While the world is battling with adverse climate-change conditions and other environmental crises, renewable energy resources are looked at as the lifeline for the planet today. Renewable energy industries are therefore gearing up to invent better ways to build robust solutions, and all with the help of inventive technology genius.
According to IEA, the renewable power capacity world is set to expand by 50% between 2019 and the year 2024, led by solar PV. The Solar PV alone accounts for almost 60% of the expected growth with the onshore wind representing one-quarter.
In India alone, the capacity for renewable energy has rapidly increased in recent years. At the end of the fiscal year 2019, the renewable sector accounted for over 22% of the energy capacity mix. India was the second-largest photovoltaic power plant in the year 2019 with a total installed power capacity of almost 360 gigawatts in 2019 and the renewable sector amounting to 80 gigawatts of that capacity.
While the renewable energy sector is the hope for a better future, technology is enhancing and cementing it further to create a more sustainable business model. Technologies such as Big Data and Analytics are here to change the way renewable energy sectors can operate more efficiently and be able to optimize them for maximum benefit. Driven by the power of data, solar plants can function better and can be fully optimized if the data captured is being used smartly.
In this blog, we discuss the importance of Big Data and Analytics in optimizing the power of solar plants.
Role of Big Data and Analytics in Solar Plants
Intermittent data and unpredictable readings coming through the sunlight can make the overall solution undependable. Big Data and Analytics are providing an edge to the solar businesses by eliminating the unpredictability factor. Hence, as for any other renewable energy plant, to work consistently well, solar plants also need technology that can predict the variations in climate or the weather conditions in order to optimize its capacity. In short, Big Data and Analytics can add the necessary method to the chaos of data usage and management, to help optimize it.
Making Data Predictable and Structured
Big Data has a huge benefit when it comes to providing support to the solar industry and solar assets owners. Using Big Data and Analytics, solar asset owners can categorize data by analyzing data patterns and generate useful insights. With these valuable insights, the utilities can then manage the variations in solar winds and radiations while accurately predicting the amount of energy that can be redirected into the power grid. The data is then converted and utilized for the optimized performance of the solar assets. This technology helps create sense out of the massive data being made available for better outcomes.
Enhanced Operational Efficiency
Typically, a solar plant requires enormous amounts of solar panel installations and sensors along with a complex ground-level infrastructure. Usually, such vast installation of plants requires a vast terrain that brings along with it a lot of operational and maintenance challenges. Big data and analytics can help the plant operators get timely updates about the overall performance of the plant.
The vast solar plant installations have very complex infrastructure comprising of panels, sensitive equipment, sensors, and wires, etc. The ground level maintenance of these assets is extremely challenging and time-consuming. Using Big Data and Analytics, companies can predict the maintenance needs through historical data analysis and streamline their maintenance operations. Through preventive and predictive maintenance, companies can reduce downtime.
Using Big Data and Analytics, solar companies can better understand their customer needs and demands. They are using this data to implement strategies to innovate different revenue models and more business opportunities. It provides companies with incredible data insights and analytics to help them take the right decisions at the right time. This adds to the ROI and directly impacts the business in a positive way.
The renewable energy sector is also attracting more and more investors today. With the growing demands and the government’s ambitious green energy targets in India, it is attracting both foreign and domestic investors. The country is expected to attract investments for up to USD 80 billion in the next four years.
Big Data and Analytics are here to change the future of solar plants as these technologies are indeed revolutionizing the renewable energy sector. From bringing down the installation charges to making operations easy, Big Data and Analytics can be counted upon as a bankable solution that is creating the sustainable business model that the world needs today. If you are looking for an energy analytics solution, contact us today.
After successful 5 years stint in a corporate role, Nitin is back to what he enjoys most – conceptualizing new software solutions to solve business problems. Nitin is postgraduate from IIT, Mumbai, India and in his 19 years of career, has played key roles in building a desktop as well as enterprise solutions right from idealization to launch which are adopted by many Fortune 500 companies. As a Founder member of Pratiti Technologies, he is committed to applying his management learning as well as the passion for building new solutions to realize your innovation with certainty.