Renewable energy is in its very nature variable. The power that it generates is never uniform and depends on a range of external meteorological factors that can’t be controlled.
Today machine learning is helping many innovative energy companies to analyze massive amounts of data about energy consumption and production, to predict physical behaviors, system actions and human impact towards energy resources.
Machine learning revolutionizes the way we deal with renewables. Its impact ranges across the areas of renewable energy forecasting and smart grid operation optimization.
LotusLabs can help you craft tailored machine learning solutions to analyze such data and obtain actionable insights.
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.
Machine learning solutions help in the analysis of power generation and power outages and help solve problems by analysing historical data and forecasting outages, and malfunctions in the power grid.
Our algorithms can constantly monitor, analyze energy consumption, detect emerging problems and assist in the analysis to improve performance.
Reducing customer churn for utilities
By feeding customer characteristics, behavior, and billing information into a machine learning tool utilities can cut churn and increase their customers’ experience and satisfaction. Machine learning can help utilities helping their customers to identify homes at greatest risk of switching providers, listen to their concerns, and offer solutions.
Machine learning models could ultimately raise program participation rates as much as 20 percent.
Utilities can improve customer satisfaction by providing personalized insights and analysis, breaking down homes’ energy consumption by appliance. This can help their customers understand their energy behavior and pinpoint the biggest saving opportunities. LotusLabs algorithm takes into account meter reads, weather and households characteristics to create energy efficiency advice and disaggregated profile.
Price optimization for demand-response
At LotusLabs using machine learning we can predict demand for energy consumption and make optimized pricing recommendations to help the energy companies meet target goals. Implementing machine learning techniques coupled with optimization software we are able to learn non-linear correlations between energy supply and demand to make optimal pricing recommendation.
Integrating electric vehicles into the grid
Detecting when Electric Vehicles are plugged into the grid allows utilities to suggest time-of-use rates and encourage overnight charging. Moreover, with our algorithms it is easier to profile the EV brand based on its load curve. Electric cars can also be used as a battery for smart grids.
LotusLabs can help you in your AI journey
You want to see AI drive value in every corner of your business. But how do you get started? By building together an AI system with reliable day-to-day operations. At LotusLabs we are experts in Machine Learning and AI infrastructure. Our people work with your people, at all levels. Our methods help you find ways to put AI to work. Transform your business into an AI-driven enterprise.