Revolutionizing Power Forecasting with AI: Algo8 and POSOCO's Game-Changing Partnership in the Power Sector.
Industry 4.0: The Digital Revolution Transforming the Power Sector?
Since the days of the Industrial Revolution, technology has come a long way. We are currently in the midst of another industrial revolution known as "Industry 4.0." Digital transformation, the integration of digital technology into all areas of a business, is the driving force behind Industry 4.0, resulting in fundamental changes to how businesses operate and deliver value to customers. It entails enhancing business processes, products, and services through the use of technologies such as artificial intelligence (AI), the Internet of Things (IoT), and cloud computing.?
In the context of the power sector, which is a critical part of any economy, the need for efficient and reliable power generation is more important than ever due to the ever-increasing demand for electricity. AI can efficiently and effectively deal with the complex and dynamic nature of power grids, maintaining a balance between supply and demand. In recent years, AI has emerged as a game-changer in the power sector.??
Powering the Future: POSOCO's Role in Managing India's Power Grid?
POSOCO, or Power System Operation Corporation Limited, is a leading Indian state-owned company responsible for managing the national power grid. It is responsible for ensuring the integrated operation of the Indian power system by facilitating the transfer of electric power within and across regions. Additionally, POSOCO manages the power transmission network, ensuring that power is efficiently and reliably transmitted to the different regions of India. Throughout its varied operations, the company also faces numerous challenges, such as dealing with the variability of renewable energy sources, managing power outages, and ensuring a stable power supply.??
?
The Power of SCADA Data and AI in Power Generation Forecasting?
POSOCO forecasts power generation in advance, using Supervisory Control and Data Acquisition (SCADA) data on power generation. As a transmission company, POSOCO doesn't generate power but is responsible for ensuring the electricity grid runs smoothly, It achieves this by efficiently managing the transmission of electricity from generators to distribution companies.?
Being a transmission company, the SCADA data that POSOCO collects pertains to the operation of the power transmission system, like information on power flows, voltage, frequency, outages, faults, switching operations, alarms, and events.
Given the large volume and diverse structures of such data, AI techniques such as machine learning are best suited for their analysis and use. This data analysis can be used for a variety of purposes, including fault detection, predictive analytics, predictive maintenance, power quality monitoring, and in this case, power generation forecasting, which is achieved mainly by improving the quality of the input data since the quality of the power forecasting highly depends on the quality of the input SCADA data to the forecasting model. If the forecast model is fed inconsistent or bad-quality data, it may hamper the projected power generation, leading to imbalances in the grid, power outages, and even damage to equipment.??
?
Algo8's AI Solution: Revolutionizing Energy Management in the Power Sector?
Algo8’s AI platform “PlantBrain†enables proficient?energy management solutions by facilitating seamless integration between data sources and a data cleaning engine, thanks to custom connectors that fetch historical data for raw weather and generation data. This integration reduces data silos and enables real-time analysis of data from multiple sources, making it more easily accessible and comparable. Moreover, the solution provides real-time alerts to keep users informed of any changes in the data, ensuring that the forecasting process is based on up-to-date and accurate information.?The AI can uncover patterns and relationships that might not be visible through manual methods. It detected anomalies in input data and generated missing data/repaired anomalies to ensure that the input data used for power forecasting is accurate and of the highest quality, which in turn improves the accuracy of the power generation forecasts.??
Improving Efficiency and Reducing Costs with Algo8's AI Algorithms??
The Algo8 solution uses a combination of machine learning algorithms and big data analytics to provide insights into energy demand and supply, which enables POSOCO to make better decisions about transmission and distribution, thus improving energy efficiency and reducing costs. Our solution assisted POSOCO in accurately estimating and correcting imbalances in the power grid, caused by the intermittency of renewable energy sources like wind and solar. By mitigating these fluctuations, our solution enhances the viability of renewable energy as an alternative source of power.?
?
Clean Data, Accurate Forecasts: The Key to Grid Stability and Renewable Energy Optimization?
The project's functionality and features included a data cleaning engine and a UI screen to monitor alerts and actions taken by the engine to clean data.? Historical data was also provided on click, providing insight into month-old data to the user.?
领英推è
The benefits of the solution are significant since high accuracy of power generation forecasts reduces the risk of grid instability and power outages. It also helps in the optimization of the use of renewable energy sources, which is essential for meeting India's ambitious renewable energy targets. Furthermore, our solution empowered POSOCO with critical decision-making support, allowing them to make informed choices based on data analysis. This improved their operational efficiency and helped them optimize their grid management strategies for better outcomes.?
The project generated 97% clean input data, leading to higher accuracy in generation forecasting, real-time data quality estimation and correction with high accuracy, and a 2% increase in solar power utilization due to increased reliability. With the potential to replicate the solution for all RE control centers managing standalone Photo Voltaic (PV) plants as well as grid-interconnected solar Photo Voltaic (PV) plants, which face bad-quality input data, the project is highly scalable and has high replication potential.?
Algo8's solution offers several economic benefits, including optimal energy scheduling for performance optimization, lower electricity prices, planning and investment decisions, and carbon pricing. Utilities can use the data to identify where to invest in renewable energy projects and how much energy storage capacity they will need to support these projects for energy optimization which can in turn significantly decrease the energy consumption.?
?
ISGF Recognizes Algo8's Innovation in Energy Sector?
The International Smart Grid Action Network Forum (ISGF), is a not-for-profit organization that promotes the development and deployment of smart grid technologies, policies, and programs. It recently held ISGF Innovation Awards 2023 where Algo8 was awarded the platinum award in the category "Adoption of Disruptive Technology/Solution - Utility" for its work with POSOCO. The award recognizes Algo8 as an innovative technology provider in the energy sector and validates its capabilities in adopting disruptive technology solutions, specifically for utilities, and underscores the effectiveness of its AI-based software solutions.?
?
Scaling Up Algo8's Solution: Replicating Success Across the Power Sector?
The power sector is facing a range of challenges in ensuring efficient, reliable, and sustainable energy production and distribution. AI and related technologies, such as machine learning, have the potential to transform the sector by improving power management, efficiency, and transparency, and increasing the use of renewable energy sources. The partnership between POSOCO and Algo8 is an excellent example of how AI-based solutions can help to address specific challenges in the energy sector, such as accurate power generation forecasting as well as energy forecasting. The use of AI in the energy sector is still in its early stages, and there is significant potential for further innovation and growth in this field. As the world continues to transition towards cleaner and more sustainable energy systems, AI will undoubtedly play a critical role in enabling this transition.?
About Algo8
Algo8 is an Industrial Artificial Intelligence company that is augmenting sustainable growth in the process and discrete manufacturing industries. Our AI + First Principles approach has unlocked tremendous business value for over 30 customers, including 6 Fortune 500 companies.
At Algo8, we believe that the power of AI lies in its ability to augment human expertise and decision-making rather than replace it. By combining our AI capabilities with deep industry knowledge and a customer-centric approach, we are able to provide our clients with the insights they need to make informed decisions and drive business growth.
Reliability and Maintenance Specialist in Oil an Gas Industry.AI-ML application consultant in Predictive MIntenance.
1 å¹´Algo8 AI Congratulations for achievements..