As our energy consumption patterns undergo fundamental shifts, it is crucial to adapt our way of living accordingly.
AI Power offers a transformative solution that not only impacts our electricity bills but also promotes sustainability in green energy.
In this section, we delve into key aspects that support our vision, providing valuable context and data-driven insights.
What is going on?
Energy consumption is undergoing a fundamental change.
Electricity is increasingly vital since facilities, appliances, and equipment are pivoting to use electricity as an energy source. Electric cars and heat pumps are replacing conventional fossil-fuel systems.
Power generation and consumption must always be balanced so that our electric grid is always stable. However, during periods with the highest load, the local energy grid struggles to cover our electricity needs.
Electricity from renewable sources is also produced when there is little demand.
The electric infrastructure is old and can be overwhelmed when energy is highly utilised.
Currently, there is no storage capacity, neither locally nor regionally, that can compensate for the overload in the grid during peak hours.
We can help solve grid overload by redistributing the grid's load and moving it away from peak hours.
A combination of AI-based software and hardware can help consumers to effortlessly:
purchase electricity when power is greener and cheaper.
store energy locally and use it when the demand and the prices are at the highest.
Solving a fundamental need for change
When to shop for electricity
The electricity demand is highly variable during the day. We can observe in the graphic that during late night and early morning, the use is quite low in comparison to the peak around 18:00.
The hourly price of energy usually follows the demand fluctuation pattern. Therefore, the higher the electricity demand, the more expensive it is.
You can check the price forecast by clicking here.
The electricity from renewable energy sources fluctuates greatly depending on the wind and weather. Especially if the wind fiercely blows or the sunlight is powerful that day, the prices can go near zero.
The daily changes in demand make the prices oscillate even more. It is common to see the hourly electricity price go very low late at night and early morning because most people are resting and there are fewer active appliances in their homes.
Green energy sources are gradually increasing their share of total electricity production in Denmark. In the last ten years, wind and solar power doubled their contribution, and today more than half of the generation is green.
Furthermore, circa 70% of household electricity is consumed annually in the cold season (between October and March). This is problematic since the sun energy production is limited in this period.
Unlike conventional power plants, wind and solar energy production cannot be increased if the demand increases. This is a problem as production and consumption must balance to stabilise the grid. On the other hand, we see cases where some of the generated green energy are wasted when there is insufficient demand to consume it.
Development in the energy mix
Source: Energinet datahub
A national concern
The Danish government has implemented a law allowing grid companies to add tariffs on top of electricity prices at specific times of the day when there is higher demand. This was made as an attempt to change people's behaviour to use more energy in periods with lower demand. Moreover, this can mitigate the possibility of a grid imbalance.
Grid companies' tariffs differ and can reach astounding 206 øre per kWh on Sjeland in fall and winter. That means that if we want to keep our energy bill low, we should use as few kWh of electricity as possible at peak hours (usually between 17:00 and 21:00). However, that is the period when most people get home, start cooking, do laundry and watch TV.
CO2 emissions must go down
AI Power helps homeowners, businesses, and the energy industry. They save money on their electricity bill and create independence from high grid load periods and high tariffs while they become more sustainable. As a result, their CO2 emission decreases, and their green footprint grows. We are proud of our clients. They lead the green transition by using our innovative technology to power up their solar setups and batteries, to reach their goals.
We are reaching break-even on household installations, where energy savings pay for the batteries.
The price per kWh is a unit used to measure battery systems' price/capacity rate.
In 2010, the average cost was 1,160 USD/kWh; this number dropped steeply throughout the years. An 87% decrease can be seen until 2018, when the price was around 176 USD/kWh. Furthermore, experts predict that the price will hit 100 USD/kWh by 2023.
There is a great effort put into research to optimise energy storage technologies. Batteries mainly installed in cars are driving the change, and the low price points towards domestic installations can gradually help stabilise the power grid.
AI Power is part of the solution
Intelligent savings on sustainable green energy
Our system takes advantage not only of those heavily windy days (which are pretty standard in Denmark) but also of the low demand and low tariffs during the late night and early morning.
The setup is fed with the forecast of electricity prices, demand, and regional tariffs. With that data, the algorithms use the households AI profiles and calculate when it is a perfect time to buy cheaper energy and store it in a cutting-edge lithium battery system.
Then, the system uses the energy from the battery when the prices are at their highest during peak demand hours.
Together we can contribute to better use of green energy by absorbing the excess electricity produced when there is low demand, and this will help stabilise the grid. Thus, with more households using our system, we might significantly impact the sustainability of renewable resources.
AI Power technology helps to replace conventional power plants and makes an essential contribution to the energy transition.