PARIS, Oct. 6, 2020
Collective mobilisation, supported by AIoT technologies, will ensure that "green can fuel growth"
PARIS, Oct. 6, 2020 /PRNewswire/ -- Envision Digital International Pte Ltd ("Envision Digital"), a global green tech and Artificial Intelligence of Things (AIoT) technology leader, is today publishing the first edition of "EnView", the "point of view" of the Paris Smart Grid and Digital Grid competency centre on solving today's sustainability challenges.
The EnView study concludes that if the electrification of energy and generation of green electricity is the clear path to decarbonisation in the short and medium-term, it also poses challenging issues to the energy system and notably to the power grids. However, technology can reconcile "green" and "growth". Supported by the right systemic design and implementation fuelled by ongoing adoption of innovation, EnView even concludes that "green can fuel growth".
Key findings and insights from the EnView study include:
In addition to the intermittency challenge, renewables are also turning some of the classic power generation concepts upside down, as classic energy customers (be they corporations or consumers) become producers for their own needs, for communities they have formed, or even for injecting electricity into the broader market. In Europe, household generation of electricity is expected to grow by ~1,800 percent by 2050, compared to 2015. This production is hard to predict and not controllable by the grid operators. Customers can take themselves suddenly "off the grid" and create a drop in demand or decide to inject when it may not be needed. This uncertainty is reinforced by the new electric vehicle (EV) charging behaviours that are only now establishing themselves and, thus, have not been historically witnessed and modelled over long periods of time.
In this context of intermittency and uncertainty, power grids risk becoming the bottleneck that slow down energy transition.
Technology is the way forward. Not only to "reconcile green and growth", but to also ensure that "green fuels growth". Smart electricity storage systems are profiting from reduced battery costs. With the cost of battery electricity storage systems (BESS) falling by 87 percent over the last 10 years and reaching $156/kWh in 2019, they can provide precious buffers in the system. However, they will not be enough to ensure a balance on their own. Smart technologies to ensure real-time supply, demand and storage management at various geographic and time levels are needed to support a permanent balance. CE Delft estimates that by 2050, about 83 percent of European households will provide demand response and energy storage. This requires data transparency (in conformity with data privacy regulations), powerful artificial intelligence optimisation "brains", as well as reactive and resilient Internet of Things (IoT) control capabilities, at scale.
Overall system orchestration, across generation, transmission, distribution, storage and consumption of electricity, from real-time to long-term time horizons, from simple households to communities, regions, countries and continents, is only made possible by a digital platform combining Artificial Intelligence (AI) and IoT. AIoT technology is an enabler of virtual power plants that can deliver well-orchestrated microgrid or grid services.
To realise the benefits of these "smart" technologies and actually deliver the necessary flexibility, the whole framework needs to be adapted – from regulations, market mechanisms, flexibility compensation schemes down to data sharing rules. Existing flexibility mechanisms (such as capacity reserves markets in Europe) are reaching their limits as the share of renewable generation increases. Only a systemic approach to adjust the system can address this new reality.
To access the full EnView whitepaper, please visit: https://envision-digital.com/whitepaper-enview/
About Envision Digital:
Envision Digital is a global AIoT technology leader headquartered in Singapore, with more than 700 employees across 12 offices in China, France, Germany, Norway, the Netherlands, the United Kingdom, and the United States.
Envision Digital owns EnOS™ – the world-class AIoT operating system that currently connects and manages more than 63 million smart devices and 180 gigawatts of energy assets globally. Its monitoring, advanced analytics, forecasting, and optimising applications provide insights to help clients better manage their assets and portfolio performance. Its offering extends to Smart Renewables (Solar, Wind); Smart Cities; Connected Energy; and Smart Plants – partnering governments and companies in their digital transformation journey.
As a major player in AIoT operating systems, Envision Digital is growing an ecosystem of partners to enable energy and digital transformation globally. Its growing list of more than 250 customers and partners spans 10 industries and includes: Accenture, Amazon Web Services, GovTech Singapore, Keppel, Microsoft, Nissan, PSA International, PTT, Sonnen, Tableau and Total.
For more information, please visit www.envision-digital.com
EnView is a study reflecting Envision Digital's point of view on strategic questions related to decarbonisation and sustainability challenges, as well as key approaches, solutions and pre-requisites to address them. EnView is an annual publication, documented by Envision Digital's Digital Grid and Vehicle-to-Grid Global Center of Excellence (CoE), based out of Paris. The CoE is focusing on research and development around connected energy, flexibility and integration of renewables and EVs into electric grids and electric systems, and smart EV charging. The CoE is cooperating with the Creator of Solutions to Address Climate, Energy & Environmental Issues (CEA) Liten on R&D programs for these areas.
This edition of EnView is dedicated to smart grids and electricity transportation and distribution challenges in an era of growing electrification.