Using Data Management Systems to Resolve Asia’s Energy Trilemma
(Room Garuda 7B, 1st Floor)
19 Sep 18
4:30 PM
-
6:00 PM
Tracks:
TRACK F - Capitalizing on Digitalization
Asia’s primary energy challenge is to support robust economic growth while meeting its sustainability targets as committed in the UN Paris Agreement. The International Energy Agency has forecasted 80% energy demand growth between 2015-40, with strong economic growth and poor regional coordination cited as an underlying cause for a low share of renewable energy, with renewable energy growth significantly lagging demand growth in most Asian countries. Countries in Asia need to support economic growth while simultaneously meeting their climate commitments made to the UN Paris Agreement. This will prove challenging unless governments address their energy trilemma of effective competition to improve affordability, future generation adequacy to provide supply security and reliability, and increasing energy sustainability to meet environmental targets and address climate change. The provision of ‘big data’ through data management systems can assist countries in resolving their energy trilemma. This paper will evaluate the benefits of smart technology, pre-emptive maintenance based on real-time sensors and artificial intelligence, and trading optimization technology to improve reactions to cost reflective price and demand signals. Finally, the paper will assess the lessons from Europe in the utilization of big data, and ask the question: Is Europe a data technology role model for Asia?