#AI will Play a Significant Role in #Renewableenergy
Sector: (TSXV: $MCLD.V) (OTC: $MCDLF) (NYSE: $ACN) (NYSE: $DE) (NASDAQ: $SWIR)
Point Roberts, WA and Vancouver, BC - March 13, 2019
(Investorideas.com Newswire) Investorideas.com, a global investor news source
covering Artificial Intelligence issues a sector snapshot for AI; looking at
how AI will play a significant role in clean energy and energy efficiency.
The subjects of energy efficiency and renewability are
perhaps more pertinent than ever with the rising spectre of long term
environmental degradation in the form of climate change, as well as excess
costs incurred by waste. But while top-down approaches like the "Green New
Deal" fail to find consensus, technological solutions through artificial
intelligence are addressing the problem head-on, in a multitude of innovative
applications.
An article from T&D World Swagath Navin
Manohar, Research Analyst for Energy & Environment, quotes on how
leveraging AI allows energy providers to amend and improve consumption:
"In addition to making the
electricity system intelligent and flexible, AI algorithms help utilities and
energy companies understand and optimize consumer behavior and manage energy
consumption across different sectors,” he said. "Meanwhile, complex
machine learning algorithms combined with real-time weather data from
satellites, ground-based observation, and climate models can be used to
forecast the electricity generated by RES like wind, solar, and ocean."
Read this in full
at https://www.investorideas.com/news/2019/artificial-intelligence/03131AIEye-RenewableEnergy.asp
Exemplifying
Manohar’s claim is Google, whose US wind farms have been boosted “roughly 20
percent” by DeepMind’s AI system, according to Forbes. According to the
piece, DeepMind’s AI system utilizes “a neural network trained on widely
available weather forecasts and historical turbine data - can predict wind
power output 36 hours ahead of an actual generation with a reasonable degree of
accuracy.”
Universal
mCloud Corp. (TSXV:MCLD) (OTC:MCLDF), through its
AssetCare platform, aims to optimize energy consumption by as much as 20
percent in commercial buildings using a blend of AI, IoT and cloud computing.
In an interview with Investorideas.com, company CEO, Russ McMeekin, explained
how implementing IoT in a building’s thermostat system allows for less energy
waste.
“You
replace … thermostats with smart or IoT thermostats, and those are connectable
through either 4G, 5G, LTE or WiFi directly to the cloud,” he said. “In real
time, buildings get optimized to use less energy.”
McMeekin
also indicated that mCloud’s tech enables buildings to detect problems ahead of
time and fix them before they cause a disruption.
“It
drives preventative maintenance,” he said. “The data shows that behavior is
about to change in the assets, so before failure occurs maintenance can begin.”
Listen to
Interview:
Elsewhere,
communications company Sierra Wireless (NasdaqGS:SWIR) (TSX:SW) provides Swedish power
company Vattenfall with smart meter IoT technology that collects “accurate and
timely electricity meter readings” giving the latter “full control of data
availability”. In addition to the savings afforded to the company with more
efficient data collection, Vattenfall Business Area Manager Erik Nordgren
explains how it improves the consumer’s experience:
“Vattenfall is
dependent on collecting meter information from close to 1,000,000 customers all
over Sweden. Flexibility, when it comes to the service provider is crucial for
us in order to guarantee our customers the best services at all time.”
An
article from CIOL describes how
Accenture (NYSE:ACN) Applied
Intelligence makes use of AI and machine learning in a ventilation system for
Metro de Madrid. The system has reduced the Madrid transit system’s “energy
costs for ventilation by 25 percent and cut CO2 emissions by 1,800 tons
annually.” Isaac Centellas, Head of The Engineering and Maintenance Division at
Metro de Madrid, commented:
“With help from
Accenture, the innovative ventilation system has enabled us to achieve the dual
benefits of lower energy costs and a reduced environmental impact. Ensuring the
comfort of our passengers while being highly energy-efficient and
environmentally friendly is a true win-win outcome.”
John
Deere (NYSE:DE) demonstrated its
commitment to energy efficiency last summer with the publication of sustainability
goals
it’s aiming to fulfill by fiscal 2022. Listed among the goals is: “Reduce GHG
emissions by 15 percent through 50 percent renewable electricity supply and
excellence in energy efficiency.” A way in which the company is tackling this
is their implementation of AI technology
in farm equipment, which among other things, allows robots to more efficiently
use pesticides that have an adverse effect on the environment and human health.
There
are many angles from which the ongoing problem of energy consumption and its
attendant risks, are being addressed, but artificial Intelligence and related
tech solutions are already well on their way to being implemented and are
making palpable differences in terms of waste reduction and cost savings.
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