Leveraging Data in Energy Systems Transitions
We must work to decarbonize our energy systems to meet global climate goals while also supplying the energy necessary to support economic growth and sustain quality of life around the globe. Business leaders and policymakers are increasingly recognizing that this dual imperative is not just aspirational, but critically necessary.
Deloitte recently surveyed more than 600 C-Suite energy and industrial executives. They found that more than 89 percent had plans in place for reducing carbon emissions. Additionally, 70 percent of those surveyed believed that digital and data tools will be the key driver in enabling sustainable and efficient energy transitions.
Historically, energy transitions have occurred over generations. However, our current carbon reduction goals require a much faster time frame. We at GTI Energy are working to bring together actors from across the industry to work collaboratively on developing the critical tools necessary to accelerate our transition to a low carbon future. In January, I spoke at a GTI Energy Tech Talk about the important role that data and geospatial innovation will play in reaching this future.
In today’s energy systems, we’re using data to improve field operations, to record information in databases rather than paper, and to make improvements and maximize our current infrastructure. This marks a substantial improvement in recent years. But our current approach is too narrow, and the energy sector has lagged far behind other industries when it comes to adopting and leveraging innovative data tools.
Dr. Fatih Birol, the Executive Director of the International Energy Agency, recently stated that, “[the] digital world and energy world; they have just recently met. There are [currently] very few intersections that the digital world and energy world make use of each other.” We currently stand at the precipice of a fundamental transformation of the industry that harnesses data and digital tools to improve efficiencies and reduce carbon.
Looking ahead, trends in artificial intelligence and computer science make it clear that digital solutions will be the backbone of energy systems transitions. While data from the past is not always a good indicator for the future, advances in artificial intelligence will help us create predictive programs that can simulate years into the future. In any of these solutions, explainability and trust needs to be embedded within any models and simulations. This requires not only deep subject matter expertise, but also broad collaboration across silos. A greater understanding of the data will also help us view energy systems as integrated, and not just as individual technologies.
Climate action, sustainability, and low carbon initiatives are now a business imperative, not just elective goals. These critical innovations will require substantial long-term investments from public and private organizations to develop new tools and train existing workforces. GTI Energy is poised to work with organizations across the energy sector to develop these digital tools and technologies that will help accelerate this low carbon future. Now is the time to act.
