Energy Storage and AI Benefits for Load Management

As more energy storage is deployed on the grid, many challenges will need to be met and overcome. Artificial intelligence can engage significant benefits to the energy storage industry and help accelerate the its growth. This will be reflected in improved load management capabilities for the energy industry

Predicting Demand

By analyzing historical information and melding it with real-time data, AI can predict changes in future energy storage demand and enable energy producer to make better decisions. AI can also analyze variables such as weather, electricity consumption, and prices, learn to predict future demand trends, and evolve the effectiveness of energy storage and operating models.

Optimizing Energy Storage Systems

AI can optimize the operation and performance of energy storage systems. Through real-time monitoring data and highly automated control inputs, the system can optimize the charging and discharging strategy of energy storage units, maximize energy storage efficiency and capacity utilization, and remove energy waste which will reduce costs.

Storage as a Solution to the Fossil Fuel Dilemma

AI-based improved efficiency and load management will displace the need for fossil fuels in the power production system. A good example is island nations – which have to import fossil fuels to power their economy – such as Malta, which relies on imported gas and an interconnector to Sicily and thus to the entire EU energy market. By moving to renewable power and storage (to time-shift power from solar in the day to the evening peak, for example) the import of fossil fuels can be considerably reduced. A pilot project of this kind, using FluenceEnergy battery systems, is already in operation in the Spanish Azores islands, which enables the island to reduce annual diesel consumption by 1,150 tons, leading to a yearly decrease in CO2 emissions of more than 3,500 tons.

Increased efficiency and AI-based optimization of resource use will be a major growth area for utilities dealing with the complexities of the energy transition in a difficult economic climate.