Smart transition is critical for a sustainable energy future

Discussing the technology trends shaping the energy space and their role in meeting the climate targets, Prashanth, Manager – Product Development at Manav Energy, explains to us that introduction of new technologies and digital transformation have forced the traditional utility sector to reinvent itself and ride the wave of change to stay competitive.
The energy sector is becoming more intelligent and environmentally friendly. How do you assess this trend?
Over the years, digital technologies have made the world more connected, intelligent, reliable, and sustainable. The COVID-19 crisis has accelerated the digitalisation of everything we do. We have seen tremendous growth opportunities in adapting to new technology in the energy sector. Industries are looking for innovative technologies that can reduce the workforce and improve the safety and efficiency of the system. And I am sure these trends will increase for another 5-10 years. Also, artificial intelligence will play a crucial role in the coming years in this sector. It is the fastest-growing branch of the high-tech industry and has seen greater interest in energy management, conservation, and transition.

Renewable energy has been gaining momentum along with the EV space, which goes hand in hand. If India’s zero-emission target is achieved by 2070, renewable energy will play a vital role. Also, we expect some disruption in this industry as we see a couple of players working on such technologies that would change the way we look at the renewable energy space. Indeed, we will see a breakthrough technology in space in the coming years.
How will this smart and environmentally friendly transition meet utility environmental concerns?
As utilities shift to cleaner energy sources, they are also working to modernise their grid infrastructure. This smart and environmentally friendly transition will help meet utility environmental concerns. New technologies enable renewable energy sources in a distributed fashion, storing energy and managing rapid demand variations more efficiently.

These innovations are crucial for a sustainable future.
Utilities are also working to engage customers in this transition. Smart metres and other forms of digitalisation provide customers with more information about their energy consumption. This increased transparency can help people make more informed decisions about energy use.

What challenges do utilities face in maintaining energy efficiency and safeguarding power plants?
The power sector has been undergoing dramatic changes, shifting from a model of centralised, vertically integrated systems using a smaller number of large power plants to a system with a large number of power producers of various sizes, many of which use variable renewable energy resources. At the same time, the role of digital technologies is increasing very rapidly.
The arrival of new technologies and digital transformation has forced the traditional utility sector to reinvent itself and catch the wave of change to stay competitive.
New technological and ecological trends shape the digital transformation in utilities and the power industry. The demand for clean energy and the requirement for decarbonisation continue to force businesses to take a new approach.
One of the challenges being faced is maintaining and modernising erstwhile assets, which are ageing and not equipped well to meet the demands of a changing industry. As technologies like Smart Grids gain more and more traction, integrating physical assets with information technology (IT) remains a task for many companies.
Yet another area where much focus is needed is digital transformation through sensor-based data capture and artificial intelligence (AI). AI-based management would help in the predictive maintenance of these assets, thus helping with (a) cutting energy waste, lowering energy costs, and increasing the use of clean, renewable energy sources in power grids. Centralised asset management systems and digitised information will help generate intelligence from the collected data and make objective decisions.
How can your IoT and IIoT intelligence help utilities maximise efficiency and safety in their power operations?
IIoT intelligence can improve system efficiency by tracking performance and predicting failures ahead of time. This will allow us to take proactive preventive and routine maintenance steps that eliminate unplanned downtime. This will also help reduce human errors to zero. IIOT is one of the advanced ways to improve safety and manage to help companies collect data, streamline operations, predict fault conditions, and increase productivity. Most recently, many companies are adapting to new technologies to ensure that both lives and livestock are safe and help to optimise operational efficiency.
India intends to build 820 GW of electricity-generating capacity by 2030. What do you think about this in practice?
Out of 820 GW of generation capacity, 500 GW is expected to come from non-fossil fuel sources. I have seen many companies working on developing breakthrough technology in the solar and green hydrogen space. It is a great time and opportunity for India to be at the forefront of renewable energy and grow to become a global supplier without compromising on zero-emission targets. We must invest our time and money in researching and developing new technologies to help us achieve our target with less time and money.