Smart energy management company Robert Cruickshank Associates announced Thursday that it has developed an application programming interface that allows cable broadband operators to more efficiently manage their electrical loads. RCA’s GRIDIoT® Optimum Load Shaping tool is projected to save broadband operators “up to 20% and more as technology improves.”
Due to demand-based electricity pricing such as time-of-use rates, the cost of electricity from an increasing number of grids fluctuates throughout the day, being more expensive when demand is high and less expensive when demand is lower. Due to advancing electricity storage technology, electricity can be stored in batteries and used at a later time. API’s GRIDIoT® OLS takes advantage of this by compiling thousands of utilities’ pricing schemas and demand-side energy management programs in a single, searchable database and signaling broadband operators about the lowest-cost and cleanest electricity available. It also projects the future availability of grid resources for maximum efficiency and sustainability.
Load optimization technology has the added benefit of helping energy suppliers avoid capital investment and increase operational efficiency by enabling their customers to consume electricity more efficiently.
Additionally, by interfacing with the internet of things, GRIDIoT® OLS enables electricity to be drawn from electric vehicles, residential battery packs, rooftop solar, and thermal storage to further balance supply and demand.
The GRIDIoT® OLS signals are available online via an interactive, web-based viewer and application programming interface. Any device or energy management system can programmatically query the GRIDIoT® API for an OLS signal, then autonomously decide whether to time-shift some or all of its demand for electricity to lower-cost periods.
The smart energy management market is expanding rapidly: Fortune Business Insights forecasted that it will more than double, from $19.96 billion 2019 and to $41.97 billion in 2027 — a combined annual growth rate of 9.9%. Reasons for growth include cost-saving opportunities, the need to manage an ever-increasing global energy demand, and the international community’s efforts to combat climate change.