Energy Consumption Prediction for Optimum Storage Utilization

Continuous access to energy for commercial and industrial sites across the United States to cover their needs is essential for them to keep producing goods and providing services. Nonetheless, the price of electricity provided by utilities is variable throughout the day. In addition, Commercial and Industrial customers have to pay demand charges that are proportional to the maximum power drawn from the grid during each month. This rate structure makes these sites very sensible to how they consume power on a minute to minute basis. To solve this issue, eLum provides businesses that use solar energy and storage with a system that allows them to optimize in real time the choice between using the electricity they have produced and buying from their utilities provider. But to make this happen, accurate predictions of the electricity consumption of each site at one or two days horizon must be made. That way, eLum will allow these sites to optimize the resources they spend on energy.