IBM launches asset lifecycle management tool for renewables

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Maximo Renewables provides insights, tools, and expertise operators need to manage and maximise the efficiency of their renewable energy assets

IBM has announced the general availability of Maximo Renewables, a solution to help manage and maximise the efficiency of renewable energy assets.

IBM claims Maximo Renewables can help accelerate organisations’ sustainability initiatives by allowing them to track and monitor the performance of solar, wind and energy storage assets in near real-time. This will assist in identifying causes for underperformance and recommending actions to optimise renewable generation capacity.

On-site energy generation

Companies are increasingly relying on renewable energy for on-site operational generation and to support grid reliability. According to the International Energy Agency in 2023, renewable electricity capacity reached an estimated 507 gigawatts, almost 50 per cent higher than 2022. Not only that, but renewable power capacity additions is expected to increase in the next five years. IBM reckons asset lifecycle management (Alm) for renewable assets will become a top priority for organisations across multiple industries.

Managing renewable energy assets can be overwhelming for organisations due to their high volume of assets and their complexity. External factors like weather and debris can negatively impact energy output, system efficiency, and uptime, according to IBM, and routine inspection can be costly, time-intensive, and requires specific asset expertise.

Businesses are also facing high operating and maintenance (O&M) costs for these assets, and rising pressure on margins from stakeholders. In turn, operators of renewable power plants are left with an imminent need to effectively coordinate and optimise O&M decision intelligence across complex portfolios.

IBM reckons asset lifecycle management for renewable assets will become a top priority for organisations across multiple industries

IBM claims Maximo Renewables is designed to help tackle this challenge by enabling operators to monitor and analyse wind, solar, and energy storage assets, access insights on underlying performance issues, and get actionable recommendations to maximise their return on investment.

The release of Maximo Renewables is intended to enhance the capabilities of IBM Maximo Application Suite, its solution for asset lifecycle management.

According to IBM, this renewable energy management technology is already helping organisations better visualise the performance of their renewable asset portfolios. For example, Param Renewables in India is using this technology to manage six gigawatts of renewable assets. The organisation is the operations and management arm of Gensol, an operations and management solution provider.

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