PROFIT OPTIMIZATION FOR STATIONARY ENERGY STORAGES WITH BATTERY ANALYTICS
Battery analytics software company TWAICE today announced its latest solution for the energy market: The Operating Strategy Planner for stationary energy storages. The first customers to leverage this optimization for their storage operation are leading European utilities. Amidst margin pressure, multi-use operation is becoming common place and understanding battery aging is crucial for financial success.
- TWAICE expands its solution portfolio to drive profitability for stationary energy storage owners and operators
- Leading utilities already optimize three multi-MWh storages with the software
- The Mobility House and TWAICE to publish case study on the solution’s operational and financial impact
TWAICE provides predictive analytics software that optimizes the development and operation of batteries. For the energy sector this translates as enhanced transparency and predictability of stationary battery storages degradation. The result is optimized storage operations and reduced technology risks, for example, through warranty management and tracking. The Munich battery experts are now expanding their portfolio with an Operating Strategy Planner, a surefire method to extract maximum profit from stationary energy storages.
Major European utility companies are among the first customers to connect their storages to the TWAICE battery analytics software. According to Stephan Rohr, Co-CEO at TWAICE, others are soon likely to follow suit:
“There has been huge interest in the Operating Strategy Planner, which empowers owner and operator decision-making to deliver significant increases in return on investment for energy storage systems portfolios. We are delighted to have major utilities as first customers of this cutting-edge new product”.
Batteries are pivotal to the success of renewable energy. Their capacity to store and generate electrical energy on demand, in only seconds, is unique. It makes them a vital element of the storage solutions required to stabilize grids in the face of fluctuating and decentralized energy generation. As highly complex systems, batteries must be expertly managed if optimum performances are to be consistently delivered. The key: transparency into the aging behavior of batteries.
Stationary energy storage use cases and operational constraints have differing effects on battery degradation. This has a large impact on the individual business case and risk profile. The TWAICE Operating Strategy Planner enables users to create scenarios and conduct sensitivity analyses for different use cases and boundary conditions. They can compare the scenarios with each other and find the optimum and learn how long the storage will last with the selected strategy.
The software empowers storage operators and owners to achieve the optimal returns under consideration of battery health. This means deploying sophisticated multi-use strategies and identifying the right mix, for example of intraday trading and frequency response. The algorithms that market the capacity of battery storages are provided with the most profitable boundary conditions for operation. The opportunity costs of each trade can be assessed, and the profits are maximized. All of this, while reducing the overall risk of unexpected battery aging over the lifetime.
The tangible value of predictive battery analytics solutions for stationary storage operations has been assessed by TWAICE and The Mobility House in a case study based on in-field batteries. The case study will be published in April.
TWAICE provides predictive analytics software that optimizes the development and operation of lithium-ion batteries. TWAICE’s core technology is the digital twin – a software that combines deep battery knowledge and artificial intelligence to determine the condition and predict aging and performance of batteries. This makes complex battery systems more transparent, effective and reliable. As the leading battery analytics software for global players in the mobility and energy sectors, TWAICE is committed to increasing the lifetime, efficiency and sustainability of the products that power the economy of tomorrow.