GE has launched Grid IQ: Demand Optimization System, a new solution relying on its advanced demand response management system software to deliver comprehensive demand-side management support. This holistic solution helps utilities and consumers increase efficiency, lower their carbon-footprint and reduce operations and energy costs.
GE’s Demand Optimization offering is a smart, integrated approach. It uses GE software and continuous-learning algorithms as part of a complete system of two-way communications, smart devices and dynamic pricing incentives to deliver a new level of precision and control to demand-side management. Studies show that utilities can experience peak demand reduction between 10 percent and 15 percent. GE estimates that this could save up to $18 million per year in avoided capital expenditures for a utility with 1 million customers.
“From energy and distribution management systems to outage management and geospatial information systems, we’re helping utilities reinvent grid thinking every day. Demand Optimization is our next major IT advancement,” said Todd Jackson, new platforms leader—digital energy for GE Energy Services. “GE has developed algorithms that learn and react to real-time, real-world data points throughout the grid. This robust software was designed specifically for demand optimization. It understands the nuances of grid operations and the objectives of utilities, offering performance advantages.”
Rather than simply suppressing or shifting peak loads, this solution enables an optimal balance between supply and predictable consumer demand, with smart-load technologies like programmable communication thermostats, smart appliances, electric vehicle charging stations, in-home energy portals and home automation devices. In the future, it also will optimize the integration of distributed renewables such as solar, wind and storage, allowing users to increase their mix of clean, domestic generation while realizing financial, regulatory and economic benefits from every kilowatt hour saved.
With Demand Optimization, instead of shutting down a large pool of load resources, utilities precisely turn down only the load they need to meet objectives, without overcompensating and missing potential revenue. GE’s new application gets smarter with every day of experience and data collection, so the mastery of demand becomes a more powerful tool for maximizing revenue while minimizing risks.