The energy sector uses artificial intelligence (AI) to monitor devices and decrease energy consumption.
FREMONT, CA: Artificial intelligence continues to cause dramatic transformations, but few recognize what technology can go beyond Amazon's Alexa or Apple's Siri. These are examples of a virtual assistant or weak AI technology, the AI application's most common example. But advanced machine learning in the data-driven energy sector is clearing the way for solid AI to increase performance, forecasting, trading, and user accessibility.
Electricity is a product that, on open markets, can be purchased, sold, and exchanged. From weather forecasts to grid demand or supply balance, vast quantities of data must be continuously analyzed by power sellers, buyers, and brokers for these markets to work efficiently. In the industry, those best qualified to interpret the data have a competitive edge.
Intelligent Power Consumption
In the United States, nearly half of power users have smart electrical meters, offering personalized energy usage data to allow informed consumer self-regulation of energy use. New smart meters and smart home solutions powered by AI are not yet standard but provide a substantial boost to end-user performance. These energy monitoring systems interact with other household devices to decrease energy waste and saving owners money. For example, the devices like regulating air conditioning, inform the charging of electric cars during hours with lower electric costs, control lighting, and handle appliances.
With the ability to adjust and respond to consumer trends and energy prices, these devices may represent significant energy savings if extended to the larger population. For all, widespread implementation could lead to a greener, more reliable electric grid.
Intelligent Energy Storage
Making it easier to incorporate different technologies, including renewable-powered microgrids, utility-scale battery storage, and pumped hydro, artificial intelligence will enhance current energy storage technologies. Along with the emergence of intermittent energy sources such as wind and solar, modern grids' energy storage function is rapidly increasing, placing a more significant strain on power brokers to balance supply and demand. As technology advances and costs decrease, smart energy storage plays a more substantial role in the grid's additional services. These functions help balance grid operators and facilitate the transfer of energy from generators to customers.
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