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Plexflo Launches Platform to Help Utilities Predict Customer Demand for EVs

By: Plexflo via AccessWire

July 18, 2022 at 18:35 PM EDT

BOULDER, CO / ACCESSWIRE / July 18, 2022 / Plexfo, a data-analytics company that helps utilities design EV-first future grids with existing data, has launched a new platform that will enable utilities to build predictive models of their customers' propensity to buy electric vehicles (EV). By better understanding how people feel about EVs and clean energy, engineers will be able to integrate these projections into their grid modernization planning and rate design calculations. The goal, Plexfo states, is for engineers to have the tools to build innovative data products within utilities and to enrich internal datasets.

Currently, the growth rate of the EV industry compared to the automobile industry overall is slow due in part to EVs still being relatively expensive. Also, while top-of-the-line EVs can reach distances close to 500 miles without charging, some of the more budget-friendly models can only travel less than 100 miles without a charge. Additionally, the number of charging stations in the United States is about one-third the number of electric vehicles in the country.

However, as technological advancements are made on EV batteries and more affordable models become available to the public, the number of people adopting EVs could grow. One potential outcome is that with the increasing adoption of EVs, America's power infrastructures may be overloaded.

CEO and Founder of Plexflo, Dr. Sayonsom Chanda, says that in launching the platform, Plexfo is preparing for this possibility. "The electric utility and energy industries are rapidly undergoing transformation and having to optimize between customer choice, environmental protection, grid modernization, and climate change," he states. "Utilities need tools that can make it easier to obtain external data sources and map them to their load-demand forecast models. They also need better tools to collaborate across business units and to leverage their energy forecasts to remain competitive in an era of renewable energy."

Plexfo's platform, the company explains, was created to help utilities save time and resources for their data analytics works and to empower different business units within their organization to build domain-specific data products around the EV growth happening in their networks. Utilities can also use the platform to create better time-of-use pricing models depending upon the customer segmentation capabilities of the platform.

Plexfo states that with the platform, utility regulators, planners, and engineers can develop better load-forecasting models that can eventually help to accelerate EV adoption and make America's power grids more flexible and less fragile.

In July 2022, Plexfo will begin working with one of the largest privately owned utilities in India. "With this project, we are initiating a paradigm shift in how analytics are done in the utility industry," the company says. "We are using cloud computing resources, integrating disparate data streams, and showing the value of integrating EV projections into the utility's strategies about assets, customer relationships, and rate case design. We are very excited about bringing our vision to India and collaborating with the utility to prepare the country's power grids for an EV future."

Plexfo states that it will continue its efforts to strengthen the power infrastructure in the United States and elsewhere. "Reliable energy means clean transportation, clean transportation means clean air, and clean air means that people all over the world can breathe a little easier."

Plexflo, founded by Dr. Sayonsom Chanda and powered by a team of electric engineers, is a tool intended to streamline the process of planning for an EV-first future by creating user-friendly insight into the data of future EV growth. Users can run various simulations that allow them to consider a future in which the power infrastructure will be responsible for various quantities of EVs and to determine whether those numbers are sustainable or not.

Dr. Chanda has extensive experience working with major energy providers, including the United States Department of Energy. As a boy in Kolkata, India, one of the most polluted cities in the world, Dr. Chanda struggled with breathing problems. While air purifying air conditioners provided his only respite, power cuts and failures were frequent. From an early age, Dr. Chanda recognized that all life depends on access to clean air, which in turn depends on access to electricity. Ultimately, Dr. Chanda and the Plexflo team are working toward a future in which a sustainable power grid is a reality worldwide.

For more information, please contact Plexflo: 720-924-1818 | hello@plexflo.com | plexflo.com

SOURCE: Plexflo

View source version on accesswire.com:
https://www.accesswire.com/708991/Plexflo-Launches-Platform-to-Help-Utilities-Predict-Customer-Demand-for-EVs

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Plexflo Launches Platform to Help Utilities Predict Customer Demand for EVs

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