With global electricity demand projected to grow by 4% in both 2024 and 2025*— one of the fastest growth rates seen in two decades — utilities face the pressing challenge of ensuring their grids can meet this surge reliably and sustainably.
Rising energy consumption and the integration of renewable energy sources make it essential not only to add capacity but to do so smartly and sustainably. We have seen first-hand there is one crucial element to meet this effectively: accurate grid asset data.
Without this, utilities are essentially navigating blind. By understanding the true state of the grid’s condition, utilities can not only handle current loads but also plan smartly for future expansions and repairs.
At the heart of effective grid management is accurate asset data.
For utilities, maintaining a complete and up-to-date picture of their infrastructure is essential. Without it, effective operations management, future planning, and smart investment decisions become nearly impossible. The first step toward improving the accuracy of grid asset data can begin with activities like grid inspections or a data quality improvement activities like grid inventory programs.
For either of these activities, utilities need to ensure that the data collection is focused on image-based asset data, collected with high-resolution cameras that capture detailed views of the infrastructure. These images, when processed through advanced tools like Grid Vision®, provide a visual inventory of assets, cataloging them with pinpoint accuracy and linking the asset to additional information like inspection data.
What benefits can you achieve with image-based accurate asset data?
Once utilities start collecting and leveraging accurate image-based data, they can unlock several critical benefits that support operational efficiency and long-term grid resilience:
- Efficient Maintenance: Precise image-based data enables condition-based maintenance. This allows utilities to identify assets that require attention before they fail. This proactive strategy reduces outages, extends asset life, and prevents costly emergency repairs.
- Better Investment Decisions: Accurate, consistent and objective insights of grid infrastructure condition allows utilities to prioritize capital investments based on risk. For example, virtual inspections enabled by AI can highlight critical areas where repairs are needed, helping to allocate resources where they will have the most impact.
- Enhanced Planning for Growth: Accurate image-based asset data supports improved forecasting for future grid expansion or reinforcement. As demand rises, utilities must not only repair existing infrastructure but also build new assets.
- Improved Safety and Compliance: Knowing the exact status of grid components ensures compliance and reduces the risk of incidents. This compliance aspect is particularly important as aging infrastructure and increased renewable energy integration strain the grid.
Data as the Cornerstone of Grid Management
Accurate, reliable asset data is more than a convenience—it’s essential to managing current operations effectively and preparing for sustainable growth.
By embracing advanced digital tools, like Grid Vision, and leveraging the power of AI, utilities can transform their data collection and asset management practices, ensuring they stay ahead of the curve in a rapidly evolving energy landscape.
*Source: International Energy Agency (IEA) report, 2024 forecasts on electricity demand growth.