BOULDER, Colorado – (COMMERCIAL THREAD) – A new report from Guidehouse Insights analyzes the capabilities of AI to enable the integration of Distributed Energy Resources (DERs), including a discussion of key industry trends, applications, drivers and market barriers and technological considerations. The report also provides market forecast to 2030.
AI techniques have been deployed in the energy industry for a variety of network and market operations. One of the most exciting applications of AI in the energy industry is the integration of DER. According to a new report from Guidehouse Insights, the AI-based DER integration market will experience a compound annual growth rate (CAGR) of 10% and reach $ 481.8 million by 2030.
“The proliferation of advanced metering infrastructures (AMIs), or smart meters, the influx of data for more advanced grid planning and operation, and the growing capacity of the DER requiring advanced communication networks and energy flows. Bidirectional is reshaping the way the distribution network operates, ”says Hannah Davis, senior research analyst at Guidehouse Insights. “Integrating AI for DER can deliver utility benefits through better load and generation forecasting tools, grid optimization and grid planning tools, as well as a energy quality management. ”
As the number of networked sensors and demand-side devices, such as smart inverters and smart thermostats, has increased dramatically, so has the amount of data that utilities receive. With technological advancements and the rapid deployment of connected devices, utilities are discovering more innovative ways to use their data. Analytics providers with Software as a Service (SaaS) solutions and Operational Technology (OT) providers with AI modules are quickly emerging in the market with tools to help utilities analyze their data effectively and create actionable insights.
The report, AI for DER integration, provides an overview of the capabilities of AI to enable DER integration, including a discussion of key industry trends, applications, market drivers and barriers, and technology considerations. Further, the global market forecast is broken down by application segment (network management, demand management, and customer-centric applications) and expense segment (software, integration and upgrade services, maintenance and SaaS). All major regions of the world are included and the forecast period extends to 2030. A summary of the report is available for free download from the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the market intelligence arm of Guidehouse, provides research, data and benchmarking services for today’s rapidly changing and highly regulated industries. Our knowledge is based on an in-depth analysis of the global cleantech markets. The team’s research methodology combines supply-side industry analysis, primary end-user research, and demand assessment, coupled with in-depth examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights is available at www.guidehouseinsights.com.
Guidehouse is one of the world’s leading providers of public and commercial procurement advisory services with broad capabilities in risk management, technology and advisory. We help our clients meet their toughest challenges and overcome significant regulatory pressures with a focus on transformational change, business resilience and technological innovation. Through a range of consulting, consulting, outsourcing and digital services, we create scalable and innovative solutions that prepare our clients for future growth and success. The company has more than 10,000 professionals in more than 50 sites around the world. Guidehouse is a portfolio company of Veritas Capital, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda issues that drive national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, AI for DER integration, is a summary and reflects Guidehouse Insights current expectations based on market data and trend analysis. Market forecasts and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or report. Please refer to the full report for a full understanding of the assumptions underlying the report findings and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse makes any commitment to update the information contained in this press release or the report.