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GETTING GREENER,
BUT NOT FAST ENOUGH

GETTING GREENER,
BUT NOT FAST ENOUGH

The planet's transition to renewable energies is advancing at record pace, but some major speedbumps still stymie the way.

  • 60%

    Total global renewable electricity capacity is expected to soar by 60% over the next five years

  • To Reach

    4,800GW

    Equivalent to the world's combined power capacity of fossil fuels and nuclear today

  • Growth in renewable energy capacity continues to hit new highs. According to the International Energy Agency (IEA), total global renewable electricity capacity is expected to soar by 60% over the next five years to reach 4,800GW, equivalent to the world's combined power capacity of fossil fuels and nuclear today. Driving this expansion, the IEA explains, is strong policy support from governments across the world, ambitious net zero goals by nations representing 90% of global GDP, and the improved competitiveness of wind and solar.

    Companies have also bought record amounts of renewable energy in 2021. Many of them - which include the Big Five tech giants - are pledged to the RE100 initiative to procure all their energy from renewable sources.

    Despite strong momentum, the pace of transition is still too slow. To achieve net-zero emissions by 2050, the IEA calculates that the average annual addition of solar PV and wind capacity must double from current levels in the coming five years. For biofuel, annual demand must quadruple to reach climate targets.

    Moreover, there are signs of damaging instability in energy markets. Extreme weather events and geopolitical shocks, along with growing demand for electricity caused by accelerated digitalization and electrification, continue to unbalance markets. Increasingly frequent electricity shortages and even outages, along with spiking electricity prices, are troubling users around the world.

RISING TO THE
RENEWABLE CHALLENGE

RISING TO THE
RENEWABLE CHALLENGE

  • Faster and broader adoption of renewable energy depends on overcoming two key challenges: the volatility and decentralized nature of green power generation.

    First, compared to conventional power plants, the output of key renewables such as wind and solar is volatile. Weather conditions and other environmental factors lead to either extreme shortages or surpluses depending on the time of the day or season. Without an effective system to store this energy and release it when generation falls, it will be difficult for renewables to provide a stable source of electricity.

    Second, renewable electricity tends to be decentralized and difficult to integrate. Renewables are generated by bringing together multiple small-scale individual assets. These assets must not only be individually monitored and controlled, but also managed jointly to achieve stability and efficiency. But when such resources are effectively integrated into a microgrid, they can potentially provide a green and autonomous source of backup power during emergencies.

    Japanese technology company Yokogawa believes that these challenges can be best met when companies, industries, and communities who share the same green aspirations connect horizontally, sharing solutions and assets in partnership for a common purpose.

    To help achieve such collaboration on renewables, Yokogawa hopes to offer the world its decades of experience in power plants; host of edge devices, controllers and industrial IoT software platforms; advanced solutions for the optimization of energy storage devices; and management systems for buildings, factories, and communities. With this know-how, clients and partners will be able to better manage the increasingly diversified energy supply chain and maximize the deployment of renewable energy assets.

Although the renewable energy market has become highly competitive, Yokogawa has unique know-how in a particular area.

CONNECTING
AND INTEGRATING
RENEWABLE
STAKEHOLDERS

CONNECTING
AND INTEGRATING
RENEWABLE
STAKEHOLDERS

  • Although the renewable energy market has become highly competitive, Yokogawa has unique know-how in a particular area: connecting and integrating diverse operations and assets to optimize efficiency. Recent partnerships, mergers and acquisitions expand on Yokogawa's capabilities.

    In 2021, Yokogawa acquired PXiSE Energy Solutions LLC. The San Diego-based developer of software enables utilities and other grid operators to deliver reliable and stable power by managing renewables and distributed energy resources (DERs) in real time. By combining this software with its strengths in monitoring and controlling power-generation equipment, Yokogawa hopes to help customers in the power transmission and distribution sectors shift to renewables.

    In May, Yokogawa acquired Danish company Dublix Technology ApS, a provider of solutions that improve the efficiency of waste-to-energy (WTE) and biomass power plants. Yokogawa hopes to combine Dublix's combustion control and boiler-performance enhancement solutions to its range of control, monitoring, and maintenance systems. Synergies will improve the efficiency and profitability of both WTE and biomass power plants.

    Yokogawa has also been participating in geothermal power generation projects around the world to better harness the potential of this environmentally friendly renewable resource. For instance, at the Kenya Electricity Generating Company PLC's Olkaria Geothermal Complex, the company installed an IoT system that allows data from multiple geothermal power stations to be accessed from a central administrative office. This makes it possible to centrally manage the performance of the power generation units at each of these stations, aids in determining the causes of deteriorating performance, and provides information on the maintenance status of related equipment. In this project, Yokogawa leveraged its insights and expertise to integrate the remote management of facilities at these power stations.

MAKE A
CONNECTION

MAKE A
CONNECTION

Despite the challenges that lay ahead on the planet's quest to a net-zero society, the aspiration to achieve a greener society is shared across most governments, companies, and communities. Technological innovation, too, has not flagged - with ever more competitive ways to produce, store, and deliver renewable energies. What is needed now is to bring together these commitments and new technologies for the common planetary purpose.

And this is where Yokogawa's own purpose - "Utilizing our ability to measure and connect, we fulfill our responsibilities for the future of our planet” - can play a vital role.

Through solutions which connect diverse sets of information, people, organizations, and companies, Yokogawa hopes to create shared value. Its ambition is not just to become a leading supplier of renewable energy solutions, but to help lead the world to a more sustainable, symbiotic, and smarter planet.

Let's hope such connections flourish so that we may keep our planet plugged in.

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