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Energy Management Enhanced with AI-Powered Grid Forecasting
Project Summary
The client is a forward-thinking company dedicated to using cutting-edge technology to improve the management and prediction of energy usage in homes and businesses. To change how we understand and optimize energy consumption, they focus on developing and deploying a specialized AI model that predicts energy usage (Grid Forecasting Tool), emphasizing efficiency and sustainability.
Technical Stack
Industry
Information Technology
Region
USA
Project Size
$45,000-$50,000
Highlights
Reduced Manpower Costs
Grid Operations Optimization
Early Energy Source Security
Data-Driven Decision Making
Challenges
Adjusting to the dynamic needs of a household and simultaneously predicting the needs of utilities (energy) at an industrial scale consumed a lot of workforce and marketing spending to adjust to the grid's needs.
Utilization of resources to ensure their optimal usage is what companies & governments are trying to achieve. They can only do so with exact numbers of needed usage, which results in substantial operational costs.
Technical Challenges
Capturing data of the whole grid in a single place while maintaining data from offline sources.
Establishing a data pipeline to take in real-time data for real-time prediction of usage or consumption.
Dividing grids based on sectors and technicalities of processing electrical data was challenging.
Solutions
Our development team proposed two portals to cater to domestic consumption needs and another to predict industrial utility demand. There were, in total, three AI models working together to predict domestic demand and appliances each household can have to analyze future consumption. This combination of models will then be able to accurately predict the type of household appliance use while also predicting exact consumption per hour, day, and week.
The industrial portal did not rely solely on electricity consumption; it also had water, gas & fossil fuel consumption as part of utility prediction. Our AI engineers developed four different AI models that fed prediction data to the portal & required decisions were taken based on in-portal analytics.
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