AI in Renewable Energy Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2023 to 2029)
Global AI in renewable energy market is anticipated to grow at a CAGR of 24.8% during the forecast period (2023-2030). Considering the benefits of Artificial Intelligence (AI) in renewable energy, regulators and governments globally are also promoting the use of AI in clean energy by introducing better policies and investments. For instance, in August 2023, the UK government invested $4.8 million in artificial intelligence (AI) to help industries reduce their carbon emissions and increase the use of renewable energy. Twelve green AI initiatives will receive a share of $1.2 million to decarbonize and boost the generation of clean power. The initiatives include solar energy improvements that use AI to improve forecasting of when solar energy will best produce energy for the grid. In addition, the government will provide a further $2.7 million to support further AI innovations, to reduce emissions specifically in energy sectors. Also, in August 2023, Verse Inc., a San Francisco-based company that uses generative AI to help companies transitioning to clean power, secured $5.75 million in seed funding in a round led by Coatue with participation from Collaborative Fund, Firstminute Capital, Future Positive, and Twine Ventures.
Apart from this, energy companies
globally are also collaborating to take advantage of AI in business growth. For
instance, In August 2023, Hitachi Energy and Google Cloud partnered to develop
cloud software products and services that use advanced data analytics and
generative AI to provide a faster and more comprehensive view of energy
information. Under this partnership, Hitachi Energy and Google Cloud will use
their combined expertise to develop and deploy new solutions for electric
utilities and renewable energy producers. These solutions will combine Hitachi
Energy's Energy Portfolio Management (EPM) solutions with Google Cloud's data
analytics capabilities, artificial intelligence (AI)/machine learning (ML)
services, and scalable and secure infrastructure.
In June 2023, Solarad.ai, a
company that develops energy forecasting models for solar plants and battery
storage, raised an undisclosed amount of funding in a seed round led by India
Quotient. The investment will be used to support the company's growth, improve
its technology, and develop new products. According to the company, it plans to
use the funds to enhance its deep-tech models and algorithms for energy
generation forecasting, expand its cloud infrastructure to improve scalability,
and invest in research and development to improve forecast accuracy. The
company also plans to expand its solution offerings in Europe and the US, hire
new employees, and automate energy scheduling and trading processes to provide
more value to its customers.
To Request a Sample of our Report on AI
in Renewable Energy Market: https://www.omrglobal.com/request-sample/ai-in-the-renewable-energy-market
•
The market number available for – 2022-2030
•
Base year- 2022
•
Forecast period- 2023-2030
Segment
Covered-
·
By Deployment Type
·
By End-User
·
By Application
·
By Energy type
Regions Covered-
·
North America
·
Europe
·
Asia-Pacific
·
Rest of the World
•
Competitive Landscape- Alpiq Holding Ltd, Atos
SE, Enel S.p.A, Siemens Gamesa Renewable Energy, Enphase Energy, Inc. DeepMind,
and Stem, Inc. SparkCognition, Inc. among others.
AI in Renewable Energy
Market Report Segment
By Deployment Type
•
On-premises
•
Cloud
By End-User
•
Utilities
•
Residential
•
Commercial or industrial
By Application
•
Demand Forecasting
•
Safety and Security
•
Predictive Maintenance
•
Others (Energy storage, Operational efficiency, and
optimization)
•
By Energy type
•
Solar Energy
•
Wind Energy
•
Hydroelectric Energy
•
Others (geothermal energy, bioenergy, and ocean energy)
A full Report of AI in Renewable Energy Market is Available @ https://www.omrglobal.com/industry-reports/ai-in-the-renewable-energy-market
AI in Renewable Energy Market Report Segment by
Region
North America
· United
States
· Canada
Europe
· UK
· Germany
· Spain
· France
· Italy
· Rest
of Europe
Asia-Pacific
· India
· China
· Japan
· South
Korea
· Rest
of APAC
Rest of the World
•
Latin America
•
Middle East and Africa
Company Profiles
•
App Orchid Inc.
•
AutoGrid Systems, Inc.
•
Beyond Limits Inc.
•
DeepMind
•
Enphase Energy, Inc.
•
General Electric
•
on.Energy
•
Origami Energy
•
QiO Technologies LTD
•
Solarad AI
•
SparkCognition, Inc.
•
Stem, Inc.
•
Vestas Wind System A/S
Reasons to buy from us –
1. We cover more than
15 major industries, further segmented into more than 90 sectors.
2. More than 120
countries are for analysis.
3. Over 100+ paid
data sources mined for investigation.
4. Our expert
research analysts answer all your questions before and after purchasing your
report.
For More Customized Data,
Request for Report Customization @ https://www.omrglobal.com/report-customization/ai-in-the-renewable-energy-market
About Orion Market Research
Orion Market
Research (OMR) is a market research and consulting company known for its crisp
and concise reports. The company is equipped with an experienced team of
analysts and consultants. OMR offers quality syndicated research reports,
customized research reports, consulting and other research-based services. The
company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services
through another subsidiary Encanto Technologies.
Media
Contact:
Company
Name: Orion Market Research
Contact
Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact
no: +91 7803040404
Comments
Post a Comment