#AI and Machine Learning; Saving Companies Green and
Keeping it Clean: (NYSE: $GE) (TSXV: $MCLD.V) (OTCQB: $MCLDF) (NYSE: $EXC)
(NASDAQ: $SPWR)
Point Roberts, WA and Vancouver, BC - March 27, 2019
(Investorideas.com Newswire) Investorideas.com, a global investor news source
covering Artificial Intelligence issues an AI industry snapshot, looking at how
AI will play a significant role in clean energy and energy efficiency.
As clean and efficient energy becomes increasingly
important to consumers from ongoing environmental concerns, and in the interest
of affordability, more and more companies look to employ AI and machine
learning technology to keep abreast with demand.
Read this in full at https://www.investorideas.com/news/2019/artificial-intelligence/03271AIEye-MachineLearning.asp
Veteran multinational General Electric (NYSE:GE),
through its utility analytics digital energy solutions combines AI with
state-of-the-art machine learning capabilities to "deliver predictive and
prescriptive insights." In an article on Utility Dive on data analytics in
the power sector, GE Power Digital Senior Director of Data and Analytics, Matt
Schnugg said: "Data is a linchpin of our collective energy future."
“Data analytics is
already improving utilities' asset performance and is beginning to improve
customer engagement. But the automated and integrated system that will enable
peak performance, energy networks, and connected communities are still to come.
The next step is "enabling advanced analytics" and incorporating it
into AI processing "at hyperscale," GE's Schnugg said.
Another
way AI technology is being leveraged is in the streamlining of alternative
sources of energy, such as wind. Analytics
India
quotes Google DeepMind researchers in a recent article, on how they have
increased efficiency through machine learning:
“Although we continue to refine our algorithm, our use of
machine learning across our wind farms has produced positive results. To date,
machine learning has boosted the value of our wind energy by roughly 20
percent, compared to the baseline scenario of no time-based commitments to the
grid.”
Similar
innovation can be seen by Universal mCloud Corp., (TSXV:MCLD) (OTCQB:MCLDF) which was
recently named as one of TSX
Venture Exchange’s top performing startups in the technology sector. The
company has signed a Memorandum of Understanding (MOU) with Ecotricity
affiliate Britwind Ltd. which will see Universal mCloud upgrade the latter’s
wind turbines with AI and analytics. Called rEsolve, the upgrade enhances the
operation of Britwind’s 1,000 Endurance E-series turbines alongside a 5-year
warranty. mCloud’s Chief Growth Officer, Costantino Lanza commented:
“mCloud’s
expertise in AI and analytics for wind applications complements Britwind’s
strengths in the manufacturing and maintenance of wind turbines,” said
Costantino Lanza, mCloud’s Chief Growth Officer, who is also leading mCloud’s
activities in the Smart Wind segment. “Our AssetCare™ for Wind solution will
connect Britwind turbines to help their customers achieve peak performance.”
But
it’s not only wind energy that is benefiting from the application of AI
capabilities. A report from Research
and Markets
projects that the solar power market in the Americas, for instance, is expected
to expand at a compound annual growth rate (CAGR) of 19.2 percent between
2018-2022 in terms of total installed capacity in select countries. A piece
from nanalyze looking at AI in
renewable energy highlights SunPower Corporation (NasdaqGS:SPWR), and how it is
leveraging AI and other technologies:
“The Silicon
Valley-based company recently built a new solar research facility. One of the
key tools at the new $25 million facility involves quality control over the
photovoltaic cell manufacturing process. AI is used to analyze the process to
not only ensure a quality product, but to provide new insights to improve the
technology over time. Incidentally, SunPower is embracing all kinds of emerging
technology, including the use of drones to survey potential solar power farm
sites in order to create more efficient designs. No doubt engineers will employ
machine learning there as well, maybe through HST Solar or just buy the startup
outright.”
Elsewhere,
Constellation, an Exelon Corporation (NYSE:EXC) employs
third-party Pear.ai’s “virtual energy agent”, Sam, to converse with customers,
allowing them to ask questions and gain insights regarding energy costs. Chris
Buzby, Senior Manager of Corporate Strategy, Innovation, and Sustainability at
Exelon wrote in a Constellation blog
post
earlier this year:
“Constellation is
looking at AI to decrease our customers’ energy costs and to optimize the many
tasks they perform on a regular basis. As we think about the cost for our
customers, it is easy to just think about the price per kilowatt-hour, but we
know our customers think about more than just that number. They are interested
in ways to be more efficient or to decrease capacity costs and other
energy-related costs.”
Though
surely still in the earliest stages of adoption, AI can already be seen to have
made gains for both wind and solar energy markets with data analytics, as well
as on the consumer-end, helping to both reduce costs and promote greater energy
efficiency.
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