Artificial Intelligence and Machine Learning is an Important Tool to Improve Cost Estimation for Natural Disasters in Electric Utilities
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- Dec 2, 2020 5:15 pm GMTNov 30, 2020 3:00 am GMT
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Authors: Dr. Ismael Arciniegas Rueda and Parousia Rockstroh
Natural disasters in the United States cause billions of dollars of damage to electric infrastructure every year. Hurricane Zeta, for instance, left more than 2 million people without power in the Gulf States. According to the Quadrennial Energy Review by the Department of Energy, electric system outages caused by natural disasters have an economic cost of $20-$50 billion annually.
After a disaster hits a particular area, states rely heavily on the Federal Emergency Management Agency (FEMA) to fund a significant portion of repairs. But FEMA’s responsiveness to affected communities depends on its ability to estimate the costs of this work quickly and accurately.