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Why is software important for energy storage?

Software is rapidly becoming recognised as key to the value proposition and bankability of energy storage, which in turn lies at the heart of the energy transition. Andy Colthorpe speaks to three providers of software aimed at the energy storage industry.

What are energy storage management systems?

Energy storage management systems are systems that increase the value of energy storage by forecasting thermal capacities within electricity grids, batteries, and renewable energy plants. They provide real-time data and information and help relieve transmission and distribution network congestion, maintaining Volt-Ampere Reactive (VAR) control.

What is energy storage analytics?

Energy storage analytics refers to the use of big data and machine learning to extract insights in real-time from energy storage systems. Energsoft, a US-based startup, is developing a cloud-hosted AI platform to address the challenges of data collection, stitching, and analysis for sustainable batteries.

What is energy storage simulation?

Energy storage simulation is a process that replicates the behavior of energy networks to address issues and bottlenecks in energy storage facilities. It uses incoming power data to predict the lifetime performance and return on investment (ROI) for batteries and storage facilities.

How many energy storage software companies are there?

Through the Big Data & Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, 143 energy storage software companies have been identified.

Why is energy storage optimization important?

Energy storage optimization is a hot topic because this software solution maximizes storage benefits and minimizes energy losses and volatility by applying complex algorithms, like the particle swarm optimization algorithm, to configure the capacities of networks and commercial buildings.