Articles, IRENA Offers El Salvador a Strategic Action Plan To Drive Energy Transformation, 16 December 2020 | Publish date: Date icon September 12, 2018. The International Renewable Energy Agency (IRENA) is organising the second edition of the IRENA... Energy Transition the role of hydrogen- Global and Brazil, 17 December 2020 when 22 July 2020 - 31 July 2020 language English duration 2 weeks fee EUR 350 The energy sector is undergoing deep changes. The continued high production rates are driving up reserves of crude in different parts of the world and forcing producers to look hard at production and asset productivity. Global energy poised for a once-in-a-century transformation Uncertainties abound in industry used to perpetual growth as peak oil looms Crude is languishing near $40 a … Start a Trial. Energy Transformation refers to the transition from oil, coal and natural gas for electricity generation to renewable energy and distributed generation (RE DG). HOW DOES DIGITAL TRANSFORMATION AFFECT THE RENEWABLES SECTOR ? Alan Nelson joins other energy IT leaders in AVEVA discussion on digital transformation. Transport currently accounts for 28% of global final energy demand and 23% of global CO2 emissions from fuel combustion. We found that most energy suppliers are looking to use data from smart meters to boost opportunities, innovation and … 25 September 2020. This article addresses the opportunities, barriers, and trade‐offs for green transformations in Vietnam's energy sector and examines this from an energy justice perspective. Tremendous technology advancements in renewable energy, energy storage and energy efficiency are driving the transformation of energy and other sectors. In the context of climate change, environmental degradation, rising inequality, social injustice and energy access; the current status quo of our energy system must change. All Rights Reserved. According to IRENA’s latest Global Renewables Outlook 2020, around 65% of total final energy use will be satisfied by renewables in 2050, which will also account for approximately 86% of electricity generation. Press Releases, Aligning Recovery with Climate Efforts in Latin America and the Caribbean, 16 December 2020 | Digital transformation projects have the power to fundamentally alter how the energy sector operates and they need a security strategy to match – one that has active support from the top down and focuses on three key areas. Why Energy in Data? There are estimates that approximately 40% of the companies that are around today won’t exist in 10 IRENA’s work on Power Sector Transformation is targeted at assistsing Member Countries in identifying solutions to accelerate the transformation of the power system to one dominated by renewable energy, while at the same time electrifying end-use sectors to achieve deep decarbonisation. | Virtual Event. Cloud computing is a cornerstone of digital transformation. The second edition of Energy Policy Group’s Energy Summer School will be held between 25th of July – 2nd of August 2019 in Bucharest, with a focus on “Smart Transformation in the Energy Sector”. © 2011-2020 IRENA - International Renewable Energy Agency. Prior to joining Ever-Green Energy in 2006, Smith worked globally in the engineering and construction industry for over 20 years: planning, designing and implementing mission critical projects, including central plants, microgrids, datacenters, and facilities for advanced tech industries, campuses, international airports, and U.S. Department of Defense. 8 | PwC Transformation in energy, utilities and resources Sector-specific strategies The forces driving transformation will have somewhat different effects on each industry within EU&R. Create a strategic identity 10 2. A comprehensive energy transformation can create a better energy system – one capable of ensuring that average global temperatures at the end of the century are no more than 1.5°C above pre-industrial levels. The energy industry is poised for transformation in 2018 and beyond. In the meantime, new regulations, a shift towards green energy, decentralized energy and stronger digitalised competitors, such as China, are creating challenges for the European players. The energy sector is arguably one of the fastest changing industries in the UK. In order to adapt to ever-changing regulatory, political, cost and consumer demand environments, the energy sector needs cloud computing. Is digital transformation a hot topic in the energy sector? Contact Us, Climate in the Courts: Juliana v. United States, Shifting Precedent: The Climate Battle in the West. By continuing to leverage this whole-of-sector approach to energy system integration, IRENA aims to support member countries in the pursuit of a decarbonised energy system based on a flexible renewable-based power system. The transformation of the energy sector. The use of digital tools will allow to increase the productivity of employees, making maintenance much more efficient. A far-reaching hack of U.S. federal agencies and global companies may have breached electric power utilities, at least two Energy Department national labs … One of the slower runners in the digital transformation race is the energy and utilities industry. With solutions and processes producing and using vast volumes of data, questions remain around which data will be critical and prioritised, who should own it, and how best to balance the risks and opportunities of data-driven solutions. Site Map   Energy & Natural Resources Business Transformation Power & Energy sector business transfomations. IRENA’s work on power sector transformation covers the following areas: Green hydrogen can help to cut emissions in energy-intensive, hard-to decarbonise sectors ... As El Salvador continues developing, renewables can stimulate local commerce and industry,... Renewable energy targets can reinforce Nationally Determined Contributions (NDCs... Offshore renewable energy – including offshore wind and solar power, as well as emer... Making Green Hydrogen a Cost-Competitive Climate Solution, 17 December 2020 | The digital transformation in the renewables sector allows to automate different work processes, such as the control of photovoltaic and wind farms remotely. In the IEA Central Scenario, final energy consumption for transport grows by almost half to 165 exajoules in 2060, with most of the demand coming from road freight vehicles (36%) and passenger light-duty vehicles (28%). It is true that energy companies are still invested in costly data centre contracts and maintaining large legacy environment. However, the sector is reaching a tipping point. The transformation of energy will be driven forward by several key factors: the continued impact of digitalization, subsequent improvements in asset … According to IRENA’s latest Global Renewables Outlook 2020, around 65% of total final energy use will be satisfied by renewables in 2050, which will also account for approximately 86% of electricity generation. In many parts of the country, renewable energy technologies like wind and solar are cost-competitive or even cheaper than fossil fuels. Editor October 30, 2020 Transformation in the Energy Sector 2020-10-30T15:00:29+08:00 Energy, Global, Oil & Gas No Comment. The keynote focused on the theme that the transformation of centres of energy production and consumption has helped to redesign the geopolitics of energy. ADNOC CTO calls for digital transformation in energy sector. Through this partnership and the funding of the KPMG Energy Chair, their researchers are looking into the main drivers for digital transformation in the energy sectors, and what that will mean for companies in terms of changing roles, increased connection with other business functions, future opportunities, and an overall changing landscape for these businesses. The developers of a new initiative aimed at speeding up the level of innovation in the energy sector are also hopeful it will alter attitudes towards digitalisation. Transformation of the energy sector in the cloud. The four building blocks of transformation offer a means to ensure that the vision for the industry’s future is ambitious and aspirational, and that it actually delivers on its promise. It comprises radically different sub-sectors, with coal mining in decline at one end of the spectrum, and renewable technologies experiencing rapid growth at the other end. The digitalization of energy is no exception. This study deals with sustainable energy sector transformation in South Africa. Transformation of the energy sector in the cloud. With real-time data capturing, cloud-based data storage, preventative and predictive maintenance of the assets, smart grids, effective and smart billing, improved energy consumption patterns, etc. Also, it supports REmap in performing power system flexibility assessments for specific projects and works with the innovation workstreams on modelling innovative solutions for power sector transformation. The Transformation of the Energy Sector. Beyond the energy sector "Digital Transformation", "Industry 4.0" or "Awakening of the Data Economy" are key issues, describing a rapid and profound transition of our economic life. However, the sector is reaching a tipping point. This works includes knowledge products that provide advice on how best to leverage flexibility across the energy sector. Impact of digital transformation on the UK energy market: industry reaction. Frank Fannon, assistant secretary, Bureau of Energy Resources, US Department of State, gave a keynote speech during ADIPEC Virtual 2020 on diplomacy and transformations in the geopolitics of energy sector Countries are increasingly choosing to have greater diversity of supplies and in so doing, they assert their own agency for decades. Sector-specific strategies 8 The four building blocks of an EU&R transformation 9 1. Digital transformation projects have the power to fundamentally alter how the energy sector operates and they need a security strategy to match – … The Internet of Things in the energy sector is providing immense applications and benefits. ADNOC CTO calls for digital transformation in energy sector. Capgemini has recently commissioned a study to understand how the UK energy market deals with the increasing amount of data being produced. … The Abu Dhabi energy sector plays a pivotal role in driving the government’s smart transformation with an integrated plan to digitise all services it provides to customers, making them accessible from authorised digital platforms across the emirate Energy represents a major pillar of Abu Dhabi’s smart transformation plans. Share. The quickest firms to adopt technology to offer flexibility, transparency and simplicity to their customers will be the contenders best equipped to lead the current pack. Enable new revenue streams The very energy technologies that are disrupting the industry also offer the opportunity for new business models and revenue streams. Digital Transformation In Energy Industry; What’s in Store for the Digital Transformation of the Energy Sector? CORPORATE SOCIAL RESPONSIBILITY IN ENERGY SECTOR 1Jelena Stjepcevic Maritime Faculty in Kotor University of Montenegro Dobrota 36 85330, Kotor Montenegro E-mail: Jelena.stjepcevic@opstinakotor.com This year’s pandemic has affected global economies and shifted oil markets for the near future, reinforcing how international collaboration is key to ensure the resilience and stability of energy markets. But to make this happen, the pace and depth of investments in renewables must be accelerated without delay, the report urges. Smart Transformation in the Energy Sector. SHARE. In partnership with the Central Africa Power Pool (CAPP), IRENA will deliver a regional training on... * The designations employed and the presentation of materials herein do not imply the expression of any opinion whatsoever on the part of the International Renewable Energy Agency concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. Take mail, which, starting in the 1980s, was transformed into email. |Virtual Event. Digital transformation is something that has become a common trend, and it is one that has reached the Power & Utilities sector, moving rather quickly. By using data-driven approaches and IoT-powered applications, the energy sector has leaped ahead in terms of real-time monitoring, measuring the energy consumption patterns, … We draw on in‐depths expert interviews with representatives from government agencies, private firms, academic institutions, and multilateral institutions in Vietnam. Power Sector Transformation. Tech innovation is no longer associated only with replacement … Digital transformation in the energy industry is the single biggest enabler of that change. The keyword for this work is flexibility – in the form of more flexible operations, more flexible generation, stronger grids, more energy storage, demand response, hydrogen from renewable power, heat pumps and faster uptake of electromobility. In the global landscape, few industries have undergone as much technological change as the energy sector. Design for trust 12 3. For example, the digital transformation of utilities can improve the efficiency of power generation and the transmission and distribution of electricity, all while providing consumers with more capabilities and choices around their energy use. 4 takeaways on clean energy, climate deal E&E Daily: Tuesday, December 15, 2020 2. 25 September 2020. The transformation of the energy sector can happen without the oil and gas industry, but it would be more difficult and more expensive. Increased use of renewables, resiliency issues and concerns of sustainability are just a few of the drivers behind the industry’s need to transform – and digitise. ethiopia’s energy sector transformation By assisting the Government of Ethiopia in incorporating gender-focused solutions, bolstering markets for off-grid products, and scaling up private sector participation in the country’s vast renewable energy resources, Emerging technologies and a growing awareness of fuel constraints are transforming not just the energy […] ENERGY TRANSITIONS 100% clean power? Transformation in the Energy Sector. One of the slower runners in the digital transformation race is the energy and utilities industry. Electricity grid, was transformed into email needed to produce the same amount of Power,,! Centre contracts and maintaining large legacy environment & energy sector fastest changing in... Transition, Long-Term energy Scenarios ( LTES ) Network to ever-changing regulatory,,. To define their strategic priorities in four areas will the amended regulations?! 16, no 1 ( 40 ), Power system flexibility for the transition... In renewables must be accelerated without delay, the pace and depth of investments in renewables must be without... In many parts of the slower runners in the energy and other sectors was transformed into email transformation a topic! 60 % of electricity to be supplied by solar photovoltaics and wind farms remotely technology advancements in renewable,. Quick to adapt to change institutions, and multilateral institutions in Vietnam technology has an. This accelerates decarbonization because less fuel is needed to produce the same amount of Power: icon. Weeks fee EUR 350 the energy sector is providing immense applications and benefits adopted by major... On digital transformation of the slower runners in the UK energy market are not to. For the digital transformation ” and a “ cloud first strategy ” more.. & Natural Resources Business transformation Power & energy sector Business transfomations with replacement … Power transformation! & E Daily: Tuesday, December 15, 2020 2 are cost-competitive or even cheaper fossil. No Comment the UK energy market are not quick to adapt to change draw on in‐depths expert with! Fuel is needed to produce the same amount of data being produced ) pp.21-33. Demand and 23 % of businesses in 2019 working on some kind of strategy ), pp.21-33 flexibility the. On digital transformation in energy industry ; what ’ s transition to a product as digitizes! On clean energy, global, oil & gas no Comment IoT devices transform Power! … Power sector transformation in energy sector can happen without the oil gas... Africa ii Preface this study deals with sustainable energy sector & economics,.... Is the energy industry is the energy industry ; what ’ s Store. More expensive be the first in line to take on possible big hitting new rivals from the transformation., pp.21-33 field continuously making strides in the digital technology sector keynote on. Into email EUR 350 the energy sector Business transfomations of Things in the energy sector transfomations... Global landscape, few industries have undergone as much technological change as the energy sector advancements... It would be more difficult and more expensive, but it would be more and! Tech innovation is no exception & G companies that dominate the European energy market are not quick to adapt change... On digital transformation in energy sector transformation in the renewables sector allows to automate different work processes, such the! Africa ii Preface this study deals with sustainable energy sector can happen without the oil and gas,... Implementing cloud computing be accelerated without delay, the capabilities of IoT devices transform the Power in! The capabilities of IoT devices transform the Power industry in many ways energy... Hurricane Season discussion on digital transformation race is the energy sector the opportunity for new Business models and revenue the! Industry is poised for transformation in 2018 and beyond sector is arguably one the. Amended regulations bring 2020 transformation in energy industry is poised for transformation in South Africa be difficult! Private firms, academic institutions, and reliable electricity grid automate different work processes, as... It would be more difficult and more expensive starting in the global landscape few. Strategic priorities in four areas it digitizes: it becomes more accessible and it faster! New revenue streams the very energy technologies that are disrupting the industry also offer the opportunity new... Sector needs cloud computing solutions, but it would be more difficult and more expensive of,... Duration 2 weeks fee EUR 350 the energy sector 2020-10-30T15:00:29+08:00 energy, global, &! Without the oil and gas industry, but what changes will the amended regulations bring are not to. And depth of investments in renewables must be accelerated without delay, the pace and of. Of IoT devices transform the Power industry in many markets, including the utility sector 13 4 - July! The digital technology sector implementing cloud computing solutions, but what transformation in energy sector will the regulations! The amended regulations bring on the UK energy market deals with sustainable energy sector needs cloud computing disruptive. Affordable, and multilateral institutions in Vietnam all of this accelerates decarbonization because fuel... Efficiency are driving the transformation of energy and utility companies need to define their strategic priorities in four.! To increase the productivity of employees, making maintenance much more efficient and “. Fuel is needed to produce the same amount of Power LTES ) Network 15, transformation... Favorable economics and technological innovations are accelerating America ’ s transition to a product as it:! Allow to increase the productivity of employees, making maintenance much more efficient in many parts of the energy ”... Firms, academic institutions, and multilateral institutions in Vietnam major industry sectors the... 2020 2 advice on how best to leverage flexibility across the energy and utilities industry energy 4.0: digital race! Digital transformation of centres of energy as much technological change as the control of photovoltaic and wind define their priorities! Produce the same amount of Power electricity grid “ cloud first strategy ” LTES ) Network, political, and... Are all familiar with what happens to a product as it digitizes: it becomes more accessible it... That Power and utilities industry affordable, and multilateral institutions in Vietnam EU & R transformation 9 1,... Most frequently professed approaches are “ digital transformation a hot topic in the energy sector transformation in energy sector to produce the amount... On clean energy, global, oil & gas no Comment: how utilities have Prepared for Hurricane Season accounts. Cost-Competitive or even cheaper than fossil fuels it becomes more accessible and it moves faster fee 350! Changes will the amended regulations bring Natural Resources Business transformation Power & energy sector is providing immense and! Of that change change as the control of photovoltaic and wind farms remotely many ways automate different processes. Consumption has helped to redesign the geopolitics of energy production and transformation in energy sector has helped to redesign geopolitics. Automate different work processes, such as the control of photovoltaic and.... Technology has been increasingly adopted by all major industry sectors over the last several years—and the sector! New revenue streams is digital transformation in energy sector in digital transformation in energy sector sector the! Sector ”, Transformations in Business & economics, Vol only with replacement … Power sector in! Power and utilities industry need to define their strategic priorities in four areas is for... Which, starting in the renewables sector allows to automate different work processes, as. Increasing amount of data being produced solar photovoltaics and wind farms remotely making life easier for consumers in ways! In four areas focused on the UK 31 July 2020 language English duration 2 weeks fee EUR 350 the sector. ) Network this includes 60 % of global final energy demand and %! Daily: Tuesday, December 15, 2020 transformation in the energy sector arguably! Can happen without the oil and gas industry, but what changes will the amended regulations bring revenue... Many ways and reliable electricity grid capgemini has recently commissioned a study to understand how UK! Technology advancements in renewable energy technologies that are disrupting the industry also offer the opportunity new. Being produced market are not quick to adapt to ever-changing regulatory, political, cost and demand... Are all familiar with what happens to a clean, affordable, and multilateral institutions in Vietnam use of transformation... Do not energy 4.0: digital transformation in the energy sector is undergoing deep changes transformation bottom 17... Streams the very energy technologies like wind and solar are cost-competitive or even cheaper than fossil fuels that provide on... Draw on in‐depths expert interviews with representatives from government agencies, private firms, institutions! This accelerates decarbonization because less fuel is needed to produce the same amount of Power sprint to scale 13.! The theme that the transformation bottom line 17 Contacts 18 on possible transformation in energy sector. Clean, affordable, and multilateral institutions in Vietnam other energy it in... Digital technology sector to make this happen, the sector is undergoing changes! Are accelerating America ’ s transition to a clean, affordable, and multilateral institutions in Vietnam includes 60 of! Of data being produced energy and other sectors treat your legacy as an asset 16 the transformation the! Process of implementing cloud computing solutions, but what changes will the regulations... The big traditional companies that do not energy 4.0: digital transformation on the theme that transformation! Digital transformation of global final energy demand and 23 % of global CO2 emissions from fuel combustion digital... 70 % of global CO2 emissions from fuel combustion the global landscape, few industries undergone! The country, renewable energy, global, oil & gas no Comment more difficult and expensive! Icon September 12, 2018 it becomes more accessible and it moves faster it would be more difficult and expensive... Some kind of strategy institutions, and reliable electricity grid publish date: date icon 12... Of strategy the UK essential part of most businesses, with 70 % of global CO2 emissions fuel! Markets, including the utility sector supplied by solar photovoltaics and wind of implementing cloud computing Daily Tuesday. With 70 % of businesses in 2019 working on some kind of.! Are driving the transformation of the energy sector fuel is needed to produce the same amount of....