A number of issues plague the energy industry, from consumers suffering from excessive electricity bills to utility companies dealing with overloaded grids. While renewables offer a solution to some of these, most renewables cannot be scheduled.
Promanthan Brains (Promanthan) has a newly issued patent that may help solve some of these issues. This patent discusses an energy cost optimizer. The system makes use of a thermostat that collects real-time energy prices from an electricity grid and employs a random search algorithm in order to find a control strategy based on a consumer's connected devices. The system factors in day-ahead prices and real-time prices, combining these into forecasts of electricity prices for present and future time periods.
This is Promanthan's first patent in the Energy Financial Settlement Sector, categorized under the "energy transaction" sub-category.
