Utilities switch to big data for renewable energy
The output from wind and solar generation can, by nature, vary according to weather patterns. This in turn feeds the nation’s electricity grids with intermittent sources of energy that need careful management.
In response, Melbourne company Greensync has developed a solution to help utilities plan and manage these congested electricity networks, especially at peak times.
Greensync’s approach is to use big data analytics, an approach to computing that identifies complex and previously undetectable relationships between large clusters of information.
Founded in the Melbourne garage of researcher Dr Phil Blythe, Greensync has grown from its humble beginnings to work with companies across the energy and utilities industries.
The company’s cloud-based software tool gives decision makers real-time insights into the performance of energy networks and assets. As a result, network planners can potentially avoid or delay expensive upgrades to network infrastructure.
There’s also an important environmental benefit. Greensync’s software reduces energy consumption by three percent, equivalent to a CO2 reduction of approximately 90,000 tonnes over five years for 10 percent less cost.
The savings are achieved by monitoring for residual loads, and reducing loads at peak times. This helps utilities more efficiently use intermittently available renewable energy sources.
GE recognised Greensync's contribution to better environmental outcomes when Chairman and CEO Jeff Immelt awarded the company $100,000 in March 2013 as part of GE’s ecomagination Challenge, an open innovation challenge where businesses, entrepreneurs, innovators and students share their best ideas on how to reduce carbon emissions.