Renewable Energy Meets Grid Resiliency: How Digital Twin Technology Enhances Power Generation and Transmission

DUBLIN, July 25, 2023 /PRNewswire/ -- The "Advancements in Digital Twin Technology Transforming the Energy Sector" report has been added to ResearchAndMarkets.com's offering.

Renewable Energy and Digital Twin Technology: Enhancing Power Generation and Grid Resiliency

To achieve global emission reduction targets, renewable energy must account for a substantial portion of energy consumption. By 2030, renewable energy should reach at least 42% of total consumption, increasing to 60% by 2050, compared to the 17% achieved in 2021. While the global power generation sector is transitioning towards renewable sources to curb greenhouse gas emissions, the intermittent nature of renewable energy poses challenges for conventional power plants and grid stability.

The increasing share of renewables has led to a decrease in the dependence and capacity utilization of conventional steam turbine and coal-fired power plants. This shift highlights the need for innovative solutions to address the intermittency of renewables and enhance grid stability. Digital twin technology emerges as a promising solution by improving the flexibility of conventional power generation, predicting renewable power generation, and enhancing grid resiliency.

The concept of digital twin systems forms the foundation of this study. It delves into the working principles and fundamentals of digital twin technology, offering comprehensive insights into its applications across power generation, transmission, and distribution systems. The study identifies key growth opportunities, drivers, and challenges, as well as major innovations and research and development activities in the field of digital twin technology for the energy sector.

Numerous case studies are included to illustrate the advantages offered by digital twins in the energy sector. These case studies howcase real-world applications and demonstrate how digital twin technology can optimize power generation and enhance grid operations. Additionally, the study examines key stakeholders involved in developing innovative digital twin solutions for energy applications. It also provides an analysis of the global patent landscape, highlighting prominent patent owners/applicants and key research areas in digital twin technology for the energy sector.

Key Topics Covered

1. Strategic Imperatives

• Why Is It Increasingly Difficult to Grow? The Strategic Imperative 8: Factors Creating Pressure on Growth
• The Strategic Imperative 8
• The Impact of the Top 3 Strategic Imperatives on the Digital Twin Technology Advancements in the Energy Sector
• Growth Opportunities Fuel the Growth Pipeline Engine
• Research Methodology

2. Growth Opportunity Analysis

• Scope of Analysis
• Segmentation
• Growth Drivers
• Growth Restraints

3. Introduction to Digital Twin

• Digital Twin Explained
• Working Principle of Digital Twin
• Types of Digital Twins by Application

4. Digital Twin Applications in the Energy Sector

• Introduction to Digital Twin Applicability in the Energy Sector
• Need for Digital Twin Technology in Conventional Power Generation
• Working Mechanism of Digital Twin for Conventional Power Plants
• Case Study: Digital Twin for Coal-fired Power Plant
• Digital Twin Enhances the Renewable Power Plant's Adaptability to Operating Conditions
• Case Study: Digital Twin to Audit Solar Power Plant Performance
• Digital Twin for Power Transmission and Distribution
• Asset Digital Twin Enhances Efficiency and Longevity of Power Transmission and Distribution Equipment
• Grid Digital Twin Enables Optimal Grid Expansion without Compromising Resiliency
• Case Study: Digital Twin Enhances Grid Economics and Resiliency

5. Companies to Watch

• Siemens Energy, US
• Envelio, Germany
• Companies to Watch in Digital Twin Technology for the Energy Sector

6. IP Analysis of Digital Twin Technology in the Energy Sector

• China Dominates the Digital Twin Technology Patent Landscape

7. Growth Opportunity Universe

• Growth Opportunity 1: Integrated Digital Twin Deployment across Value Chain
• Growth Opportunity 2: Digital Twin-as-a-Service Business Model
• Growth Opportunity 3: Collaboration between OEMs and Utility Companies

8. Next Steps

• Your Next Steps

A selection of companies mentioned in this report includes:

• Envelio
• Siemens Energy

For more information about this report visit https://www.researchandmarkets.com/r/mpu86

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