Energy manufacturers can rely on battery energy storage to earn more benefits.
FREMONT, CA: Owners and operators of sustainable energy assets are adopting a new set of rules. They've become accustomed to solar and wind, the two most widely deployed renewable energy sources on the planet, over the last two decades.
Solar and wind energy are prevalent because they are inexpensive and thus very economical. However, considering wind and solar plants generate at the same time as other assets in their class (when it's windy or when the sun shines), these solutions start to suffer considerable price increases at maximum intensity. The system produces less value as compared to the added capacity. An alternative can be selling a part of energy by storing it. The rise of electric vehicles has enabled the asset owners with new energy storage options, which can be sold or reused in solar or wind plant operations.
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However, emerging battery asset management allows manufacturers to think beyond solar and wind power plants. Solar and wind power plants generate steady revenue. But batteries generate revenues through multiple potential sources, which keep changing as per the grid requirements and market trends.
Asset owners must know that the battery plants may not remain the same after a few years. The solution for the design process concludes with incorporating adaptability from the beginning. Although a few owners/operators may choose to enlarge their project at the beginning to allow for capacity deterioration and increasing use in the future, most battery systems have a flexible design that allows for potential development.
Advanced control software should be included with battery systems, allowing them to change operating profiles in response to new market opportunities. Such software systems should, ideally, integrate with grid infrastructure, allowing for automated reactions to system operator signals.
Battery monitoring and managing systems must include enormous data management capabilities, allowing real-time management and surveillance, providing real-time charge and discharge facility to maintain the process parameters, clear visibility of data amongst stakeholders, replacement and augmentation facilities throughout the battery life span, and providing assessment metrics and alert messages on any system failure or non-adherence to the process parameters.
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