STRATEGY AND BEST PRACTICES,ENERGY
Article | July 27, 2022
Machine learning and artificial intelligence (AI) are two of the most commonly used commercial phrases these days. As a result, companies across sectors are searching for methods to include them in order to optimize and automate their key operations. The energy sector is no exception!
Indeed, throughout the years, renewable energy industries (wind, solar, hydro, nuclear) have substantially gained from the potential of machine learning. They were able to reduce their expenses, make better projections, and raise the rate of return on their portfolio. And this tendency is just going to gain momentum. If your company is in the energy industry or utilizes a lot of power, machine learning and AI can help you improve your business performance. But how precisely? Let's get started.
Ways in Which AI and Machine Learning are Changing Energy Sector
There are a few methods that machine learning and AI can be applied to positively improve the energy industry. Here are a few popular applications currently under development.
AI helps match energy output with demand and ensure power grid stability and resilience.In 2003, a low-hanging high-voltage electricity line hit an overgrown tree in Ohio, causing a widespread blackout. There was no power system alarm and no sign of the incident. The electric company didn't notice until three additional power lines failed. This carelessness ultimately brought down the whole grid. The 50 million-person blackout lasted two days. Eleven individuals died, and $6 billion was lost.
Predictive maintenance can be implemented using machine learning and IoT
Sensors gather operational time series data from electricity lines, equipment, and stations (data accompanied by a timestamp).
Machine learning algorithms can then forecast when a component will fail (or n-steps). It can also anticipate machinery's remaining usable life or future breakdown. These algorithms detect machine failure, eliminate blackouts or downtimes, improve maintenance procedures, and reduce maintenance expenses.
Grid management is a promising AI application in energy. Complex networks distribute electricity to users (also known as the power grid). Generation and demand must always match in the electrical system. Other issues, like blackouts and system breakdowns, can occur.
Despite being ancient, pumped hydroelectric storage is the most common way to store energy. It operates by moving water upwards and letting it fall into turbines. Renewable energy makes predicting the grid's power generation challenging. After all, it is affected by a variety of things, like sunlight and wind.
Large demand shifts can be expensive for nations that depend on renewable energy. As nations migrate to green energy, it's harder to adapt to demand fluctuations. Germany plans to use 80% renewable energy by 2050.
Countries such as Germany will encounter two major challenges Demand fluctuations: On some days or times of the year, power consumption soars (on Christmas, for example) Weather volatility: Without wind or clear skies, it might be hard to meet electrical demand. In both circumstances, more stations or fossil fuel-powered facilities must meet demand
Solving demand response issues
Many nations are partnering with businesses to examine weather forecasts, power demand, etc. Germany's EWeLiNE project forecasts wind and solar energy at a specific moment. This enables the government to use non-renewable energy to meet additional power demand.
They utilize enormous historical data sets to train machine learning algorithms, as well as data from wind turbines or solar panels, to properly balance supply and demand.
AI increases the potential of humans. Several renewable energy producers are investing in artificial intelligence to boost their businesses.There are numerous uses of artificial intelligence in renewable energy. The fundamental purpose of AI integrated systems is to reduce forecasting issues and incorporate renewable energy into the central energy grid as effectively as possible. AI can also assist renewable energy providers in developing successful plans and policies based on present energy consumption and demand.
Article | June 14, 2022
Renewable energy has transformed our planet. It's raised awareness of global warming and climate change. Both governments and ordinary people are seeking to move from fossil fuels to renewable energy because of this awareness. Technology's involvement in this revolution cannot be understated. Thought a few years ago that solar energy would power average houses in small communities. Thanks to the widespread manufacture of lithium-ion batteries, EVs will be the next big thing.
Major Renewable Energy Technologies Transforming the Future
Despite the name, this is not a conspiracy theory about global dominance. Modern technology converts electricity into synthetic fuels, thermal energy, and hydrogen. This breakthrough technology can minimize fossil fuel dependence by focusing on synthetic ones. It can also help with efficient storage solutions.
Green Appliances and Machines
Leading household appliance makers are launching solar-powered appliances. This is a wonderful start toward minimizing family power expenses. Many households have begun to invest in gadgets such as solar air conditioners.
Distributed Generation Systems
Several locations are experimenting with distributed generation. This reduces dependence on a centralized grid and simplifies transmission and distribution. It also reduces grid dependability and failures.
Most European nations are actively electrifying to cut carbon emissions. This is not the same as a power supply. Rather, it implies developing assets and infrastructure that can shift and aid in the adoption of electricity. Providing public EV charging stations is a step towards electrification.
Prominent private companies such as Google, Apple, and Microsoft have made significant commitments to renewable energy in recent years. While some governments are actively attempting to make the shift, others have yet to take environmental challenges such as global warming and climate change seriously. Technological breakthroughs are helping to make the transition to renewable energy greener, quicker, and more economical.
Article | December 17, 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.
Article | June 8, 2022
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.