Industry Trend Analysis - Quick View: Envision's IoT Alliance To Compete For Leadership Of Energy Digital Ecosystem - SEPT 2017
The Latest: On July 14, Chinese wind turbine manufacturer Envision Energy announced the launch of the Energy IoT and Smart City Technology Alliance, in cooperation with technology firms Microsoft and ARM, and consultant Accenture. In a press release, Envision described the initiative as an "open-platform alliance that connects energy pioneers and technology innovators to help accelerate the clean energy transition through digitalization". The company also said that the initiative "will help improve efficiency, capture more value and accelerate digital transition on a global level".
Implications: The Alliance is the latest example of a trend that sees manufacturers of power-generating technology (and other industrial equipment) build a digital platform in which they integrate the equipment they produce, in order to collect and monetise data generated during operations. Monitoring equipment's activities with embedded sensors - an example of energy-related Internet of Things (IoT) - helps wind turbine manufacturers like Envision to improve product design and carry out maintenance interventions before a problem interrupts operations, a process known as predictive maintenance.
Engineering giants GE and Siemens have both developed their version of industrial IoT software, called Predix and MindSphere, respectively. Envision - which also operates in the solar power sector - launched its digital energy platform in September 2016 under the name of EnOS, which the company has used together with its analytics system EnSight to advance the performance of wind and solar power plants and grid-connected equipment. Moreover, Envision says the platform "connects renewable energy generation, energy storage, electric vehicles, smart grids, smart meters and appliances", providing a solution for a "connected energy world".
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