The demands of the Paris climate change agreement can only be met if greater levels of digitalisation are implemented to transition the global energy sector into one fuelled by renewables, according to asset management service provider Kaiserwetter.
The German company has said that finding a “financially viable” means of implementing the COP21 and subsequent COP22 proposals to limit climate change to below two degrees centigrade is only possible with the help of digitalisation platforms to maximise return on investment.
Hanno Schoklitsch, chief executive of Kaiserwetter, said: “The worldwide transformation towards renewable energies can only be achieved with the help of digitalization and the Internet of Things (IoT).
“The use of digital technology will be a major contribution to the COP22 commitment to finding a financially viable way of implementing the Paris Climate Agreement objectives in the near future. Investments in renewable energies, while using the IoT and big data analytics, offer unexpected opportunities of boosting the expansion of renewable energies on a global scale.”
Digital tools like Kaiserwetter’s Aristoteles, which manages renewable energy portfolios from an executive level perspective through a cloud combining technical and financial data, are expected to play a significant part in the future decarbonised, decentralised and digitalised energy system.
The market for these tools is rapidly growing, with technology giants Microsoft, Accenture and Envision today launching a new alliance designed to accelerate the pace of distributed renewable energy in a ‘smart city’ environment.