At what “speed” is your digitalization effort? There is no dispute, digitalization will play a key role in improving the sustainability of renewable energy sources through efficiency. The question remains – Where are you? While the industry has embraced the importance, water cooler conversations continue - How to monetize the true value of the data from digitalization?
The webinar outlines:
• How digitalization is applied across all corporate business units: asset management, operations management, risk management and supply chain management to reduce the cost of energy by up to 13%
• An industry operator case study on monetizing your digitalization efforts and understand the true ROI
• A digitalization value statement to enable operations management can provide a short-term watch list from 0-12 months enabling early detection prior to consequential damage beyond an operator's current capabilities – attributes to 2-3% of cost avoidance or cost savings.
5. SentientScienceCorp.-Proprietary/PrivateLevel1
Sentient Science Data Fusion - Differentiation
Material Science Models
Data Science Models
Data Fusion
MODELS
12-18 months
COMPONENT
REMOVAL
DAMAGE
INITIATION
3 yrs Life 5 yrs Life +
time
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
Portfolio Manager, Purchasing Manager
Asset
Watchlists
Risk
Forecasts
Component
Watchlists
Site Manager
Asset
Watchlists
Risk Manager
Risk
Forecasts
VALUE
8. SentientScienceCorp.-Proprietary/PrivateLevel1
International Energy Agency 2017: Value of Digitalization
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
Optimize
O&M
Costs
1. IEA claims that the overall savings could be in the
order of USD 80 billion per year from 2016-40.
2. One of the most important benefits of digitalization
is extending the operational lifetime of power
plants and network components, through
improved maintenance and reduced physical
stresses on the equipment.
3. If the lifetime of all the power assets in the world
were extended by five years, close to USD 1.3
trillion of cumulative investment could be deferred
over 2016-40. On average, investment in power
plants would be reduced by USD 34 billion per
year and that in networks by USD 20 billion per
year.
Increase
Network
Efficiencies
Reduce
Unplanned
Outages
Life Extension
of Assets
Improved
O&M
Source: http://www.iea.org/digital/#section-4
9. SentientScienceCorp.-Proprietary/PrivateLevel1
New
Development
• Win new deals
• Competitive PPA biding
• Buy on Life & Price
• Optimize suppler choices
Business Strategy
• Optimal Governance by digitizing wind fleets
• Integration with existing MAXIMO and other IT systems
• Optimize Key Performance Indicators to lower Cost of Energy
• Benchmark performance against industry competitors
Operations Management
• Lower the cost of asset operations
• Reduce technical visits due to bundling & false alarms
• Reduce costs from scheduling technician time and
equipment
Asset Management
• 18 month rolling budgets and forecasts
• Avoid down-tower rebuilds with increased up-tower
replacements
• Reduce mobilization cost by bundling crane visits
• Avoid downtime with inventory available
Risk Management
• Reduce insurance and extended warranty
costs
• Reduce annual gearbox replacements with
preventative O&M recommendations
• Reduce long-term gearbox O&M cost with
“right first time” procurement
• Reduce insurance premium from risk
management
Supply Chain
• Improve terms and costs with key suppliers
• Reduce risk of exceeding O&M budgeting
• Reduce inventory storage required to mitigate failure risk
• Reduce unit cost of gearbox purchases with long-term
agreements
DigitalClone®
Reducing COE by
13% of Revenues
6 Business Areas to Reduce Costs with Digitalization
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
11. SentientScienceCorp.-Proprietary/PrivateLevel1
Savings of Revenue
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
2018 2019 2020 2021 2022
Total Assets under DCL Contract 200 600 1000 1400 1800
Avergae MW - Per Asset 1.56 1.56 1.56 1.56 1.56
Total MW 312 936 1560 2184 2808
Price per MWh - Power Purchase
Agreement (PPA)
$ 36.86 $ 36.86 $ 36.86 $ 36.86 $ 36.86
Price per MWh from Production Tax
Credit (PTC)
$ 24.25 $ 24.25 $ 24.25 $ 24.25 $ 24.25
Average Capacity Factor 38% 38% 38% 38% 38%
Average Turbine Availability 96.9% 96.9% 96.9% 96.9% 96.9%
Per Turbine - Daily Production
Revenue
$ 848 $ 848 $ 848 $ 848 $ 848
Per Turbine - Annual Revenue $ 309,525 $ 309,525 $ 309,525 $ 309,525 $ 309,525
Total Assets - Revenue $ 61,905,067 $ 185,715,202 $309,525,337 $ 433,335,471 $ 557,145,606
5% Savings in O&M, per IEA org. $ 3,095,253 $ 9,285,760 $ 15,476,267 $ 21,666,774 $ 27,857,280
13% Savings - Sentient Science DCL
through all business units
$ 8,047,659 $ 24,142,976 $ 40,238,294 $ 56,333,611 $ 72,428,929
Savings captured in BVA $ 1,060,151 $ 3,802,679 $ 7,486,222 $ 12,247,866 $ 18,228,702
% of Savings Capture, per IEA org vs
BVA
34.3% 41.0% 48.4% 56.5% 65.4%
DESCRIPTION
PRODUCTION&FINANCIAL
12. SentientScienceCorp.-Proprietary/PrivateLevel1
Business Value Assessment Summary
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
Year 2018 2019 2020 2021 2022
TotalAssets in DCL 200 600 1000 1400 1800
Total Savings Per Deployment 1,060,151$ 3,802,679$ 7,486,222$ 12,247,866$ 18,228,702$
Savings perAsset 5,301$ 6,338$ 7,486$ 8,748$ 10,127$
Savings perMW 2,718$ 3,250$ 3,839$ 4,486$ 5,193$
TotalFleetDigitalClone Live Price: 195,000$ 585,000$ 975,000$ 1,365,000$ 1,755,000$
ROI Ratio: 4.4 5.5 6.7 8.0 9.4
Selecting "Best" LifeX Action: Choosing the correct action
to avoid Future Cost of "Right First Time" Replacement
(Matching correct component to Asset age,align remaining
useful life)
$ 491,216 $ 1,600,284 $ 2,882,258 $ 4,342,100 $ 5,984,880
Short-term Watchlist(0-12mo): Early Detection priorto
consequential damage,beyond operatorcurrent
capabilities
535,500$ 2,076,452$ 4,347,790$ 7,477,751$ 11,598,868$
Short-term Watchlist(0-12mo): LostEnergy Per Asset -
Reduce Downtime,Ensure Resource is Available forChange-
Outs - (Manpower, Parts,Tooling,Equipment)
33,435$ 125,943$ 256,174$ 428,015$ 644,955$
Example of Value Statements
Example:
13. SentientScienceCorp.-Proprietary/PrivateLevel1
Business Value Assessment – Assumptions
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
2018 2019 2020 2021 2022
Total Assets under DCL Contract 200 600 1000 1400 1800
Avergae MW - Per Asset 1.95 1.95 1.95 1.95 1.95
Average Wind Turbine Capacity Factor 45% 45% 45% 45% 45%
Price per MWh - Power Purchase Agreement (PPA) $ 38.00 $ 38.00 $ 38.00 $ 38.00 $ 38.00
Price per MWh from Production Tax Credit (PTC) $ 25.00 $ 25.00 $ 25.00 $ 25.00 $ 25.00
Cost of Capital 5.50% 5.50% 5.50% 5.50% 5.50%
Average Per Event Downtime (Days) - Up-tower 4 4 4 4 4
Average Per Event Downtime (Days) - Full GBX Replacement 20 20 20 20 20
Average Annual GBX Failure Rates 7.5% 7.4% 7.2% 7.1% 6.9%
Up-Tower Repair Frequency 3.0% 2.9% 2.9% 2.8% 2.8%
Complete GBX Replacement Frequency 4.5% 4.4% 4.3% 4.2% 4.2%
Average Per Event Up-Tower Repair Costs $ 10,000 $ 10,500 $ 11,025 $ 11,576 $ 12,155
Average Cost of GBX, including manpower and crane
mobilization $ 350,000 $ 360,500 $ 371,315 $ 382,454 $ 393,928
Average Per Asset, Potential Savings $ 340,000 $ 350,000 $ 360,290 $ 370,878 $ 381,773
% of increased uptower repairs to downtower refurbishment 35% 41% 47% 52% 58%
Sentient Capture Rate 50% 55% 60% 65% 70%
GEARBOXEVENT
PRODUCTION&
FINANCIAL
DESCRIPTION
Example:
14. SentientScienceCorp.-Proprietary/PrivateLevel1
Long Term Service Agreement – Business Value
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
Year 2028 2029 2030 2031 2032
# of Assets underLong term service agreement LTSA 330 330 330
LTSA Total Cost - Today (per asset peryear) $ 45,000 $ 54,000 $ 64,800
LTSA Estimated costs today peryear $ 14,850,000 $ 17,820,000 $ 21,384,000
LTSA Estimated costs at time of renewal peryear $ 17,077,500 $ 20,493,000 $ 24,591,600
NPV LTSA Cost years 10-20 $ 80,955,469 $ 97,146,563 $ 116,575,875
# of Assets under Long term service agreement LTSA renewal 330 330 330
% of LTSA negotiated savings by having historical Data and
estimated forward risk
10.0% 10.0% 10.0%
Estimated LTSA negotiated savings by having historical Data and
estimated forward risk
$ 8,095,547 $ 9,714,656 $ 11,657,588
Weighted Average Cost of Capital 5% 5% 5%
Cost of Monitoring Fleet per year- (Digital Clone) $ 321,750 $ 321,750 $ 321,750
NPV Cost of Monitoring Fleet over yrs 1-10 $ 2,608,692 $ 2,608,692 $ 2,608,692
Total Cost Savings over yrs 1-10 $ 5,486,855 $ 7,105,965 $ 9,048,896
Annual Cost Savings 548,686$ 710,596$ 904,890$
Total Cost Savings 21,641,716$
Medium/Long TermWatchlist (0-48mo): Cost Savings - Long Term Service Agreement Negotiation
Align corporate objectives to bid or manage LTSA agreementsExample:
15. SentientScienceCorp.-Proprietary/PrivateLevel1
The Economics of Using Digitalization to Reduce the COE by 13% of Revenues
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
01
Operations Management
Understand the current
health of your asset to
reduce planned and
unplanned maintenance
activities.
02
Asset Management
Optimize Asset Portfolio to
reduce costs and increase
AEP.
03
Supply Chain Management
Improved planning and
scheduling for critical part-
replacements and long-term
agreements with suppliers
for major systems within the
turbine.
04
Risk Management
Reduce extended warranty
costs and insurance
premiums.
16. SentientScienceCorp.-Proprietary/PrivateLevel1
Our primary business goal is LIFE EXTENSION, In order to accomplish this our software focuses
on three areas of inter-related value:
Inter-related Value:
1. Verify Asset Life State... Identification of damage on units with no additional sensoring (e.g.:
CMS, Oil sensors, …). Helps primarily O&M. Technological approach: Data Science & Material
Science.
2. Long Term Forecasting Term of <36 Months helps primarily Asset Management, Procurement
& Planning. Term of >36 Months helps primarily Risk & Insurance Management.
3. Life comparisons using computational testing – Leverage computational testing to support
physical testing (vs. year long testing on limited samples) to greatly improve understanding of
sensitivity of life to loading, mechanical design and material quality factors.
Life Extension to Reduce the Cost of Energy
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
18. SentientScienceCorp.-Proprietary/PrivateLevel1
Case Study: Operations Management
By evaluating the lost energy per asset, the operator was able to improve efficiency of manpower
by ensuring the availability of the replacement and the right tools and equipment were in place
when the repairs were done up-tower. Across a fleet, annual savings of $600,000 to $1.9 million
can be achieved with early detection prior to consequential damage and through the optimization
of maintenance activities, man power efficiency and improved safety of technicians.
Business Challenge: Correctives that occur in high wind
conditions have a significant impact on use of
operational manpower
Component(s): Intermediate Pinion Bearing
Case Study: In visual representation to the right, an
intermediate pinion bearing with a predicted life of 16.6
years showed signs of damage. It was recommended that
the additive solution be applied to the bearing and gear
to extend life until an up-tower replacement could be
performed during a low wind productivity period to
optimize return on investment (ROI).
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
19. SentientScienceCorp.-Proprietary/PrivateLevel1
#1 Value for Operations Management
Reduced planned and unplanned maintenance activities, work-orders and
costs
Gearboxes projected to fail that are not on the current watchlist
Identification of gearboxes with damage under warranty that can be used for
post warranty negotiations
Improve failure prognostics reporting over existing internal capabilities
Improve quality and consistency of failure reporting and action
Calculated remaining useful life of a gearbox based on uprating
List of critical subcomponents causing a reduction in life and replacement
options
Strengthen the accuracy of your watch list(s)
Logistics and service effectiveness
Manage for serviceability
Crane & service optimization
BOM management
Operations
Management
$ 1 MW/hr.
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
21. SentientScienceCorp.-Proprietary/PrivateLevel1
Case Study: Asset Management
Business Challenge: Optimize Asset Portfolio to reduce cost and increase AEP
Component(s): High Speed Shaft Bearing, Low Speed Ring Gear
Case Study Description: Sentient’s DigitalClone software accurately predicted damage to the
inbound High-Speed Shaft Bearing (HSS) and Planet Stage, Low Speed Ring Gear (LSR-GR). Both were
expected to fail at 24 months and 36 months, respectively. If the operator allowed the asset to
continue operation with no repair, complete gearbox replacement would have been required.
Therefore a defined savings of ~$260,000 was recognized.
The OEM recommended replacing the HSS bearing for 12 months additional life and to push the full
gearbox replacement out 24-months’ time. The cost would have been ~$6,000 upfront, for a savings
of $254,000 in the current budget year. However, within 2 years the impact of the ring gear failure
would be at the surface, and a full swap out of the gearbox would be needed.
Using computational testing, the software demonstrated seven different options of asset actions,
each with different ROIs. It was found that the most valuable action would be to replace the HSS
bearing with a higher quality performance bearing and to apply a surface treatment for the life
extension of the ring-gear bearing. A combined cost of ~$40,000 and life extension of an additional
36 months, predicted a Net Present Value (NPV) of $221,000 savings.
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
22. SentientScienceCorp.-Proprietary/PrivateLevel1
#2 Value for Asset Management
Life extension options for both in and out of warranty assets - including
repowered assets
Multi-year rolling O&M forecasting by assets, site, fleet and energy production
Impact of uprating
Multiyear subcomponent forecast & budgeting and ROI calculations based on
3D watchlist
Supplier and component optimization for longer life
Bulk buying agreement based on multi-year component replacement forecasts
Reduced planned and unplanned maintenance activities, work-orders and costs
Asset Comparison (Vendor selection assistance ) - Buy on Life & price to
purchase replacements with higest ROI
Buy vs “Power by the Hour” options
Asset
Management
$ 4 MW/hr.
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
23. SentientScienceCorp.-Proprietary/PrivateLevel1
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
Supply Chain
Management
Improved planning and scheduling for critical part-
replacements and long-term agreements with
suppliers for major systems within the turbine.
03
24. SentientScienceCorp.-Proprietary/PrivateLevel1
Case Study: Supply Chain Management
Business Challenge: Supply chain optimization, improved efficiencies and
planning directly impacts the improvement of risk management of an
organization.
Component(s): Gearbox Assemblies
Case Study: DigitalClone evaluated more than 100 field gearboxes from a
universal OEM and uncovered a risk of a poor-quality material from
bearings manufactured in a specific year. It was recommended that those
bearings be exchanged with an alternative option to prevent future high
failure rates of this specific gearbox type in the fleet. A supplier trade off
study was completed to assess the impact of varying supplier choices.
In another example, DigitalClone demonstrated the return on investment
of picking gearbox OEMs for future development. Based on the failure
risks and estimated costs, Figure 2 shows supplier 3 is optimal with a
failure rate of less than 50% over 20 years as opposed to supplier 4, which
shows a 98% failure rate over 20 years. The financial implications of
choosing supplier 4 would be detrimental to the profitability of the site.
Assembly/System
Lifecycle Prediction
Materials
Figure 2
Component
Lifecycle Prediction
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
25. SentientScienceCorp.-Proprietary/PrivateLevel1
#3 Value for Supply Chain Management
Multi-year inventory forecasts for major and minor
correctives based on failure rates
Better T&Cs with Suppliers
Reduce variability between suppliers
Know the life of the supplier offering
Reduced inventory and supply carrying costs
less inventory, JIT, shorter lead times
Place inventory where and when needed
Reduce T&C based on long term forecasting
Decide whether to Increase or decrease number of suppliers
Definition of serial failure of subcomponents out of warranty
Work with suppliers and remanufacturing resources to
improve fielded products – Additives/Coatings
Supply
Chain
$ 1 MW/hr.
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
27. SentientScienceCorp.-Proprietary/PrivateLevel1
Risk Management
Business Challenge: Loss of rejected insurance claims through additional requirements from
insurance carrier.
Component(s): Gearbox Assemblies
Case Study Description: Root cause analysis becomes important to understand when damage
initiated, why the failure occurred, and how to evaluate life extension actions that mitigate repeat
failures in the future.
Insurance providers have rejected insurance claims in the past when inadequate data is provided
that supports the root cause of the failure. When a claim is rejected the operator is required to pay
the full amount of the exchange, which can total more than $350,000 for each gearbox
replacement as opposed to a $100,000 deductible. A customer could see up to 5% or more of their
insurance claims rejected in any given year. With materials science, this risk could be eliminated,
saving on average $20,000 per failure, saving on average between $125,000 to $450,000 annually
as additional assets come online for digital monitoring.
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
28. SentientScienceCorp.-Proprietary/PrivateLevel1
#4 Value for Risk Management
Reduced extended warranty costs
Failure rates and data used to reduce or isolate assets that require coverage
Reducing litigation/arbitration costs
Reduced insurance premiums
Insurance on components vs. blanket coverage
Better financing terms based on better knowledge of fleet
health and longevity
Improved prediction ability with a better insight into long term health
Serial failure of components under warranty
RCA Reports to identify who pays
Life extension beyond Proforma
Risk
Management
$ 3 MW/hr.
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
29. SentientScienceCorp.-Proprietary/PrivateLevel1
Data Science – Sentient WayOperationalizing the selection of "BEST" Life Extension Option for an Asset
DigitalClone LifeX Actions enable
life extension decisions based on
optimal financial returns
Life Extension
Asset Actions
Operating Conditions,
Maintenance Events, &
Configuration
Asset Life
State
Informed
LifeX
Decision
Probabilistic
Financial
Forecasts
Site
Financials
Risk-Based
Scenario
Assessments
Supplier
Options
Customer Factors
for Decision-
making
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
30. SentientScienceCorp.-Proprietary/PrivateLevel1
BLADES
Vision:
• Smart Drone inspections
• Time to next damage state
• Life predictions
Today:
• Life predictions: initial models deployed in
December w/ Bladena. Validation in progress.
PITCH BEARINGS
Vision:
• Short Term Predictions (0-12mos)
• Long Term Predictions (>12mos)
• Time to next damage state
• Life Extension Recommendations
Today:
• Model development in progress [Internal]
GEARBOXES + OIL SENSOR
Vision:
• DCL gearbox lifing to guide strategic
placement of oil sensors
• Integration to DigitalClone to improve short
term predictions (Time to next damage state)
Today:
• Static Oil report data ingested in LifeX State
GENERATORS
Vision:
• Short Term Predictions (0-12mos)
• Long Term Predictions (>12mos)
• Time to next damage state
• Life Extension Recommendations
Today:
• Model development in progress w/ Ingeteam
DigitalClone® Platform: Expanding component catalogue
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
31. SentientScienceCorp.-Proprietary/PrivateLevel1
Business Value Assessment Summary
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
Year 2018 2019 2020 2021 2022
TotalAssets in DCL 200 600 1000 1400 1800
Total Savings Per Deployment 1,060,151$ 3,802,679$ 7,486,222$ 12,247,866$ 18,228,702$
Savings perAsset 5,301$ 6,338$ 7,486$ 8,748$ 10,127$
Savings perMW 2,718$ 3,250$ 3,839$ 4,486$ 5,193$
TotalFleetDigitalClone Live Price: 195,000$ 585,000$ 975,000$ 1,365,000$ 1,755,000$
ROI Ratio: 4.4 5.5 6.7 8.0 9.4
Selecting "Best" LifeX Action: Choosing the correct action
to avoid Future Cost of "Right First Time" Replacement
(Matching correct component to Asset age,align remaining
useful life)
$ 491,216 $ 1,600,284 $ 2,882,258 $ 4,342,100 $ 5,984,880
Short-term Watchlist(0-12mo): Early Detection priorto
consequential damage,beyond operatorcurrent
capabilities
535,500$ 2,076,452$ 4,347,790$ 7,477,751$ 11,598,868$
Short-term Watchlist(0-12mo): LostEnergy Per Asset -
Reduce Downtime,Ensure Resource is Available forChange-
Outs - (Manpower, Parts,Tooling,Equipment)
33,435$ 125,943$ 256,174$ 428,015$ 644,955$
Example of Value Statements
32. SentientScienceCorp.-Proprietary/PrivateLevel1
Business Value Assessment – Detailed Value Statements
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
Rank Defined Value Statement Yr1 (Start) Yr2 Yr3 Yr4 Yr5 Category
1
Selecting "Best" Asset Action: Choosing the correct
asset action to avoid Future Cost of "Right First Time"
Replacement (Matching correct component to Asset
age,align remaining useful life)
$ 308,108 $ 1,456,288 $ 3,371,029 $ 3,218,663 $ 3,309,789
Asset Management
2
Short-term Watchlist (0-12mo): Early Detection prior
to consequential damage,beyond operator current
capabilities
$ 566,010 $ 2,198,212 $ 4,047,254 $ 3,143,653 $ 2,170,479
Asset Management
3
Medium Term Forecast (12-36mo): Reduction in
major component storage costs and increased cash
flow through improved forecasting 6-12mo
$ 53,031 $ 347,756 $ 998,520 $ 1,206,195 $ 1,394,464
Supply Chain
4
Medium Term Forecast (12-36mo): Savings from
Improved planning for critical parts replacement -
Long term agreements with suppliers, based on
forecast
$ 95,043 $ 499,533 $ 1,279,606 $ 1,459,516 $ 1,650,316
Supply Chain
5
Short-term Watchlist (0-12mo): Lost Energy Per Asset
- Reduce Downtime, Ensure Resource is Available for
Change-Outs - (Manpower,Parts,Tooling,Equipment)
$ 20,276 $ 103,621 $ 258,045 $ 286,092 $ 314,413
Operations Management
6
RCA: Increase Warranty Claim payout through root
cause analysis
$ 77,826 $ 362,529 $ 833,937 $ 863,250 $ 893,594
Risk Management
7
Reporting Functionality - Automated reporting,
repository for damage class,BOM management,DCL
platform
$ 27,091 $ 154,139 $ 309,439 $ 313,840 $ 318,336
Asset Management
MB Total Main Bearing Savings - Five Value Statements $ 35,034 $ 157,897 $ 374,840 $ 379,242 $ 401,682 Operations Management
Gearbox & Main Bearing Savings 1,182,420 5,279,975 11,472,671 10,870,451 10,453,073
Gen Total Generator Savings $ 80,263 $ 504,951 $ 1,221,570 $ 1,302,161 $ 1,398,174 Business Strategy
PB Total Pitch Bearing Savings $ 506,968 $ 4,049,019 $ 10,745,695 $ 12,403,885 $ 14,207,987 Business Strategy
34. SentientScienceCorp.-Proprietary/PrivateLevel1
Meet the Team!
1. September 25-28: WindEnergy Hamburg Global Summit I Hamburg, Germany
2. October 1-2: AWEA Finance & Investment Seminar – East I New York, NY
3. October 5: AWEA Finance & Investment Seminar – West I San Francisco, CA
4. October 16-17: AWEA Offshore Symposium I Washington, DC
5. October 17-19: China Windpower I Beijing, China
6. November 13-15: AWEA Fall Symposium I Colorado Springs, CO
Webinar: The Economics of Using Digitalization to Reduce the Cost of Energy by 13% of Revenues
Notas del editor
Hello Everyone! Welcome to today’s webinar on The Economics of Using Digitalizaiton to Reduce the Cost of Energy by 13% of Revenues.
I am going to give everyone a few minutes to login.
We’ll get started with the presentation.
My Name is Natalie Hils, I am the Director of Revenue Marketing here at Sentient.
I run all of our Demand Generation Marketing Programs that focus educating the market how to apply our software to reduce their costs and solve their current business challenges.
I’ve been running our webinar series for over 5 years now, so you can imagine we have a huge library of content covering a variety of different topics – I’m happy to send you
Please reach me if you have any specific questions.
I’ll be in contact with you next week to send you the recording of this presentation.
We like to encourage questions throughout the presentation to make the discussion more applicable to the folks on the line today.
I will review the questions with Keith at the end of the presentation.
Before we dive into the economics I wanted to provide a little history on Sentient Science. We weren't born out of Wind, we were born out of Aerospace in 2001.
We’ve completed more than 50 SBIR projects with the Department of Defense and the Department of Energy which was used to develop our software, DigitalClone
In 2010, NASA validated the software. Since then we’ve received several awards from the white house and others.
And most recently we’ve raised more than 30M of venture funding to grow the software across 3 global industries for energy and transportation
There is a lot of talk in the industry about how to extract value from the data that is being collected.
I want to tell you how Sentient differs from a typical big data solution on the market. -- We combine materials science with data science to understand the future health of the components and subscomponents with a specific asset.
With data science you are limited to recognizing value in certain areas – when you pair data science with materials science you are able to predict asset life much further out in time so that you can take action for life extension.
This opens new revenues streams – such as supply chain, inventory, and risk – keith will dive deeper on these areas later in the presentation
To relate this everyday life, I like to tell people that its similar to understanding the human genetic make up ---
For example, Typically you would go to the ER once a heart attack has already occurred. However, if you went to the cardiologist , you get a risk assessment for a future heart attack, which allows you to take actions to lower the risk of it ever occurring.
I wanted to say thank you to our customers – I see some of you are on the line today
2013 we commercialized DigitalClone and since then we’ve been working with a variety of different customers across the energy, and transportation markets -- both operators and OEMs
We’ve spent the past 5 years focused on digitalizing the wind turbine market
Here is a look at the various wind turbine models and gearboxes within our DigitalClone library today
We are able to quickly provide life extension actions for these specific models and are continuously adding new models
Reach me if you have these model types in our portfoilo
This report from the IEA demonstrates the potential savings from digitalization – they estimate 80 billion dollars per year from 2016-2040
They also recognize life extension as one of the most critical areas to achieve this savings
They stated that if the lifetime of all the power assets in the world were extend for just 5 years – there is around 1.3 trillion dollars of investment that could be deferred
They have highighted 4 particular areas to achieve this cost savings– O&M, network efficiencies, reduction of unplanned outages and life extension of assets.
At Sentient, we recognize 6 areas of potential cost savings across the entire value chain – which helps companies reduce the cost of energy by 13% of revenues
These 6 areas, many of which overlap with what the IEA recognizes are Operations management, asset management, business strategy, supply chain, risk management and new development. Keith will provide a detailed background on these areas later in the presentation.
Now I’d like to introduce Keith who will walk you through a case study on the cost savings potential
Keith Ver-geen: Vice President, Energy Operations at Sentient
Background: Keith has over 10 years of wind industry experience and a deep technical understanding of how turbines operate.
He’s worked as a lead technician, site supervisor, international fleet manager, and area operations manager.
The majority of his career has been spent at Clipper and EDF.
Sentient Focus: Keith joined the Sentient team as the Vice President of Energy Operations a little under a year ago.
He is working with our large wind operator customers globally to help identify specific initiatives to reduce costs across their entire value chain.
We strategically work with Owner/Operators to support their corporate initiatives through defined value categories. The table on the top is a summary of potential savings, per asset and ROI. The table below captures the value statements that align with focused programs for value savings.
Thank you that feedback was helpful and will allow us to tailor our presentation today.