Predict, Optimize, Synchronize, Control: How AI Can Fulfill the Promise of Sustainable Energy Resources and Reshape the Future of Utilities
The world is changing rapidly as technology advances at breakneck speed. From the fourth industrial revolution and virtual reality to 5G and artificial intelligence (AI), our society is on the brink of tremendous technological upheaval. Although many industries evolve alongside innovations, some, such as utilities, have not moved at the same pace. This is in large part due to a range of complex existing barriers that most regulated industries face, with changing regulatory regimes and lack of funding.
Despite challenges, the utilities industry is long overdue for modernization. Just the fact that, of the G20 countries, which account for 80% of the world’s emissions, only six have formally increased their emissions reduction targets tells us how little we have collectively accomplished. While, from a distance, it looks like the energy industry is dragging its feet, the question of transitioning to green power is much more complicated. In terms of grid reliability and resilience, success will depend on how distributed energy resources (DERs) are integrated, optimized, synchronized, and controlled.…