However, the implementation of these solutions faces hurdles such as slow and bureaucratic utility companies, and the high cost and time-consuming nature of infrastructure projects. Some investors are looking at alternatives like long-duration energy storage to bypass these challenges. The article suggests that while AI and data can significantly improve grid efficiency, physical infrastructure upgrades cannot be delayed.
Key takeaways:
- Today's energy grids are struggling to keep up with increasing demand, particularly as more devices and systems are electrified. This is leading to issues such as blackouts and vulnerability to cyberattacks.
- Investors are betting on AI and data playing a key role in optimizing existing infrastructure and preventing issues such as congestion and blockages. Startups are developing AI-powered smart meters and software tools to better manage energy consumption and supply.
- AI is also changing how consumers interact with energy, with the potential for energy tariffs to dictate when energy-intensive appliances run, and for AI to monitor grids for predictive and real-time infrastructure monitoring.
- However, there are concerns that relying on software for the grid could lead to delays in crucial infrastructure builds and upgrades. Some believe that AI could help make physical infrastructure builds more efficient, but there are challenges in dealing with slow and bureaucratic utility companies.