Asset Management Opportunities for the Power Grid

The huge investments pouring into the electric grid infrastructure provide an economical opportunity for power grid owner/operators to include an asset condition monitoring infrastructure from the onset of these projects, and this will fundamentally change the way that grid assets are managed and maintained, says ARC Advisory Group.

“With smarter electric grids, operators will be able to take a more proactive role to ensure the seamless flow of power. Smart maintenance technology solutions will enable operators to identify problems quickly, preventing equipment failures and subsequent power outages,” according to Analyst Allen Avery, the principal author of ARC’s “Smart Maintenance Technology Solutions for Power T&D Worldwide Outlook”.

According to ARC, the Smart Maintenance Technology (SMT) solutions market is poised for strong growth in coming years as a number of factors converge to drive adoption of SMT solutions, including increased demand for electricity, the proliferation of the Smart Grid, and the aging of both the power infrastructure and utility workforce.

Asia and the Middle East will see the strongest growth as these developing regions work to build up their power infrastructures to meet the ever growing electricity demand of their growing industrial base and burgeoning middle classes as they acquire appliances and electronic consumer goods. Deploying SMT solutions in greenfield installations can be more easily accomplished by designing the necessary infrastructure during the planning stages of the project.

In North America, the rising demand for electricity in North America continues to strain the aging electricity infrastructure in both the US and Canada, with more businesses and homeowners struggling with surges, outages, and weather-related power losses. While demand rises, fewer new generating plants are being built, and utilities are pushing the electric grid to its capacity and beyond.

Keeping the grid operating smoothly and reliability has become more difficult than ever as the industry is forced to grapple with the aging, less reliable infrastructure, and an aging workforce that is approaching retirement. Effective SMT solutions could allow utilities to prolong the lives of their transformers by keeping them operating within safe tolerances that do not push them beyond their limits, says ARC.