Smart demand response could provide 185 GW of system flexibility, roughly equivalent to the currently installed electricity supply capacity of Australia and Italy combined. Digital technologies are already widely used in energy end-use sectors, with the widespread deployment of potentially transformative technologies on the horizon, such as autonomous cars, intelligent home systems and additive manufacturing (3D printing). All of this has enabled commodities trading firms to enter a new market era. The New Era of Energy: Reinforcing Energy Industry Through Digitalization Transformation An opportunity for student associations to improve themselves, to develop new innovations, and to expand their connections with future petroleum engineers to be technically advanced, socially informed, and supplied with the ability to strive. The Interoperability Unit contributes to the governance of energy in the EU but also to the digitalisation of the public sector. GE Power and the Digital Energy Transformation. Privacy and data ownership are also major concerns for consumers, especially as more detailed data are collected from a growing number of connected devices and appliances. 3D printing can produce products in layer by layer fashion, on demand and directly from digital 3D files. But it also raises questions of security, privacy and economic disruption. Digital technology applications for CO2 capture are similar in nature and benefit to digitalisation in industry and power generation. Digitalization: A New Era in Energy •The energy system is on the cusp of a new digital era •This first-of-its-kind “Digitalization and Energy” report will help shine a … For example, sensors can provide the exact status of various components of the essential equipment in real time and analytics can compare the actual configuration with the “optimal” situation as designed so that the process can be optimised. The overall savings from these digitally enabled measures could be in the order of USD 80 billion per year over 2016-40, or about 5% of total annual power generation costs based on the enhanced global deployment of available digital technologies to all power plants and network infrastructure. Digitalization, triggered by the coronavirus, has changed how energy is consumed in many countries. California's programme of pilot projects in electricity demand response and smart grids is a good example. Digital technologies will have significant consequences on energy demand and supply in terms of efficiency, reliability and sustainability. With regards to electricity, digital data and analytics can reduce power system costs in at least four ways: by reducing operations and maintenance costs, improving power plant and network efficiency, reducing unplanned outages and downtime, and extending the operational lifetime of assets. Source: Accenture Digital Energy Trends¹ There is growing consensus that the Oil and Gas industry is on the cusp of a new era, as a wave of business and digital technologies looks set to reshape the sector, propelled by a series Other examples are the use of automated drilling rigs and robots to inspect and repair subsea infrastructure and to monitor transmission pipelines and tanks. In the residential sector alone, 1 billion households and 11 billion smart appliances could actively participate in interconnected electricity systems, allowing these households and devices to alter when they draw electricity from the grid. About 54% of households now have internet access at home. Policy makers should be aware of the possibility that new digital devices and services have the potential to increase energy consumption, for example, as a result of growing quantities of smart household and consumer electronics. The recent IEA report, the Future of Trucks, found that applying digital solutions to truck operations and logistics could reduce road freight’s energy use by 20-25%. According to a January report by Accenture on digitalization in the oil and gas industry, the primary barriers to change or adoption include: Regulatory frameworks that are struggling to adapt to a new era of data sharing along value The importance of energy efficiency for a carbon neutral society. For instance, if lifetime of all the power assets in the world to be extended by five years, the close to USD 1.3 trillion of cumulative investment could be deferred over 2016-40. Energy market and regulation professional with experience in 3 continents. The strong growth in demand for data centre services is offset by continued improvements in the efficiency of servers, storage devices, network switches and data centre infrastructure, as well as a shift to much greater shares of cloud and hyperscale data centres. In some rapidly emerging economies, including China and India, electricity demand in buildings grew on average by more than 8% per year over the last decade. They are interlinked as, for example, demand response will be critical to providing the flexibility needed to integrate more generation from variable renewables. Over the coming decades, digital technologies are set to make energy systems around the world more connected, intelligent, efficient, reliable, and sustainable. Policy and market design are vital to steering digitally enhanced energy systems onto an efficient, secure, accessible and sustainable path. Global potential of demand response and its implications. More precise accounting is critical for verification schemes and towards ensuring integrity in carbon certification schemes such as carbon markets. Technically recoverable oil and gas resources could grow globally by around 5 percent (equal to over 10 years of current global consumption), with the greatest increases expected to be in shale gas. This era will be dominated by crosscutting digital tools and platforms that can be applied to the energy Much of the digital transformation and innovation from the oil and gas industry appears to be transferable to CO2 storage assessment and development as well. They are becoming networked, energy self-s Breaking News INTRODUCING A NEW ERA … Transport currently accounts for 28% of global final energy demand and 23% of global CO2 emissions from fuel combustion. Governments should strive to provide technology-neutral and delivery-route-neutral policies and platforms for digital energy (for example in relation to the role of smart meters or other energy management systems), to allow a variety of companies to compete to find new business models and to serve consumers better. Digitalization is emerging as a technological driver of change around the world and provides businesses with abundant opportunities for growth and monetary gain. We will need to change the mindset within the industry and force a change in the types of timescales we operate in. Data collection and exchange are growing exponentially, creating digital threats but … As early as the 1980s, Oil and Gas companies began to … the possibility by users to vary their electricity use according to price variations, will "free up" 185 GW of electricity (roughly equivalent to the currently installed electricity supply capacity of Italy and Australia combined), with savings of USD 270 billion of investment in new, otherwise necessary, electricity infrastructure. It used targeted email messages containing fake Microsoft Word résumés for engineering jobs, potentially exposing recipients’ credentials for the control engineering network. It’s simply our new normal At the same time, aggregated and anonymised individual energy use data can improve understanding of energy systems, such as load profiles, and help lower costs for individual consumers. Digitalization has the potential to enable a true “smart grid,” which uses battery storage and the “smart” release of renewable-generated energy, as well as a more responsive service for end users. It is hoped it will foster further discussion among governments, companies and other stakeholders. Digitalization: A New Era in Energy •The energy system is on the cusp of a new digital era •This first-of-its-kind Digitalization and Energy report will help shine a light on digitalization's enormous potential and most pressing challenges Oil and gas companies have long used digital technologies to improve decision making for exploration and production assets, including reservoirs and pipelines. -Expected impact: Demonstrate in several pilots how the smart systems (smart controllers and smart appliances) can be integrated in the existing buildings to interface and/or to control the major energy consuming domestic appliances that are already installed; The pace and extent of digitalisation and its impacts on jobs in the energy system remain highly uncertain, and will depend on a number of factors that will vary across regional and sectoral contexts. Digitalisation can facilitate the development of distributed energy resources, such as household solar PV panels and storage, by creating better incentives and making it easier for producers to store and sell surplus electricity to the grid. Education policies and technical training to ensure an adequate pool of relevant expertise for both the private and public sectors will also be critical. Examples of such solutions include GPS coupled with real-time traffic information for route optimisation, on-board monitoring and feedback that enhances eco-driving performance, vehicle connectivity that can safely reduce gaps between platooning trucks to improve fuel efficiency, and data sharing between companies across the supply chain to ship more goods with fewer trips. Governments may also consider setting up equivalent digital "sandboxes" along the lines of fintech test zones developed in Australia, Indonesia and Singapore. In the medium term, digital technologies could be employed to improve data analysis and speed up data processing. For example, one recent study quantified the energy and resource impacts of selected lightweight metallic additive manufacturing components in the US aircraft fleet, under different adoption scenarios to 2050. It has several advantages compared with conventional manufacturing, including reductions in lead time, reduction of scrap materials, lower inventory costs, less manufacturing complexity, reduced floor space and the ability to deliver manufactured pieces with complex shapes and geometries. The digitalization of the power infrastructure is not a new idea. This approach is particularly important in electricity where the transition to smart energy systems may require significant changes in market design. Renewables, distributed generation, and smart grids demand new capabilities and are triggering new business models and regulatory frameworks. Demand response, i.e. This report is based on a global survey 1 of 1,919 energy industry professionals, alongside in-depth interviews with market leaders and insight from business experts. in thermal smart grids) in response to real-time energy prices or other conditions specified by the user. A major part of this endeavour consists of ensuring that energy policy makers have access to staff with digital expertise. This large range highlights the potential role for policy to drive further efficiency gains. As billions of new devices become connected over the coming years, they will draw electricity at the plug while driving growth in demand for – and energy use by – data centres and network services. What is new, is the pace of digitalization occurring through technological innovation, providing solutions that enable the energy system to be transformed? Policy-making processes can also benefit from more timely and sophisticated collection and publication of energy data that greater access to digital data could facilitate. These benefits could be all be realised at a limited energy cost, as active controls are projected to consume only 275 TWh in 2040; far less than the 4 650 TWh they could potentially save that same year. And, he points out, "while the electricity sector and smart grids are at the center of this transformation, ultimately all sectors across both energy supply and demand will be affected." Digitalization can improve safety, increase productivity and reduce costs in the oil and gas, coal, and electricity sectors. In the 1970s, power utilities were digital pioneers, using emerging technologies to facilitate grid management and operation. Useful collaborations and best policy sharing can take place in a variety of fora, including the Connected Devices Alliance and a wide range of IEA Technology Collaboration Programmes. It also lays out no-regret recommendations to help steer the world towards a more secure, sustainable and smarter energy future. Investment in digital technologies by energy companies has risen sharply over the last few years. Overall, digitalisation is likely to lead to further efficiencies along the supply chain, but is less likely to replace still-sizeable labour needs for major engineering and construction activity related to physical infrastructure. This would provide further flexibility to the grid while saving between USD 100 billion and USD 280 billion (depending on the number of EVs deployed) in avoided investment in new electricity infrastructure between 2016 and 2040. As the world becomes increasingly digitalised, information and communications technologies (ICT) are emerging as an important source of energy demand in their own right. This exponential growth has led to the use of increasingly large units of measurement. All the attendees highlighted the new era that will follow the crisis, once the industry stabilizes again, commenting that the consequences of the pandemic are yet to be apparent. Digitalization and the future of energy is an industry report which reveals the current attitudes to, and challenges and opportunities for digitalization in the energy industry. fulfilling new functionalities. The oil and gas sector has a relatively long history with digital technologies, notably in upstream, and significant potential remains for digitalisation to enhance operations. For example, digitalisation can assist in providing electricity to the 1.1 billion people who still lack access to it. Data networks, which form the backbone of the digital world, consumed around 185 TWh globally in 2015, or another 1% of total demand, with mobile networks accounting for around two-thirds of the total. With the expected continuing expansion of industrial production over the coming decades, particularly in emerging economies, the value of digitalisation in improving the efficiency of energy and material use will only increase. But getting everything right will not be easy. On average, investment in power plants would be reduced by USD 34 billion per year and that in networks by USD 20 billion per year. For instance, data on energy use in households collected by smart meters can be used to tell when someone is home, using the shower, or making tea. Energy policy makers need to make sure they are well informed about the latest developments in the digital world, its nomenclature, trends, and ability to impact a variety of energy systems (both in the near and longer term). This inertia is more pronounced in markets that were deregulated and disaggregated in a different technology era than in regulated vertical markets where the costs and benefits are concentrated. Technologies such as industrial robots and 3D printing are becoming standard practice in certain industrial applications. Digitalization holds the potential to build new architectures of interconnected energy systems, including breaking down traditional boundaries between demand and supply. NEW POLICY FOR AN ERA OF ENERGY DIGITALIZATION: POWER 3 Throughout history, the energy system has gone through revolutions driven by technology and innovation. Digitalisation is helping improve the safety, productivity, accessibility and sustainability of energy systems around the world. While it is expected that digitalisation in industry will continue in an incremental manner in the near term both inside individual plants as well as beyond the plant fence, some digital technologies may have far-reaching effects on energy use in certain areas, especially when they are applied in combination. IEA (2017), Digitalisation and Energy, IEA, Paris https://www.iea.org/reports/digitalisation-and-energy. Predict, measure and monitor in real time the energy performance of buildings, allowing consumers, building managers, network operators and other stakeholders to identify where and when maintenance is needed, when investments are not performing as expected or where energy savings can be achieved. In certain countries in sub-Saharan Africa, mobile phones are more prevalent in homes than electricity, and mobile phones and the associated infrastructure, such as cell towers, may be able to help facilitate access to a large array of energy services. Caption: Themed on "Leading energy digitalization, building a green intelligent world", Huawei conducts a digital energy roadshow in Japan. This will be done by means of a literature study and interviews with experts in the field. What is now new is the extent of digitalization on the power system and energy market. 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