By: Rubina Obaid
The technological advancement of artificial intelligence has already arrived in the various sectors of energy which has the potential to further advance the integrated energy transition. The recent study examined the technical development status and the cost-benefit analysis for nine specific areas of application and provided some recommended action plans.
Electricity production with the conventional approach is bringing massive side effects on the global climate. With the advantages of minimum carbon footprints, renewable energy turned out as a feasible solution to make it an environmentally friendly alternative. In the past decades, numerous sources of renewable energy have been discovered such as wind, solar, geothermal, biomass and hydropower. Due to the cost-effectiveness of renewable energy sources, it is expanding at a much faster pace with efficient technological advancement. The success of renewable energy application greatly depends upon the load, which can be extracted sufficiently high power to keep high energy conversion efficiency. The application of artificial intelligence approaches will add additional performance and improvement into the world of renewable energy.
The technological advancement of artificial intelligence has already arrived in the various sectors of energy which has the potential to further advance the integrated energy transition. The finding of a recent analysis by the German Energy Agency which is titled as “Artificial Intelligence-from Hype to Reality in the Energy Industry”. The study examined technical development status and the cost-benefit analysis for nine specific areas of application and provided some recommended action plans. In order to establish artificial intelligence determinedly in the energy industry in the future requires an extensive exchange between stakeholders, pilot projects and sustainability projects.
According to the chief executive of dena Andreas Kuhlmann, “Initial positive examples from the energy industry show that AI can drive new business models, accelerate innovation and help increase the potential for efficiency. However, it will only make a substantial contribution to the integrated energy transition if it is allowed free rein now and positive experiences from initial applications are transferred to other segments of the energy system. The exchange and transfer of knowledge between stakeholders from the digital and energy industries are particularly important in this regard.”
One of the greatest contributions of artificial intelligence (AI) in the energy sector, is to help in forecasting and optimizing operations and inventories. Thus, it can be used to predict the demand and production of fluctuating renewable energy and specifically for power generation and trading purposes. Further, the technology offers innovative opportunities in grid operations and dissemination of sensor data. Artificial intelligence can also contribute to improve local grid utilization and detect critical conditions earlier. However, the process of maintenance and safety are still in the phase of research due to the higher complexity.
Also in the field of allocating renewable energy certificates, sales, and consumer services, AI is playing a pivotal role for automating reading and billing services. It also helps in the area of improved customer and service relationships with a great potential of simplifying active participation from the consumers. An example of such a case is the automated sale of self-generated electricity from private PV systems. Hence, the report summarizes the project of using artificial intelligence (AI) in the energy sector to optimize the overall systems. The aim of the research was mainly to expand the knowledge of Artificial Intelligence (AI) in the field of energy while exploring the further potential for the safe transition towards green energy.