The swift pace of digitisation has affected almost every sector, bringing numerous benefits to them. They all are embracing changes and adopting cutting-edge technologies to streamline their resources and serve the customers better. Power sector is not behind in employing these technologies. Keeping in line with the trend, the power industry is moving to Artificial Intelligence (AI), Internet of Things (IoT), Cloud and other technologies to enhance its efficiency. Pandemic-induced effects augmented the pace of adoption of the technology in the sector.
As the world is striving to achieve ambitious sustainability targets, it is indispensable to use the ultra-modern technological solutions to resolve various issues in the power sector. These technologies have immense potential to ease the hurdles the power sector is facing for a long time. The sector has myriad challenges to deal with in this decade. One of them is to make adequate power provision for all. And the other one is keeping the cost as low as possible. Besides, there are issues that need serious attention in the days to come.
The potentials of Artificial Intelligence (AI) can increase the pace of changes the power sector is going through. It is obvious that the technology will work as the brain of future smart grids. It will collect the humongous amount of data coming from millions of smart sensors and assist in analysis and thus decision making on how to allocate power in the best possible way. Apart from that, the advanced algorithms can be extremely helpful in understanding patterns and anomalies in the large data sets that can transform both the demand and supply side. On the other hand, smart meters can help in constant monitoring of the demand and supply. Electricity flow from the grid can be measured in real time through synchrophasers and further allocation can be monitored. These sensors will be extremely efficacious in communicating with the grid and modifying electricity use during off-break times that will ease the workload of the grid and reduce the costs.
With AI, the industry can cut energy waste, lower costs, and increase the use of renewable energy sources in power grids. It can also facilitate the operation, maintenance, control, planning and execution of the power system. The AI based system can significantly enhance the quality of services to the consumers by connecting power generators and grid managers.
The transformation of power infrastructure has opened huge opportunities for utilities. They can now access a humongous amount of data on a real-time basis and analyse them to get efficacious insights. But the collection, storage, processing and analysis of such enormous data is difficult for the industry. In such a scenario, cloud computing has emerged as a great help before the sector, providing solutions to these problems. The technology can help immensely in the storage and analysis by enhancing the utilities’ computing and analytical capabilities. It can also be a great help in managing grid operations, outage management systems, advanced metering infrastructure, demand management systems, workforce management systems, and customer billing and accounting systems. As the cloud decreases the stress on the existing infrastructure by reducing the need of data storage and server configuration, it significantly lowers the costs.
At a time when deregulation and privatisation are increasing the competition in the power sector, cloud has come up as a great tool to successfully penetrate the market. The Cloud computing services have enabled the use of shared IT infrastructure and services that are helpful in creating a flexible, scalable and on-demand IT environment. The technology has increased the speed of operation by allowing transfer of data coming from different instruments at an unprecedented pace.
The introduction of the Internet of Things (IoT) has empowered the power sector greatly. The application of the technology in various utilities can improve the efficiency of the sector and thus increase the revenue generation. The IoT enabled equipment can be extremely helpful in optimization of energy, water generation and power distribution, thus meeting the demand for power. The IoT sensors have potential to boost up the security of the workplace thus protecting workers from any undesired incidents. The technology is also very useful in forecasting the demand for power in the near future that can help the sector in the preparation for the same. Apart from that, it can be extremely effective in predictive maintenance, energy efficiency and performance improvement.
The ever increasing demand for power has made it indispensable to use the best technology available to enhance the efficiency of the sector and meet the expectations. AI, cloud and IoT are extremely helpful in saving energy and cost, monitoring demand and supply and effective distribution of power. Besides, they come up with various other benefits that the energy sector needs to avail. The Indian power sector is embracing the technology with a firm desire to make it efficient and serve the very purpose of power.