Post: Energy tech advances will transform smart buildings, save businesses and divide aggregators

Energy tech advances will transform smart buildings, save businesses and divide aggregators

Businesses can expect electricity prices to increase by up to 40% in the next few years, despite the predicted stability of the commodity price, says Endeco Technologies’ CEO and co-founder Michael Phelan. A staggering number, which when combined with Brexit concerns, could be the difference between sinking or swimming for large industrial and commercial energy users.

The key to reducing this risk, Phelan believes, is technology and smart building management. Endeco Technologies have developed the technology to take full advantage of machine learning capabilities to ensure industrial and commercial sites are not only energy resilient, but intelligent, and therefore efficient and readied for grid services. But it’s not just energy intensive industrial and commercial businesses that will need to mitigate their risk. Agility and expertise will be key to the survival of aggregators, and only those willing and able to keep up with the demands of the market will make it out the other side.

Phelan commented: “Our unique technology platform goes beyond the grid. It sits within sites and uses machine learning to create sophisticated algorithms based on asset capabilities, operational parameters, frequency changes on the grid, grid data and ambient patterns.” He continued “The market is evolving, and Endeco looks to be ahead of the change. The development of our intelligent system spans across all elements of the platform, but more recently we’ve been concentrating on developing the areas of electricity demand and price forecasting in our day ahead optimisation module.”

Day ahead optimisation is currently available in Ireland, and is due to launch in the UK. As the market evolves in the UK, forecast pricing will be available. Based on asset constraints, Endeco will be able to generate a schedule for each site, and automate the action taken, to avoid peak pricing where possible.

It is part of Endeco’s mission to ensure the technology to reduce costs and generate a return on energy consumption through demand control is accessible. However, in addition to technology needs to come education, so businesses understand it’s role and importance.

Energy, environment and economy are intrinsically linked, and the complexity of the intertwinement is little understood by many, which is why Endeco created their education programme Endeco Academy. The programme simplifies the landscape to educate businesses on the importance and benefits of energy management and control, details on the technology to manage energy and demand, how the energy marketplace works, and how to ensure businesses thrive while environmental ramifications are at a minimum.

For more information on the latest machine learning developments at Endeco technologies, smart building management, energy efficiency and Endeco Academy webinars and seminars, get in touch with our friendly team of demand side response experts on 01923 431 638 or email service@endeco-technologies.com