Europe leads the world in renewable energy penetration. Countries like Sweden already see around 60% of their energy coming from renewable sources, with Finland and Latvia seeing almost half of their energy sourced through renewables. However, this also creates challenges for the grid infrastructure, as energy companies must efficiently manage grid networks to accommodate both the penetration of renewables as well as the bidirectional flows of energy, for example, from consumer photovoltaic systems or electric vehicles (EVs; vehicle-to-grid or V2G). Traditional paradigms, even with advanced artificial intelligence capabilities, may struggle to handle the enormous computational requirements to handle this shift in the energy landscape. In addition, all of this must be done in a matter of minutes to balance the grid. This is where quantum computing has the potential to tackle this challenge due to its fundamental novel approach in tackling inherent limitations in today’s computational approaches and speed (details on how quantum computing does this can be found in our report here).
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