Renewable energy is becoming increasingly important today as governments around the world are setting new targets and rules to reduce carbon dioxide emissions. For today, this industry is based on a technology-driven market to integrate renewable energies in our everyday life. We are in a fast-moving world due to the use of artificial intelligence, machine learning, IoT, big data, sensors and other technologies and that is a key to creating a carbon-free world.
In many parts of the world, businesses are generating their own energy using solar panels, wind stations and a range of appliances, which require quick decision making. The need for monitoring energy systems in real time arises, and artificial intelligence algorithms are ideal for this. So, let’s consider some ways AI is changing the renewable energy field.
Prediction and forecasting
Accurate forecasts are vital to any industry, and the renewable energy industry is no exception. Good predictions can help us maximize the use of renewables, improve the reliability of the entire system and reduce our carbon footprint. Using modern technologies and having a great amount of available data make artificial intelligence algorithms an important tool in economical prognosis.
Artificial intelligence programs provide real-time datasets from local stations, satellites and sky cameras. AI allows us to get data for several days in advance.
Cost-saving
Energy traders can benefit from accurate forecasting as it reduces operating costs of generating electricity and energy consumption.
AI allows energy traders to better predict their production volume, enables better demand forecasting and asset management. AI’s automation capabilities help improve operational efficiency, which leads to lower costs.
Optimisation, reliability
AI ensures optimized energy consumption. The data collected using AI algorithms allow us to adapt the work of electrical networks to weather conditions at any time.
AI models can analyze large amounts of historical and real-time data, operate independently of production volume, and automate network optimization with feedback that improves accuracy. This could be the key to reducing electrical congestion.
Demand forecasting
To improve the process of making production decisions and increase efficiency, it is very important to precisely predict the demand for electricity, which can be implemented by artificial intelligence. For end consumers the use of artificial intelligence helps reduce utility bills by optimizing battery systems.
Artificial intelligence algorithms also can predict when consumers mostly need energy which affects the demand flexibility. With the help of AI, people can manage electricity and use it when they really need it based on data collected from sensors in real time mode.
Asset Management
AI can automatically make decisions in the energy industry, which is beneficial for electricity owners. Artificial intelligence controls the renewable energy market instantaneously, and based on analysis of the collected data and forecasting, allows customers to monitor energy prices changes for more productive use of resources.
Artificial intelligence can detect system irregularities and malfunctions almost instantly. It can identify what problems are occurring as well as predict what problems may arise in the future, which greatly simplifies the entire energy system management.
Wrapping up
Artificial intelligence is profoundly transforming the industry of renewable resources, developing better models for demand forecasting and asset management, increasing operational efficiency through automation. AI is ready to transform the entire energy sector in the coming years. Although this technology is just starting to be used in this industry, it has already accelerated the introduction of renewable energy sources. The demand for artificial intelligence algorithms is growing steadily.
