Home > Resources > Articles > Key Benefits of Implementing AI in the Energy Industry

Key Benefits of Implementing AI in the Energy Industry

Artificial intelligence is now influencing in every industrial sector. How wonderful it can be to extend the benefits of this technology across industrial sectors that are facing crisis and imbalance of demand and supply all over the world! Energy is one such crucial sector that impacts all the other industries as they use power for their operations. This explains why, according to a recent BIS research report, the global AI market in the energy sector is expected to reach USD 7.79 billion by 2024 (Source). Moreover, research is being done in this sector to find out how the non-renewable sources of energy can be preserved, without creating a shortage in supply for human consumption. The use of renewable sources of energy seems to be the only savior. But, there are several challenges in utilizing renewable sources of energy too!

Spotlight

DAR PRO Solutions

DAR PRO Solutions represents Darling Ingredients' restaurant services division. Operating an extensive network of facilities across the U.S., our broad geographic reach provides a superior platform to provide used cooking oil collection and grease trap service to national accounts, as well as local independents, that includes restaurant chains, grocery retailers and other food service businesses

OTHER ARTICLES
Strategy and Best Practices, Energy

AI in the Renewable Energy Sector: Investment Perspective

Article | July 27, 2022

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.

Read More
Solar+Storage, Strategy and Best Practices

7 Necessary Steps for Effective Energy Management

Article | September 17, 2022

In a global economy, sustainability has become an important part of a company's business plan. Leading companies throughout the globe recognize that sustainability is critical to decreasing costs, expanding into new markets, and driving innovation and effectiveness throughout a company. Pollution prevention, or P2, is a key component of sustainability. Businesses can integrate sustainability into everyday operations in ways that encourage long-term cost savings and enhance environmental performance by effectively implementing P2 and Energy Efficiency (E2) initiatives. The ability of a company to recognize and integrate relative information, identify the relationship of environmental performance to the business model, and concentrate existing systems and resources towards specific goals is often a direct outcome of the successful execution of pollution-prevention and energy-efficiency initiatives. Management's complete support is required for planning, developing, and executing sustainability measures within a company framework. 7 Necessary Steps for Effective Energy Management Make the Commitment The most important step in closing the P2 implementation gap is a commitment to continuous improvement. Accomplishing P2 and E2 successful implementation through the seven-step process usually requires top-level support, clearly communicated through an environmental and energy management strategy; the formation of a cross-functional team representing the company's administrative and process knowledge, and the appointment of a leader to make sure consistency of focus, communication, and effort. As a crucial business strategy, an engaged collective effort backed by management will ensure a company's ability to recognize and achieve P2 and E2 results. Assess Performance and Opportunities Understanding present and historical waste generation and energy consumption is the initial step in identifying environmental performance possibilities. A cross-functional team-based evaluation that assesses performance, systems, and equipment will harness a company's intellectual capital and enable it to identify improvement possibilities from several viewpoints. Conversations with operational personnel can result in "ah-ha" moments that solve issues and provide new solutions. Evaluating environmental performance on the basis of data analysis and setting baselines to monitor progress utilizing the company's knowledge base will open up fresh perspectives on the commercial prospects that P2 and E2 can bring. Set Performance Goals Setting ambitious but reasonable objectives for enhancing environmental performance will motivate behaviors that lead to positive results. This stage establishes a shared vision of progress throughout the company while capturing the commitment to reduce pollution and energy consumption. By establishing particular areas of progress and setbacks, performance targets aid in monitoring the effectiveness of the environmental and/or energy management program. Goals that are effective will define the scope and assess the possibility for progress. Create an Action Plan A plan of action acts as a framework for guiding and monitoring the methodical approach to better environmental performance. It helps the team concentrate by demonstrating the breadth and size of objectives, targets, responsibilities, and resources. The strategy must be accepted by all parts of the institution that it targets in order to be successful. Implement the Action Plan Developing a communication strategy, increasing awareness, developing capacity, motivating personnel, and monitoring progress are all key components to effectively executing the action plan. It is vital to communicate the action plan, which will need an overall statement concerning purpose, policies, and progress. While the communication strategy is intended to create knowledge regarding energy efficiency and environmental sustainability, workers, customers, and society should also be educated on how they can help enhance environmental performance. Recognizing training requirements can also aid in the effective implementation of pollution prevention and energy efficiency initiatives. Continuous feedback on accomplishments can help drive employees to continue improving. Evaluate Progress The action plan will be evaluated on a regular basis to keep the team updated on progress toward the stated environmental performance improvement targets. A review of the action plan will reveal any efficiency measures that need to be changed or added. Recognize Achievements Once the momentum for pollution avoidance and energy efficiency has been generated, it is critical to maintain it. A commitment to continuous development must be maintained throughout the seven-step strategy to be successful. A dedicated leader driving the process and a motivated team carrying it out give the greatest possibility for a long-term program that produces results. Closing Lines It is critical to remember these fundamental energy management steps while developing a successful energy management program. Moreover, the global landscape is rapidly changing. As a result, it is always in need of creative and efficient energy management solutions. As a result, businesses are employing specialists to handle this.

Read More
Strategy and Best Practices

More Solar Ready To Help Power Pumping For SA Water

Article | July 8, 2022

SA Water’s electricity supply is about to become greener and cheaper again with the addition of another major solar power system, and an even bigger installation to soon follow. The utility says more 7,300 solar panels installed at the second pump station on its pipeline between Swan Reach and Stockwell are now connected and ready to go. “The Swan Reach to Stockwell Pipeline spans across more than 50 kilometres inland from the mighty Murray across to the northern Barossa area, and therefore requires significant energy to pump clean, safe drinking water across such large distances,” said SA Water’s Nicola Murphy While the total capacity of this new solar farm wasn’t provided, Ms. Murphy said it will generate approximately 5,224 megawatt hours of clean, green energy annually. There’s more solar energy to come for this section of pipeline, with a further 16,000 panels currently being connected at the first pump station.

Read More
Solar+Storage

HOW TO TAKE ADVANTAGE OF SOLAR ENERGY

Article | December 23, 2021

UTILIZING SOLAR ENERGY You want the world to be a better place for your children and your children’s children. So how do you go about making changes in order to ensure that it will be? There are only so many things you can do, but you know it would be a good start to change the way you use energy. There’s so much waste and, in reality, only so much energy to go around. You’ve heard that solar energy is the energy source of the future and you can get behind that. After all, the sun is bright and hot and always around. It’s not going to run out of energy anytime soon and it makes sense to use its energy to power things. But how do you take advantage of that? Here are a few ideas. START SMALL WITH SOLAR ENERGY You might want to test out how solar energy works by using it in small ways. First, get some solar powered landscape lights and other small items that can help you get used to how solar power works. You’ll see that those lights glow on a nightly basis from the sun’s power that they stored during the day and you’ll realize that solar power can work well in other areas. GO BIG WITH SOLAR PANELS You can also do your research and go all out with solar panels on your roof. They’re costly to install, but they cost a lot less now than they did in the past. Plus, they’ll pay you back over the years in energy savings. If you really want to make an impact and you have the money to do so, solar panels are a great way to take advantage of the solar energy beating down on your house. GET IN TOUCH WITH A CLEAN ENERGY PROVIDER If you go with solar panels yourself, more power to you (literally, in some ways!) but not every homeowner has the funds or inclination to go that route. If you want something easier, but you still want solar power, it’s best to contact a clean energy provider for help. Your clean energy provider will harness solar power for you (along with wind energy and other renewable sources) and add it to the grid. You can then use energy as needed and know that it comes from the sun and other clean sources. SOLAR ENERGY IS THE FUTURE With natural resources dwindling, it makes sense for more people to jump over to solar power. It definitely has enough power to go around and it doesn’t cause harmful gases and pollution to be released into the atmosphere. You may as well jump on board early with Star Energy Partners. You’ll not only have peace of mind about where your energy comes from, but you’ll also pay a fixed rate, which is lower than what your bills are now. We can even call your current company for you and get you switched over with ease.

Read More
Strategy and Best Practices, Energy

How Does Employing Energy Management Systems Helps Businesses?

Article | July 27, 2022

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.

Read More
Solar+Storage, Strategy and Best Practices

Slashing Greenhouse Gas Emissions: A Business Perspective!

Article | September 17, 2022

In a global economy, sustainability has become an important part of a company's business plan. Leading companies throughout the globe recognize that sustainability is critical to decreasing costs, expanding into new markets, and driving innovation and effectiveness throughout a company. Pollution prevention, or P2, is a key component of sustainability. Businesses can integrate sustainability into everyday operations in ways that encourage long-term cost savings and enhance environmental performance by effectively implementing P2 and Energy Efficiency (E2) initiatives. The ability of a company to recognize and integrate relative information, identify the relationship of environmental performance to the business model, and concentrate existing systems and resources towards specific goals is often a direct outcome of the successful execution of pollution-prevention and energy-efficiency initiatives. Management's complete support is required for planning, developing, and executing sustainability measures within a company framework. 7 Necessary Steps for Effective Energy Management Make the Commitment The most important step in closing the P2 implementation gap is a commitment to continuous improvement. Accomplishing P2 and E2 successful implementation through the seven-step process usually requires top-level support, clearly communicated through an environmental and energy management strategy; the formation of a cross-functional team representing the company's administrative and process knowledge, and the appointment of a leader to make sure consistency of focus, communication, and effort. As a crucial business strategy, an engaged collective effort backed by management will ensure a company's ability to recognize and achieve P2 and E2 results. Assess Performance and Opportunities Understanding present and historical waste generation and energy consumption is the initial step in identifying environmental performance possibilities. A cross-functional team-based evaluation that assesses performance, systems, and equipment will harness a company's intellectual capital and enable it to identify improvement possibilities from several viewpoints. Conversations with operational personnel can result in "ah-ha" moments that solve issues and provide new solutions. Evaluating environmental performance on the basis of data analysis and setting baselines to monitor progress utilizing the company's knowledge base will open up fresh perspectives on the commercial prospects that P2 and E2 can bring. Set Performance Goals Setting ambitious but reasonable objectives for enhancing environmental performance will motivate behaviors that lead to positive results. This stage establishes a shared vision of progress throughout the company while capturing the commitment to reduce pollution and energy consumption. By establishing particular areas of progress and setbacks, performance targets aid in monitoring the effectiveness of the environmental and/or energy management program. Goals that are effective will define the scope and assess the possibility for progress. Create an Action Plan A plan of action acts as a framework for guiding and monitoring the methodical approach to better environmental performance. It helps the team concentrate by demonstrating the breadth and size of objectives, targets, responsibilities, and resources. The strategy must be accepted by all parts of the institution that it targets in order to be successful. Implement the Action Plan Developing a communication strategy, increasing awareness, developing capacity, motivating personnel, and monitoring progress are all key components to effectively executing the action plan. It is vital to communicate the action plan, which will need an overall statement concerning purpose, policies, and progress. While the communication strategy is intended to create knowledge regarding energy efficiency and environmental sustainability, workers, customers, and society should also be educated on how they can help enhance environmental performance. Recognizing training requirements can also aid in the effective implementation of pollution prevention and energy efficiency initiatives. Continuous feedback on accomplishments can help drive employees to continue improving. Evaluate Progress The action plan will be evaluated on a regular basis to keep the team updated on progress toward the stated environmental performance improvement targets. A review of the action plan will reveal any efficiency measures that need to be changed or added. Recognize Achievements Once the momentum for pollution avoidance and energy efficiency has been generated, it is critical to maintain it. A commitment to continuous development must be maintained throughout the seven-step strategy to be successful. A dedicated leader driving the process and a motivated team carrying it out give the greatest possibility for a long-term program that produces results. Closing Lines It is critical to remember these fundamental energy management steps while developing a successful energy management program. Moreover, the global landscape is rapidly changing. As a result, it is always in need of creative and efficient energy management solutions. As a result, businesses are employing specialists to handle this.

Read More
Strategy and Best Practices

Technologies Shaping the Future of Renewable Energy

Article | July 8, 2022

SA Water’s electricity supply is about to become greener and cheaper again with the addition of another major solar power system, and an even bigger installation to soon follow. The utility says more 7,300 solar panels installed at the second pump station on its pipeline between Swan Reach and Stockwell are now connected and ready to go. “The Swan Reach to Stockwell Pipeline spans across more than 50 kilometres inland from the mighty Murray across to the northern Barossa area, and therefore requires significant energy to pump clean, safe drinking water across such large distances,” said SA Water’s Nicola Murphy While the total capacity of this new solar farm wasn’t provided, Ms. Murphy said it will generate approximately 5,224 megawatt hours of clean, green energy annually. There’s more solar energy to come for this section of pipeline, with a further 16,000 panels currently being connected at the first pump station.

Read More
Solar+Storage

HOW TO TAKE ADVANTAGE OF SOLAR ENERGY

Article | December 23, 2021

UTILIZING SOLAR ENERGY You want the world to be a better place for your children and your children’s children. So how do you go about making changes in order to ensure that it will be? There are only so many things you can do, but you know it would be a good start to change the way you use energy. There’s so much waste and, in reality, only so much energy to go around. You’ve heard that solar energy is the energy source of the future and you can get behind that. After all, the sun is bright and hot and always around. It’s not going to run out of energy anytime soon and it makes sense to use its energy to power things. But how do you take advantage of that? Here are a few ideas. START SMALL WITH SOLAR ENERGY You might want to test out how solar energy works by using it in small ways. First, get some solar powered landscape lights and other small items that can help you get used to how solar power works. You’ll see that those lights glow on a nightly basis from the sun’s power that they stored during the day and you’ll realize that solar power can work well in other areas. GO BIG WITH SOLAR PANELS You can also do your research and go all out with solar panels on your roof. They’re costly to install, but they cost a lot less now than they did in the past. Plus, they’ll pay you back over the years in energy savings. If you really want to make an impact and you have the money to do so, solar panels are a great way to take advantage of the solar energy beating down on your house. GET IN TOUCH WITH A CLEAN ENERGY PROVIDER If you go with solar panels yourself, more power to you (literally, in some ways!) but not every homeowner has the funds or inclination to go that route. If you want something easier, but you still want solar power, it’s best to contact a clean energy provider for help. Your clean energy provider will harness solar power for you (along with wind energy and other renewable sources) and add it to the grid. You can then use energy as needed and know that it comes from the sun and other clean sources. SOLAR ENERGY IS THE FUTURE With natural resources dwindling, it makes sense for more people to jump over to solar power. It definitely has enough power to go around and it doesn’t cause harmful gases and pollution to be released into the atmosphere. You may as well jump on board early with Star Energy Partners. You’ll not only have peace of mind about where your energy comes from, but you’ll also pay a fixed rate, which is lower than what your bills are now. We can even call your current company for you and get you switched over with ease.

Read More
MORE ARTICLES

Spotlight

DAR PRO Solutions

DAR PRO Solutions represents Darling Ingredients' restaurant services division. Operating an extensive network of facilities across the U.S., our broad geographic reach provides a superior platform to provide used cooking oil collection and grease trap service to national accounts, as well as local independents, that includes restaurant chains, grocery retailers and other food service businesses

Related News

Solar+Storage

Bidgely and GridX Partner to Optimize Electricity Costs for a Clean Energy Future

businesswire | August 02, 2023

Bidgely, the leading provider of AI-powered energy intelligence solutions, and GridX, the leading enterprise rate platform provider to modern utilities, have announced a partnership to deliver enhanced energy cost accuracy and control for utilities and their customers. By combining behind-the-meter consumption insights with highly accurate cost insights, utilities can implement grid management initiatives, such as cost-based load shifting and time-varying rates, that keep energy reliable and affordable for consumers. "Motivating consumers to make smarter energy decisions is paramount to achieving utility decarbonization goals,” said Chris Black, CEO of GridX. “Through our partnership with Bidgely, we are further reducing the mystery of how a consumer's energy choices correspond to their energy bills or grid impact. This results in a win for everyone. Customers get lower bills, utilities get more life out of their existing infrastructure, and customers and utilities are in sync in achieving their decarbonization goals.” Bidgely’s UtilityAI™ Platform, which provides hour-by-hour energy insights into customers’ usage patterns at the appliance level, combined with GridX’s industry-leading rate engine enables utilities to execute demand-side management strategies critical for supporting decarbonization and electrification goals. This integration enables utilities to: Improve rate analytics for tailoring new and existing plans to customer needs and utility objectives. Give customers rate comparisons that project the detailed impact to their bill across different rate options. Personalize cost simulations that inform customers on how potential changes impact future bills, for example: EV purchases, HVAC upgrades, solar PV and Time-of-Use enrollment. Deliver accurate appliance-level cost breakdowns across the bill cycle and hourly levels. Unlocking behind-the-meter cost savings opportunities also bolsters satisfaction and trust among utility customers. Through highly precise bill projections, rate comparisons and energy efficiency recommendations, consumers can understand how their individual usage affects bill statements and better control their energy costs. “Restructuring rate plans for better load shifting has become an imperative utility initiative, especially as electric vehicles, appliance electrification and weather-related grid strains become more prolific. By partnering with GridX, we are teaching consumers that when they use energy is as important as how much energy is used, and we are giving every kilowatt-hour consumed a dollar value to help drive simple and actionable behavioral changes,” said Abhay Gupta, CEO of Bidgely. About Bidgely Bidgely is an AI-powered SaaS Company accelerating a clean energy future by enabling energy companies and consumers to make data-driven energy-related decisions. Powered by our unique patented technology, Bidgely's UtilityAI™ Platform transforms multiple dimensions of customer data - such as energy consumption, demographic, and interactions - into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From a Distributed Energy Resources (DER) and Grid Edge perspective, Bidgely is advancing smart meter innovation with data-driven solutions for solar PVs, EV detection, EV behavioral load shifting and managed charging, energy theft, short-term load forecasting, grid analytics, and TOU rate designs. Bidgely’s UtilityAI™ energy analytics provides deep visibility into generation, consumption for better peak load shaping and grid planning, and delivers targeted recommendations for new value-added products and services. With roots in Silicon Valley, Bidgely has over 17 energy patents, $75M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential and commercial customers around the world. About GridX, Inc GridX partners with utilities and energy suppliers to transform their businesses and accelerate the clean energy transition. The company’s Enterprise Rate Platform helps these organizations to develop new products and business models to achieve their clean energy goals; quickly operationalize new offerings in their billing and settlement processes; and better engage with their customers for broader program adoption. GridX’s platform is used by leading utilities, retail energy suppliers and energy ecosystem OEMs to serve more than 25 million homes and businesses.

Read More

Solar+Storage, Energy

Babcock & Wilcox Solar Energy, Inc. Awarded Community Solar Contracts Totaling $20 Million

Businesswire | August 01, 2023

Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE: BW) announced today that its subsidiary, Babcock & Wilcox Solar Energy, Inc., has been awarded contracts totaling more than $20 million by Summit Ridge Energy, LLC, for the engineering, procurement and construction (EPC) of 25 megawatts of community solar energy projects in Illinois. B&W has successfully executed multiple projects for Summit Ridge Energy, including a $15 million community solar project announced in March 2023 and a $20 million project announced in 2022. “We value our strong, ongoing relationship with Summit Ridge Energy and are excited to develop more projects in the future as we look to grow and expand B&W’s presence in the community solar industry,” said Jimmy Morgan, Executive Vice President and Chief Operating Officer, B&W. “We appreciate the confidence Summit Ridge Energy has shown in B&W’s installation, site coordination and project management expertise and look forward to continuing to work together.” B&W will engineer, procure and construct the six photovoltaic solar projects, with completion scheduled for 2024. “As Summit Ridge Energy continues to expand our solar leadership in Illinois, we’re pleased to partner with B&W on another EPC contract,” said Raj Soi, Executive Vice President of Operations, Summit Ridge Energy. “We are proud of our work to create new jobs in Illinois, invest in the local economy and provide solar power savings to more than 20,000 households and businesses.” With more than 100 solar projects installed, B&W offers reliable system design, construction and optimized system integration. B&W is committed to providing forward-thinking solar solutions, outstanding service, and quality construction with safety as a top priority. Summit Ridge Energy is the largest commercial solar developer and owner-operator in Illinois, with an energy portfolio of more than 250 megawatts across the state. Summit Ridge Energy has invested over $900 million in Illinois through the development and acquisition of 116 individual solar farms, located across 35 counties. These projects have employed more than 3,500 construction workers and provide solar power savings to more than 20,000 Illinois ratepayers. About Babcock & Wilcox Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide. About Summit Ridge Energy Launched in 2017, Summit Ridge Energy is the nation’s leading commercial solar company. Through its strategic partnerships and project financing expertise, the company develops and acquires pre-operational projects within the rapidly growing solar energy and battery storage sectors. In the past six years, Summit Ridge Energy has deployed over $1.6B USD into clean energy assets. With a development pipeline of more than 2 GW, Summit Ridge Energy will have more than 400 MW of PV online by the end of 2023, providing solar power to 50,000 homes.

Read More

Energy

Nexamp Named #1 Community Solar Company by Solar Power World Magazine

prnewswire | July 31, 2023

Nexamp, a leading clean energy solutions provider, has been awarded the prestigious title of "#1 Community Solar Company" by Solar Power World magazine. This recognition highlights Nexamp's foundational commitment to advancing renewable energy accessibility, environmental stewardship, and community empowerment. Since its inception, Nexamp has set out to transform the way individuals, businesses, and communities access and utilize solar energy. By developing innovative solar projects nationwide, the company has consistently broken barriers and created opportunities for a greener future. The company's extensive portfolio of community solar installations stands as a testament to its vision of a cleaner, more sustainable grid. The Solar Power World list is developed each year to honor the work of solar companies in the United States. Solar firms in the utility, community solar, and residential markets are ranked by the number of kilowatts they installed in the previous year. Companies are grouped and listed by specific services, markets, and states. "Earning the top spot on this list is an honor," said Zaid Ashai, CEO of Nexamp, "and as always, it shows our commitment to our mission. With an industry-leading community solar program and our growing suite of decarbonization services, we are proud of the way we continue to revolutionize the grid by developing, building, owning, and operating the solar and storage solutions of tomorrow." 2023 so far has been one of the busiest in Nexamp's history, surpassing the company's previous single-year record for megawatts of new projects turned on in just the first two quarters. Since its founding in 2007, Nexamp has installed more than a gigawatt of solar capacity. "Renewable energy accounts for a quarter of U.S. electrical generation, now far exceeding electricity produced by burning coal," said Kelsey Misbrener, managing editor of Solar Power World. "Solar power is an important member of that renewable makeup, and companies on the Top Solar Contractors List are all contributing to our country's shift to cleaner electricity. We are honored to recognize them each year for their necessary work putting green kilowatts on roofs, over parking lots, in desert locations, and across water reservoirs. Every project is making a difference." The United States reported its strongest first-quarter ever in Q1 2023 for solar installed, and industry analysts expect the solar market to triple in size over the next five years. The industry will continue to lead the way in rebuilding our infrastructure to ensure a cleaner grid. AboutNexamp Nexamp is leading the transformation to the new energy economy with proven solutions for the deployment and operation of solar energy assets. Our comprehensive capabilities span the entire solar project lifecycle – from project development, design and construction, through financing, operations, and maintenance. Our integrated, best-in-class solutions make solar energy simple and profitable for our clients and partners and make an impact every day. With a rapidly expanding network of property owners, businesses, communities, and residents benefitting from our growing portfolio of solar assets across the US, Nexamp is laying the groundwork for a cleaner, more secure energy future.

Read More

Solar+Storage

Bidgely and GridX Partner to Optimize Electricity Costs for a Clean Energy Future

businesswire | August 02, 2023

Bidgely, the leading provider of AI-powered energy intelligence solutions, and GridX, the leading enterprise rate platform provider to modern utilities, have announced a partnership to deliver enhanced energy cost accuracy and control for utilities and their customers. By combining behind-the-meter consumption insights with highly accurate cost insights, utilities can implement grid management initiatives, such as cost-based load shifting and time-varying rates, that keep energy reliable and affordable for consumers. "Motivating consumers to make smarter energy decisions is paramount to achieving utility decarbonization goals,” said Chris Black, CEO of GridX. “Through our partnership with Bidgely, we are further reducing the mystery of how a consumer's energy choices correspond to their energy bills or grid impact. This results in a win for everyone. Customers get lower bills, utilities get more life out of their existing infrastructure, and customers and utilities are in sync in achieving their decarbonization goals.” Bidgely’s UtilityAI™ Platform, which provides hour-by-hour energy insights into customers’ usage patterns at the appliance level, combined with GridX’s industry-leading rate engine enables utilities to execute demand-side management strategies critical for supporting decarbonization and electrification goals. This integration enables utilities to: Improve rate analytics for tailoring new and existing plans to customer needs and utility objectives. Give customers rate comparisons that project the detailed impact to their bill across different rate options. Personalize cost simulations that inform customers on how potential changes impact future bills, for example: EV purchases, HVAC upgrades, solar PV and Time-of-Use enrollment. Deliver accurate appliance-level cost breakdowns across the bill cycle and hourly levels. Unlocking behind-the-meter cost savings opportunities also bolsters satisfaction and trust among utility customers. Through highly precise bill projections, rate comparisons and energy efficiency recommendations, consumers can understand how their individual usage affects bill statements and better control their energy costs. “Restructuring rate plans for better load shifting has become an imperative utility initiative, especially as electric vehicles, appliance electrification and weather-related grid strains become more prolific. By partnering with GridX, we are teaching consumers that when they use energy is as important as how much energy is used, and we are giving every kilowatt-hour consumed a dollar value to help drive simple and actionable behavioral changes,” said Abhay Gupta, CEO of Bidgely. About Bidgely Bidgely is an AI-powered SaaS Company accelerating a clean energy future by enabling energy companies and consumers to make data-driven energy-related decisions. Powered by our unique patented technology, Bidgely's UtilityAI™ Platform transforms multiple dimensions of customer data - such as energy consumption, demographic, and interactions - into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From a Distributed Energy Resources (DER) and Grid Edge perspective, Bidgely is advancing smart meter innovation with data-driven solutions for solar PVs, EV detection, EV behavioral load shifting and managed charging, energy theft, short-term load forecasting, grid analytics, and TOU rate designs. Bidgely’s UtilityAI™ energy analytics provides deep visibility into generation, consumption for better peak load shaping and grid planning, and delivers targeted recommendations for new value-added products and services. With roots in Silicon Valley, Bidgely has over 17 energy patents, $75M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential and commercial customers around the world. About GridX, Inc GridX partners with utilities and energy suppliers to transform their businesses and accelerate the clean energy transition. The company’s Enterprise Rate Platform helps these organizations to develop new products and business models to achieve their clean energy goals; quickly operationalize new offerings in their billing and settlement processes; and better engage with their customers for broader program adoption. GridX’s platform is used by leading utilities, retail energy suppliers and energy ecosystem OEMs to serve more than 25 million homes and businesses.

Read More

Solar+Storage, Energy

Babcock & Wilcox Solar Energy, Inc. Awarded Community Solar Contracts Totaling $20 Million

Businesswire | August 01, 2023

Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE: BW) announced today that its subsidiary, Babcock & Wilcox Solar Energy, Inc., has been awarded contracts totaling more than $20 million by Summit Ridge Energy, LLC, for the engineering, procurement and construction (EPC) of 25 megawatts of community solar energy projects in Illinois. B&W has successfully executed multiple projects for Summit Ridge Energy, including a $15 million community solar project announced in March 2023 and a $20 million project announced in 2022. “We value our strong, ongoing relationship with Summit Ridge Energy and are excited to develop more projects in the future as we look to grow and expand B&W’s presence in the community solar industry,” said Jimmy Morgan, Executive Vice President and Chief Operating Officer, B&W. “We appreciate the confidence Summit Ridge Energy has shown in B&W’s installation, site coordination and project management expertise and look forward to continuing to work together.” B&W will engineer, procure and construct the six photovoltaic solar projects, with completion scheduled for 2024. “As Summit Ridge Energy continues to expand our solar leadership in Illinois, we’re pleased to partner with B&W on another EPC contract,” said Raj Soi, Executive Vice President of Operations, Summit Ridge Energy. “We are proud of our work to create new jobs in Illinois, invest in the local economy and provide solar power savings to more than 20,000 households and businesses.” With more than 100 solar projects installed, B&W offers reliable system design, construction and optimized system integration. B&W is committed to providing forward-thinking solar solutions, outstanding service, and quality construction with safety as a top priority. Summit Ridge Energy is the largest commercial solar developer and owner-operator in Illinois, with an energy portfolio of more than 250 megawatts across the state. Summit Ridge Energy has invested over $900 million in Illinois through the development and acquisition of 116 individual solar farms, located across 35 counties. These projects have employed more than 3,500 construction workers and provide solar power savings to more than 20,000 Illinois ratepayers. About Babcock & Wilcox Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide. About Summit Ridge Energy Launched in 2017, Summit Ridge Energy is the nation’s leading commercial solar company. Through its strategic partnerships and project financing expertise, the company develops and acquires pre-operational projects within the rapidly growing solar energy and battery storage sectors. In the past six years, Summit Ridge Energy has deployed over $1.6B USD into clean energy assets. With a development pipeline of more than 2 GW, Summit Ridge Energy will have more than 400 MW of PV online by the end of 2023, providing solar power to 50,000 homes.

Read More

Energy

Nexamp Named #1 Community Solar Company by Solar Power World Magazine

prnewswire | July 31, 2023

Nexamp, a leading clean energy solutions provider, has been awarded the prestigious title of "#1 Community Solar Company" by Solar Power World magazine. This recognition highlights Nexamp's foundational commitment to advancing renewable energy accessibility, environmental stewardship, and community empowerment. Since its inception, Nexamp has set out to transform the way individuals, businesses, and communities access and utilize solar energy. By developing innovative solar projects nationwide, the company has consistently broken barriers and created opportunities for a greener future. The company's extensive portfolio of community solar installations stands as a testament to its vision of a cleaner, more sustainable grid. The Solar Power World list is developed each year to honor the work of solar companies in the United States. Solar firms in the utility, community solar, and residential markets are ranked by the number of kilowatts they installed in the previous year. Companies are grouped and listed by specific services, markets, and states. "Earning the top spot on this list is an honor," said Zaid Ashai, CEO of Nexamp, "and as always, it shows our commitment to our mission. With an industry-leading community solar program and our growing suite of decarbonization services, we are proud of the way we continue to revolutionize the grid by developing, building, owning, and operating the solar and storage solutions of tomorrow." 2023 so far has been one of the busiest in Nexamp's history, surpassing the company's previous single-year record for megawatts of new projects turned on in just the first two quarters. Since its founding in 2007, Nexamp has installed more than a gigawatt of solar capacity. "Renewable energy accounts for a quarter of U.S. electrical generation, now far exceeding electricity produced by burning coal," said Kelsey Misbrener, managing editor of Solar Power World. "Solar power is an important member of that renewable makeup, and companies on the Top Solar Contractors List are all contributing to our country's shift to cleaner electricity. We are honored to recognize them each year for their necessary work putting green kilowatts on roofs, over parking lots, in desert locations, and across water reservoirs. Every project is making a difference." The United States reported its strongest first-quarter ever in Q1 2023 for solar installed, and industry analysts expect the solar market to triple in size over the next five years. The industry will continue to lead the way in rebuilding our infrastructure to ensure a cleaner grid. AboutNexamp Nexamp is leading the transformation to the new energy economy with proven solutions for the deployment and operation of solar energy assets. Our comprehensive capabilities span the entire solar project lifecycle – from project development, design and construction, through financing, operations, and maintenance. Our integrated, best-in-class solutions make solar energy simple and profitable for our clients and partners and make an impact every day. With a rapidly expanding network of property owners, businesses, communities, and residents benefitting from our growing portfolio of solar assets across the US, Nexamp is laying the groundwork for a cleaner, more secure energy future.

Read More

Events