Veritone Energy delivers benefits to:
Utility CompaniesUse real-time price, supply, demand data to predict and optimize energy supply mix for maximum profitability and ideal grid utilization.
Equipment ProvidersControl edge devices for proper voltage and frequency and grid matching, dynamically adapting to demand changes for optimal power.
Independent OperatorsAggregate, buy and sell green energy on energy exchanges based on real-time intelligent predictions of utility grid energy needs.
Storage ProvidersAggregate and dispatch stored solar power for both industrial and residential operators during peak load times, increasing grid reliability and reducing costs.
AI FOR A CHANGING ENERGY INDUSTRY
AI is revolutionizing the way we produce, transmit, and consume energy. Veritone is partnering with leading energy providers to usher in an exciting new era marked by the digitalization, decarbonization, decentralization, and democratization of power. aiWARE is the brain that powers next generation smart grids by continuously collecting and synthesizing overwhelming amounts of data to make timely decisions on how best to allocate new and old energy resources.
The adoption of aiWARE will see aging and unreliable regional grids replaced by specialized microgrids that manage local energy needs with finer resolution, particularly as new battery technologies allow power to continually flow to and between local communities.
Four factors are changing the energy landscape:
Consumers are demanding more and varied green energy sources, which are cleaner and cheaper than conventional energy sources but unpredictable and difficult to integrate into legacy grids.
To respond to this demand, independent distribution system operators (DSOs) and energy generating consumers have arisen, harnessing green energy to create new revenue streams through approaches such as solar, battery energy storage and microgrids.
With distributed energy resources, generation of that energy has become more decentralized, and with it, less reliable and predictable due to climate dependency.
Integration of green energy sources into legacy grids has created a two-way power flow and challenges around line congestion, hardware failures, and random grid blackouts due to energy supply and demand imbalances. Digitization can help by more effectively managing grids, creating a more reliable, cost effective and efficient energy infrastructure.
Use Cases: Intelligent Solutions for Clean Energy
Near Real-Time Optimal Economic DispatchVeritone’s patented optimal dispatch solution incorporates traditional energy generation, distributed energy resources, predictive forecasting, price modeling, and storage to meet grid demands in real-time and day-ahead timeframes. Veritone's AI-powered solution is an invaluable tool for utilities faced with the scheduling and operational cost challenges that come with a resource-diverse portfolio.Learn More
Real-Time Demand ResponseVeritone’s demand response solution stabilizes the grid network during peak periods by aligning adjustments in electricity usage at facilities with the conditions of local power grids. Reducing demand improves the reliability of the grid. Less demand means less stress on energy transition and distribution systems, which makes them less likely to fail.Learn More
Volt/VAR OptimizationVeritone's Voltage and Volt-Ampere Reactive (VAR) Optimization solution controls the flow of power on the distribution system to increase efficiency and reliability, reduce distribution energy losses, and accommodate new power flows, such as those originating from distributed generation. By providing more precise voltage control, VVO reduces total energy consumption without compromising service quality.Learn More
Microgrid Energy Management ControlVeritone provides active, real-time synchronization of microgrid resources, including batteries, solar arrays, wind turbines, and more. This results in increased performance and optimized energy sharing and trading among connected microgrids and the main grid. This improves the stability, reliability, and energy efficiency of the system. Further, hardware brownouts are minimized through predictive and intelligent control of grid devices.Learn More
Solar SmoothingVeritone’s intelligent solar smoothing solutions lessen the intermittency of solar generation. Our patented weather and demand forecaster combined with our patented predictive device control solution enables a smooth transition between solar power, the grid and energy devices, allowing the grid and devices time to respond to the fluctuations in solar generation.Learn More
Near Real-Time Energy ArbitrageVeritone’s automated real-time arbitrage system is based on risk forecasting and optimized dispatch decision-making. Our high-frequency trading models derive results from short term opportunities in dynamic grid conditions. Arbitrage dispatch decisions for each site conform to NERC, EPRI, utility and network power rules.Learn More
Veritone Energy Solutions
AI-Based Control Produces Solar Smoothing for Tampa Electric
By mitigating transients in the power output of its solar units, TEC could improve the overall stability of the grid network while also protecting and extending the life of its inverters and storage batteries.
To meet this goal, TEC looked to Veritone to provide an AI-based, predictive device controller for regulating the DC power flowing from their solar arrays to the paired inverters.
Leveraging Veritone’s forecasting technology, its patented predictive device controller incorporates optimized forecasts and local parameters in real-time to deliver optimized AC output by regulating the power flow on the DC side of the inverter.
What A Partner Says
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.