We’re entering an era of massive change in the energy sector. Renewables are demanding for new capabilities: data collection and exchange are growing exponentially, creating digital threats which are at the same time valuable opportunities.
These opportunities are present for all the renewables actors, but let’s dive in in each category’s new revenue opportunities:
Asset management: Highest system performance at the lowest maintenance cost
In the digital era O&M companies are able to automate their asset management. Thanks to dozens of systems they can automate most of the tasks, such as financial and performance reporting, contracts management, and improve their results from many other tools, leading to a more efficient asset management.
Energy trading: Managing price volatility in the energy markets
This is a revenue opportunity for asset managers and sometimes O&M companies. Indeed, energy trading has never been so simple, thanks to lots of energy trading and risk management (ETRM) and load optimization software in the market. Nowadays’ applications can cover all aspects of a transaction lifecycle, eliminating any chance of human error while aggregating, blending, and analyzing inputs from all data sources, which allows you to manage and automate your energy trading.
Energy communities: Allowing multiple participants to benefit from one solar array.
In liberalized markets, PV developers and system integrators with strong technical and financial background can operate energy communities. Many tools allow to automate the billing process, optimize complex energy production, storage and consumption systems and trade energy or flexibility sources in electricity markets. So, thanks to the digital energy these companies can now compete with larger utilities.
Aggregators: Maintain grid stability and reliability.
Today it seems that every energy trader and power producer wants to become an aggregator of renewable energy, storage or demand response resources. They can do this, by exploiting the aggregation and real-time action of energy assets and industrial loads can provide accurate frequency regulation and demand response. Nowadays energy trading softwares operate in an asset-agnostic environment that leverages open APIs for asset integration. This enables various DER asset types and tailors optimization needs to the specific value proposition in any geography.
Indeed, the software necessary to achieve all these great opportunities is out there, companies just need to understand what they really want to achieve and go for it.
This is the third of a series of articles, where we take a look at how energy companies can boost their performances through digital energy. In this series we will discuss:
- Main struggles with energy monitoring and management software
- Benefits of digitalization in the power industry
- Vertical all in one solutions Vs. Building your own energy software