The power industry is adapting and changing. The global energy demand is increasing on average 1.3% per year, and we are increasingly consuming clean energy instead of only fossil fuels. Consumers, countries and companies are prioritizing the need to become greener and more energy-efficient, with decarbonization being key in meeting targets of the Paris Agreement. Moving forward, how we produce our energy needs to be revamped and digitalized to ensure efficiency, accuracy and productivity for all energy sources.
There are three main power sources currently: fossil fuels, nuclear and renewables. Nuclear and renewables are classed as “clean” energy sources due to releasing little to no greenhouse gases. So, the big question is, how can fossil fuel power production become cleaner?
There are lots of different ways to enable cleaner production of energy. These include carbon capture, post-combustion capture and oxy-fuel combustion, to name a few, in addition to the revamping of brownfield sites. The power industry faces challenges as it needs to become more efficient whilst demand increases year on year.
It is also key that existing production sites remain cost-efficient and safe, fitness for service of the equipment is ensured and the asset life of existing facilities can be extended. This is where CADWorx and Analysis Solutions can step in and provide a digital toolkit by integrating design with analysis to ensure maximum efficiency for project execution.
By extending the lifecycle of power plants through revamping sections and re-utilization of equipment with CADWorx, the industry can gain greater cost efficiency, improved production and ROI.
Regulatory compliance is also a factor that the power industry must take into account in projects across all power types. The CAESAR II solution allows engineers to quickly carry out pipe stress analysis with easy integration with CADWorx, enabling users to save time and produce compliant designs accurately and swiftly. This also allows engineers to forecast the health and performance of the asset to help avoid downtime and reactive maintenance issues.
If you want to discover more about how Hexagon solutions can enable you to achieve a competitive advantage and empower your teams, watch the on-demand webinar Power Industry Webinar . During this webinar, I go into more detail about the power industry and how Hexagon solutions can bring benefits and solve problems for power project execution. I also highlight power customer success stories.
Follow this link to watch the webinar on demand.