Despite its exit from the Paris Climate Agreement in 2017, the United States still invested $64,2 billion in wind, solar, and hydro energy generation in 2018, remaining the second most attractive nation for renewable energy investments after China.
Financiers have the potential to unlock $1 trillion in renewable investment and increase the global GDP by more than 1% which could dramatically change the future of renewables globally. One way to support renewables projects and systems is through the connection of the Internet of things (IoT).
For example, the IoT platform labeled ARISTOTELES and developed by Kaiserwetter, provides such an answer to unlocking greater U.S. investment in renewables in a cost-efficient manner which guarantees safe returns.
Kaiserwetter is listed as one of the top 10 companies at the forefront of delivering turnkey asset management solutions in the U.S. Based on smart data analytics, predictive analytics, and machine learning, and powered by the SAP LeonardoIoT, ARISTOTELES significantly increases the performance of renewable energy assets and entire portfolios. Designed as an executive-level dashboard, ARISTOTELES aggregates and correlates technical, meteorological, and financial data from wind farms, solar parks, biomass, and hydropower stations.
“With the year 2020 fast approaching, countries around the world are pushing to meet Paris Climate goals,” says Hanno Schoklitsch, CEO of Kaiserwetter. “So it’s becoming even more crucial to convince private capital investing in renewables on a global scale. Utilizing digital innovation ensuring a safe and high return on investments, is the only way forward to meeting these goals.”
Attracting more private capital is the common objective within the renewable energy sector, and could provide the key to achieving some of the objectives laid out in the Paris Agreement. Kaiserwetter plays a key role in combating climate change by driving investment in the renewable energy sector through maximization of returns and minimization of investment risks.
This all leads to transparency, which is essential for all stakeholders including investors, financing banks and power generation companies.