The warning: Sky-high electricity prices for years to come


Nokia: Digital technology has green potential

Published: October 25, 2022, 10:00 a.m. Updated: October 26, 2022, 09:59 a.m.With skyrocketing electricity prices and an uneasy political world situation, sustainability and optimized renewable energy need to be prioritized. That’s what Peter Wennerström, head of Sweden at Nokia, thinks. – To find a balance, the world economy needs to be digitized and it’s up to companies to make technology a force for good, he says. In just ten years, the production of solar energy has gone from being the most expensive to the cheapest renewable energy source. Nevertheless, it has not reached its full potential, according to Peter Wennerström, head of Sweden at Nokia. He states that it is possible to optimize the production and distribution of renewable energy to develop the market’s sustainable energy sources – by digitizing the processes. – One of the biggest challenges that suppliers of renewable energy sources face is finding a balance between supply and demand. In particular, the supply of solar, wind and hydro power can be difficult to forecast, which can lead to unstable systems. Here he believes that digital connections can become catalysts for making accessibility more efficient, through connected power grids that can adapt in real time with AI support. AI and ML can calculate the amount of electricity to be generated at the right time, to the right place, which maximizes distribution and lowers costs. – Such a system not only leads to reduced costs for producers and customers, it also benefits the environment as only the amount electricity that is actually needed is generated. The Siemens Campus in Vienna is a good example of how it is possible to succeed with such an implementation. With the help of Nokia, Siemens has digitized a local microgrid that connects around 1,000 data points from 34 different devices. These communicate in real time and thus control how much solar energy is generated, which optimizes its use. – This system alone contributes to saving 200 tons of carbon dioxide each year. By applying the same method to the 14 million industrial facilities that exist in the world, a huge impact on carbon dioxide emissions can take place. Today, only 30 percent of the world economy is digital, which means that 70 percent has the potential to be digitized. Not only energy production, but all types of, for example, industrial, logistics and production processes, can be addressed. – Digitization and connectivity solutions are crucial to globally solving the environmental, social and economic problems that society is facing today. The green wave requires digitization and digitization requires connectivity. Sustainability is an important part of Nokia’s strategy and vision. We want to minimize our own environmental impact and at the same time maximize how our products and solutions can enable sustainable solutions for our customers. Then we can maximize our positive impact on society with the support of responsible, sustainable and ethical business methods, concludes Peter Wennerström. About NokiaAt Nokia, we create technology that helps the world act together. We work with innovation and technical leadership within mobile, fixed and cloud-based networks. We create value through intellectual property rights and long-term research, led by Nokia Bell Labs. By adhering to high standards of privacy and security, we help build the capacity required to create a more productive, sustainable and inclusive world. Read more about Nokia here This article is produced by Brand Studio in collaboration with Nokia and is not an article of Dagens industri

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