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AI-Based Computational Model in Sustainable Transformation of Energy Markets

Author

Listed:
  • Izabela Rojek

    (Faculty of Computer Science, Kazimierz Wielki University, Chodkiewicza 30, 85-064 Bydgoszcz, Poland)

  • Adam Mroziński

    (Faculty of Mechanical Engineering, Bydgoszcz University of Science and Technology, Kaliskiego 7, 85-796 Bydgoszcz, Poland)

  • Piotr Kotlarz

    (Faculty of Computer Science, Kazimierz Wielki University, Chodkiewicza 30, 85-064 Bydgoszcz, Poland)

  • Marek Macko

    (Faculty of Mechatronics, Kazimierz Wielki University, Chodkiewicza 30, 85-064 Bydgoszcz, Poland)

  • Dariusz Mikołajewski

    (Faculty of Computer Science, Kazimierz Wielki University, Chodkiewicza 30, 85-064 Bydgoszcz, Poland)

Abstract

The ability of artificial intelligence (AI) to process large amounts of data, analyze complex patterns, and make predictions is driving innovation in the energy sector and transformation of energy markets. It helps optimize operations, improve efficiency, reduce costs, and accelerate the transition to cleaner and more sustainable energy sources. AI is playing an increasingly important role in transforming energy markets in various aspects of the industry in different ways, including smart grids and energy management, renewable energy integration, energy forecasting and trading, demand response and load management, energy efficiency and conservation, maintenance and asset management, energy storage optimization, carbon emission reduction, market analytics and risk management, exploration and production, regulatory compliance, and safety. The aim of this article is to discuss our own AI-based computational model in sustainable transformation of energy markets and to lay the foundations for further harmonious development based on a computational (AI/ML-based) models, with particular reference to current limitations and priority directions for further research. Such an approach may encourage new research for the practical application of AI algorithms in critical domains of the energy sector.

Suggested Citation

  • Izabela Rojek & Adam Mroziński & Piotr Kotlarz & Marek Macko & Dariusz Mikołajewski, 2023. "AI-Based Computational Model in Sustainable Transformation of Energy Markets," Energies, MDPI, vol. 16(24), pages 1-26, December.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:24:p:8059-:d:1299952
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    References listed on IDEAS

    as
    1. Agnieszka Malkowska & Maria Urbaniec & Malgorzata Kosala, 2021. "The impact of digital transformation on European countries: insights from a comparative analysis," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 16(2), pages 325-355, June.
    2. Izabela Rojek & Dariusz Mikołajewski & Adam Mroziński & Marek Macko, 2023. "Machine Learning- and Artificial Intelligence-Derived Prediction for Home Smart Energy Systems with PV Installation and Battery Energy Storage," Energies, MDPI, vol. 16(18), pages 1-26, September.
    3. Viktorija Skvarciany & Indre Lapinskaite & Gintare Volskyte, 2021. "Circular economy as assistance for sustainable development in OECD countries," Oeconomia Copernicana, Institute of Economic Research, vol. 12(1), pages 11-34, March.
    4. Vasile Dogaru & Claudiu Brandas & Marian Cristescu, 2019. "An Urban System Optimization Model Based on CO 2 Sequestration Index: A Big Data Analytics Approach," Sustainability, MDPI, vol. 11(18), pages 1-14, September.
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