Published Date : Sep 10, 2015
The renewable energy sector is growing remarkably in both developing and developed nations. Countries are getting ambitious and upping their targets for renewable energy capacity. This shows how much the renewable energy sector is growing. Companies and nations are adding up to their capacity by increasing the number of plants and also investing substantially for research and development. However, only enhancements in mechanical engineering and physics are not enough to support the growth of this expanding sector.
We need better technology to boost the renewable energy industry and the next wave of innovation will come from sensors and data, that is, the Internet of Things (IoT). To match the tremendous demand, companies in the renewable energy sector need to significantly add to their capacity. However, with this expansion will come the challenge of scaling the operational excellence and also maintaining the profits. Hence, firms are seeking ways to manage their large capacities with their several physical assets that are located generally in remote areas and are widely distributed. To tackle such arrangements, IoT analytics can greatly help.
Internet of Things can help to evaluate real time speeds in part to the growth of the plant event processing systems. Furthermore, one can even argue that the efficient deployment of IoT will become the key difference between the companies that will do well in the renewable energy sector in the future. The top four areas of growth that IoT analytics needs be deployed are: big data, decentralization, horizontal integration and vertical application, and the integration of novel analytics and machine learning.
The growing dependency on renewables as one of the important source of energy calls for deployment of IoT quickly and accurately to successfully scale the RE sector across the globe. And firms and countries that focus on the aforesaid four areas of Internet of Things will greatly emerge as winners in the industry.