• Power transformers and HV switchgear are usually the most valuable assets in a substation, requiring proper monitoring and maintenance.

• Cost-benefit analysis is a vital tool that helps electric utility companies, regulators, and grid operators in making informed
investment decisions.

• In the coming years, asset health monitoring is expected to become a key focus of utilities on a global scale.

Power transformers and HV switchgear are usually the most valuable assets in a substation, requiring proper monitoring and maintenance. Therefore, optimizing the life of an aging transformer and HV switchgear equipment is a major cause of concern for utilities and industries that have a significant installed base of transformers and HV switchgear. In some cases, this equipment dates back to the 1950s, and, ergo, needs to be consistently monitored through asset health monitoring (AHM) solutions that ensure optimum network performance and longevity. Cost-benefit analysis is a vital tool that helps electric utility companies, regulators, and grid operators in making informed investment decisions. When it comes to the cost-benefit analysis of installing AHM solutions for costly electricity grid equipment, such as power transformers and HV switchgear, savings outweigh the associated costs. That is precisely why electricity grids in advanced economies, that can afford the upfront investment cost, are opting for AHM solutions and are reaping the benefits in terms of improved network reliability standards.