Advanced asset management: Powering sustainable smart grids

Advanced asset management promises a modern, cost-effective solution to sustainable smart grid challenges.

The last decade has seen growing consumer demand for energy and sustainable energy transition. Regulatory demands, particularly around environmental impact, have also evolved.

Grid companies and power grid operators are using advanced asset management (AAM) solutions to stay competitive, build resilience, and meet consumer and regulatory demands.

With predictive modeling, risk management, and workforce optimization, digital grid assets can become more reliable, sustainable, and cost-effective to maintain. Best-in-class asset management services are also fundamental to securely integrate data sources and create a connected ecosystem of smart grid technologies.

A rapid surge in technological innovation offers an exciting opportunity to adapt, but aging power grid infrastructures present constant hurdles which require meticulous maintenance or replacement. Failure to manage assets properly during a smart grid transformation could also result in siloed modernization projects that are not connected and are ultimately less effective.

The level of transformation needed to adopt advanced asset management is very different from what today’s grid operators have previously undertaken. It requires specific skills, systems, and processes.

In Advanced asset management: Powering sustainable smart grids, we take a closer look at advanced asset management and how to approach implementation in a holistic way.

You’ll learn:

• Why advanced asset management is essential for smart grid modernization
• How technologies like predictive analytics, artificial intelligence, and the Internet of Things (IoT) improve asset management processes
• How advanced asset management can be used to fuel sustainability initiatives