Outdated Utility Data Systems Are Stalling the Renewable Energy Revolution
Energy is not created equally. Unlike burning fossil fuels like gas and coal, renewable energy allows us to consume energy with very little greenhouse gas emissions. But, as sustainable as renewable energy generation can be, it often isn’t reliable enough to power an entire electricity grid. Because renewable energy supply and energy demand are both variable, even the cleanest energy grids often need a fossil fuel component. Fossil fuel plants can be quickly turned on and scaled up when demand peaks, preventing disruptive or dangerous power outages.
These peak demand times are also when power is most expensive. Some utilities calculate the energy rate for a whole year based on a property’s peak demand segment. To lower emissions and energy bills, buildings need to use data from utilities about energy sources and consumer demand at any given time. Most advanced energy management and BMS systems can manage energy using utility data, but obtaining the data in a usable format is not always easy.
Utility companies are also not created equally. Some have portals that allow consumers to directly access real-time data about the grid. For example, New York’s Con Edison has an API that allows third parties to import data easily into energy management systems. But, not all utilities are as sophisticated as the country’s oldest grid. “In a perfect world, every utility company in the U.S. would update their metering infrastructure and allow real estate and technology companies to access their pricing and demand information in real time via API,” said Gary Chance, CEO of Nantum AI. Unfortunately, most utility companies don’t have the incentives or resources to create and maintain such technology. The U.S. has thousands of electricity companies, a number that is growing due to the increasing prevalence of options for customers to choose where they get their power.
