As the energy industry advances toward decarbonization, the integration of innovative solutions becomes imperative for effectively managing the energy production mix, especially as renewable generation continues to claim a larger share. Demand-side flexibility, or demand response, refers to the capacity of energy consumers to respond to market or grid signals, adjusting their consumption accordingly. Given the volatility of renewable energy production, demand response emerges as a crucial component in shaping the future of decarbonized energy systems.
Silicon Valley-based Bidgely is empowering energy businesses to design or improve demand response programs to accelerate decarbonization progress through its energy intelligence solutions.
The company’s AI-powered software platform converts electricity meter data into actionable insights regarding the energy consumption patterns of households and businesses. Utilities and energy retailers can accurately identify the specific appliances in use, their usage timings, durations, and performance. This information enables more effective customer engagement on a personalized level, positioning them as demand response partners, offer them recommendations for optimizing device usage and energy cost reduction strategies. Notably, the charging behavior of electric vehicles (EVs) plays a crucial role in demand response, with the potential for significant benefits to grid reliability when charging is shifted to periods of peak solar and wind production. Recognizing and utilizing this kind of demand flexibility is becoming increasingly important, and Bidgely is helping to resolve that important issue.
On the B2B front, customer data analysis helps utilities improve stability and manage grid congestion by controlling demand and optimizing energy use behavior through bonuses, tariffs, and other incentives that encourage business customers to adjust their energy consumption habits for a more balanced grid load operation. Bidgely can also advise utilities on customer segments that exhibit greater consumption flexibility, enabling the implementation of more adaptable rates and tariffs.
Moreover, Bidgely’s access to smart meter data allows for other critical analyses, such as calculating solar production based on historic weather data. The same methodology can also facilitate the creation of solar production forecasts for the future.
Beyond the decarbonization value Bidgely’s platform provides, energy businesses are also leveraging its energy intelligence to inform and optimize operations across their enterprises. For example, it can be used to detect fraudulent activities where businesses attempt to masquerade as households to benefit from lower energy tariffs, a practice prevalent in some jurisdictions.
As I spoke with Gabriele Pincelli, VP Product Management at Bidgely, I also enquired about regional variations. Gabriele noted that the demand for the company’s software is higher in the United States, followed by Australia and India. Bidgely has also a number of European customers, however the fragmentation of rules and regulations across Europe poses a challenge.
The future development of Bidgely’s software platform is intrinsically tied to aggregating data into Virtual Power Plants (VPPs) and providing these VPPs to utilities for operation but also potentially allowing for the direct trading of excess energy on the market. The scalability of Bidgely’s solution enables broader aggregation of behind-the-meter data and the ability to identify demand responses to optimize the VPP to ensure reliable network operation and economic efficiency.