PAW Climate 2023: Leverage Machine Learning to Reduce Energy Costs
In the past years, there has been an increase in power outages, resulting in brownouts, blackouts, and deadly wildfires. If there are no changes in our energy management practices, this pattern will only increase.
Therma° CEO and Founder Manik Suri was the Keynote Speaker at “The First Conference on Industry Applications of Machine Learning in Climate Tech,” organized by Predictive Analytics World Climate (PAW Climate) from 4-5 October 2023.
In Manik’s keynote speech, he tackled the opportunities for businesses to leverage machine learning paired with sensors and smart plugs to use cooling technologies dynamically. By doing so, businesses can reduce energy consumption, carbon emissions, and operating costs.
Here are some main highlights from Manik’s keynote speech, ““Cooling An Overheated Grid: How Machine Learning is Turning our Buildings into Power Sources:”
The climate crisis is getting worse
It is 66% likely that the annual average near-surface global temperature between 2024 and 2027 will go beyond 1.5°C above pre-industrial levels for at least a year.
Additionally, energy grids are stressed, which means the current demand for energy is putting a strain on the supply. If ignored, grid stress can result in large-scale power outages which can leave whole regions without energy—creating significant economic and public health crises.
Peaker plants are wreaking havoc on the environment
It takes 50% more natural gas to run inefficient gas turbine peaker plants compared to cleaner combined cycle plants. Aside from being inefficient, peaker plants also emit hazardous pollutants, which increase the risk of cancer, heart disease, and asthma, among other health-related threats.
AI’s role in the energy transition
Artificial Intelligence (AI) techniques like machine learning can analyze huge amount of data to predict energy consumption patterns and prescribe preventive measures. These insights are then crucial to the smart deployment of renewable energy technologies.
Discover smart solutions for a sustainable future
Lastly, Manik ended his keynote by presenting an overview of Therma°, Leap, and STEM—three organizations leveraging AI to provide sustainable solutions to businesses.
There are already some businesses contributing to relieving grid stress while reducing their carbon footprint—a great first step for the future of our world.