Post: GridBeyond increases battery storage revenues with Bid Optimizer

GridBeyond increases battery storage revenues with Bid Optimizer

GridBeyond increases battery storage revenues with Bid Optimizer
GridBeyond launches Bid Optimizer and Designer for the National Electricity Market (NEM) in Australia, expanding its offer for asset owners following the launch of Forecaster in the second quarter this year.

Bid Optimizer empowers asset owners by providing them with a strategic advantage in optimising their energy and ancillary market involvement, maximising the profitability both at an individual asset level and at a portfolio level. Bid-Optimizer leverages a multi-layered artificial intelligence framework that combines physics-based battery modeling with adaptive market intelligence. The system continuously evaluates market opportunities across all markets; ancillary services and energy, selecting the most profitable strategy, while managing operational constraints such as state of charge, efficiency and cycling warranty limits. The tool also offers the opportunity for users to customise their own trades, view trading history and compare against perfect foresight through the cloud-based interface, ensuring transparency and ease of reporting.

GridBeyond’s Designer product helps asset owners plan, design, and analyse prospective investments, allowing users to co-optimise project design and operations to maximise revenue from real time markets and make savings on energy spend while balancing other project goals such as carbon reductions.

As large scale battery investment and behind the meter installations grow rapidly, real-time battery trading is becoming more challenging and requires sophisticated tools that leverage AI to simplify decision-making whilst managing complex offtake agreements and merchant revenues.  

Bid Optimizer and Designer join the Forecaster solution recently launched in Australia, providing a suite of tools to enable customers to explore various trading scenarios and quantify values and the probabilities related to different market participation strategies.  

Chris O’Brien, Country Manager of Australia at GridBeyond commented:

“The launch of Bid Optimizer and Designer in Australia build on the foundation of our highly accurate Forecaster, with the objective of capturing maximum value and the back of our forecasting accuracy. The result is generating higher revenues for grid connected BESS, or optimising value behind the meter for customers with large energy loads, energy storage or generation. These products demonstrate our deep expertise in delivering intelligent, performance-driven solutions globally and our commitment to help Australian businesses add value through innovation.”