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AmextaFinance > Small Business > Artificial Intelligence: Accelerating Clean Energy Transformation
Small Business

Artificial Intelligence: Accelerating Clean Energy Transformation

News Room
Last updated: 2023/11/07 at 11:14 AM
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Martin Hermann is the CEO of BrightNight. He is one of the leading Clean Energy entrepreneurs and experts in the U.S. and worldwide.

Contents
Forecasting Renewable Production And DemandOptimizing Project DesignSmart Grid ManagementOptimizing Energy StoragePredictive Maintenance Through AIFacilitating Energy TradingAccelerated Research And DevelopmentBest Practices For AI In Renewable Energy For LeadersChallenges In AI For Renewable EnergyConclusion

There has been a global surge in the urgency to transition to clean, sustainable sources of power. However, designing, developing, optimizing and integrating these green energy sources into existing power infrastructure presents a unique set of challenges. As the share of renewable power increases in the electric grid, these challenges will continue to grow.

As someone with over 30 years of experience as a renewable power and technology entrepreneur, I am observing an ever-increasing synergy between these two domains. I feel that recent technological breakthroughs have brought us to a point where a sustainable clean energy transition is finally taking shape on a global basis.

Recent hearings in the U.S. Congress have highlighted concerns about the rapid advance of AI across various industries. What has not received much attention, however, is this technology’s immense potential for enabling a clean energy transition globally.

I want to share my experience with AI-powered technology specifically developed for this purpose, as well as my thoughts on the next steps we can collectively take to make it even more impactful.

Forecasting Renewable Production And Demand

AI has been transformative in its ability to forecast and develop more accurate knowledge of available renewable energy at a particular site. Such improvements in accuracy directly translate into better planning by the renewable energy developer and the local electric utility company.

AI has also reshaped the way we analyze and predict power demand. They consider thousands of ever-changing variables like weather patterns, local holidays and historical usage to provide more accurate demand forecasts. This allows power producers and utilities to make informed decisions regarding energy distribution, optimizing their expenses and investments.

Optimizing Project Design

Developing an affordable and reliable clean power generation project, especially one that uses a hybrid approach (e.g., combining solar, wind and energy storage), requires a tailored, system-level approach, which differs from grid to grid and sometimes from utility to utility. These problems are computationally intense and take time to solve. This is the area where AI-powered tools, combined with human expertise and ingenuity, enable us to optimize every project to integrate these complex hybrid generation projects into the power grid, going through millions of possible configurations and scenarios and selecting the best one in a very short time span.

Smart Grid Management

AI can assist in developing smart grids that dynamically adjust to changes in energy supply and demand. Using historical data and real-time information from a wide variety of sources, AI-based grid management systems can predict energy consumption and dynamically adjust power generation and distribution. This ensures a stable energy supply while minimizing reliance on fossil fuels as backup.

Another application of AI is its ability to predict, detect and respond to incidents that disrupt grid operations, such as extreme weather events. This can increase reliability and significantly reduce power disruptions.

Optimizing Energy Storage

Because the sun doesn’t always shine and the wind doesn’t always blow, energy storage systems can be crucial for overcoming this natural limitation. They are being called upon to address multiple jobs—like helping with grid frequency, providing peak capacity and managing the variability of intermittent renewable resources. AI can analyze historical data and current conditions to predict the best times to perform all these jobs and do so in a highly effective way, maximizing the health and life of energy storage projects while delivering the highest value to the grid.

Predictive Maintenance Through AI

One of the biggest hurdles facing renewable energy assets like wind turbines or solar panels is maintenance. These assets are often located in remote areas, making manual inspections labor-intensive and costly. AI-driven predictive maintenance systems can analyze data from sensors embedded in these assets to forecast when they are likely to fail or require maintenance, thus strategically scheduling maintenance activities to minimize disruptions. This not only reduces costs but also ensures higher uptime and efficiency, guaranteeing reliable energy delivery to customers.

Facilitating Energy Trading

AI is already giving rise to decentralized energy trading platforms where individuals and organizations can sell excess energy back to the grid or trade amongst themselves. AI algorithms predict pricing, optimize trade timings and ensure efficient energy redistribution, making clean power more affordable as a result.

Accelerated Research And Development

By simulating countless scenarios and analyzing vast datasets, AI can identify potential breakthroughs in materials science or renewable technology that humans might overlook at speeds that were unimaginable just a decade ago.

Best Practices For AI In Renewable Energy For Leaders

Leaders eyeing the integration of AI should first clearly define their objectives, such as optimizing energy storage, forecasting equipment maintenance or enhancing grid efficiency. Having clear goals ensures targeted AI deployment.

Next, the availability and quality of data should be continuously assessed and validated. For AI to deliver valuable insights, it needs robust, relevant and well-organized data sources.

Lastly, cultivating an organizational culture that prioritizes continuous learning is vital. With the AI landscape swiftly evolving, staying updated with the latest advancements is key to sustained success.

Challenges In AI For Renewable Energy

The intersection of AI and renewable energy offers tremendous potential, but it isn’t without its challenges. A significant hurdle is the expertise gap; successful AI projects in this sector demand a blend of AI proficiency and a deep understanding of energy systems. In my experience, the quality of data is paramount, especially when critical infrastructure is involved. Inaccurate or unrepresentative data can lead AI to offer suboptimal solutions.

Leaders should focus on rigorous data validation and remain open to refining models based on real-world outcomes. Acknowledging and navigating these challenges can pave the way for impactful AI-driven renewable energy technologies and projects. In some cases, partnering with an AI-centric company that possesses deep expertise in this subject matter might be more effective and cost-efficient than developing all necessary technology in-house.

Conclusion

The union of artificial intelligence and renewable energy promises a brighter, cleaner future for power generation and for our planet as a whole. As we stand on the cusp of a clean energy revolution, leveraging the potential of AI can catalyze this transition, making our path to decarbonized power generation smoother, faster and more efficient.

While challenges do remain, I am confident that AI will play a pivotal role in shaping an eco-friendly energy landscape, benefiting not only future generations but also our own.

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?

Read the full article here

News Room November 7, 2023 November 7, 2023
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