Developments in China and the United States are decreasing Europe’s lead in renewable energy. But if the European Union could harness the advantages and power of big data, it could increase output from wind energy by 20% as reported by DW.
Just last week, the International Energy Agency came out with some new figures that will make many people in the European renewable energy sector nervous.
The Paris-based intergovernmental organisation stated that while renewable generation is on the rise worldwide, Europe’s lead in the sector is decreasing. The report also states policy uncertainty as the main cause of this as compared to the more solid policy backing now in place in China, United States, India and Mexico. The many policy changes in Europe are making investors hold back on their investments.
The European Union at present, has the largest installed and connected wind and solar capacity in the world as stated by the European Environment Agency. This has been the result of big investments, from 2005 up to 2012, Europe was the leader in investing in renewables.
In 2013, China has surpassed the EU as did the United States did a few years later. But there is one way the EU can get back on the renewables fast track without relying on policy support and without relying on deployment of new hardware and other equipment. In fact, as many experts believe, Europe is sitting on the key to its potential success right now.
People in the renewable energy industry are increasingly focusing on the so-called industrial internet as a way to enhance the efficiency of any existing equipment. The idea is to use existing big data, combined with new sensors in creating a system that can predict all possible future outcomes for renewable equipment. If you think of it, it’s basically a virtual grid.
Featured Image Credit: Paulo Valdivieso