Addressing Volatility of Renewables Drives Electricity Market With AI?

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Recording of Wednesday, June 19, 2024 | The smarter E Europe Conferences 2024 | Conference Program | Language: English | Duration: 13:49 .

Solnet CEO Kaj Kangasmäki Discusses Company's Growth, Digitalization in Energy Sector, and Future Technological Integrations Amid Market Volatility

Kaj Kangasmäki introduces himself as someone with extensive experience in IT and a strong belief in digitalization and data. He is the co-founder and CEO of Solnet, a company focused primarily on photovoltaic (PV) systems but increasingly venturing into battery storage solutions and related software. Solnet has completed around 1000 projects across Europe, working with high-profile clients such as IKEA, Lidl, and DHL. The energy market faces challenges like price volatility influenced by geopolitical factors. Legislation changes at both EU and regional levels add to these complexities. The industry needs stable rules that support innovation without destabilizing economic logic. Technological advancements are essential for grid balance and overcoming infrastructure bottlenecks. Leveraging existing infrastructure through optimization can provide significant opportunities. Digitalization, AI, economies of scale from increased production volumes, lower battery storage costs, ESG pressures from investors, policy requirements for greener solutions—all drive this transformation. An example project in Finland demonstrates using new technologies like AI-based solid manager software for PV utility management to make investments future-proof while balancing the grid efficiently. Integrating solar-battery setups with wind farms offers complementary energy profiles. Using modern technology maximizes benefits by utilizing existing connections faster than starting anew.

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Talk of session: Hybrid PV Power Plants II: Business Models for 24/7 Renewable Power Plant Supply

24/7 renewable power supply is a fairly new concept that ensures that the amount of green electricity companies require is met every hour of the day. 24/7 renewable power supply leads to increased transparency and trust in energy procurement, and it promotes the installation of new renewable power plants. Some world-leading IT companies have already opted for 24/7 green energy matching.This session will discuss: The concept of 24/7 renewable energy supply and energy matching 24/7 green power demand trends Real-time renewable 24/7 power production and consumption case studies The potential of 24/7 RES matching (executive panel discussion)

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