Energy Storage and Battery Technology: Modelling Investment Clarity.
Argand Solution’s GridMAP application quickly models hundreds of investment scenarios to get the information that you need to make a sound financial investment.
“It’s all about getting value from data…”
If there is one word that describes the relationship between energy generation, usage and storage, that word is: complexity.
Alastair Gets, Argand Solutions’ Lead Analytics Engineer: “Every part of the energy landscape is changing; generation and storage technology, export tariffs and energy costs, emission targets and legislation. While this leads to many exciting opportunities, it also means that decision making is difficult: increasing choices - more scenarios - a huge number of permutations…”
The questions that we hear at Argand are along the lines of:
· Is it better for us to export or store all the energy that we generate - is there a case for us to store and use at times that allow us to capitalise on the market prices for energy?
· If we decide to store, what battery size best suits the energy profile of our businesses and how can the battery assets be optimised as the demand and tariffs change?
Alastair: “The questions are often straight forward; the answers are more tricky – but we can help to determine the best choices for a wide range of scenarios; it’s all about getting value from data: we have developed software that takes into account many factors and strategies to provide you with the answers that you need to inform your investment decisions.”
The Argand software – GridMap – takes half hourly demand data from the client, or data collected using Argand monitoring services, or using Elexon profiles (for clients with no data), to build an energy profile of any business. The model then runs different generation and battery sizes and costs under various generation and storage scenarios, measures demand savings and gives return and payback outputs.
Alastair Gets: “GridMap allows us to get the answers about the best choice of battery power and energy and how it should operate. We factor in the costs of generation, the effects of tariffs, savings and revenues. We run battery strategies with different times for charging and discharging to make energy savings and explore revenue opportunities by using batteries as balancing and flexibility services for the Grid.”
Argand is independent; we are not tied to any solution, technology or manufacturer and we model many strategies across a wide range energy generation and storage assets.
To find out more about GridMAP please click here: gridmap.argandsolutions.com
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