GE Launches Technology to Help Utilities Increase Efficiency and Empower Consumers to Make Responsible Energy Decisions PDF
Holistic Solution Enables an Optimal Balance between Supply and Predictable Consumer Demand
ATLANTA, GA.—October 29, 2010—GE (NYSE: GE) has launched its Grid IQ™ Demand Optimization System, a new solution relying on GE’s advanced demand response management system software to deliver comprehensive demand-side management support. This holistic solution helps utilities and consumers increase efficiency, lower their carbon-footprint and even reduce operations and energy costs. Grid IQ is GE’s companywide commitment to modernizing the world’s electrical infrastructure.
GE’s Demand Optimization offering is a smarter, integrated approach. It uses GE software and continuous-learning algorithms as part of a complete system of two-way communications, smart devices and dynamic pricing incentives to deliver a new level of precision and control to demand-side management. Studies show that utilities can experience peak demand reduction between 10 percent and 15 percent1. GE estimates that this could save up to $18 million per year in avoided capital expenditures for a utility with 1 million customers.
Demand Optimization also is good for the planet. One study found that direct feedback on energy use and efficiency programs enabled by demand response solutions could save 50 billion kWh in electricity consumption and avoid the emission of 28 million metric tons of CO2 in 2030—in the United States alone2.
“From energy and distribution management systems to outage management and geospatial information systems, we’re helping utilities reinvent grid thinking every day. Demand Optimization is our next major
IT advancement,” said Todd Jackson, new platforms leader—digital energy for GE Energy Services. “GE has developed algorithms that
learn and react to real-time, real-world data points throughout the grid. This robust software was designed specifically for demand optimization. It understands the nuances of grid operations and the objectives of utilities, offering performance advantages.”
Rather than simply suppressing or shifting peak loads, this solution enables an optimal balance between supply and predictable consumer demand, with smart-load technologies like programmable communication thermostats, smart appliances, electric vehicle charging stations, in-home energy portals and home automation devices. In the future, it also will optimize the integration of distributed renewables such as solar, wind and storage, allowing users to increase their mix of clean, domestic generation while realizing financial, regulatory and economic benefits from every kilowatt hour saved.With Demand Optimization, instead of shutting down a large pool of load resources, utilities precisely turn down only the load they need to meet objectives, without overcompensating and missing potential revenue. GE’s new application gets smarter with every day of experience and data collection, so the mastery of demand becomes a more powerful tool for maximizing revenue while minimizing risks.
“Our Demand Optimization offering gives utilities the tools to compare the likely results of different demand response scenarios with an extremely high level of confidence so that they can maximize the value of every allotted event minute with each consumer, while improving service across the board,” added Jackson. “Now utilities have a smart tool to manage the demand side of their business. With precise planning and accurate results, utilities and consumers can make smarter grid decisions every day and power a more productive energy future.”
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's website at www.ge.com.
GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With nearly 85,000 global employees and 2009 revenues of $40 billion, GE Energy www.ge.com/energy is one of the world’s leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energy—GE Power & Water, GE Energy Services and GE Oil & Gas—work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.