The Great Digitization Of The Power Sector Is Underway

How do we manage the explosion of data across the grid?Digitization is transforming the way energy is produced, directed and spent. Power plants are using real-time data to drive efficiency, smart grids are directing energy where needed and data models are now essential to help us make sense of the market. Across devices and sensors, we’re seeing an explosion of data which needs to be analysed to drive efficiencies. Machine learning and digital twins are tools which can be used for modelling, which in turn helps us make better decisions around where and how we direct energy. Optimizing the grid as best we can is key to moving forward in the energy transition.On the Interchange today, we are joined by Ben Hertz-Shargel, Head of Wood Mackenzie’s Grid Edge. Ben explores the role of virtual power plants in managing energy demand in real time. Short-term forecasting and analytics typically benefit traditional power plants, so how can VPP’s use the same information? Grid sensors are another important part of the digital grid, and Ben examines the data they work with.How is that data analysed and processed? Matthew Boyda is Senior Vice-President of Global Power & Renewables Research at Wood Mackenzie, and he joins the show to explain the forecasting capabilities in the industry and the importance of a transition from data centres to the cloud. Digital twins are a term you’ll likely have heard before, but how do they actually work? Why are they so central to the digitization of the grid?  It all comes down to driving efficiencies, and on the show today, we look at the technology that’s evolving at a rapid rate and enabling clean energy to flow to the right places.Don’t forget to subscribe to the show and follow us on Twitter, we’re @interchangeshowWood Mackenzie’s Solar & Energy Storage Summit is back, taking place at the Palace Hotel in San Francisco on June 21 and 22. Join expert solar and storage analysts for discussions with leading grid-scale utilities, solar and energy storage developers and federal policy makers.   How is the IRA catapulting the development of solar and storage in North America? How can we continue to build a productive environment for solar and energy storage as we move forward with the energy transition? What is required to nurture the development of a thriving localized storage component supply chain?  Expect two days of panel discussions, presentations and workshops, as we explore the opportunities for solar and storage in the coming decades.  If you are interested in sponsoring or attending find out more on woodmac.com/events/solar-energy-storage-summit See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.