Energy management 4.0

Vangelis Marinakis, Haris Doukas and John Psarras

Chapter 8 in Handbook of Research on Artificial Intelligence, Innovation and Entrepreneurship, 2023, pp 121-134 from Edward Elgar Publishing

Abstract: Digitisation has reached the energy market and the Electric Power and Energy Systems (EPES) community is looking for new solutions and business models that exploit the application of the Information and Communications Technology (ICT) on top of the energy infrastructure. The constantly increasing momentum of Artificial Intelligence (AI), including machine learning, deep learning, reinforcement learning, represents an unprecedented opportunity for next generation energy management (‘Energy Management 4.0’). In this context, the aim of this chapter is to present the AI-4-Energy framework towards Energy Management 4.0. AI-4-Energy enables cross-sector analytic tools for integrated and intelligent energy management, based on seamless data-information and knowledge exchange under respective sovereignty and regulatory principles. Applications of the Energy Management 4.0 range from optimal risk assessment for energy efficiency investments planning, to optimised management of grid and non-grid owned assets, improved efficiency and reliability of electricity networks operation, as well as new socially and environmentally sustainable business models.

Keywords: Business and Management; Innovations and Technology (search for similar items in EconPapers)
Date: 2023
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