The global market view on smart energy infrastructure and how India is leading towards it
Megatrends such as an increase in urbanization and climate change are driving the requirement of electrification and decarbonization. Further innovation in software and digitization is making grids smarter and more efficient in developing new business models.
On the basis of the type smart energy market is further segmented into distrusted smart energy and independent, smart energy. For product type, it is categorized into the smart grid, smart solar, home energy management systems(HEMS) & others.
It is projected that the global smart grid market will reach 94.5 billion by 2025. Smart grid technology comprises various energy measures and operations, including renewable energy resources, smart meters, energy-efficient resources, and smart appliances. Smart Grid, in addition, also leverages the hardware solutions like surveillance cameras, sensors, and others keeping track of energy consumption and monitoring the systems. These sensors can help smart grid turn the electricity on and off when the system is not in use, which reduces energy consumption. In India, the country accounts for 6% of the world’s primary energy consumption. The rapid growth in urbanization and the increasing urban population impact energy consumption and accordingly, the carbon emission. This integration of smart energy management (SEM) is becoming essential for sustainable and decarbonized urban development. As cities are transforming and evolving to smart cities, SEM is becoming an integrated part of urban transformation to support cities in one of the most challenging goal that is to manage the energy footprints.
Understanding the current trends and challenges
While progressing towards smart energy infrastructure the trends which will influence the sector will be
- Artificial Intelligence
AI helps energy companies and consumers in assembling and shift through data that can support identifying and tracking trends in energy generation and consumption. Smart energy management is getting benefitted from integrating AI solutions.
AI solutions offer a predictive mechanism that can enable energy suppliers to dispatch their resources better, organize demand in advance, predict problems, and save resources. - Blockchain Technology
One of the exciting development in the energy industry is blockchain technology. This peer-to-peer network is assisting customers in trading energy as per their comfort effectively. The technology is aided by the IoT solutions that can help improve the performance of energy-saving devices and building management systems.
In India, the blockchain technology is at the nascent stage. Where a discom has started the trial of blockchain in Delhi and Uttar Pradesh government has drafted the pilot project collaborating with state power utility Uttar Pradesh Power Corporation Limited (UPPCL) and Uttar Pradesh New and Renewable Development Agency (UPNEDA). Blockchain can help discom to access a cost-effective energy alternative during peak demand pricing, leading to increased efficiency and reliability of the power supply. - Grid Parity
Grid Parity is achieved when an alternative energy source generates power a par with the cost of electricity, which is less or equal to the price of power generated from the electricity grid. With renewable energy sources gaining traction, many utility companies globally are focusing on gaining grid parity at the earliest. In India, a recently inaugurated solar project will be the first to break the grid parity.
But before leading towards the future of smart energy, there are few challenges that the industry has to address to make the execution smooth. A significant challenge for discoms is to keep pace with frequently evolving technology. With innovations in technology emerging at a rapid pace, the older technologies soon become obsolete. Thus it is necessary to adopt technologies and solutions that are scalable and can adjust to changing circumstances. Another key challenge is handling the massive data transmitted. Data can be both challenge and opportunity as it provides essential insight to utilities, but managing it can be a task. Thus it is necessary to explore advanced technologies with reliable data management tools for efficiently managing and analyzing the data.
How Delta Electronics India can support in building a robust smart energy infrastructure
Smart Energy is all about using energy-efficient devices and focusing on sustainable renewable energy solutions that encourage greater eco-friendliness while helping in reducing the cost. India is witnessing a great energy transition with solar energy 30% lower than existing thermal power costs. Further, with the implementation of energy-efficient schemes in the country over the years, India has been able to save around Rs 54,770 crore with a reduction in CO2 emissions of around 125.18 million. Thus, the road to smart energy execution for various businesses and industries is becoming smoother. Delta Electronics India, with its full potential, supports the rising demands and changing requirements through its diversified cutting-edge technology with a portfolio of energy-efficient solutions. We are constantly developing technology and solutions to provide innovative, clean, and energy-efficient solutions for a better tomorrow.
Smart Energy solutions can help businesses and industries navigate through the evolving energy landscape that will increase efficiency, open new potential for revenue, and lead towards a greener tomorrow. Thus a prime towards the successful implementation of smart energy is the use of renewable resources to power the energy needs. As a renewable solutions provider, Delta integrates energy generation, conversion, management, and storage to optimize customers’ energy use by switching grid power, renewable energy, and battery power. We offer the comprehensive product range of high efficient indoor and outdoor solar inverters, accessories, and services to our partners and installers and the best photovoltaic systems to maximize profit. We identify the emerging trends and adapt them to suit the changing demand of the market. Our products and solutions are compatible for both crystalline and thin-film panels. Delta’s state-of-the-art high-frequency topology and MPPT equipped portfolio includes the Grid-tied range of RPI series from 3KW to 125KW and DelCEN Series 1 MW to 3 MW which. Our major installations include key metro and railway stations, airports, government, and educational institutions, industrial establishments, residential properties, large solar plants, and others.
But with the growing role of renewable energy infrastructure, a key concern for discoms is grid stability. Energy Storage System, combined with demand response and vehicle grid integration, can give the grid much-needed flexibility. With state-of-the-art power conversion and energy storage technologies, Delta’s Energy Storage System (ESS) offers high-efficiency power conditioning capabilities for demand management, power dispatch, renewable energy smoothing, and more.
Another key aspect of smart energy is the deployment of IoT solutions. At Delta Industrial Automation Solutions, we offer IoT compliant products that can support businesses and industries in reducing energy consumption with our variable frequency drive, Power Quality Systems, AFE (Active Front End), and Power Meter. We integrate our automation products, equipment networking, system software, IoT technology, and big data analysis to build innovative and reliable green automation solutions.
Being an enabler we believe in an end-to-end solution that can benefit organizations in a more prolonged period. Along with a structured workforce, we also focus on hosting technical workshops and seminars to keep them updated with the latest technology and solutions contributing to their personal and professional growth. The same is being hosted for channel partners and stakeholders to keep them aware of the latest offerings and industry know-how.
Being a market leader, our focus is not just to increase sales but also to build a relationship of trust with our prestigious customer by delivering the commitment of ultimate customer satisfaction.
Thus the aim is to strengthen the market demand and support the businesses and industries as together; we lead towards Smart Energy powering Smart Future.
Industry Statistics (Source: Media Reports)
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