AI in the Renewable Energy Sector: Investment Perspective

AI in the Renewable Energy Sector: Investment Perspective
As the worldwide use of artificial intelligence (AI) in the energy market is expected to reach $7.78 billion by 2024, with a CAGR of 22.49% from 2019 to 2024, it is easy to see why it's a popular topic on the minds of many leading brands in the energy sector, as well as investors looking to reap the future perks that AI could bring to the energy industry.

According to BIS Research, North America is expected to be the largest market for AI in energy through 2024. However, Asia-Pacific is expected to rise rapidly over the same time due to the rising need for more decentralized power production.

Investment Opportunities in AI-based Energy Industry: Economic Visibility

AI's economic viability and progress in the energy business can be attributed to numerous factors, including:

  • The desire to increase operational efficiency.
  • Increased interest in energy efficiency.
  • Decentralized electricity generation is being expanded.
  • Battery storage solutions are gaining popularity.

Since artificial intelligence has a wide range of applications, there are several investment opportunities in the energy industry.


Upstream Oil and Gas

Enhance efficiency and decrease downtime, which is critical for hydrocarbon companies owing to volatile oil prices and demand, to lessen the environmental implications of energy generation and consumption.


AI Chatbots

AI has the potential to enhance interactions between contact centers and consumers. Utilities that outsource to contact center providers can suffer significant fees. This is where AI, particularly when combined with natural language processing (NLP), can assist contact center operators by listening to conversations and automatically noting information in the appropriate apps, helping operators to make calls more reliable, effective, and satisfying to customers.


Smart Homes and Cities

AI integration benefits smart meters and smart energy management systems as well. Many residences and towns can utilize AI to collect real-time data and apply it in a number of ways to function more effectively and efficiently, enhancing sustainability while also making a living more comfortable and cities more accessible.


Monitoring Trends in Energy Generation and Consumption

Artificial intelligence is being utilized to assist energy companies and customers in recognizing and tracking patterns in energy generation and consumption. AI, for example, can predict the potential output of a certain wind or solar plant.


Closing Lines

Banking, finance, and trade are some of the suitable businesses that can profit. For example, AI and machine learning can be used in algorithmic trading, which involves utilizing computer programs to make trades in the energy business at speeds and frequencies that any human trader would consider inconceivable.

Spotlight

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We are a forward thinking company offering quality services and solutions in the wind industry. Our services include full O&M packages, ad-hoc electrical and mechanical repairs, servicing, inspection and end of warranty preparation/management.

OTHER ARTICLES
Energy

Renewables find success in ‘black start’ experiment

Article | March 22, 2021

Have you ever thought about what would happen if a power station failed? Without electricity to bring itself back online, it would be near impossible for a station to begin operating again, like trying to set fire to paper without a flame. This scenario would quickly lead to widespread chaos, with hospitals and schools plunged into darkness, refrigeration, and sanitation seriously hampered and transport systems brought to a standstill. For these reasons (and many, many more), governments and electricity networks often have complex and rigorous plans in place to bring dead power stations back online at the earliest.

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Energy

5 Challenges in Renewable Energy in 2021

Article | April 28, 2021

Energy is an important feature in the economic and political development of a country. In developed nations like the USA, energy expansion has now reached a point where renewable energy sources also play a large part in the production of electricity. To meet the energy demands of the country, most production of renewable energy comes from fossil fuels and other non-renewable energy sources. Around 25% of the world’s energy is generated with renewable energy resources- mainly solar, wind, hydropower, and in some cases, geothermal. It is one of the fastest-growing electricity sources. Renewable energy is collected from resources that are abundantly available in the environment, like the sun or wind. There has been a growing interest in renewable energy production as fossil fuels are depleting. In most parts of the world, renewable energy has become a primary source of energy production. Renewable energy is preferred as they produce fewer greenhouse gases than non-RE sources. There are several other advantages to renewable sources like lower carbon emissions, reduced air pollution, and other socioeconomic benefits. However, unlike non-RE sources, there are challenges in renewable energy like economic, political and regulatory barriers, structural, social, and technical challenges which require advancement in technology, and a heavy investment with a proper understanding of obstacles it faces. Some obstacles are due to technology associated with renewable energy, whereas others are because of policies, marketplace, regulations, and infrastructure. Impact of Covid-19 The Covid-19 pandemic has brought the world to a grinding halt. It has severely impacted individuals and businesses alike, with many of the latter being closed down permanently. Similarly, the pandemic has also impacted the expansion of clean energy systems by forcefully curbing any investments. The technology and adoption of renewables have been making uneven but sure progress. The global pandemic has slowed down this development. According to International Energy Agency, the global share of electricity supply from renewables had reached 28% in 2020 from 26% in 2019, but the growth is expected to slow down further. The total energy supply is set to reduce by 13% from 2019. This substantial decline can be attributed to supply chain disruptions, lockdown, and emerging financial problems. Transport biofuel production and renewable heat consumption are projected to decline due to lower industrial activity. Governments have an opportunity to promote and accelerate the use of clean energy by incentivizing building, technology, and infrastructure across the country. This would be crucial to rebuilding the economy, create jobs, and build efficiency. Capital Costs and Investment The most obvious challenge of widespread adoption of renewables is cost, predominantly infrastructure costs like building and installing solar and wind power plants. Although it is quite cheap to operate and maintain solar and wind power plants, installation becomes more and more expensive. Over the last few years, even though the prices of installation of solar panels has fallen significantly, it remains higher than non-renewables. On average, a 2-kilowatt solar panel system costs $4,159 after tax credits, whereas the capital cost of a gas-fired power plant would cost lesser than that. In the last two years, investment in renewables has increased, but that is only because the investments in fossil fuels have been rapidly falling. Clean energy investments still fall short of what is necessary to convert into a more sustainable future. To ensure continuous investment in sustainable energy, policymakers have to focus on short investment turnaround, focus on rapid environmental gains favoring cleaner energy generation. Power on demand One of the most significant challenges of renewables is the ability to provide power on demand. In the case of solar power, you only get energy during the day and only when it is sunny. As for wind energy, power is generated only when it is windy. There is an intermittent generation of power in renewables which wouldn’t be a problem if there were appropriate energy storage solutions. The biggest test in providing power on demand is storage. Even if homes, businesses, or states install wind energy systems or solar panels, storing the generated energy is still an unsolved issue. Opponents of renewable energy highlight the reliability factor on solar and wind to augment support for coal, gas, and nuclear plants, which provide baseload power. This argument is used by lobbyists to drive out investment into renewables, thus becoming a barrier to widespread adoption of wind and solar energy. Location challenges Renewable energy plants have grids that require a large area of land. It can be unappealing to customers to switch to renewable energy sources as it is conditional depending on the size of the land. Not all states and regions are apt to build solar panels or have wind turbines as they are dependent on the geographical location. For example, building solar panels in California makes more sense than building them in New York as the former has an abundant supply of both sun and land. Renewables operates on what is known as a decentralized model. In a decentralized power plant, small generating stations are spread across a larger area that works collectively to deliver power. In the case of coal, nuclear power, or natural gas, they are highly centralized and depend on fewer high output power plants. Siting Decentralized systems prove to be a problem for siting and transmission of energy created by solar or wind. Siting is needed to move blades or solar panels to large pieces of land. To do so requires to draw up contracts, negotiate, acquire permits, or build community relations; all of this can delay or kill a renewable project even before it begins. Businesses can incur additional charges due to demand and delivery which seems like a significant challenge for them. Utility services apply these charges to recover costs of purchasing energy and maintaining power lines and energy lost in the transmission system. Moving power sources closer to your business will help you avoid such preventable expenses. Transmission The next challenge to overcome in renewables is the transmission of generated electricity. Transmission means the transfer of electricity from where it is generated to where it is consumed. Most transmitters that exist in this day and age are built for coal and other fossil fuels and not renewables. To make things easier for transmission of clean energy, there needs to be a significant infrastructure and technological development, which cost a lot of money. Making the economics work with financing and siting can prove costly for developers and customers alike. Policies and Regulations Unfortunately, the fossil fuel industry is backed by multi-billionaires who wield a considerable amount of political influence. This severely affects the chances of expansion for the renewable industry. Industry experts estimate that the USA spends upwards of $60 billion on subsidies for fossil fuels every year. The taxpayers have helped fund the industry’s research and development, drilling, mining, and generation of electricity. Renewables like wind and solar enjoy much lesser subsidies and political backing. The fossil fuel industry has used its enormous power to spread misinformation about climate change. To increase public interest and investment in renewables, there need to be clear and concise legal procedures and regulatory policies. Having proper regulations in place creates a stable environment for investment and overcome hurdles and can anticipate the revenue streams. Large-scale renewable energy projects require a large amount of capital which is hindered by the failure of proper policies that fail to attract private players. Frequently Asked Questions What is a major challenge with using more renewable energy? Renewable energy is competing with fossil fuels and nuclear technology. Other major challenges include underdeveloped infrastructure and lack of economies of scale. What are the benefits of using renewable energy? Some benefits of using renewable energy are lower energy costs, reduction of emissions, massive positive impact on environment, and marketing opportunities for businesses. Is renewable energy cheaper than fossil fuels? Fossil fuels are subsidized which makes it cheaper at the beginning. However, renewables get cheaper to maintain over the years hence making it cheaper than fossil fuels. What is the cheapest source of renewable energy? Solar PV and on site wind are the cheapest sources of renewable energy sources. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What is a major challenge with using more renewable energy?", "acceptedAnswer": { "@type": "Answer", "text": "Renewable energy is competing with fossil fuels and nuclear technology. Other major challenges include underdeveloped infrastructure and lack of economies of scale." } },{ "@type": "Question", "name": "What are the benefits of using renewable energy?", "acceptedAnswer": { "@type": "Answer", "text": "Some benefits of using renewable energy are lower energy costs, reduction of emissions, massive positive impact on environment, and marketing opportunities for businesses." } },{ "@type": "Question", "name": "Is renewable energy cheaper than fossil fuels?", "acceptedAnswer": { "@type": "Answer", "text": "Fossil fuels are subsidized which makes it cheaper at the beginning. However, renewables get cheaper to maintain over the years hence making it cheaper than fossil fuels." } }] }

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Energy

Treasury Wine Estates To Install Thousands Of Solar Panels

Article | May 19, 2021

The company behind famous Australian wine brands including Penfolds and Wolf Blass is embracing solar energy in a big way. ASX-listed Treasury Wine Estates (TWE) is one of the world’s largest wine companies and has an ambition to be the “world’s most admired premium wine company”. A powerful way to win consumer hearts, minds (and wallets) these days is to have a strong focus on sustainability. As part of its sustainability mission, wines in TWE’s portfolio will be produced using 100% renewable electricity by 2024. In a step towards this renewables goal in Australia, approximately 9,500 solar panels will be installed at Barossa Winery and Production Centre in South Australia, and Karadoc Winery in Victoria by the end of this year. Collectively, the solar panels will generate more than 5,500 megawatt-hours of electricity annually, enough to supply the equivalent of 900 homes. Total capacity wasn’t mentioned, but given the annual output, I’d estimate it at around 3.75 MW.

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Energy

How viable is Underground Hydrogen Storage?

Article | December 23, 2021

Cleaner energy resources are the dire need of the hour and this is a known fact. While scientists and experts across the planet are striving hard to reduce our reliance on fossil fuels, our energy needs have never faced a downfall- thanks to rapid industrialization and urbanization. Although renewable resources like solar, wind, and hydro-electric power are the most popular alternatives, these are seasonal energy sources and the energy production from the same will not be similar all around the year. The fluctuations in production hence cannot always meet the energy demand of the population, and this makes the renewable energy sources not completely reliable. Solar Production v/s Demand of the same in a year What and How H2 is produced? Now, this is where Hydrogen- the first element of the periodic table comes to the spotlight with a solution. Being a gas, hydrogen fuel can very well cater to our energy needs and is produced from techniques including Thermochemical, Solar-Water splitting, electrolytic and biological processes. While the production of this cleaner energy source leaves a carbon footprint of about 830 million tonnes in the form of CO2 annually, the result being a zero-emission fuel is what makes H2’s future bright. Storage of H2 – the million-dollar question: Having almost cleared the need and methods of producing hydrogen fuel, we will be looking at an area that is usually not given much thought about and that is the storage of H2. As already mentioned, for time being let us consider hydrogen as an alternative to renewable resources which is utilized when the energy demand increases drastically. While producing the fuel in the nick of time is obviously undoable, sufficient storage of H2 anticipating the demand is the best choice. Like Natural Gas, Hydrogen is also compressed before storing to achieve lower volume and also because liquid hydrogen demands a 64% higher amount of energy for storage than its compressed gaseous counterpart. Storage tanks v/s Geological landforms: Compressed Hydrogen can be stored in surface storage vessels (like steel composite concrete vessels and in wind turbine towers) or in geological landforms like (salt caverns, depleted O&G reservoirs, and aquifers). Nevertheless, unlike the underground geological landforms which offer huge storage capacity owing to their sheer scale, the storage tanks which can range in size from a small bottle to a huge tank require high amounts of pressure to store an appreciable amount of H2 in it. Since these storage tanks are usually constructed on the surface, the pressure conditions in these tanks need to be artificially stimulated and thereby mount huge upfront costs when compared to their geological storage counterpart. H2 storage prices in Geological Landforms v/s Storage Vessels (in $/kg) The above is a table comparing the prices of Hydrogen storage in Geological landforms and Storage Vessels at different pressure conditions. It is visible from the table that it's about 218 times cheaper to store the same amount of hydrogen in Geological landforms than in storage vessels. Is geological storage truly a better option? Like any other storage option geological storage too has its pros and cons. From the erosion of pipelines to the tedious task of injecting the gas and maintaining it at apt pressure conditions, geological storage has its limitations. However, the important prerequisite is the availability of the suitable landform itself. While most of the Depleted O&G Reservoirs have already met all the requirements for a suitable Underground Hydrogen Storage (UHS) system, the presence of unrecoverable remnant fluids in it makes it both a boon and a bane. This is because the presence of remnant fluids like oil and gas satisfies the cushion gas need for efficient storage of H2 in the reservoir, chances of contamination of H2 by the same is also high. This is the reason why Aquifers too aren’t favorable underground landforms when it comes to hydrogen storage. Salt Caverns- the best UHS System? The problem of Hydrogen contamination in Depleted Oil & Gas reservoirs and aquifers leaves us to the next big suitable subsurface landform- salt caverns. Unlike the other two landforms, the problem of contamination can be prevented in these dome-like structures formed due to the upliftment of salt deposits and it is also found that about 98% of its storage efficiency can be used to store Hydrogen here. The reason behind its relatively expensive nature when compared to its other two counterparts is due to the process of salt removing or leaching that must be done before storing to ensure that the contamination of the gas is unheard of at least here. Suitable Conditions of UHS: As per Stefan Iglauer, the maximum amount of H2 can be stored at a depth of 1100m beneath the Earth’s surface and the capacity gradually decreases up until 3700 m depth beyond which the wettability of the gas increases as it percolates through the rocks and hence cannot be permanently immobilized. Conclusively it is found that suitable landforms formed at 1km depth can store up to 2.0 Mt of H2. Comparing this 2 MT storage capacity of Salt Caverns with the currently available storage tanks which can store about 800 kg of H2 in it, it is visible that geological landforms have a clear upper hand at least when it comes to storage capacity. Future of UHS: With demands for Hydrogen fuel estimated to grow at 5.48 % annually and the need for a suitable storage system of the same at 5.8% annually, the field of Underground Hydrogen Storage systems indeed has a bright scope. Moreover, to meet the large-scale needs of Industries, there is an imminent need to level up the storage capacity of H2 and by exploring suitable geological landforms across the globe, the estimated industrial need of 1200 kT/ year in 2050 can be met.

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Cirrus Wind Services Ltd

We are a forward thinking company offering quality services and solutions in the wind industry. Our services include full O&M packages, ad-hoc electrical and mechanical repairs, servicing, inspection and end of warranty preparation/management.

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FirstEnergy Ohio Utilities Launch Request for Proposal for 2023 Renewable Energy Credits

PR Newswire | October 20, 2023

FirstEnergy Corp. issued a Request for Proposal (RFP) to purchase Ohio-compliant Renewable Energy Credits (RECs) for its Ohio subsidiaries – Ohio Edison, The Illuminating Company and Toledo Edison. The purchases will help meet the companies' 2023 renewable energy targets established under Ohio's alternative energy law. RECs sought in this RFP must be Eligible for compliance with the companies' 2023 renewable energy obligations. Sourced from generating facilities certified in accordance with rules and procedures put forth by the Public Utilities Commission of Ohio (PUCO). Deliverable through PJM Environmental Information System Generation Attribute Tracking System (EIS GATS) and generated between Jan. 1, 2021, and Dec. 31, 2023. The companies plan to purchase 570,000 RECs, which can include solar renewable energy credits. One REC represents the environmental attributes of one megawatt hour of generation from a PUCO-qualified renewable generating facility. The cost of the RECs is recovered from the utility's standard service offer customers through a monthly charge filed quarterly with the PUCO. No energy or capacity will be purchased under the RFP. The number of individual bidders is not limited. Participants in the RFP must meet and maintain specific credit and security qualifications and must be able to prove their REC generating facilities are certified or in the process of becoming certified by the PUCO. The RFP is a competitive process managed by CRA International, Inc., a worldwide leader in providing services. Based on the RFP results, the Ohio utilities will enter into agreement(s) with winning suppliers to purchase the necessary quantities of RECs. FirstEnergy's Ohio utilities have a website, www.firstenergy-recrfp.com, to provide bidders with a central source of documents, data and other information for the RFP process. On Oct. 24, 2023, at 11:00 a.m. EPT, the FirstEnergy Ohio utilities and their consultant, CRA International, will conduct a webinar to outline the RFP process and the terms of the agreement, as well as to provide a forum to submit any questions. Questions also may be submitted during the RFP process directly through the RFP website. To participate in the RFP, potential bidders are encouraged to submit credit applications by Nov. 17, 2023, and proposals are due Nov. 28, 2023, by 5 p.m. EPT.

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SEW Acquires GridExchange - Transactive Energy Platforms - Pioneering the Future of Clean Energy Transition

Business Wire | October 25, 2023

SEW, a global leader in AI-Powered Connected Customer (CX) and Workforce (WX) Experience Industry Cloud Platforms, announces its acquisition of GridExchange, a cutting-edge Transactive Energy software platform, from Alectra Utilities Corporation. GridExchange empowers energy consumers to transition from passive users to proactive prosumers, leveraging distributed energy resources (DERs) such as solar panels, battery storage, and EV (Electric Vehicles). Through a secure and user-friendly Customer Experience (CX), GridExchange facilitates seamless exchanges of energy, driving a reduction in greenhouse gas CO2 emissions, lowering energy costs, and strengthening grid resiliency. stated Deepak Garg, CEO and Founder of SEW. At SEW, we are shaping a clean and sustainable energy future. The acquisition of GridExchange aligns perfectly with our vision and strategy of an intelligent, resilient, and sustainable energy ecosystem. Our journey towards a sustainable future begins with empowering and educating individuals and businesses alike to actively participate in the energy revolution," emphasized Deepak Garg. "By integrating GridExchange into our SEW connected platform, we are not only driving cleaner energy transition and adoption but also revolutionizing the way people and communities engage with their energy consumption. [Source:Business Wire] GridExchange’s web and mobile application allows utilities to engage customers with DERs, optimizing grid operations by managing peak load and maximizing GHG reduction. Customers, in turn, have the flexibility to contribute excess energy or adjust consumption patterns in exchange for financial incentives and loyalty rewards redeemable at local businesses. Brian Bentz, President and CEO of Alectra, emphasized, "Our development of GridExchange, which helped to enable non-wires alternative pilots in our service territory, illustrates our commitment to enabling customers to participate in local energy markets. We are pleased that SEW will now be taking this platform to a global market.” Key benefits of the SEW-GridExchange platform include Empowering Energy Choices: Customers can harness the potential of existing DERs, transforming into proactive contributors to the energy ecosystem. Reducing GHG Emissions: The incentivization of clean energy usage through GridExchange leads to a notable reduction in greenhouse gas emissions. Enhancing Grid Planning: The platform unlocks and optimizes DER values, increasing grid flexibility and resiliency; and contributes to integrated system planning with non-wires alternatives, reducing or deferring overall energy system costs. Advocating for Policy Change: The initiative motivates regulators to propose standards and policies that pave the way for a cleaner energy future. GridExchange’s innovative application also demonstrates the following objectives Leveraging cutting-edge transactive energy technology to facilitate DER participation in grid services and accurately track energy generation and consumption's GHG impact. Incentivizing customers who own or operate DERsl by providing valuable grid services. Introducing a pioneering customer rewards program, where points earned are redeemable for a range of goods and services from participating merchants. SEW is committed to building a resilient and sustainable energy ecosystem through the integration of advanced technologies like AI, ML, and IoT. With over 1.2 billion users and adoption by 410+ utilities worldwide, SEW is at the forefront of driving the transition towards an intelligent energy future. This landmark acquisition not only signifies a major stride towards sustainable energy, but also underscores SEW's commitment to pioneer a greener future through advanced technology. SEW's mission is to engage, empower, and educate billions of people worldwide to conserve energy and water. Now, with the addition of GridExchange, SEW is poised to take sustainability to new heights. About Alectra Inc. Alectra Inc., through its subsidiary Alectra Utilities Corporation, serves approximately one million homes and businesses across an 1,800 square kilometers service territory comprising 17 communities including Alliston, Aurora, Barrie, Beeton, Brampton, Bradford West Gwillimbury, Guelph, Hamilton, Markham, Mississauga, Penetanguishene, Richmond Hill, Rockwood, St. Catharine’s, Thornton, Tottenham and Vaughan. The Alectra family of companies includes Alectra Inc. (Mississauga), Alectra Utilities Corporation (Hamilton) and Alectra Energy Solutions (Vaughan). About SEW SEW, with its innovative and industry-leading connected cloud platforms, delivers the best Digital Customer Experiences (CX) and Workforce Experiences (WX), powered by AI, ML, and IoT Analytics to the global energy, water, and gas providers. At SEW, the vision is to Engage, Empower, and Educate billions of people to save energy and water. We partner with businesses to deliver platforms that are easy-to-use, integrate seamlessly, and help build a strong technological foundation that allows them to become future ready.

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Transportation

Fort Moore EV charging project provides another example of EVSE solution

PR Newswire | October 23, 2023

Fort Moore and Georgia Power, a Southern Company subsidiary, recently entered into a contract to install 63 electric vehicle chargers at 23 locations across the base, allowing up to 126 vehicles to be plugged in on the base simultaneously. The project is underway and expected to be complete by the first quarter of 2024. Georgia Power was awarded a task order to provide a turnkey electric vehicle supply equipment (EVSE) solution using the General Services Administration Areawide Contract (AWC). The AWC task order will be used to provide a holistic and scalable EVSE solution to support electrification requirements. The AWC provides a useful contracting vehicle with regulated servicing utility companies. Under this arrangement, federal agencies may order utilities and other services from that supplier. The electric distribution system at Fort Moore is owned and managed by Flint Energies. Georgia Power, in partnership with Flint Energies, will extend the distribution system and add the charging stations necessary to charge the expanded electric vehicle fleet. stated Col. Colin Mahle, Fort Moore Garrison commander. Fort Moore leads the Army in our development and adoption of large-scale EV projects. The Army's goal is for all of our non-tactical vehicles to be EV by 2035. That will take more than just adding electric vehicles to our fleet, it will take additional infrastructure. We intend to achieve our goal of 100 percent EV vehicles early. [Source:PR Newswire] The EV charging project at Fort Moore is an example of better energy use and overall modernization. It also demonstrates Southern Company's commitment to supporting the resiliency, net-zero greenhouse gas (GHG) emission and decarbonization efforts of the Department of Defense installations and their efforts to meet the requirements of the Biden Administration Executive Order 14057. "In addition to being essential for national defense, our nation's military bases are powerful economic engines for surrounding communities providing jobs and driving thriving local economies," said Chris Cummiskey, executive vice president, chief customer solutions and chief commercial officer for Southern Company. "We're appreciative of this partnership with Fort Moore, further exhibiting our mutual commitment to energy innovation and decarbonization. As the new EV charging stations become electrified across the installation this year, we're certain the investment that is being made today will benefit the base for years to come."

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FirstEnergy Ohio Utilities Launch Request for Proposal for 2023 Renewable Energy Credits

PR Newswire | October 20, 2023

FirstEnergy Corp. issued a Request for Proposal (RFP) to purchase Ohio-compliant Renewable Energy Credits (RECs) for its Ohio subsidiaries – Ohio Edison, The Illuminating Company and Toledo Edison. The purchases will help meet the companies' 2023 renewable energy targets established under Ohio's alternative energy law. RECs sought in this RFP must be Eligible for compliance with the companies' 2023 renewable energy obligations. Sourced from generating facilities certified in accordance with rules and procedures put forth by the Public Utilities Commission of Ohio (PUCO). Deliverable through PJM Environmental Information System Generation Attribute Tracking System (EIS GATS) and generated between Jan. 1, 2021, and Dec. 31, 2023. The companies plan to purchase 570,000 RECs, which can include solar renewable energy credits. One REC represents the environmental attributes of one megawatt hour of generation from a PUCO-qualified renewable generating facility. The cost of the RECs is recovered from the utility's standard service offer customers through a monthly charge filed quarterly with the PUCO. No energy or capacity will be purchased under the RFP. The number of individual bidders is not limited. Participants in the RFP must meet and maintain specific credit and security qualifications and must be able to prove their REC generating facilities are certified or in the process of becoming certified by the PUCO. The RFP is a competitive process managed by CRA International, Inc., a worldwide leader in providing services. Based on the RFP results, the Ohio utilities will enter into agreement(s) with winning suppliers to purchase the necessary quantities of RECs. FirstEnergy's Ohio utilities have a website, www.firstenergy-recrfp.com, to provide bidders with a central source of documents, data and other information for the RFP process. On Oct. 24, 2023, at 11:00 a.m. EPT, the FirstEnergy Ohio utilities and their consultant, CRA International, will conduct a webinar to outline the RFP process and the terms of the agreement, as well as to provide a forum to submit any questions. Questions also may be submitted during the RFP process directly through the RFP website. To participate in the RFP, potential bidders are encouraged to submit credit applications by Nov. 17, 2023, and proposals are due Nov. 28, 2023, by 5 p.m. EPT.

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SEW Acquires GridExchange - Transactive Energy Platforms - Pioneering the Future of Clean Energy Transition

Business Wire | October 25, 2023

SEW, a global leader in AI-Powered Connected Customer (CX) and Workforce (WX) Experience Industry Cloud Platforms, announces its acquisition of GridExchange, a cutting-edge Transactive Energy software platform, from Alectra Utilities Corporation. GridExchange empowers energy consumers to transition from passive users to proactive prosumers, leveraging distributed energy resources (DERs) such as solar panels, battery storage, and EV (Electric Vehicles). Through a secure and user-friendly Customer Experience (CX), GridExchange facilitates seamless exchanges of energy, driving a reduction in greenhouse gas CO2 emissions, lowering energy costs, and strengthening grid resiliency. stated Deepak Garg, CEO and Founder of SEW. At SEW, we are shaping a clean and sustainable energy future. The acquisition of GridExchange aligns perfectly with our vision and strategy of an intelligent, resilient, and sustainable energy ecosystem. Our journey towards a sustainable future begins with empowering and educating individuals and businesses alike to actively participate in the energy revolution," emphasized Deepak Garg. "By integrating GridExchange into our SEW connected platform, we are not only driving cleaner energy transition and adoption but also revolutionizing the way people and communities engage with their energy consumption. [Source:Business Wire] GridExchange’s web and mobile application allows utilities to engage customers with DERs, optimizing grid operations by managing peak load and maximizing GHG reduction. Customers, in turn, have the flexibility to contribute excess energy or adjust consumption patterns in exchange for financial incentives and loyalty rewards redeemable at local businesses. Brian Bentz, President and CEO of Alectra, emphasized, "Our development of GridExchange, which helped to enable non-wires alternative pilots in our service territory, illustrates our commitment to enabling customers to participate in local energy markets. We are pleased that SEW will now be taking this platform to a global market.” Key benefits of the SEW-GridExchange platform include Empowering Energy Choices: Customers can harness the potential of existing DERs, transforming into proactive contributors to the energy ecosystem. Reducing GHG Emissions: The incentivization of clean energy usage through GridExchange leads to a notable reduction in greenhouse gas emissions. Enhancing Grid Planning: The platform unlocks and optimizes DER values, increasing grid flexibility and resiliency; and contributes to integrated system planning with non-wires alternatives, reducing or deferring overall energy system costs. Advocating for Policy Change: The initiative motivates regulators to propose standards and policies that pave the way for a cleaner energy future. GridExchange’s innovative application also demonstrates the following objectives Leveraging cutting-edge transactive energy technology to facilitate DER participation in grid services and accurately track energy generation and consumption's GHG impact. Incentivizing customers who own or operate DERsl by providing valuable grid services. Introducing a pioneering customer rewards program, where points earned are redeemable for a range of goods and services from participating merchants. SEW is committed to building a resilient and sustainable energy ecosystem through the integration of advanced technologies like AI, ML, and IoT. With over 1.2 billion users and adoption by 410+ utilities worldwide, SEW is at the forefront of driving the transition towards an intelligent energy future. This landmark acquisition not only signifies a major stride towards sustainable energy, but also underscores SEW's commitment to pioneer a greener future through advanced technology. SEW's mission is to engage, empower, and educate billions of people worldwide to conserve energy and water. Now, with the addition of GridExchange, SEW is poised to take sustainability to new heights. About Alectra Inc. Alectra Inc., through its subsidiary Alectra Utilities Corporation, serves approximately one million homes and businesses across an 1,800 square kilometers service territory comprising 17 communities including Alliston, Aurora, Barrie, Beeton, Brampton, Bradford West Gwillimbury, Guelph, Hamilton, Markham, Mississauga, Penetanguishene, Richmond Hill, Rockwood, St. Catharine’s, Thornton, Tottenham and Vaughan. The Alectra family of companies includes Alectra Inc. (Mississauga), Alectra Utilities Corporation (Hamilton) and Alectra Energy Solutions (Vaughan). About SEW SEW, with its innovative and industry-leading connected cloud platforms, delivers the best Digital Customer Experiences (CX) and Workforce Experiences (WX), powered by AI, ML, and IoT Analytics to the global energy, water, and gas providers. At SEW, the vision is to Engage, Empower, and Educate billions of people to save energy and water. We partner with businesses to deliver platforms that are easy-to-use, integrate seamlessly, and help build a strong technological foundation that allows them to become future ready.

Read More

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Fort Moore EV charging project provides another example of EVSE solution

PR Newswire | October 23, 2023

Fort Moore and Georgia Power, a Southern Company subsidiary, recently entered into a contract to install 63 electric vehicle chargers at 23 locations across the base, allowing up to 126 vehicles to be plugged in on the base simultaneously. The project is underway and expected to be complete by the first quarter of 2024. Georgia Power was awarded a task order to provide a turnkey electric vehicle supply equipment (EVSE) solution using the General Services Administration Areawide Contract (AWC). The AWC task order will be used to provide a holistic and scalable EVSE solution to support electrification requirements. The AWC provides a useful contracting vehicle with regulated servicing utility companies. Under this arrangement, federal agencies may order utilities and other services from that supplier. The electric distribution system at Fort Moore is owned and managed by Flint Energies. Georgia Power, in partnership with Flint Energies, will extend the distribution system and add the charging stations necessary to charge the expanded electric vehicle fleet. stated Col. Colin Mahle, Fort Moore Garrison commander. Fort Moore leads the Army in our development and adoption of large-scale EV projects. The Army's goal is for all of our non-tactical vehicles to be EV by 2035. That will take more than just adding electric vehicles to our fleet, it will take additional infrastructure. We intend to achieve our goal of 100 percent EV vehicles early. [Source:PR Newswire] The EV charging project at Fort Moore is an example of better energy use and overall modernization. It also demonstrates Southern Company's commitment to supporting the resiliency, net-zero greenhouse gas (GHG) emission and decarbonization efforts of the Department of Defense installations and their efforts to meet the requirements of the Biden Administration Executive Order 14057. "In addition to being essential for national defense, our nation's military bases are powerful economic engines for surrounding communities providing jobs and driving thriving local economies," said Chris Cummiskey, executive vice president, chief customer solutions and chief commercial officer for Southern Company. "We're appreciative of this partnership with Fort Moore, further exhibiting our mutual commitment to energy innovation and decarbonization. As the new EV charging stations become electrified across the installation this year, we're certain the investment that is being made today will benefit the base for years to come."

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