Renewable energy forecasting
Machine learning algorithms can accurately predict the amount of electricity generated by stochastic energy sources such as wind turbines and solar panels, effectively helping optimization algorithms to balance the grid helping the transition to renewable energy without destabilizing the power grid.Machine learning models are able to generate very accurate energy demand and consumption forecasts. Those predictions are used by facilities and building managers, energy companies and utilities companies to deploy energy-saving policies.
Smart Grid Optimization
Countries are gradually moving towards establishing a ‘smart grid’, a “fully automated power delivery network that monitors and controls every consumer and node, ensuring a two-way flow of electricity and information”. Energy departments in many countries are installing millions of smart meters, devices on the consumer end that monitor energy demand and supply. The idea is to connect smart energy units with the grid and optimize electricity flow during off-peak times, lowering prices for the customer while also relaxing the workload of the grid. At LotusLabs we are smart grid experts and can deliver tailored solutions for your business.