LATHIK CARTEL PRIVATE LIMITED

In their own words

Reduction of Energy Consumption through Artificial Intelligence (BY – LATHIK CARTEL PRIVATE LIMITED) Artificial Intelligence helps in analysing massive amount of data and offer helpful insights to make intelligent choices. In the renewable energy sector, the role of AI integrated systems is to minimize the forecasting challenges and efficiently integrate renewable energy into the central energy grid. Three major categories of renewable technologies which incorporate AI are Energy Forecasting – Industry data is used to train AI algorithms to make accurate forecasts, helping to inform power supply and demand Energy Efficiency – AI is used to track and optimize how energy efficiency Energy Accessibility – AI is used to model utility cost savings and provide recommendations for smart home investments NEED TO REDUCE ENERGY CONSUMPTION There is an environmental need to reduce energy consumption. Global warming is becoming more of a current focus, and to reduce its impact we need to reduce our energy consumption. Moreover, conserving energy produces a higher quality of life. Reduced emissions result in cleaner air quality and create a healthier planet. AI INTERSECTS WITH RENEWABLE ENERGY Energy storage greatly helps to solve issues related to the intermittent nature of Solar or Wind as energy sources, because of the irregular alternation of production phases with non-producing periods. Nevertheless, the periodic and chaotic dynamics not only of these sources but also of the demand-side itself, battery hardware alone does little to unlock the true energy value. The complexity of the situation makes it difficult for a simple solution or a single technology to become the savior. The fundamental key to unlocking that value is proper control of the energy storage and the complex dynamic nature of the (production-consumption) system through sophisticated software. This is where “intelligence” (and not simple control) is required in the form of Artificial Intelligence (AI). Pairing Renewable Energy with AI-driven storage could be the change in paradigm that differentiates projects going forward. We can call that “Intelligent Energy Storage” or IES. AI WILL INCREDIBLY LOWER ENERGY BILL AI enable automatic learning algorithms, combined with data on complex networks and real-time meteorological data (from satellites, ground observations and climate models), to be exploited with the full potential to predict the electricity generated by RES, such as wind, sun and oceans. Combined with other technologies such as Big Data, the Cloud and the Internet of Things (IoT), energy storage with AI play an important role in power grid management by improving the accessibility of power source, renewable energies. Today one of sustainable and reliable solutions is Intelligent Energy Storage, where artificial intelligence will be the brain. This “Smart grid with energy storage” will continuously collect and synthesize huge amounts of data from millions of smart sensors to make timely decisions on how best to allocate energy resources. In addition, advances made from “deep learning” algorithms, a system in which machines learn by themselves from pattern and anomaly markings in large data sets, will revolutionize demand and supply of the energy economy. FUTURE WITH AI IN RENEWABLE ENERGY SECTOR AI influences the future of society where the interface between AI and energy storage is an excellent starting point. Technological innovation is radically changing the way we think about these two industries and their integration is in its infancy. Their synergy can change the world as we never know it and open up opportunities while improving its sustainability toward a Smart and Resilient Grid! AI is changing the way we interact with each other, the way we interact with objects (Internet of Things), and this start-up plan is a step towards - change the way we interact with our planet.

Written by the company on its public Startup India profile. Not verified by us.