Digitalization key to sustainable energy

In observance of World Energy Day on October22nd, Kaiserwetter, the international service provider for the management of renewable energy assets, applauds the global progress in sustainable energy. However, digitalization of the energy sector is the only way to meet the objectives of the World Energy Day to achieve safe and sustainable energy for all.

Despite an increase in renewables, more needs to be done to achieve safe and sustainable energy for all. Kaiserwetter explains how digitalization is a key solution to ensuring a sustainable future.

Since the 1990s, the clean energy sector as a whole has continued to grow year on year, a positive trend which contrasts with other energy sources like coal and nuclear in the electricity sector. Over the last year, renewable energy contributed to 19.3% of global energy demands and 24.5% of electricity production worldwide.

China is the greatest investor of renewable energy, accounting for 32% of total investment worldwide, followed by the United States (19%), the United Kingdom (10%), Japan (6%) and Germany (5%).

In fact, the new capacity for renewable electricity increased to a record 138.5 GW in 2016, accounting for 55.3% of all the GW of new power generation added worldwide last year. This makes 2016 the year with the highest clean energy output on record. Most importantly, this new capacity was delivered at a much lower cost: the 8% increase in new capacity over the previous year required 23% less investment.

Despite this progress, Kaiserwetter calls on the global investment community, as more needs to be done to fulfill the objectives of the World Energy Day to achieve safe and sustainable energy for all.

The solution lies in digitalization, which enables investors in the energy sector to maximize the return on investment and to minimize the risk of their renewable energy investments. Kaiserwetter has shown the potential of digitalization with the launch of its digital platform ARISTOTELES, which helps investors and financing institutions to secure their investments from an executive level perspective. It is the first digital solution on the market that integrates the possibilities of Internet and Things (loT), big data mining and smart data analytics by combining technical with financial data.

“Kaiserwetter celebrates World Energy Day and the impressive steps made in sustainable energy worldwide. However, the global transformation towards renewable energies can only be achieved with the help of digitalization and the Internet of Things (IoT),” explains Hanno Schoklitsch, CEO of Kaiserwetter. “Investments in renewable energies, while using the IoT and smart data analytics, offer unexpected opportunities of boosting the expansion of renewable energies on a global scale.”

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