STOCKHOLM, September 5 2023 - Plexigrid and its partners have started an exciting project in Arholma that focuses on improving the profitability of distributed energy resources to ensure reliable delivery of energy.
To strengthen security of supply in the grid, strategies have been explored involving local energy storage. These include battery storage in combination with solar power, which in case of unplanned outages can quickly supply areas with power through so-called island operation. Despite the potential benefits, investment in these technologies can be costly, and achieving profitability can be a challenge.
To address this challenge, a possible solution has been explored: sharing the use of these local energy storage and generation capacities to other markets, such as the balancing market and the flex market, when backup power is not needed.
The key challenge is to identify when the risk of interruption is high and when it is low. In addition, it must be decided how best to use the energy storage: should the fully charged capacity be saved for a possible outage or should the excess energy be sold on the market?
The goal of the project is to solve these challenges through an advanced algorithm, developed by the Royal Institute of Technology (KTH), which will be integrated into the Plexigrid platform. This algorithm will evaluate the risk of disruption using data collected from various sources, including weather forecasts and potential cyber threats.
Based on this risk assessment, Plexigrid will then send control commands to the distributed energy resources. These commands will instruct the resources to either reserve or release capacity depending on the current outage risk level. This will allow the energy storage to be used in an optimal way to meet the needs of different markets.
Anders Nilsson, who is responsible for business development in the Nordic region for Plexigrid, emphasizes the importance of finding sustainable business models that can increase the profitability of distributed energy resources.
“I see finding good business models that can increase the profitability of Distributed Energy Resources as a key to unlocking the potential of these resources. Both to solve the capacity challenge in the electricity grids and to manage the energy transition. That is why this project is so important.”, says Anders Nilsson, responsible for business development in the Nordic region for Plexigrid.
For further information about the project, please contact Anders Nilsson.
Business Development Nordic Region
+46 (0) 722 43 48 12