Post: Software solutions to optimize distributed energy assets 

Software solutions to optimize distributed energy assets 

In today’s energy landscape, distributed energy resources (DERs) play a crucial role in meeting the rising demand for electricity while enabling a transition towards more sustainable and resilient grid. These distributed assets, such as solar panels, wind turbines, batteries, and demand response resources, provide an opportunity for businesses and consumers to actively participate in the energy market and optimize their energy consumption and production. But, with numerous markets available for dispatching power or demand response, the challenge lies in maximizing revenue while ensuring environmental and operational goals are met.  

Traditionally, many optimizers prioritize revenue from ancillary services, which provide essential grid support functions such as frequency regulation and voltage control. While ancillary services are crucial for grid stability, GridBeyond recognizes that a broader perspective is required to maximize economic benefits and foster sustainable practices. 

GridBeyond takes a holistic approach to tackle this challenge, and by harnessing the power of AI and its suite of innovative tools, helps its clients to achieve optimal project design, operational strategies, and automated trading, thereby maximizing profits and promoting sustainability. GridBeyond’s solution is modular, allowing you to tackle the challenges at your own pace.  

In this article we summarise the four main modules: Designer, Forecaster, Bid Optimizer and Baseline.  

Designer 

A powerful tool to assist project developers in planning, designing, and analyzing prospective investments in the energy sector.  

Seamlessly evaluate thousands of project configurations to simulate both front- and behind-the-meter distributed energy resource projects in all wholesale and retail energy markets. Forecast project revenue and identify key operational tactics. Develop scenarios to stress test project viability using the AI engine to generate synthetic prices, run Monte Carlo simulations, and parametric sensitivities. Identify and advance enterprise net zero goals. 

Forecaster 

Forecaster is used to make accurate, real-time decisions about resource allocation and market participation, based on current and historical demand, supply, price, weather conditions, and a host of other constantly evolving variables.  

With these insights, users can make profitable and confident decisions for asset planning and operations seconds, days, and years into the future. Forecaster continuously adapts and auto-retrains for time-series forecasts using reinforcement learning as the approach.  

Bid Optimizer 

AI-powered optimization to drive profitability to new heights by ensuring optimal bids that maximize gross margin or P&L across all forward trading periods. 

In today‘s competitive marketplace, green generation and energy storage asset owners and operators face a significant challenge: how to ensure maximum profitability amidst the  complexities of the least-cost power markets and the operational demands of ERCOT market bidding. Addressing these concerns becomes even more critical as asset owners strive to optimize their offers and participate successfully in wholesale power markets.  

Bid Optimizer allows you to enhance the real-time dispatch of DERs. Optimizer delivers benefits to uncover new revenue streams and improve your competitive position by aggregating, buying, and selling green energy.  

Baseline 

The path to net zero starts with accurate emissions accounting. But evaluating your performance can be challenging. Built on top of our metering solution, Baseline allows users to track their real-time metrics and progress towards corporate ESG goals. 

By allowing clients to visualize device/meter-level energy, power, frequency at the device and/or meter-level and at a portfolio-level view for multi-site customers to track real-time metrics and progress towards corporate ESG goals. 

Automated trading for maximum revenues 

One of the key differentiators of GridBeyond’s approach is its integration of automated trading. By connecting the platform directly to energy markets, GridBeyond’s software can make real-time decisions to maximize revenue based on market conditions. The automated trading feature ensures that distributed energy assets are dispatched when market prices are favorable, thereby maximizing revenue generation opportunities. 

Benefits of GridBeyond’s Holistic Approach 

GridBeyond’s holistic approach to distributed energy assets offers several benefits: 

• Increased Revenue: By optimizing dispatch timing and market selection, businesses can significantly enhance their revenue from distributed energy assets. 
• Enhanced Energy Efficiency: AI-driven operational strategies enable businesses to consume energy more efficiently, leading to reduced waste and lower operational costs. 
• Environmental Sustainability: By focusing on meeting environmental targets, GridBeyond’s approach contributes to the transition to a low-carbon energy future. 

• Grid Stability: Though not solely prioritizing ancillary services, GridBeyond’s approach ensures that energy assets can still support grid stability when needed. 
• Flexibility and Adaptability: The platform’s AI models can adapt to changing market conditions and operational needs, ensuring long-term profitability and resilience. 

Conclusion 

GridBeyond’s holistic approach to distributed energy assets sets a new standard for revenue maximization and sustainability in the energy sector. By leveraging AI and innovative tools, businesses and consumers can navigate the complexities of energy markets, make data-driven decisions, and optimize the use of their distributed energy assets.  

The combination of automated trading, optimal project design, and a commitment to environmental targets positions GridBeyond as a pioneer in the ongoing energy transition, driving the growth of sustainable and profitable energy solutions for a greener future.