Collaboration pairs energy storage with Artificial Intelligence (AI)
- Collaboration pairs energy storage with Artificial Intelligence (AI)
- Prediction algorithm helps lower energy costs and operational costs for STEM’s customers
- Solution enables STEM to enhance service offering and supports its expansion into new markets
- Enables better management of and more effective use of electricity
Dublin, 25 July 2019 – Comtrade Digital Services, the leading provider of software engineering services and solutions, today announces a partnership with STEM which allows the global leader to pair energy storage with AI to lower costs for building operators and energy managers.
The collaboration with Comtrade Digital Services allows STEM – which manages more than 900 energy storage systems for over 280 organisations across the USA, Canada, and Japan – to reduce energy costs for its clients by automatically buying electricity when it’s more cost-effective and enabling usage during more expensive peak hours.
By implementing a prediction algorithm that taps into data sources and predicts energy demand, STEM can deliver major savings for its clients by enabling them to lower operational costs and avoid the additional charges imposed during periods of peak demand.
The prediction algorithm, designed with Comtrade Digital Services, also means that STEM can continually improve its predictions, access in-depth insights and deliver continued value to customers. Moreover, this results in better management and more effective use of electricity.
STEM also has the ability to adapt the solution to the changing conditions in the energy market, integrate more data sources and implement additional, carefully-designed functions for other electric markets it chooses to enter. As well as supporting this expansion into new markets, the software allows the organisation to enhance its core service offering.
Speaking about the collaboration with Comtrade Digital Services, Larsh Johnson, CTO at STEM, said: “STEM is the leader in deploying energy storage solutions in rapidly evolving energy markets. Our ability to predict and forecast electricity use and market conditions and optimise our storage capacity is critical to delivering value to our customers and grid operators around the globe.
“With the peak prediction project, we wanted to build a solution that would enable us to continuously innovate so we can continue to lead in multiple marketplaces and deliver our promise to save energy and reduce costs for our customers and support integration of renewables on the grid. With Comtrade Digital Services and its innovative and resourceful AI team, we have a long-term collaboration partner who can support our continued growth in the field of predictive AI.”
Dejan Ćušić, Business Director for Ireland and the UK, Comtrade Digital Services, said: “It is fantastic to be able to collaborate with a global leader like STEM and the partnership really showcases how AI can be utilised to help companies innovate faster. In this case, it has been applied to a very unique product. With uneven consumption and varying rates, the task of supplying electricity is a challenging one.
“However, we have implemented an algorithm that not only simplifies this task but delivers value for STEM and its customer base. It provides more in-depth insights into the energy market which reduces costs, boosts efficiency and enables growth. Moreover, and perhaps most importantly, it is a solution that can and will be adapted in the future with the incorporation of more data and functionality. This showcases the real and lasting impact AI can have on business operations.”