By embracing the 4th Industrial Revolution, we transform the electric grid and we can improve access to affordable, reliable power.
Technological advances from the Industrial Internet to renewables are transforming the energy industry. Here are the key trends to watch over the next decade.
Hyper-connectivity is transforming many industries — few more so than the energy sector. The expansion of the industrial Internet and power of Big Data analytics is enabling power companies to predict maintenance failures and approach zero downtime, while smartgrids and apps are empowering consumers to become producers.
The Internet is no longer just about email, ecommerce or Twitter. “We are at an inflection point,” says Joe Salvo, manager of Complex Systems Engineering Laboratory at GE Global Research. “The next wave of productivity will connect brilliant machines and people.”
But before that happens, they must find a common language. “It’s still like the Tower of Babel,” Salvo says. “We need to bring them together in powerful new networks.”
Australia, 21 March 2013: GE welcomes the Australian Government's commitment to stabilise the bipartisan 2020 Renewable Energy Target (RET).
GE Renewables Asia-Pacific Leader, Peter Cowling, said the Government's commitment to implement the Climate Change Authority's findings - including the 41,000GWh 2020 Large-scale RET as passed by both Houses before the last election - would provide investment certainty and drive downward pressure on wholesale electricity prices.