GE: IoT Makes Power Plants $50M More Valuable - InformationWeek

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9/29/2015
01:06 PM
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GE: IoT Makes Power Plants $50M More Valuable

GE preps general availability of its Predix analytics platform, says managing utility output with Internet of Things data will increase an electric plant's value by $50 million over its lifespan.

(Image: FraukeFeind via Pixabay)

(Image: FraukeFeind via Pixabay)

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batye
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batye,
User Rank: Ninja
10/4/2015 | 3:14:51 AM
Re: Rules Change Required
@ITKat I would say you are right, as technology this days is create never ending process of updates and upgrades...
SaneIT
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50%
SaneIT,
User Rank: Ninja
10/2/2015 | 11:04:34 AM
Re: Greater Collaboration
"The smart grid of the future will have to make moment-by-moment decisions"

I think this is the best reason to push IoT in this industry.  Loads shift constantly even without supplemental systems like solar or wind.  An unexpectedly cold or warm day can do as much to shift demand as another power source coming on line.  Hopefully this means better blends of power generation and less waste.
ITKat
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50%
ITKat,
User Rank: Apprentice
10/1/2015 | 6:45:40 AM
Rules Change Required
In example given of the two operators, the constraint is skill, equipment readiness and rules that dictate the response (with exception of emergency underfrequency auto regulation), not the grid. Software is great step, rules/incentuves need big changes as usual.
Gary_EL
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50%
Gary_EL,
User Rank: Ninja
9/29/2015 | 10:35:47 PM
Re: Greater Collaboration
Deciding what gets shared and who owns what data will mean a busy, happy time for lobbyists, lawyers and regulators.

>> Two plants with different operators will show different results in power output compared to energy consumption and pollution control, even though they may otherwise be highly similar

Well, that will always be the case, with or without the IOT, but I see GE's point. Undoubtedly, GE will have some of the best people in the world pouring over the petabytes of data a power plant will generate, which will make for better performance now and better plants in the future.

The smart grid of the future will have to make moment-by-moment decisions based on factors like sunshine in Arizona, wind in Kansas, the spot price for natural gas in NJ and demand for air conditioning in the South. GE's Predix is great early step.
Ariella
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50%
Ariella,
User Rank: Author
9/29/2015 | 8:42:42 PM
Re: Greater Collaboration
But will they all share freely, or will some want to keep the advantage of some data to themselves?
tzubair
50%
50%
tzubair,
User Rank: Ninja
9/29/2015 | 5:00:34 PM
Greater Collaboration
"In the future, good management won't solely be about efficient power plant operation, but also connecting the plant's output to the state of the grid."

I think this may be a major development in the area of industrial management. What it will lead to is greater collaboration in the industry and best practices to be shared. Further, it will give a chance to study data in more detail as every company will be uploading it on the cloud and sharing it.
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