BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research examines data collection within the wind power industry as asset owners seek to improve wind plant performance and manage operations and maintenance (O&M) costs.
Today’s wind plant owners face increasing pressure to optimize the performance of their wind projects, foresee impending component failures, and grow O&M savings. An increasingly sophisticated data technology ecosystem of sensors, condition monitoring systems (CMSs), turbine optimization platforms, and predictive analytics (PA) software can provide cost savings and risk management for plants large and small. Click to tweet: According to a new report from @NavigantRSRCH, there is considerable room for further deployment of data collection and analysis systems across the market.
“There is a growing addressable market for data collection and analysis platforms in the existing US and broader global wind fleet because not all wind plant owners have maximized the use of such systems,” says Jesse Broehl, senior research analyst with Navigant Research. “Where there is room for more adoption is with advanced pattern recognition (APR) or other statistical modeling methods or platforms to address turbine and site performance optimization.”
For industry players looking to fill gaps in the market or streamline costs, Navigant Research recommends wind turbine manufacturers continue to sell and invest in data analytics. Third-party data analytics vendors should stress their independence and target opportunities at the turbine pre-end-of-warranty stage. Wind plant owners not already doing so should test and evaluate the data analytics offerings and big wind plant owners should consider acquiring in-house assets to maximize savings.
The report, Capturing and Maximizing Wind Power Plant Data, focuses on data collection within the wind power industry as asset owners seek to improve wind plant performance and manage and minimize O&M costs. The study analyzes the data collection strategies of anonymized wind plant owners surveyed as part of Navigant’s Generation Knowledge Service (GKS) Wind Benchmarking service. The GKS peer group includes 9.3 GW from a variety of turbine models, plant sizes, ages, and O&M contract types. The results show what type of data is collected, how it is usually collected, and where there is room for data analytics growth. It also examines how and when CMS and PA platforms are being deployed in the marketplace for new and operational turbines. Recommendations are provided on how wind turbine OEMs, wind plant owners and other stakeholders should explore the growing addressable market for data collection and analysis platforms. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Capturing and Maximizing Wind Power Plant Data, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.