Is Big Data a Trouble-Maker in the Energy Industry?

Is Big Data a Trouble-Maker in the Energy Industry?

By Energy CIO Insights | Monday, September 21, 2020

The energy sector constantly collects large amounts of data with the help of applications of sensors, wireless transmission, network communication, and cloud computing technologies. It is overwhelming to find the amount of data that it collects on both the supply and demand side of the coin.

FREMONT, CA: With the inception of the smart Grid, the amount of data collected has seen an increase consistently. Data is considered valuable only if it is useful, and the challenge now is how businesses can efficiently utilize the big data.

Utilities are leveraging big data to enhance operational efficiencies, drive down costs, and reduce carbon emissions in the industry with big data sources like smart meters. On the other hand, big data analytics has also played a significant role in energy management on the demand side:

Energy Utility Industry and Big Data Analytics:

With the help of big data analytics, energy utilities can boost power generation and planning, the two most vital decision-making processes in power generation. Identical energy supply and demand on the grid has been a rigid balancing act where data analytics has a big part to play. The energy production competence can be enhanced, and production costs can be diminished by using collected energy big data and advanced big data analytics methods.

By using weather data analytics, renewable energy power generation forecasting can be more precise and resourceful. The GIS data, which is an added benefit of big data analytics, include geographical information from satellite imagery. It comes with spatial planning and analysis related to topography, location to water, and solar irradiation.

Big Data Analytics on the Demand Side of Energy Management:

Most of the advances made in sustainable energy have been on the demand side. Data generating from smart meters, costs, production figures, asset operations, and weather statistics can be used and analyzed over the long run. Energy consumption and savings can be predicted by leveraging an energy management software package from the market. The systems have automated data feeds to smart Meters and other data collection systems. Data analytics assists in recognizing projects in real-time that can save the most energy and money, along with a proactive tool to distinguish energy issues as they occur.

Cheaper Energy and Big Data:

By similar energy supply and demand utilities can supply cheaper power with abilities to store unused power and sell it back to the grid. The recycling technology gathers energy storage devices and operates them in a centralized, digital location. Big data analytics is cutting down the cost of consumption and power generation.

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