U+, a worldwide digital innovation business, has released its research “How AI Can Save the Energy Industry Billions in 2022 and Beyond,” which offers specific artificial intelligence (AI) tech solutions that can drastically lower the costs of converting to sustainable energy. Analysts believe AI is critical to ensuring a smooth and cost-effective transition, and they project that AI applications will save investors $1.3 trillion over the next 30 years.
The following are key strategies for increasing efficiency, speeding transition, and lowering costs:
- Renewable power generation and demand forecasting.
- Energy demand management.
- Grid operation and optimization.
According to U+ Founder and CEO Jan Beránek, transitioning to clean energy is a continual inventive process in and of itself, and successful administration of present and future energy solutions need sophisticated, intelligent technology. In order to transition to cleaner energy, he sees a need for novel applications that will aid in the management of renewable-based systems such as powered grids and wind farms.
Governance, design, and deployment of AI must require collaboration across different energy-related businesses, such as electricity, transportation, and construction. Furthermore, consumers must play a role in reducing the global carbon footprint.
U+ has a track record of success in collaborating with firms that use AI to provide greener energy. For the European energy supplier E.ON, examples include developing a smart home app linked to smart energy meters and a virtual solar battery idea for mass-market users.
The paper “How AI Can Save the Energy Industry Billions in 2022 and Beyond” explains how AI can be a main cost-cutting tool for the transition to greener energy. The publication also identifies the firms that U+ has identified as this year’s Top Energy Innovators.
U+ chose its Top Energy Innovators after conducting comprehensive market research using sources such as CB Insights and Crunchbase. Market share, as well as the quantity and timing of money raised, were also taken into account as selection factors.