Veritone Energy: Optimizer

DER OPTIMIZATION FOR AN INTEGRATED, GREEN ENERGY SMART GRID

Dynamic. Adaptive. Reliable.

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KEY BENEFITS

INCREASE GRID RELIABILITY
Increase your ability to prevent blackouts, autonomous operation if isolated from the main grid, confidently manage highly variable loads.
REDUCE OPERATIONAL COSTS
Increase longevity of your grid assets, reduce maintenance costs, lower generation and wholesale power purchase costs.
IMPROVE CAPACITY PLANNING
Determine optimal renewable energy source mix for each site.

UNCOVER NEW REVENUE STREAMS
Value stack assets to increase revenue opportunities, provide frequency support services.
DECREASE CO2 EMISSIONS
Optimize DER planning with predictability, maximize renewable dispatch to reduce reliance on fossil fuels.


VERITONE OPTIMIZER DELIVERS BENEFITS TO:

utility company icon
Utility Companies
Investor Owned, Municipals, Co-ops
Leverage advanced data modeling for real-time decision making around forecasting, optimization, and device control, to streamline efficiencies, maximize your infrastructure investments, and decrease your carbon footprint.
Microgrid Developers
C&I, VPP, Campus, Community
Confidently manage highly variable loads and assure autonomous operation if isolated from the main grid by leveraging highly accurate demand, generation, and price forecasts combined with real-time optimization and control.
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Independent Providers
IPPs, ISOs, DSOs, Energy Traders
Uncover new revenue streams and improve your competitive position by aggregating, buying, and selling green energy. Obtain real-time AI-driven predictions of demand, energy generation, and price changes to achieve market leadership in the wholesale market.

USE AI TO IMPROVE THE PERFORMANCE OF COMPLEX GRID OPERATIONS IN REAL-TIME

We are going through the energy transition. The global energy sector is shifting away from fossil-based systems of energy production and consumption. Instead, they are adopting green energy sources and new forms of energy storage. However, these energy sources are unpredictable and less reliable, causing energy supply and demand imbalances. As a result, the grid stability, customer satisfaction and your company profitability are all affected. The energy sector urgently needs solutions to make green energy more predictable, reliable, and cost effective and AI is the answer.

Join the Energy Revolution

Harness the power of AI to optimize your energy assets in real-time. Use Veritone’s AI-powered Optimizer to deliver energy efficiently, ensuring grid resilience in the face of the unexpected.

The AI-powered Optimizer uses domain rules, highly accurate energy forecasts, historical and sensor data to produce the optimal dispatch model at any given time. This optimal energy supply distribution increases grid reliability while conserving energy and reducing cost. Based on internal strategy drivers and external market opportunity, the Optimizer fuses together real-time forecasting, economics, rules, and active learning to deliver autonomous energy management.

Capabilities

  • CONTINUOUS LEARNING

    Using digital twin modeling, AI models constantly consume large amounts of real-time and historical data. At the same time, strategic goals, price, and compliance rules are incorporated. The models continue to adapt to changing conditions, learning from previous outcomes, resulting in more accurate, more optimal decisions.

  • DISTRIBUTED DECISION-MAKING

    Achieve real-time, autonomous decision making at the edge of the asset control system. By solving problems locally, you can increase speed of action and achieve a higher level of situational awareness. As a result, you will increase reliability, lower your operational cost, and have more effective asset performance monitoring.

  • ADAPTABLE

    Meet your strategic, regulatory, and environmental goals by implementing combinations of different energy optimization strategies.

  • ACTIVE DEVICE SYNC

    Constantly synchronize and optimize each controlled asset with each other and with the network to achieve environmental, strategic, and regulatory goals.

USE CASES

BATTERY OPTIMIZATION
In order to maximize the economic benefits of battery storage, you must use battery storage for a variety of applications. The AI-driven Optimizer enables dynamic, real-time digital twin modeling of batteries to ensure optimal power distribution and battery life. Optimize your battery for frequency dispatch signals, solar smoothing, peak shaving, and arbitrage or be bundled with other grid applications for value stacking.

SOLAR SMOOTHING
In order to mitigate the fundamental flux of solar power, Veritone Optimizer uses battery storage for solar smoothing. You can now confidently supplement the gaps in solar power. Additionally, the Optimizer reduces frequency fluctuations in renewable plants by leveraging multiple forecast and historical data. As a result, these plants become fully dispatchable. 

PEAK SHAVING
Optimize your battery storage by leveraging price and demand forecasts. Confidently off-set highly variable loads, while improving reliability and keeping the operating costs low.

MERCHANT STORAGE
Veritone Optimizer utilizes real-time dynamic optimization based on price, load demand, and risk forecasting. Ingesting these forecasts to generate battery charge and discharge commands, you can maximize profits through energy arbitrage.

FREQUENCY DISPATCH
Take advantage of battery storage with Veritone’s AI-driven Optimizer in order to increase operational efficiency of your system. Respond to the frequency signal in real-time, to maximize your revenue.

CAPACITY PLANNING
Given constraints such as weather, demand, and price fluctuations, Veritone’s AI-driven Optimizer actively models available energy sources. In doing so, you can optimally dispatch required amounts of clean, continuous, and reliable power.  

 

 

VOLTAGE REGULATION
Veritone’s AI-driven Optimizer uses historical and capacity data, and generator constraints, to dynamically determine the operating voltage range. This keeps voltage levels close to a desired value.

BID OPTIMIZATION
Using a variety of data points, you can use Veritone’s AI-driven Optimizer to achieve optimal bidding and scheduling strategies in real-time. In turn, this will allow the DER owner to maximize the revenue opportunities.

POWER QUALITY
Power quality issues lead to revenue loss, early equipment failures, and power outages. Identify the root cause of poor power quality and correct it in real-time with Veritone’s AI-driven Optimizer. This enables you to improve energy harmonics and power output. With its active filtering capability, the Optimizer helps you reduce harmful harmonics and prevent energy losses during transmission.

OPTIMAL DISPATCH
Using generation and demand forecasts, meter and weather data, Veritone’s AI-driven Optimizer synchronizes each controlled DER with another. It also synchronizes assets with the power grid and other uncontrolled devices. This delivers performance metrics that meet local demand, reduce cost, and maintain reliability and resiliency.

ADVENTURES IN AI – THE VERITONE PODCAST

Showcasing technology and stories of how Artificial Intelligence is changing the way businesses operate today and prepare for the future.

In this episode, we discuss energy challenges and how AI will help utilities create a more efficient and optimized smart grid.

We talk with Sean McEvoy, Senior VP of Energy Solutions here at Veritone about Using AI to Improve Energy and Utilities Operations

In this episode, we discuss the rise of Autonomous Microgrid Technology and how AI will help utilities optimize energy grids. Microgrids are localized power generation systems in which distributed energy resources and the utility network work in concert to provide reliable electricity to a specific community.
We talk with Sean McEvoy, Senior VP of Energy Solutions here at Veritone about Using AI to Improve Energy and Utilities Operations

In this episode, we’ll discuss the role of intelligent distributed energy resource management systems (DERMS) in the clean energy transition and how artificial intelligence will help utilities deliver safe, reliable, affordable, and greener energy to their customers.

WHAT PARTNERS SAY

Veritone Energy Solutions are used by leading integrators and U.S. utilities to better optimize, synchronize and control green energy sources.

The power of Veritone’s cutting edge AI solutions allows utilities to rapidly integrate new sources of energy with the confidence of knowing their infrastructure is optimized for cost, reliability, and longevity.
Larry Cochrane
CTO
Microsoft Azure Energy
Redhorse Logo
Veritone's predictive AI technology brings much-needed optimization and efficiency to the energy grid, helping reduce energy consumption and provide greater stability. Veritone's ability to leverage massive amounts of historical and real-time data to effectively balance energy supply and demand, with automated synchronization of grid assets for maximum reliability, is a real game changer in the energy industry.
John Zangardi
President of Redhorse Corporation,
a leading U.S. government services provider

I like to remind everyone the importance of AI and that’s becoming increasingly important in energy. As the system becomes more complex, AI is a valuable tool both to system operators and to customers to help simplify and optimize the system.”

— Julia Hamm, President & CEO, SEPA

Contact us to learn more or to schedule a demo