Holistic Asset Management For Utility Network Companies
IBM News, Friday, March 29th, 2024
The energy transition is gearing up to full speed as renewable energy sources replace fossil-based systems of energy production. The grid itself must green to operate within the environmental, social and governance (ESG) objectives and become carbon neutral by 2050.
This shift requires energy utility companies to plan their grid asset management holistically as they find a new balance between strategic objectives.
Sustainable asset performance has become one of the key drivers in decision-making for asset planning and grid modernization business processes. New emerging technology enables AI-powered digital twins to operate the smart grid. However, operators must balance intermittent renewable energy intake to produce a controlled, stable output.