The largest quantum computing company in the EU is working with a global leader in clean energy to solve complex optimization problems such as battery placement on smart grids
SAN SEBASTIÁN, SPAIN, July 7, 2023 – Multiverse Computing, a global leader in value-based quantum computing solutions, today announced a joint project with multinational clean energy firm Iberdrola to modernize electrical grids and facilitate additional green energy sources.
Because electrical grids are integrating increasing amounts of renewable generation, electric vehicles and other distributed energy resources, supplemental batteries are playing a vital role. i-DE, Iberdrola’s distributor in Spain and a leader in smart grids, will work with Multiverse Computing to select the optimal number, type and locations of supplemental batteries for the electrical grid.
Many variables must be considered when determining battery placement within smart grids, such as connections with neighboring power systems, flexibility in existing generation sources, and the hourly, daily, and seasonal changes in power demands. Multiverse’s quantum algorithm experts will use quantum and quantum-inspired algorithms to solve these computationally complex problems, which classical computers cannot manage.
The two companies will work together for 10 months as part of the Gipuzkoa Quantum Program in the Basque Country of Spain, a quantum computing hub and smart grid innovation center.
In the U.S., Multiverse’s optimization solutions are primed to help solar and wind installations in cities and states make some of the same improvements. Grid batteries are especially helpful with green energy sources as batteries can store energy at peak generation times and store it for use during peak demand.
In addition to changes in the mix of energy sources, electric companies are facing new operating requirements. Connecticut, Illinois, North Carolina and Washington recently instituted performance-based regulation of utilities, and Hawaii already has this type of regulation in place. This new trend in regulation shifts the model away from profits driven by return on capital investments and moves it to a model based on delivering affordable, reliable, and clean power.
“Our quantum optimization algorithms could help utilities meet new requirements aiming to align utility profit motives with environmental goals, including decarbonization and resilience,” said Enrique Lizaso Olmos, CEO of Multiverse Computing.