Embracing Complexity in Energy Data for Solutions & Savings

Guest post by Rich Argentieri
President, NextEra Analytics

Rethink Your Path to Decarbonization
A wise academic once claimed “complexity is the key to simplicity” and that by “embracing the intricacies of a problem, we uncover the hidden path to its resolution.” We face a similar challenge when we’re looking at ways to make real progress against decarbonizations goals. To “see” opportunities, we need to expand the resolution of our data sets, capturing a more complete (some might say, complex) view of energy usage across the enterprise.

Today, organizations with multiple sites and asset types, disparate data sources and utility bills can find it difficult to generate a comprehensive view of energy and emissions. And all too often, projects to monitor progress against energy or decarbonization goals result in expansive, time consuming and high budget IT implementations. But if we take a step back for a moment, and consider the larger opportunity at hand, three key principles emerge that can guide us to a more effective approach to decarbonization: increase data resolution, break current paradigms, and avoid IT pitfalls.

Unleashing the Power of High-Resolution Data
As the world’s largest producer of energy from the wind and sun, NextEra Energy recognizes that increasing data resolution was a precursor to many major breakthroughs in human history, and the twenty-first century’s decarbonization efforts will be no exception. To achieve the necessary scale of data resolution, paradigms of thought-influencing technology advancement and business practice must be reimagined.

Shifting Paradigms, Shaping the Future
As sets of rules that help us filter information to make quick decisions and keep society running, paradigms are frequently helpful. However, paradigms can pose challenges when strategizing for lofty, out-sized goals. Doubt in the viability of decarbonization solutions and disbelief that they could be economical, reflect these paradigms and the need to leave them behind.

Streamlining to Avoid IT Pitfalls
One of the most common IT pitfalls is related to overcomplication. We must streamline implementations by keeping the goal in mind and avoiding work that does not serve the ultimate purpose of the business initiative. Leaving messy IT projects behind will help launch us into an efficient and sustainable future – and help us more effectively tackle the initiatives that support our decarbonization goals.

Embracing Data-Driven Strategies
In our pursuit of a more sustainable future, data-driven strategies play a crucial role. Tools such as NextEra 360 Connect can be instrumental in helping to maximize data resolution and identify opportunities for energy generation and usage with the aid of AI. This highlights the broader potential of how strategic, data-driven interventions can lead to improved performance and significant savings.

At NextEra Energy Resources, we have been proactive in managing our renewable energy assets and tracking emissions and energy trading strategies. This has not only helped in optimizing our own operations but has also enabled us to assist our clients in efficiently managing their energy needs.

We believe that embracing complexity can lead to innovative simplicity. By increasing resolution and changing paradigms, big problems become manageable, yielding improved financials and sustainability. Our customers are turning data into action to realize real savings:

• One of the world’s largest banks implemented energy trading strategies supporting their 17% reduction in Scope 1 and 2 emissions and reducing their costs by $1.25 / MWh
• A leading US university optimized a hybrid solar and battery storage site to achieve their 100% renewable energy goal and generate over $5 million in savings in six months
• A regional bank implemented smart HVAC set points and achieved
  • 8% savings in the first 3 months of operation
  • 10-15% forecasted savings during the summer months
  • 8% or 10,000 pounds of carbon emission reduction

Ultimately, our journey towards clean energy relies on our willingness to chart a new course, break free from constraining paradigms, and harness the transformative power of data. To explore how NextEra 360 Connect can guide your organization along this journey, please reach out to us at nextera-360@info.nexteraenergy.com.

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Sources

1. Participants – United Nations Global Compact
2. Companies Taking Action – Science Based Targets
3. Use AI to Measure Emissions – Exhaustively, Accurately, and Frequently – Boston Consulting Group
4. Report: 88% of IT Leaders Face Integration Challenges That Slow Digital Transformation – Venture Beat
5. Delivering Large-Scale IT Projects On Time, On Budget and On Value – McKinsey Digital