Of all the things that have gotten people talking the past few years regarding technology, few surpass AI and energy efficiency on the list. Artificial intelligence can be found in more and more industries and is often seen as an integral aspect of business. With more ways to power businesses and environmental factors playing a larger role in the minds of employers and employees alike, we are quickly coming into an age where these two technological behemoths meet.
AI is engrained in so many technologies including those that power your smartphone, Uber, a flight’s autopilot, and voice-activated assistants like Google’s Alexa. Chances are you’ve heard of AI’s contributions to these technologies. What you may have never heard of is artificial intelligence’s contributions to energy efficiency. Through machine-learning techniques, AI is making its impact known in this sector. Here’s how.
Reinforcement Learning
Reinforcement learning (RL) builds algorithms in two ways, by using dataset training to optimize performance and mathematical functions to optimize performance. This type of AI learning excels in complex tasks and only needs a few tools to exceed, including constraints, rules, and interaction. Once it has those, it can then continue to learn and improve its functions.
Benefits to Wind and Solar Generation
If there’s one thing AI and computers are good at, it’s making predictions from data it’s given. Now companies are turning the computing and analysis power of AI towards wind and solar power to improve its efficiency and to cut down on costs. Using weather forecast data, AI can predict the best times to schedule electricity deliveries to the grid 3 days in advance, essentially making it into a commodity. When putting this knowledge into practice, the value of this type of power increases, and companies can save on the costs of operating equipment by minimizing time spent working during nonprofitable hours.
Solar Plus Storage
When used as a system management tool for solar plus storage systems, AI significance skyrockets. It has the potential to enhance control, flexibility, and deliver predictive optimization to various aspects of projects, including power generation, storage, and purchasing, if given enough information.
By applying reinforcement learning to solar plus storage, AI can generate up to 50% additional revenue. The subtle or even drastic changes this technology can apply by analyzing a company’s data can quickly transform business finance and strategy to make it much more profitable and efficient.
What the Future Holds
Reinforcement learning is here to stay, especially in the energy sector. As software solutions become more refined and widely adopted, AI and RL can create greater efficiencies, more revenue and profit, and make predictions farther into the future to help companies improve their strategies on a long-term scale.
While some industries have long been using AI, the energy sector is only just beginning to incorporate this useful tool into their businesses. It won’t be long before its incredible implications begin to make major breakthroughs and generate more positive impacts within a variety of industries.