GE Power & Water Unveils New Central Generation Plant That Will Account For 95% Of Energy Mix In 2025

GE GE today announced Digital Power Plant, a revolutionary software and hardware solution that creates a virtual ‘'Digital Twin'' of an entire industrial power plant complex. Powered by GE's Predix platform, the operating system of the Industrial Internet, "Digital Twin" is a collection of physics-based methods and digital technologies that are used to model the present state of every asset in a Digital Power Plant or a Digital Wind Farm. This transformational technology lets utilities monitor and manage every aspect of the power generation ecosystem to generate electricity as cleanly, efficiently and securely as the global economy and environment now demand with unprecedented real-time control and precision. "The world is expected to need 50 percent more power over the next 20 years, including providing electricity for the 1.3 billion people without access today," said Steve Bolze, president and CEO of GE Power & Water. "At the same time, the electricity industry is undergoing a radical digital transformation unlocking whole new opportunities. Imagine the benefits to our global economy and society when the power source of the world's economy, electricity, is as digitally connected and efficient as the modern technologies dependent on that electrical power." Central generation of energy will account for up to 95 percent of the energy mix by 2025 and as a result GE's Digital Power Plant, will enable GE's utility and industrial customers to harness information technologies to optimize the underlying infrastructure that generates electricity, in a manner that will transform the way electricity is generated and managed worldwide, helping minimize the impact of power production and consumption to the climate. The expected benefits include up to $230 million for a new combined-cycle gas power plant and up to $50 million for an existing combined-cycle gas-powered plant in savings. Across the power industry today this will equate to up to $75 billion in savings.