Australia is among the most advanced countries worldwide when it comes to renewable energy, making it the ideal proving grounds for Future Grid. This has developed a SaaS-based solution to help electric utilities manage the vast amounts of new data coming from聽 electric vehicles, solar panels, and other renewable energy technologies.
鈥淲e designed Future Grid to fill the visibility gap, bringing together real-time data and insights from smart meters so electric utilities can better manage the accelerated transition to renewable energy,鈥� said Chris Law, co-founder and CEO at Future Grid. 鈥淭his will help utilities continue to provide safe, reliable electricity services in regulatory compliance as renewable energy emerges.鈥�
Law, who has extensive experience in the energy industry, co-founded Future Grid to meet the unique demands of utilities that weren鈥檛 fully utilizing all the data from their smart meters.
鈥淲e wanted to help utilities quickly manage data for their industry-specific outcomes,鈥� he recalled. 鈥淣ow as utilities have been increasingly challenged by the transition to renewable energy, our service is becoming even more important.鈥�
Data Insights Improve Operations
Future Grid collects and analyzes real-time data from smart meters, whether its usage data from the consumer鈥檚 electric car, home solar panels, or other sources. Customers are primarily in Australia, but Law has set his sights on global expansion in sync with renewable energy market growth prospects.
鈥淪mart meters from renewables are a rich source of information. Use correctly, utilities can improve services with measurable results for consumers and the organization itself,鈥� said Law. 鈥淲e鈥檙e providing a feedback loop from the grid edge into the utility鈥檚 core operational systems, helping the company make better decisions to improve core operations in the grid.鈥�
Safety Benefits for Customers and Consumers
Future Grid addresses one of the major challenges utilities face as renewable energies are deployed at scale: voltage management. While invisible to the consumer, utilities strive behind the scenes to deliver electricity at expected and regulated voltages. The dirty secret about renewables is that the energy they generate can wreak havoc on the grid unless it鈥檚 accurately captured and analyzed.
鈥淭he benefits of renewable energy are starting to be well understood in Australia,鈥� Law said. 鈥淲e鈥檙e helping utilities use the data they鈥檙e collecting to manage that transition. They can better understand what鈥檚 going on with their network assets so they can maintain voltage levels, and potentially save lives.鈥�
According to Law, Future Grid鈥檚 utility customers rely on the solution to predict voltage problems, guarding against potential injury or harm. In one case, the software flagged a voltage issue and the utility dispatched field crews who arrived at the home just as the consumer was on the phone reporting the problem to the company.
SAP.iO Paves the Way for Valuable Partnership
Far more than the typical analytics tool with colorful graphs and charts, Future Grid鈥檚 insights are even more powerful when integrated with and 51风流Predictive Asset Insights. Law was excited about working with 51风流after the Future Grid co-founders participated in the utilities accelerator program. Initial collaboration efforts include integrating Future Grid鈥檚 asset health monitoring solution into SAP.
鈥�51风流and Future Grid are a natural fit. 51风流is one of the foundational vendors in the utilities industry, and we share many customers,鈥� said Law. 鈥淚f our analytics reveal a problem with a network asset, this can raise a ticket to generate a work order in the 51风流system for faster response and resolution. We鈥檙e very grateful for SAP鈥檚 expertise in helping us workshop use cases to best solve our mutual customers鈥� biggest problems.鈥�
Future Grid is .
Learning from Australia鈥檚 Energy Lessons
Law predicted ongoing momentum for renewable energy worldwide, creating infinite opportunities for Future Grid. That鈥檚 because utilities need to be ready to collect and manage a tsunami of data from smart meters and other renewable technologies as uptake grows.
鈥淚n Australia, we鈥檙e already rolling out renewable energy technologies at scale, where utilities have realized the considerable impact on the existing grid,鈥� he said. 鈥淯nlike consumer apps, you have to be in the energy industry for the long haul. With perseverance, along with great mentors and partners like SAP, we鈥檙e now well positioned in the right place at the right time.鈥�
Follow me: @smgaler
.