From the environmental, industrial, and societal perspectives the future is green. The global carbon-reduction targets have placed renewable energy at the center. Investing in emerging markets, such as the energy industry, is now an attractive option. Besides, renewables are not only environmentally friendly; they are affordable in most cases and offer several other economic benefits.
But another set of energy generation technologies is emerging spurred by advancement and innovation and are disrupting traditional energy generation models. Amid all these dynamics, can renewable asset management still add value?
We’ll find out next.
New Energy Generation Technologies
A profusion of new energy generation technologies is growing. Consumers are excited about these new options, but some are yet to understand the technologies fully. If you thought that renewables stop at solar PV, wind, and hydro, then you are wrong.
Green hydrogen technology is one of the most exciting emerging energy technologies. Canada and a host of other countries are already spearheading this source. They are certain it will be one of the next big things. If you doubt the potential of green hydrogen, remember that this technology could reach the levels of natural gas and oil as we know them today. Its capability to support the integration of renewable energy into the grid is exciting. Even better, this technology can achieve a lot in terms of decarbonizing heavy-duty transport, industrial processes, and gas heating. Hence this is an area to watch for asset managers.
Investors are also looking at floating solar. Several large-scale projects of this nature have already been launched in several places across the globe. There is so much potential in this technology that the World Bank thinks that it will soon surpass 400 GW installed capacity.
Tidal power is also growing steadily despite its reputation of high cost and poor availability. There are already popular stations across the world including South Korea’s Sihwa Lake Tidal Power Station and a 398MW installation in Scotland.
Another emerging energy option is biomass. It is a method of capturing methane gas as organic materials decompose naturally. Environmentalists see this as one of the best ways to create a balanced atmosphere- the amount of carbon dioxide generated is consumed during the regeneration of the plant matter.
Airborne wind technology is also growing and could be a household alternative energy in a decade. Investors in the northern hemisphere had better prepare to tap the massive wind in the troposphere.
Harness Asset Management to Optimize Performance
Our planet is more secure when energy generation technologies advance. But it is equally important that the companies behind these technologies also thrive. The secret to success for these organizations is efficient operation.
They should generate energy with minimal outages. In a competitive environment, meeting customer expectations is paramount. To be in such a situation, the energy companies need to place their RE assets in good health. Long-term working strategies are what they need to be assured of success.
That’s where the application of tested and effective tools and strategies comes in. Implementing these solutions in the portfolio of assets can make a big difference.
Soon, emerging technologies will have significantly more share of the market. Successful RE companies will probably be those that are flexible enough to align with market innovations and developments. Even if competition in the area is still largely nonexistent, there is no better time to prepare for this eventuality than now.
For modern energy generation technology organizations, planning for equipment downtime and organizing field technicians can be challenging. Renewable energy asset management software is an irresistible solution for such. Smart alerts and maintenance schedules are some of the benefits they accrue from software.
To help tackle the hiring and resource management challenge, the renewable energy asset manager takes advantage of software to proactively manage operations and financials. Additionally they can benefit from automating and simplifying repetitive tasks such as invoicing and reporting.
How QBI Solutions Can Help
As the power generation industry diversifies and modernizes, QBI can offer support to companies investing in emerging markets and remain competitive.
We believe RE companies entering this industry segment are facing new business management challenges emanating from new business models. For their business strategies to succeed, these businesses must implement the appropriate management methods.
We offer inventory management services. You no longer have to worry about downtimes resulting from maintenance activities. Our tool can help you manage crucial spare parts effectively. It doesn’t matter the number of sites you are handling; QBI will give real-time access to stock levels. You can even forget about the headaches of tracing just-in-time ordering and lead times.
Here are more reasons this is RE asset management with a difference:
● Status of operational assets monitored on a real-time basis
● Optimal maintenance of varied assets
● Access to field workers who can modify relevant data
Conclusion
As demand for energy rises globally and emerging generation technologies grow, renewable energy providers need to expand their businesses and enhance performance. Even with conventional RE sources, asset management presents unique challenges in each situation.
As more providers opt to take up multiple energy sources including emerging ones, we cannot afford to overlook the need for a unique platform. We are in a frontier where asset management is moving beyond solar PV and wind.
So, do you have the capacity to manage multiple and different RE assets across different locations?
About QBI:
QBI offers an end-to-end process optimization and information integration platform that allows our clients to manage their assets and operate optimally in all stages of the project: development, construction, asset management, and M&A. It is designed by, and for, renewable energy professionals, and is flexible and configurable by country, state or region, and technology, regardless of the energy source. Your projects, associated tasks, documentation, dashboards and other project-related information are centralized and digitized.
Additionally, we can connect to any peripheral information system, thus optimizing the use of your infrastructure and assets, reducing operational costs, driving energy efficiency initiatives and improving the financial return on your investment. If you want to join the more than 17 GW of Controlled Capacity managed through QBI, then we have all the information you need in our website.
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