It is breathing life into our existing energy resources and creating new opportunities.
Better use of data has visible, tangible and immediate results.It is helping energy companies become safer, more reliable and more efficient.
This is good for both our wallets and our planet.
Improved forecasting:
IBM’s windpower forecast models demonstrated significant improvements in accuracy compared to current models. Increases ranged from 5 to 15 MW per wind farm, which equated to US$300–400K in savings per year.
Cut equipment purchases:
A fleet-management company saved US$9.5M by achieving 100% availability with fewer vehicles.
Better use of resources:
An electric utility distribution company improved productivity 14% by better use of resources.
Improved asset utilization:
A large OEM reduced overhaul times from 56 days to 21 days.
Reduced plant downtime:
A power-generation utility reduced planned overhauls by 5% and eliminated 5% of forced outages, saving US$4.6M annually.
Better forecasting:
IBM’s hydropower forecast models improved accuracy significantly compared to current models. Increases ranged from 47% to 72% per hydro facility, which equated to US$1–6M in savings per year.
Reduced inventory costs:
A power company reduced inventory by 26%, and an electric and water utility achieved 25% in inventory reduction and US$33M in savings.
Reduced operating costs:
90% of C-level executives representing 15 countries and 13 industries say weather insights could reduce annual operating costs by 2% or more.
A dandelion seed can travel up to 500 miles on the wind. (But 99.5% of the seeds land within 32 feet of their parent.)
