Source: GlobeNewswire (MIL-NZ-AU)
Forde, Oct. 17, 2022 (GLOBE NEWSWIRE) — Australian B2B platform EarlyBirds is applying its open innovation ecosystem to make smart grids all over the world more robust to failure and more efficient at transmitting electricity. Readers can find out more about the company’s services for early adopts, business leaders, innovators, and subject matter experts by heading over to its website at earlybirds.io.
In a world, where precious resources are being uncontrollably mined or drilled to meet ever-increasing energy demands, wasting the generated energy due to inefficient distribution is unacceptable, both due to the possible financial losses as well as the broader moral implications. However, despite the recognition of the problem, the current efficiency, or lack thereof, that public and private corporations have been able to achieve in electricity transmission and distribution (T&D), is underwhelming. The Energy Information Administration (EIA) estimates that 5 to 7% of primary energy is lost due to inefficient T&D.
One of the best solutions to reclaim this lost energy is the use of a smart grid. Smart grids are composed of a network of digital monitoring technologies and control systems that can change the grid’s parameters to efficiently meet its users’ energy needs. Their components, such as generators, grid operators, and end users, send data or electricity, or both, back to the network. This information is then analyzed and decisions are made to reroute power, either using pre-configured rules or artificial intelligence. The result is that the power in the grid gets equitably distributed reducing wastage and virtually eliminating the occasional blackouts. Residents who draw power from the smart grid also get the choice to invest in electricity generation equipment, such as solar panels, to contribute energy back to the grid and lower their home’s energy bills.
EarlyBirds cofounder Jeff Penrose talks about why there is a keen interest in smart grids around the world by saying, “While we are undoubtedly making great strides towards a future where our energy primarily comes from renewable sources, this investment only makes sense if the technology of the underlying grid is smart enough to incorporate them all. With smart grids, homeowners can aim to be self-sufficient through the use of solar energy while relying on the grid when their need outstrips the capabilities of their home system. This is especially important because renewable energy sources cannot always provide steady power. Smart grids not only make sense for the bottom line of the companies that light up the world but also its users’ wallets. If you are associated with a private corporation or public body that acts as an energy provider and are interested in exploring the possibilities of smart grids, we urge you to sign up to the EarlyBirds platform as an Early Adopter by heading over to the link: https://earlybirds.io/en/early_adopter.”
The EarlyBirds platform and its services are specifically designed to tackle the most complex technological, administrative, and business challenges of our time, such as building a smart grid. Innovators on the EarlyBirds platform are engaging in ground-breaking endeavors such as creating new business models for energy companies, enabling collaboration with aggregators, facilitating the formation of virtual power plants, investigating circular solutions for a more efficient and sustainable grid, and more. Since smart grid requirements vary wildly by country, region, and locality, EarlyBirds can act as the unifying ecosystem that can provide custom solutions for all.
The open innovation ecosystem already boasts solutions for a wide range of use cases and can provide business leaders with a strategic capability edge for planning and implementation. EarlyBirds has also created specific industry-based Innovation Maps that organizations can use to identify potential innovators to solve individual business or technical challenges. The company’s Explorer program is for businesses that need innovation as a service to supplement existing innovation programs or to conduct innovation projects as required. EarlyBirds’ Challenger program is designed to solve one business or technical challenge at a time and search for relevant innovators that meet the risk requirements.
Innovators and researchers who have bold and remarkable technologies to offer to businesses can sign up to the EarlyBirds platform as Innovators by heading over to https://earlybirds.io/en/innovator.
For more information about EarlyBirds, contact the company here:
Mr Kris Poria and Mr Jeff Penrose
+61 401 287 060
‘FORDE’ SUITE 10, LEVEL 1, 26 FRANCIS FORDE BOULEVARD, FORDE, ACT 2914
– Published by The MIL Network