Opening New Revenue Streams with Digitalization

Everywhere we look today – from how we travel to how we eat, from how we connect, to how we shop – one thing is clear to see: there’s a massive, worldwide shift towards an information-based, digital economy.

This isn’t just exciting from an innovation point of view… and it isn’t just a cool techie way to order a ride or book your holiday accommodation!

The digital revolution is transforming how the wind industry does business – and opening new revenue streams all around us.

How?

Well, this is where a simple formula helps. When it comes to digitalization and wind turbines, there’s one thing that’s crucial to remember:

life extension = cost reduction

Let’s break that down for a moment. The better and more reliable the components are in your turbine, the longer your turbines are going to last. And the longer your turbines last… the more profitable they will be!

So where does digitalization come in here? How can digitalization make your turbines last longer?

Let’s take just one simple example: say you have a single wind turbine, right? You want to reap the most out of the various components in the turbine – not just this year, but for years to come. Wouldn’t it be cool if you could test all the components in your turbine to know how well it’s going to perform? Wouldn’t it be cool if you could accurately predict when your components are going to fail?

Well, digitalization allows you to digitally clone your components and test them in real time. This allows you to make accurate long-term prognostics: you can see which components are going to have problems – and when those problems are going to arise. This allows you sort out problems before they even happen.

Now let’s imagine you don’t have just a single turbine – but an entire fleet. Imagine you knew which components were going to work best, for longest. Imagine if, by using the data that digitalization brings, you could select the correct asset action across your fleet.

This is exactly what digitalization does: it helps operators avoid major costs of future replacement and enjoy the enormous financial benefits of multiyear forecasting and budgeting.

This is just part of how digitalization can open new revenue streams.

Want to test your knowledge to see if how much you can save?

Register below to play The Wind Challenge to compete to make your turbine last the longest with the lowest repair cost.

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