Energy

Julia is used for energy optimization, electricity grid failure detection, energy trading and a host of applications in energy by utility companies, private energy trading firms, and in research by a number of government research labs

Every year, more than 12 terawatts of power are used worldwide to power everything from automobiles and household appliances to streetlights, supercomputers and industrial factories. More than 10% of world GDP is spent on energy and more than 90% of this energy comes from fossil fuels (oil, gas and coal), followed by renewables (water, wind, solar, biomass and geothermal) – the fastest growing share – and by nuclear energy.

Energy has a few unique features that make Julia a great choice for trading, supply and demand forecasting, network management and more:

  • Tradable commodities: oil and natural gas are two of the three most traded commodities in the world.
  • Tradable energy: once converted into energy, that energy can be transmitted, bought and sold.
  • Variability: energy is a product for which spot demand and supply frequently surge and collapse in response to events (e.g. weather) and in ways that are highly unpredictable.
  • Transmission and storage: energy transmission and storage require expensive infrastructure and often lead to large efficiency losses.
  • Short-term fixed capacity: it takes years to design and build a power plant.
  • Reliability: critical functions such as hospitals, breathing machines, traffic lights, air traffic control operations, sanitation, water purification plants and more rely on reliable energy.

As a result, energy traders, managers and others throughout the energy industry require software that is:

  • Reliable
  • Fast
  • Capable and efficient when handling massive real-time data inputs

Which is why they rely on Julia.


related case studies

AOT Energy

Uses Julia to value swing options, perform Monte Carlo simulations and options valuations for energy trading

read more

Invenia

Uses Julia to manage the North American electrical grid, and is an active contributor to open source Julia, including: Arbiter.jl, BayesianOptimization.jl, DeferredFutures.jl, DateParser.jl, Holidays.jl, Interfaces.jl, FTPClient.jl, Mocking.jl, StackTraces.jl, TimeZones.jl, VirtualArrays.jl

read more

Tangent Works

Using Julia for machine learning for energy management. Tangent Works provides grid managers and distributors with tools and a proprietary Tangent Information Manager (TIM) platform for real-time energy forecasting and management

read more

Fugro Roames

Uses Julia’s machine learning capabilities to identify points of failure and potential failure throughout the electrical grid

read more

PSR

A global electricity and natural gas consulting, analytics and technology firm that uses Julia to develop and license analytical tools for planning and energy market simulation using multistage stochastic optimization techniques

read more

LAMPS PUC-RIO

Is a research group using Julia for energy optimization

read more
related packages & products

JuMP
Modeling language for Mathematical Optimization (linear, mixed-integer, conic, semidefinite, nonlinear)

Bloomberg
The Bloomberg APIs provide easy access to real-time market data as well as historic data. The data can be directly loaded and analysed effortlessly.

JuliaInXL
Use Julia as a computational backend for data in Excel

DeferredFutures.jl
Julia Futures which are initialized when written to

DateParser.jl
Handle automatic parsing of DateTime strings

Holidays.jl
Julia library for handling holidays

Interfaces.jl
An implementation of interfaces for Julia

FTPClient.jl
A Julia FTP client using LibCURL supporting FTP and FTP over SSL

Mocking.jl
Allows Julia function calls to be temporarily overloaded for purpose of testing

TimeZones.jl
IANA time zone database access for the Julia programming language

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