Electric Foresights

Enable New Cost-saving Strategies

About Us

Electric Foresights is formed by a team of dedicated Data Scientists from UC Berkeley. Our team has identified the potential improvements that can help thousands of factories in Mexico to save millions of dollars every year on the electricity bills. We aim to help the Mexican manufactures to unleash such potential through big data and our cutting edge machine learning technologies.

The Pain Point

Nowadays, many factories have done a great job implementing various measures to cut down the electricity consumption. However, most have come to the realization that there is a ceiling for consumption reduction and further cost cutting seems increasingly impossible.

Our Solution

Electricity Cost = Consumption X Price. We have realized that the key to further cost savings lies in the last puzzle of the equation -- “Price”. Leveraging on the advanced machine learning technologies and the power of big data, we have designed a product that can forecast the future electricity price, a crystal ball that enables a brand new array of cost-saving strategies.

Inside the Crystal Ball

Wondering about how the crystal ball works? Click HERE to find out the details.

Product Demo

Click HERE to access the forecast dashboard.

The Demo Dashboard serves the purpose of illustrating what kind of information would be available to you. For production usage, we will provide API access to our client for easier system integration.



Use Cases

At Electric Foresights, we believe that knowledge is power. The foresights of electricity price enable an array of new cost-saving strategies. Here, we briefly illustrate two approaches.

Production Scheduling


Upon knowing the price in advance, a factory can strategically schedule production activities on the days with the lowest cost. It is also possible to move some of the power consumptions from peak hours to off-peak hours, a method also known as peak shaving.

Alternative Power Sources


Factories which have power storage facilities can charge during off-peak hours and discharge during peak hours. Those with alternative power sources such as back-up generators, private power plants or co-generating plants may make more use of such power sources during peak hours and draw more power from the grid during off-peak hours.

Savings Estimator

Want to find out how much money our product can save you? Click HERE to launch the Savings Estimator!



Testimonials

Team

Electric Foresights Team

Resources

GitHub


Check out the codes and notebooks at our Git repo.

Presentation


More information about our project can be found in the slide deck