence: This science drives efficiency and decision making. It has revolutionized asset management in many industry sectors, but in the new energy sector it provides powerful tools to optimize performance and improve asset management. With its application, large amounts of data are processed and its algorithms make it possible to identify patterns and make predictions with a high degree of precision.

Artificial intelligence is applied in various areas of asset management in the new energy sector, such as:

1. Predictive and predictive maintenance: These are innovative methodologies in asset management that maximize their useful life. These techniques are based on the collection and analysis of data to detect problems before they occur and take preventive measures to avoid asset failures leading to better process management.

Technological advances in sensors and permanent monitoring systems allow the collection of data in real time, which facilitates predictive maintenance. In addition, artificial intelligence and machine learning are being used to improve accuracy and efficiency in problem detection and decision making in these maintenance. This prevents unplanned shutdowns and optimizes asset management programs.

2. Production optimization: AI is used to optimize energy production in assets such as wind farms and solar plants. AI algorithms analyze live data such as wind speed and solar radiation and automatically adjust asset settings to maximize power generation.

3. Management of energy demand: The use of AI helps to predict and manage energy demand . AI algorithms forecast demand patterns and help with optimization of power generation and distribution, avoiding waste that reduces costs.

4. Optimization of energy efficiency: They use AI to analyze energy consumption data and usage patterns, which identify optimization opportunities and improve the operational efficiency of assets.

The implementation of artificial intelligence is driving efficiency and decision-making in asset management in the new energy sector. Its application is leading to a more intelligent and sustainable management of energy resources.

Developing innovations: Technological trends in asset management in the new energy sector do not stop here. Innovative solutions such as drones and autonomous robots are continually being developed, which are used to inspect and monitor assets in hard-to-reach areas, improving process management. Virtual and augmented reality solutions for training and technical skills development are also being investigated. Which promises even more advanced and effective solutions in the near future.

Process optimization in asset management

These play a crucial role for the optimization of asset management in renewable energy plants. These facilities are designed to make the most of natural resources and generate electricity in an efficient and sustainable manner, as long as they are registered and comply with asset management processes.

The optimization of asset management implies improving the performance of all the assets involved in order to achieve better energy efficiency in the plants, thus maximizing the production of clean energy. This is achieved through the implementation of advanced technologies, the monitoring and analysis of data, and the application of innovative methodologies.

Modeling and simulation techniques are used to evaluate different scenarios and optimize operational processes. This allows adjusting parameters, such as equipment configuration or maintenance schedules, in order to obtain higher production and minimize operating costs.

The correct implementation of asset management in renewable energy plants contributes to progress towards a more sustainable energy future, taking full advantage of the potential of these energies.

Sustainable approaches in asset management

Optimization of existing assets as a fundamental step towards the energy transition; Within the range of solutions available for the transition, the study and optimization of industrial assets in use must be a priority, both due to the potential for effective savings in terms of environmental energy and circular economy, as well as the high multiplier effect that this entails. type of actions at any scale in this industrial sector.

Energy efficiency is a key asset management approach in the new energy sector. It seeks to maximize the amount of energy produced or used in relation to the resources used. This implies implementing technologies and practices that reduce energy consumption and optimize its use, to keep assets in better condition. The efficient management of energy assets contributes to the reduction of greenhouse gas emissions and the achievement of sustainability objectives.

It is a great contribution to the sustainability of asset management , implementing technologies in clean energy generating plants, which allow energy demand to be kept under control so that it is more stable, calculating maximum and minimum ranges, to have more limited scenarios, easy to analyze and to optimize. Beyond this, the reduction of consumption peaks also contributes to extending the life of the equipment and allows better asset management.

Conclusion

Clearly, there is no single way to take advantage of the advantages that digital technologies bring to the asset management process of energy facilities, but we are sure that they represent an opportunity to improve business for companies in the sector, reducing operating costs. and facilitating their adaptation to new demands, improving flexibility, market anticipation or facilitating new business models.

Asset management in the new energy sector is at the crux of the energy transformation. Technological advances and trends are driving a significant evolution in the way assets are managed and sustainable opportunities are taken advantage of.

Energy efficiency and the integration of renewable energies are key pillars to achieve sustainable development. These approaches not only contribute to the reduction of emissions and the preservation of the environment, but also allow for greater efficiency, optimization of processes and preventive maintenance, which drives sustainable development and maximizes economic benefits.

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