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How Does AI Contribute to the Efficiency of the Utility Industry?

By CIOReview | Thursday, January 14, 2021

AI has spread its branches in almost every sector of every industry. Following them, utility companies are also looking forward to deploying it.

FREMONT, CA: It has become a global endeavor for companies to harness renewable energy. However, in spite of these efforts, the utility companies are still unable to crack the code that can lead to renewable energy sources completely supplanting fossil fuels.

Fortunately, AI-based technologies have got the potential to bring improvement in the sector in terms of predictability. Besides, they can also lead to industry-wide enhancements that make renewable sources of energy more practical on a broader scale.

How can AI assist the utility industry?

AI and ML are significantly helping the utility industry in managing the series of multiple factors affecting renewable energy.

By assessing massive amounts of meteorological data and using this data for making predictions, AI improves the reliability of wind and solar power. AI provides utility companies with these insights, which enable them to better serve their customers by eliminating the guesswork from the procedure of allocating, storing, and distributing green energy.

After deploying AI across all the departments of the company, the utility company can use AI in incorporating microgrids and managing distributed energy. As an enterprise adds energy generation technologies from the community and local levels to bigger grids, energy flow can make the system unstable. The companies can enlist AI in assessing grids before and after they absorb smaller units, and in operating to decrease congestion. In this way, the companies can balance these surges of power in the most proficient way.

By allocating and assessing data for determining the best batteries for power allocation, AI can improvise energy storage. While functioning as a tool for examining and regulating energy storage, AI also maps the ideal layout for new energy farms and storage spaces as the enterprise scales.

Hence, utility companies should start deploying AI as soon as possible. It will not only empower the companies to reduce costs but also expand access to renewable power and preserve the natural environment.

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