7 ways Analytics can improve Renewables Industry business metrics
By Lakshman Sutrave, October 26, 2017
Every day, renewable energy assets generate huge volumes of data. How effectively can you make sense of the data generated? How effectively can you manage your renewables assets and operations using the data?
Conventional reporting practices and spreadsheet-based analyses do not give real-time information, and need a lot of resources and effort to analyse data and get insights. Using Analytics, on the other hand, not only helps you save on resources, time and cost, but also gives you real-time insights to help you take informed decisions.
The top 7 areas where Analytics can make a big difference in the Renewables Industry
- Real-time Asset Monitoring
- Operations Monitoring and O&M Engagements
- Performance Improvements
- Predictive Maintenance
- Forecasting & Scheduling
- Business Plan Targets Vs Achievements
- Resource Management
BCT’s Solutions for the Renewables Industry
BCT is one of the few players in the Renewable Energy space that blend its strong capabilities in Analytics with its deep domain expertise in Renewables. Using its powerful integration and analytics platform, RETINA, BCT has built OEM-agnostic solutions for the Renewables industry – Turbine Maintenance and Operations System (TOMS) for Wind Farms & Solar Park Operations Visualization & Analytics (SOVA) for Solar Parks.
Both solutions offer comprehensive functionalities that help efficiently manage asset operations, while providing critical insights that help you drive profitable business operations.
Here are some of the key functionalities of TOMS and SOVA
- Real-time Monitoring of Systems and KPI – Keep track of functioning of wind farms/solar parks in real-time, and track variations in power generated and transmitted
- Asset Performance Degradation – Monitor the performance scores of your assets and understand the degradation patterns
- Power loss and Root Cause Analysis – Deep dive into reasons for energy loss or variation of production. Get alerts on asset performance and potential failure
- Predictive Maintenance and Failure Analysis – Predict component failures and plan to tackle by planning the inventories and the resources
- Forecasting and Scheduling – Day ahead forecast and reporting according to compliance requirements
- Investor Analytics – Understand if the business is giving the targeted returns. Show value to the investors and gain further investments for future expansions