Dr Conor Lynch OPENS – Optimise Predict Energy System
Automating Energy Savings
What problem are you solving and what is innovative about your approach?
Energy Managers in high energy using organisations are facing dual challenges in seeking to reduce their energy bills while simultaneously meeting Green House Gas (GHG) Protocol carbon reduction targets.
OPENS presents a novel price prediction algorithm which predicts the hourly I-SEM market rate 36 hours in advance. It is designed to offset peak load tariffs and supply energy at an optimal cost to customers.
OPENS is a grid-connected smart network system encompassing energy market-tracking tariff prediction technologies used in conjunction with an auxiliary battery supply and any customer-own electricity generation assets. It has the capacity to optimise based on energy cost, carbon emissions or both simultaneously.
How is this idea commercially attractive?
Commercial Energy users are under increasing pressure to reduce energy costs. OPENS can be used in Industrial, Commercial and Domestic settings and is particularly attractive to high energy using organisations.
By using OPENS customers can significantly reduce their energy costs by 20% (Industrial/Commercial customers) and by 50% (Domestic customers), by empowering customers to switch to I-SEM tracker tariffs and to operate cost-effectively via automated control of their assets
OPENS takes an integrated approach. The system takes account of all energy assets available – renewables, generators, storage and merges them with power demand to generate optimum operating schedules relative to the highly accurate means of predicting the future hourly market cost of electricity.
OPENS is a Decision Support Platform which automates customer decisions on when to use / buy lower cost underutilised renewable energy from the grid or from clients own generating source and when to schedule auxiliary battery supply for equipment at a high grid cost or high usage periods. This enables Energy Managers to meet their energy cost and carbon emissions targets.
The system is currently being trialled in Shannon Vale foods (1024 PV panels onsite) and with a large supermarket chain. The team are also in active discussions with a second large retailer and the company plans to initially focus on installing across this customer segment.
The energy savings market is a huge global market. Once the team has validated the business model in the retail sector the team plan to target the high energy using MNC segment. This segment is particularly focused on the drive to meet GHG Protocol targets, which OPENS enables.
What do you hope to achieve by participating in Big Ideas?
OPENS hopes to use the Big Ideas as a platform to initiate the promotion of the company and its energy saving platform. The team plan on raising seed investment in 2023 in order to launch operations, begin sales and to recruit key personnel. The team see the Big Ideas showcase as a fantastic opportunity to meet and begin discussions with potential investors.