China Electric Power Industry Digitalization Research Report (with report)

Introduction

Carbon neutrality and carbon peaking

Jeremy Rifkin believes that “industrial revolutions in history are the combination of communication technology and energy technology, which leads to a major economic transformation”. If communication technology is the central nervous system of social development, energy is the blood that continuously feeds the process of transforming nature’s gifts into goods and services. The combination of coal and steam engines allows machine production to replace handmade textiles; the combination of coal, oil and internal combustion engines promotes large-scale and modern machine production; now “renewable energy + new technology” has become the engine driving the fourth industrial revolution.

However, environmental issues such as energy security and the greenhouse effect have always been hidden dangers that plague the sustainable development of human society. Once the two-carbon strategy was put forward, countries actively developed a low-carbon economy, and improved the efficiency of resource and energy use by changing production methods and adjusting industrial structures. Protect the environment.

China is the country with the largest carbon emissions and the largest installed capacity of new energy. During the “14th Five-Year Plan” period, a new round of energy reform oriented towards low-carbon sustainable development has begun. Building a green and low-carbon circular development economic system, improving energy utilization efficiency, increasing the proportion of non-fossil energy consumption, reducing carbon dioxide emissions, and enhancing the carbon sink capacity of the ecosystem have become the core goals of my country’s energy industry development.

Power companies and digital transformation

The power industry is the key to carbon emission reduction, and the digitization of power is an important part of promoting carbon peaking and carbon neutrality goals. In the traditional power industry, the nodes of “generating-transmission-transforming-distribution-utilization” are isolated from each other and difficult to coordinate, resulting in low power production efficiency and difficult to generate high economic benefits. The integration of 5G, AI, big data, IoT and other digital technologies with daily production, operation, management and other links can not only effectively help power companies reduce the redundancy of each production link, but also build a safe, controllable, green, low-carbon, efficient and agile system. Comprehensive energy infrastructure will ultimately realize the use of green energy; at the same time, it has also become a breakthrough in the context of changes in energy production structure, storage form, sharing mechanism and consumption pattern.

Research Scope and Background

Electricity digitization is an effective means to achieve the dual carbon goal. On the power generation side, this report focuses on five major power generation groups and four small power generation groups and local power generation giants. It aims to explore how power companies can realize the transformation from power production, business operations to ( end user) service chain transformation. The transmission and distribution side takes the State Grid and China Southern Power Grid as the main research subjects, discusses the key points and typical practices of their construction of smart grid in stages, and draws a panorama of my country’s smart grid.

market insight

Market scale: The “14th Five-Year Plan” has clarified the construction goals of smart grids and smart power plants. The investment needs of the two power grids and power generation groups in digital platforms, IoT platforms and scenario-based application software will continue to be released. According to iResearch’s modeling estimates, the market size of China’s power digital core software and services in 2021 will be 41.4 billion yuan, with a compound growth rate of 19.3% from 2021 to 2025. The market size is expected to reach 83.9 billion yuan in 2025.

Manufacturer strategy: The power digitalization market is relatively fragmented, with many players (mainly research institutes and information construction units within the power system, professional power digitalization manufacturers, Internet manufacturers, and comprehensive software manufacturers), and they are all specialized and subdivided in their respective fields. The field has been deeply cultivated for many years. As the demand for dual-carbon and new power system construction continues to grow, power companies are required to upgrade. In addition to strong understanding of power business, suppliers’ full-chain service capabilities are equally important.

Transformation status

The digitalization of electric power enterprises started early, and the group enterprises have now built a complete digital base to expand to scenario-based applications such as production, operation, and services, aiming to promote the transformation of electric power enterprises from a single power supply to a comprehensive energy supply, and to innovate power production, Supply and sales models, and grasp the “dominance” of the market. The transformation of local power enterprises varies in pace. On the one hand, the focus of their construction is to increase investment in the field of digital platforms/middle platforms. With the help of digital technology and a unified data platform, it promotes the efficient integration of energy flow, information flow and data flow, and accelerates the internal Management innovation and reform of external full-chain business integration and process reengineering; on the other hand, adhere to the basic framework and key methods of transformation, promote the full development of digitalization in an orderly manner, and promote efficient cross-level, cross-system, cross-department, and cross-business collaboration to achieve Optimal allocation of resources.

Trends and Outlook

With the further implementation of policies and measures such as “Double Carbon”, “Industry Digitization” and “East Numbers and West Calculations”, power companies not only need to aim for green and clean power supply, and steadily promote the construction of new power systems; they also need to focus on user experience. As the core, it will continue to meet its increasingly diversified electricity demand and realize the innovation of business content and mode. In order to achieve this goal, power companies need to deepen the combination of cutting-edge digital technology and power science and technology to achieve the goal of “machines instead of manpower”; in addition, companies need to cooperate with cross-border entities to create a smart power ecosystem and empower digital economic development.

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