Technical Innovations in O&M Sector in Wind Power Industry

Technical Innovations in O&M Sector in Wind Power Industry

Summary

Once a wind power plant (onshore or offshore) becomes operational, the operation and maintenance (O&M) cost accounts for approximately 30% of the total cost of energy from wind power plants. Offshore wind farms attract higher O&M costs in comparison to onshore wind farms due to higher turbine maintenance, high logistics costs, and lack of skilled manpower. Offshore wind farms accounted for 8.2% of the total wind O&M market in 2016 with a market size of $1.12 billion. It is estimated that offshore wind O&M will continue to grow to reach $5.04 billion, equating to an 18.4% share of the total wind power O&M market in 2025. Therefore, development of new and innovative O&M techniques for reducing expenditure is important in terms of overall cost efficiency for wind power producers and the economic feasibility of projects. Cost reduction in O&M can be achieved by increased reliability of components, optimized operation, better control over technical conditions, technical solutions, improved maintenance, and better strategies for reduced downtime in case of failure. The report discusses in brief some of the ongoing innovative O&M trends in the wind power industry.

Scope

• The report discusses in detail the emerging O&M trends in wind power sector through automation, data analytics, smart technology and artificial intelligence for effective maintenance of wind power assets (both offshore and onshore) with minimal human inteference resulting in increased power generation and reduced cost of wind power.

Reasons to buy

• To gain detailed insight of prevalent O&M trends in the wind power sector and how integration of automation and AI in O&M can incraese operational efficiency of wind turbines, and optimize resource utilization by bringing down O&M costs resulting in increased clean energy generation with reduced energy cost.