Energy Optimized: Wärtsilä Energy’s White Paper on Greensmith Technology

Today’s energy landscape is changing. There is a global energy transition underway in which renewable energy sources, led by wind and solar power, will ultimately replace legacy thermal generation. Falling supply costs, coupled with technology innovations in energy storage, software, and automation, are facilitating this change. This sponsored white paper explores:

  1. The diverse challenges facing electric grids today
  2. Optimization of energy generation
  3. Smart algorithms and the modular ‘rules-based engine’
  4. Greensmith’s GEMS optimisation software platform and controls suite

Enabling Versatility: Allowing Hybrid Resources to Deliver Their Full Value to Customers

Hybrid resources are growing dramatically. Energy storage-paired generators offer enhanced capabilities and can respond to economic signals differently than traditional generator resources. Yet, many grid planning rules overstate the cost of interconnecting hybrid resources, and operating rules unduly limit the flexibility and other services that these resources can provide. Industry practices, market rules, and regulations need to be updated to remove barriers to entry and allow these resources to offer their full value to the power system, which will enhance market competition and ensure just and reasonable rates.

Implications of Rate Design for the Customer-Economics of Behind-the-Meter Storage

This work provides insights for the two main sources of bill savings for residential and commercial customers – demand charge reductions and arbitrage of energy charges – considering a range of customer profiles and retail rate designs. Storage can reduce monthly demand charges, which are dependent on the customer’s billing demand in kW rather than the amount of energy they consume in kWh, by charging during times of low energy consumption and discharging during peak consumption hours, thereby reducing peak power consumption from the grid. Storage can also reduce electricity bills by charging the storage during low-priced hours and discharging during high-priced hours, taking advantage of price-differentials of time-varying rates. This study considers a variety of demand charge designs and rates that allow for energy arbitrage.

Operational Risk Management in the U.S. Energy Storage Industry

This white paper describes how fire and thermal event risk prevention and management is currently being addressed in the storage industry, with a focus on lithium-ion batteries due to their current market dominance in new deployments. The paper outlines the types of operational risks in energy storage applications, the history of the industry’s attention to fire and thermal event prevention, current codes and standards governing battery storage systems, and additional best practices.