AI-Driven Energy Forecasting, Optimization, and Demand Side Management for Consumer Engagement

AI-Driven Energy Forecasting, Optimization, and Demand Side Management for Consumer Engagement

Chalumuru Suresh, V. Nyemeesha, R. Prasath, K. Lokeshwaran, K. Ramachandra Raju, Sampath Boopathi
Copyright: © 2024 |Pages: 20
DOI: 10.4018/979-8-3693-3735-6.ch006
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Abstract

This chapter explores the role of artificial intelligence (AI) in the energy sector, focusing on energy forecasting, optimization, and demand management. It highlights the importance of AI technologies in utilities, grid operators, and consumers. AI-driven models accurately predict energy consumption patterns and demand, and how machine learning algorithms, data analytics, and IoT devices can improve forecasting precision. AI also optimizes energy production and distribution processes, reducing costs, enhancing reliability, and promoting sustainability. It also emphasizes its role in demand side management, focusing on consumer engagement strategies and AI-driven demand response programs.
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Artificial Intelligence In Energy Sector

Artificial Intelligence (AI) is revolutionizing the energy sector by improving efficiency, sustainability, grid management, and energy consumption. Artificial intelligence (AI) developments in machine learning and data analytics facilitate improved decision-making and operational efficiency, driven by global demand and an emphasis on clean and renewable energy sources (Ahmad et al., 2021; Yang et al., 2021). AI is being applied across various energy sectors to generate, distribute, and consume energy (Figure 1).

Figure 1.

AI Applied in the various energy sectors

979-8-3693-3735-6.ch006.f01

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