Abstract
Demand for energy has increased significantly across the globe due to increase in population and economic growth. Growth in energy demand poses serious threat to the environment since majority of the energy sources are non-renewable and based on fossil fuels, which leads to emission of harmful greenhouse gases. Organizations across the world are facing challenges in transitioning from fossil fuels-based sources to greener sources to reduce their carbon footprint. As a step towards achieving Net-Zero emission target, we present a scalable AI based solution that can be used by organizations to increase their overall renewable electricity share in total energy consumption. Our solution provides facilities with accurate energy demand forecast, recommendation for procurement of renewable electricity to optimize cost and carbon offset recommendations to compensate for Greenhouse Gas (GHG) emissions. This solution has been used in production for more than a year for four facilities and has increased their renewable electricity share significantly.
Abstract (translated)
URL
https://arxiv.org/abs/2202.13101
