One of the biggest challenges facing utility companies is the need to reduce costs and operational risks while maximizing revenue. Utility projects in the power generation space are undergoing rapid digital acceleration, which means groups are looking for technologies that can help reduce construction costs.
This is an issue virtually every utility leader is concerned with, as well as their boards of directors and finance departments. In addition to modernizing manual processes with digital methods, technology solutions can also lower costs and boost revenue.
Typically, high-cost areas of construction projects include the human workforce, infrastructure repairs, construction project delays and loss of materials. Digital construction technology empowers utility leaders with the advanced tools they need to solve these challenges. Digital Construction Management (DCM) platforms, such as Locusview, can solve these problems by replacing manual as-builts with a digital as-builting solution.
Utilities may employ hundreds of internal surveyors to create as-builts. An advanced digital construction platform can do this digitally and with existing crews, without the need for third-party surveying crews. By removing these bottlenecks in the construction process, utilities can install more assets faster, and that has a direct impact on costs and earnings.
Updating aging infrastructures may incur higher costs initially, but it can achieve long-term cost savings. Over the last few years, the traditional method of energy distribution has evolved. Consumer demand for new energy sources and green technology—combined with energy leaders’ need for more reliable and efficient energy solutions—is driving change. One of those changes is rising demand for Distributed Energy Resources (DERs).
DERs improve reliability by deploying alternative energy sources such as wind or solar. This helps balance the electric grid and better manage energy consumption during peak periods. DERs also reduce long-term costs by alleviating pressure on utilities to build more power stations.
—Shahar Levi is co-founder and CEO of Locusview. The company’s Digital Construction Management platform manages the entire infrastructure construction process for utilities, from planning to execution and close-out.