Software-as-a-service (SaaS) platform Innowatts has unveiled a new solution designed to allow energy providers to leverage cloud-based, fully scalable data analytics.
It uses Amazon Web Services (AWS) to process 4.3 billion data points per hour, giving utilities full transparency over their operations, the needs of customers and changing energy market conditions.
Combining Innowatts’ artificial intelligence (AI) data analysis with AWS’s flexibility, scalability and pay-as-you-go model allows utilities to meet some of the industry's most pressing challenges, including decentralisation of generation assets, extreme weather and the electrification of transport, the company said.
Rolf Gibbels, head of worldwide business development, Power & Utilities Industry at AWS added: “This relationship underpins the importance of cloud-enabled digital transformation for utility companies and will help bring more sustainable, reliable, and affordable energy to millions of American businesses and residential customers.”
Innowatts' SaaS energy analytics platform is now used across nine countries and 17 energy markets, with more than 45 million meters under management. This follows an expansion into the UK in 2019, and opening a new office in Cork, Ireland, in April 2021 to expand its European presence.
The company’s predictive intelligence is used for load forecasting, demand analytics and grid-edge management applications.
“We’re proud to bring our groundbreaking AI analytics solutions to a wider audience,” said Jeff Wright, chief revenue officer of Innowatts.
“The future of energy depends on using vast amounts of data gleaned from dispersed sources to generate actionable intelligence at scale — and that’s exactly what Innowatts is now working to deliver.”
AWS partnered with utility Octopus Energy in August 2020, as its preferred cloud provider, building on the companies work on the Kraken platform – Octopus Energy’s insights software.