Accelerating the renewable energy sector through Industry 4.0: Optimization opportunities in the digital revolution
The fourth industrial revolution introduced the concept of Industry 4.0, which refers to the digitalization of the modern world and the inclusion of digital industry in major industrial sectors. Within this context, we investigated how Industry 4.0 technologies could transform conventional factories...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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KeAi Communications Co., Ltd.
2023-06-01
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| Series: | International Journal of Innovation Studies |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2096248723000103 |
| _version_ | 1797823348598636544 |
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| author | Vaishnavi Pandey Anirbid Sircar Namrata Bist Krishna Solanki Kriti Yadav |
| author_facet | Vaishnavi Pandey Anirbid Sircar Namrata Bist Krishna Solanki Kriti Yadav |
| author_sort | Vaishnavi Pandey |
| collection | DOAJ |
| description | The fourth industrial revolution introduced the concept of Industry 4.0, which refers to the digitalization of the modern world and the inclusion of digital industry in major industrial sectors. Within this context, we investigated how Industry 4.0 technologies could transform conventional factories into smart factories and contribute to the development of a circular economy with significant economic, environmental, and social advantages. The primary goal of this study was to assess the potential of Industry 4.0 technologies in optimizing energy production from renewable resources. Specifically, we examined how various Industry 4.0 technologies, including Blockchain, the Internet of Things (IoT), and Cloud Computing, contributed to energy generation, transmission, and trade. In addition, we investigated solutions to issues such as intermittent power supply, low efficiency, grid bottleneck, wastage of excess power, and unpredictable energy markets. Furthermore, we discussed two case studies based on circular economies, sustainable development goals, and Industry 4.0-based data analysis platforms. The study concludes by discussing the challenges faced by industries in adapting to the digital revolution and the potential uses of modern-day digital technologies to advance the energy sector and society as a whole. |
| first_indexed | 2024-03-13T10:21:46Z |
| format | Article |
| id | doaj.art-5887d7ba0eb14345b5d509956327fdfb |
| institution | Directory Open Access Journal |
| issn | 2096-2487 |
| language | English |
| last_indexed | 2024-03-13T10:21:46Z |
| publishDate | 2023-06-01 |
| publisher | KeAi Communications Co., Ltd. |
| record_format | Article |
| series | International Journal of Innovation Studies |
| spelling | doaj.art-5887d7ba0eb14345b5d509956327fdfb2023-05-20T04:29:50ZengKeAi Communications Co., Ltd.International Journal of Innovation Studies2096-24872023-06-0172171188Accelerating the renewable energy sector through Industry 4.0: Optimization opportunities in the digital revolutionVaishnavi Pandey0Anirbid Sircar1Namrata Bist2Krishna Solanki3Kriti Yadav4Pandit Deendayal Energy University, Gandhinagar, 382007, Gujarat, IndiaPandit Deendayal Energy University, Gandhinagar, 382007, Gujarat, IndiaPandit Deendayal Energy University, Gandhinagar, 382007, Gujarat, IndiaPandit Deendayal Energy University, Gandhinagar, 382007, Gujarat, IndiaCorresponding author.; Pandit Deendayal Energy University, Gandhinagar, 382007, Gujarat, IndiaThe fourth industrial revolution introduced the concept of Industry 4.0, which refers to the digitalization of the modern world and the inclusion of digital industry in major industrial sectors. Within this context, we investigated how Industry 4.0 technologies could transform conventional factories into smart factories and contribute to the development of a circular economy with significant economic, environmental, and social advantages. The primary goal of this study was to assess the potential of Industry 4.0 technologies in optimizing energy production from renewable resources. Specifically, we examined how various Industry 4.0 technologies, including Blockchain, the Internet of Things (IoT), and Cloud Computing, contributed to energy generation, transmission, and trade. In addition, we investigated solutions to issues such as intermittent power supply, low efficiency, grid bottleneck, wastage of excess power, and unpredictable energy markets. Furthermore, we discussed two case studies based on circular economies, sustainable development goals, and Industry 4.0-based data analysis platforms. The study concludes by discussing the challenges faced by industries in adapting to the digital revolution and the potential uses of modern-day digital technologies to advance the energy sector and society as a whole.http://www.sciencedirect.com/science/article/pii/S2096248723000103Industry 4.0Renewable energyBlockchainEnergy tradingSmart grid |
| spellingShingle | Vaishnavi Pandey Anirbid Sircar Namrata Bist Krishna Solanki Kriti Yadav Accelerating the renewable energy sector through Industry 4.0: Optimization opportunities in the digital revolution International Journal of Innovation Studies Industry 4.0 Renewable energy Blockchain Energy trading Smart grid |
| title | Accelerating the renewable energy sector through Industry 4.0: Optimization opportunities in the digital revolution |
| title_full | Accelerating the renewable energy sector through Industry 4.0: Optimization opportunities in the digital revolution |
| title_fullStr | Accelerating the renewable energy sector through Industry 4.0: Optimization opportunities in the digital revolution |
| title_full_unstemmed | Accelerating the renewable energy sector through Industry 4.0: Optimization opportunities in the digital revolution |
| title_short | Accelerating the renewable energy sector through Industry 4.0: Optimization opportunities in the digital revolution |
| title_sort | accelerating the renewable energy sector through industry 4 0 optimization opportunities in the digital revolution |
| topic | Industry 4.0 Renewable energy Blockchain Energy trading Smart grid |
| url | http://www.sciencedirect.com/science/article/pii/S2096248723000103 |
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