How Can Advanced Analytics Improve Your ROI?
(Room Windsor Complex)
28 Feb 18
9:30 AM
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10:00 AM
As the wind energy industry matures, there’s been an increased focus on the optimization of wind farm operations. Whether it’s through improving the performance of wind turbines, reducing downtime and service and maintenance costs, or extending the life of the assets, there’s been an increasing trend of leveraging advanced analytics to reduce the Levelized Cost of Energy (LCoE). But what are the most important items to focus on? And how much will that improve your ROI? This presentation will go over the latest advances in digitalization and advanced analytics. Case studies from operating wind farms will showcase the following factors: ease of data analytic implementation and the likelihood of lowering LCoE when leveraging advanced analytics. An example includes Digital Twin, already popular in other industries, which are models of wind turbines updated using operational data and can be used to extract useful information on the condition of the assets. They not only provide an attractive solution to optimize servicing and supply chain strategies, inspections and provides the value of the asset, but also allows for strategic decision-making processes. Additional examples of digitalization will include pattern of production, residual analysis and model-based machine learning.