ArchSight Energy Solutions
ArchSight uses real-time renewable generation & power prices to offer power consumers insightful ways to support renewables and save money.
Which focus area(s) does this proposed app address?
How will your app make an impact?
The renewable energy transition is well underway, and Texas leads the U.S. as the top wind-producing state. However, since renewable generation is affected by weather patterns, it experiences high fluctuations in output. In recent years, the increase in renewable energy has led to unprecedented volatility in electric power prices.
My app is designed to 1) make energy consumers more aware of when renewable generation is being produced and 2) provide insight for customers to align their energy consumption with when renewable energy is being produced.
Texas energy consumers have a monetary incentive to align their energy usage with renewable generation. Power prices in Texas are lowest when renewable generation is at its peak because there is excess generation. Batteries and energy storage are expensive ways to transfer this excess generation and add to the cost of renewables. By showing consumers how much money they could save through realigning their energy consumption, this app will magnify the impact of renewable energy and help us transition into a smarter, cleaner world.
This app solves a direct and pressing need in the local Austin community. Austin Energy has been rapidly expanding its GreenChoice Renewable Energy program. Customers enroll in GreenChoice because they want to support Texas wind energy. However, GreenChoice customers cannot see real-time wind generation without digging into the ERCOT archives (a place where only someone with industry experience would know to look). This app brings the real-time wind generation data right to the customers in an easy to understand platform. GreenChoice customers will be able to see the impact of the wind generation they are supporting and better align their energy usage to support renewable energy.
Why is your app next-generation?
This app efficiently translates real-time renewable generation and real-time power prices into an easy to understand summary for the consumer, thereby increasing the transparency behind how the power market works and helping consumers understand their electricity bills. Additionally, it uses predictive price and renewable generation forecasts and employs data analysis to makes recommendations for customers to help them save money.
This app is especially forward-looking for residential customers. The real-time price and renewables data can be seamlessly integrated into smart homes to create an environment that efficiently consumes electricity 1) when there is excess renewable generation and 2) when power prices are lower. For instance, high-energy applications such as electric vehicle charging, dishwashers, laundry, thermostats, and any other smart-home appliance could be time-controlled to run during hours when prices are expected to be low and renewable generation expected to be high. Please refer to the Residential Case Study slide in the attached presentation for an example.
This app serves benefits both the customers and the utilities. Customers are happy that they are finding ways to save money and utilities are happy because the usage during low load hours balances the excess renewable generation and prevents them from having to incur additional costs to store that excess energy. Smart appliances, real-time meters, and real-time billing is the next generation of home ownership, and this app is designed to help power consumers transition into the next generation of efficient, clean, and cheap power.
Tell us about your superhero team.
My name is Eric (Founder & CEO), and I am an entrepreneur with 5+ years of experience as a consultant in the electric power industry. Having worked with dozens of electric utilities across the country, I have developed expertise with all the peculiar energy market regulations at the federal, state, and RTO/ISO level. I have conducted a significant amount of data analytics, with a focus on electricity generation and power prices. I investigated and helped publish a whitepaper detailing how the increase in renewable generation in certain parts of the country (especially Texas) has led to abnormal trends in power prices, which led to the inspiration of ArchSight.
Accessibility and Inclusion
This app promotes the production and consumption of clean energy. Clean energy is beneficial for everyone, but the health impacts of power plant pollutants are greatest in lower-income communities. Low-income areas have significantly more health diseases associated with power plant pollution because coal and natural gas power plants are disproportionately located in poor and vulnerable neighborhoods. Many of the federal and state clean-energy initiatives incorporate a bonus credit for developing clean energy projects in low-income communities. This app furthers the initiative to develop clean energy by promoting the use of clean energy during the hours when it is produced.
If your team wins, what will the prize money be used for?
The first part of the funds will be used to develop the app. The funds will enable Eric & Ravyn to work on this project full-time after September and hire help (as needed) to ensure that we launch and deploy a high-quality product by December.
Once the app is ready to be deployed, we will use any remaining funds to market the app to customers in the Austin Energy footprint, as well as to other utilities in Texas (CenterPoint, Oncor, AEP, Xcel) and the customers in their service territory.
Optional: Please share any relevant documents about your app concept.
ArchSight Energy Solutions.pdf