Electricity demand has seen a major surge globally in the past decade creating remarkable change in major markets, escalating prices of electricity to unprecedented levels, and rising the power sector’s carbon emissions sharply. Efficient and reliable electricity supply is essential for developed countries, the demand for electricity in developed countries is huge to meet the requirements of commercial, automobile, and other industries.With the electrification of automobile industry, digitalization, air conditioning and heavy usage electricity in other modern electrical appliances the demand for electricity is increasing and will be ever increasing.
Electricity Grid and its Assets are under tremendous stress because of changing demand-supply patterns and increased supply-side uncertainties. EV Charging stations and DERs (Distributed Energy Resources) are going tochange the way we have been managing the reliability of grid.
Thanks to the most popular solar and wind energy which has gained great recognition among all the other renewable energy sources in the recent times to meet the electricity growth while generating clean energy. Meeting electricity requirement and finding a steady transition from conventional energy sources to non-conventional energy sources have become a major challenge for the electrical grid. A wide scale transition to non-conventional energy sources and the ever-increasing electricity requirement has created an imbalance between supply and demand, which in turn is challenging the power system flexibility and integration of the non-conventional energy sources with the grid. Source: International Energy Agency (IEA).
Let’s Understand if we have adequate power, and for how long?
"Understanding changes in electricity demand and its impact on load forecasting is important to maintain reliable operation of the grid.
Having insights about the nature of electricity demand, variability and generation are more important to have a reliable electricity grid system than only understanding the total demand. The global electricity production has raised every year continuously since 1974, except during 2008 and 2009 when global financial crisis had reduced demand. IEA report states that after a small drop in 2020, caused by the Covid-19 pandemic, global electricity demand grew up by 6% in 2021. In the APS (Announced Pledges scenario), electricity demand increases from around 23,300 TWh in 2020 with an average annual growth rate of 2.3% over the previous decade to about 30,300 TWh by 2030, an increase of 30%, Asia Pacific region being the major consumer.
The global electricity demand is expected to increase to 60 000 TWh in 2050 in the NZE with an average increase of 3.2% per year. Emerging market and developing economies account for 75% of the projected global increase in electricity demand to 2050. It is projected that the electricity generation capacity must increase three times the present value to put the world on track. The renewable energy market is also projected to grow three times in comparison to the present generation capacity. Faster growth of renewable energy market can be achieved soon, but it is associated with a major challenge of grid integration.
Need For New and Renewable Energy Sources and its Integration with Grid
The renewable energy sources (Solar, Wind, Hydro Power, Bio Energy, Concentrated Solar Power, Geothermal and Ocean Energy) are the backbone of energy transition to ensure smooth way to achieve net zero emissions by 2050. The technological development has brought in a severe demand for electricity and now the demand is set to increase even more with the rapid rise of automation of- industries and automobile industry.
Coal and nuclear energy are still the dominant resources used to produce electricity, despite the growing concern of global warming and emission of hazardous wastes and gases. However, it is understood that depleting fossils fuels will not be able to meet the world’s total energy requirement in the long run and renewable energy sources must be utilized to meet the up-trending demand.
Integrating the renewable energy sources with the grid is critical to maintain the grid stability. Also, the electricity grid is going through a major transformation as the suppliers are locally building renewable power plants and distributing power at lower tariffs compared to grid
As the electricity generated from renewable energy sources depend on environmental changes, it is a challenge for the grid operators to maintain the equilibrium and meet the demands due to its variable generation. New and emerging concepts with asset management technology based on data analytics and artificial intelligence (AI) play a significant role and help the grid operators to ensure a steady and continuous balance between power demand and supply.
Need for Asset Monitoring Systems
The integration of evolving alternative energy sources and increasing demand have created a concern that the electrical assets which are in use from past 50 years may retire soon. Creating further stress and strain on these assets are going to put more challenges on the grid.
Grid operators are continuously looking for the most advanced multi-site multi asset online monitoring systems, through which they can understand the health of complete fleet across multiple locations, analyze the performance, criticality, failure, and expected life of the electrical assets which can help the users to take up an action before there is any serious fault.
A comprehensive asset performance management system is an available solution to monitor and generate maintenance priorities and to take appropriate decisions on asset replacement.
We at Rugged Monitoring have developed an AI based comprehensive electrical asset condition monitoring system “RMEYE” with multiple analytical capabilities in asset condition monitoring that stands way apart in technological advancement.
RMEYE is a versatile condition monitoring solution that can offer comprehensive analysis on various electrical assets spread across multiple industries. It considers every aspect in condition monitoring of different assets like transformer, cable, GIS, AIS, motor, generator, UPS, VFD, MV panel, battery, relays, etc and users to give the best recommendation for longer and better health of the assets.
With the new updated On-Prem & Cloud solution, it is an infinitely scalable condition monitoring system that can provide a detailed reporting that you require for a smooth operation of your industry.