New revenue streams can also be created through trading and demand response schemes. For multiple sites, assets can be connected through a virtual power plant for broader control. Companies can also minimize operations during peak load times and reduce the need for grid purchases. Also, more renewables can be integrated to minimize the use of costly CO2-emitting fossil fuels without risking reliability or grid stability.
There is also an option to increase revenues by participating in energy markets and demand response schemes.
ABB’s competitive advantage is our unparalleled experience in digital applications. As the top global DCS supplier to the power industry, we work closely with customers to leverage digital solutions to help solve their challenges. Our engagements have been in mature markets that must find ways to address new challenges associated with:
ABB prioritizes software quality as part of our “evolution-without-obsolescence” framework. We were early adopters of international cyber security standards. In this transformational time, we must move beyond transactional relationships to collaborative relationships. ABB invests in identifying needs, challenges, and success criteria, and collaboratively develops business cases supporting digital investments.