1 TW of solar capacity will be deployed every year starting 2028.

On April 16th 2024, California just introduced everyone to the future with batteries supplying a quarter of all electricity consumed.

With increased penetration of renewable generation on the grids, we are at a turning point where assets are becoming more and more complex. Here are a few examples of the trends we've been noticing in the market.

This standard provides guidance on how to implement and manage an efficient and reliable asset management system. It might not come as a surprise but asset information is a central piece of the puzzle.

As the overall cost of generating electricity has fallen, the relative importance of operating expenses (#Opex) has risen. Currently, Opex typically accounts between 20% and 30% of the LCOE - a significant portion.

Fun? Useful? Revolutionary? Statistics? Scary? We are surrounded by AI, it is in our phones, computers, vacuums and even fridges. At this point we may even expect AI to be in “everything”. But, have you ever taken a step back and thought about what AI really is and what value it brings you?

A McKinsey & Company analysis predicts that by 2030 we will need an extra 1.3 million white-collar workers to operate and maintain the renewable power plants worldwide. Additionally, 2.1 million blue-collar workers have to be added to the workforce solely for the operations and maintenance of these power plants.

Last week DLA Piper Norway hosted a very interesting event focused on using the “commercial power of AI”. We were lucky enough to be able to attend, and want to share some take-aways.

Asset information contains both structured and unstructured information. At Aevy we focus on the unstructured information contained in text-based documents like contracts, monthly and inspection reports, as-built documentation, etc.

Last year was a massive year for AI. In August 2023, Retool surveyed over 1500 people about their relationship with with Generative AI (GenAI) and found that 34.4% responded “Yes” when asked if they secretly used AI at work.