Project I-NERGY fosters the use of artificial Intelligence (AI) solutions in the energy sector to improve energy efficiency and climate investment planning. The project has developed smart data analysis tools to help better manage energy consumption, predict return on investment and reduce risks.
The Significance of the Project for Riga
Safe, accessible and sustainable energy is essential for the well-being of residents and for urban development. AI technologies in energy can help reduce costs, increase system efficiency and create better conditions for using green energy. In Riga, within the framework of the project, the AI solution is being tested, which helps to evaluate the impact of energy efficiency investments and optimise financial decisions.
Target of the Project
With the use of AI, improve the efficiency of the energy sector by helping local government, businesses and residents manage energy consumption and investments in green energy more wisely.
Benefits for Residents
✔ Lower bills and lower energy consumption – smarter and more efficient energy management helps save;
✔ A more sustainable city – smart climate investment projects improve quality of life and the urban environment;
✔ Safer and more stable electricity supply – support for green energy development reduces dependence on fossil fuels;
✔ Smart solutions for all: new technologies help residents, including seniors, use energy smarter and more efficiently.
Project Activities
✔ Development and testing of artificial intelligence solutions for energy efficiency assessment and climate investment return analysis;
✔ Development of public and private investment risk assessment tools;
✔ Improving energy management systems with the latest IoT and data analysis technologies;
✔ The involvement of local and online energy communities in green energy markets;
✔ Informing and educating residents about more efficient uses of energy.
Project Results
✔ A developed and piloted AI solution for energy efficiency analysis and investment planning;
✔ A system that helps investors and financial institutions better evaluate energy efficiency projects;
✔ Fostered the development of local and virtual energy communities, which enable greater use of green energy;
✔ Identified opportunities for improving the electricity supply system and making more efficient use of renewable energy sources.
Funding, Duration, and Partners
Funding source: Horizon 2020
Total project budget: EUR 5 585 744
Total budget for Riga:
EUR 95 875 (100% EU funding)
Implementation Period: 01.01.2021 – 31.12.2023
Project Partners: Institute of Communication and Computer Systems (Greece) – lead partner, Riga Energy Agency (Latvia), ASM Terni SpA (Italy), Climate Technology Centre and Network (CTCN) (Portugal), SIA “Communications and Sensori” (Slovenia), German Artificial Intelligence Research Centre GMBH (Germany), SONCE ENERGIJA D.O.O. (Slovenia), BFP Group – Studio Tecnico Bfp Societa a Responsabilita Limitata (Italy), VEOLIA SERVICIOS LECAM SOCIEDAD ANONIMA UNIPERSONAL (Spain), Green Energy Cooperative – Zelena Energetska Zadruga (Croatia)
Contact Information
Nika Kotoviča
“I-NERGY” Project Coordinator
Riga Energy Agency
Email: nika.kotovica@riga.lv
Project Links
I-energy – Riga Energy Agency
Homepage | I-NERGY
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