Post: Q&A : Is GridBeyond primarily focused on operating as a virtual power plant, or do you also engage as a plant player in the energy market? 

Q&A : Michael Phelan, CEO and Co-Founder, GridBeyond 

Is GridBeyond primarily focused on operating as a virtual power plant, or do you also engage as a plant player in the energy market? 

At GridBeyond, our primary focus lies in the operation of virtual power plants (VPPs), a role that is evolving towards the implementation of distributed energy resource management systems (DERMS). This transition reflects our commitment to adapt to the changing landscape of the energy market, where the integration of diverse energy resources and the optimisation of grid stability are paramount. 

Along with the proliferation of renewables onto power systems globally, there is an increasing focus on location, which stems from the growing constraints observed on local grids. As renewable energy sources like solar and wind become more prevalent, the variability and intermittency associated with these sources pose significant challenges to grid stability. Factors such as weather patterns, geographical distribution, and demand fluctuations further exacerbate grid constraints, necessitating innovative solutions for effective energy management. 

In this context, assets like batteries and flexible loads emerge as critical components in mitigating grid constraints. By strategically locating these assets within the grid infrastructure, we can optimise their utilisation to alleviate congestion points and balance supply and demand in real-time. The ability to modulate energy consumption or storage in response to grid conditions enables us to enhance grid stability while maximising the value derived from energy market participation. 

GridBeyond’s approach encompasses a holistic view of energy management, integrating advanced technologies and intelligent algorithms to optimise asset performance and energy efficiency. Leveraging artificial intelligence (AI) and machine learning (ML), we forecast energy availability, market prices, and demand patterns with unprecedented accuracy. These insights empower us to make data-driven decisions in real-time, ensuring optimal asset utilisation and market participation for a variety of different types and classes of assets. 

Furthermore, our focus extends beyond mere grid management to encompass broader sustainability goals, particularly in the context of corporate social responsibility and environmental stewardship. Many companies are increasingly committed to reducing their carbon footprint and transitioning towards renewable energy sources. As a result, there is a growing demand for solutions that enable businesses to achieve their sustainability objectives while also realising economic benefits. 

GridBeyond’s platform not only facilitates grid stability and energy market participation but also enables businesses to align their energy consumption with sustainability goals. Through the integration of renewable energy sources, energy storage, and demand response capabilities, we empower businesses to optimise their energy usage, reduce emissions, and contribute to a cleaner, more sustainable future. 

The evolution of our platform reflects ongoing advancements in energy technology and regulatory frameworks, which are driving the transition towards a more decentralised and dynamic energy ecosystem. As distributed energy resources proliferate and grid management becomes increasingly complex, the role of virtual power plants and DERMS becomes even more critical in ensuring grid resilience and sustainability. 

News | 16 April 2024

GridBeyond closes €52M Series C funding round to continue its platform evolution and invest in new & existing markets

GridBeyond closes €52M Series C funding round to continue its platform evolution and invest in new & existing markets Smart […]

Learn more