Energy storage economic valuation and optimization
Davion M. Hill
Finding the most feasible energy storage solution for your storage system, and offering an impartial recommendation based on thorough assessments and modelling
When modernising grids to incorporate a wider generation portfolio, a proper understanding of advanced distributed energy resources (DER) is needed to quantify all the benefits as well as the potential impacts. The impacts often provide drivers for mitigating technologies such as advanced energy storage systems. Hence, the energy system’s potential requirements for storage must also be assessed as well as whether the storage system is an economically viable solution, a task demanding in-depth know-how and experience.
DNV GL’s Energy Storage Valuation service provides you with that expertise. It helps energy providers decide if, when, where and how much energy storage they need. And it lets utilities accurately evaluate the range of potential storage applications.
Best energy storage
Through this service, you get a thorough and completely independent assessment of your scenarios, storage technologies, benefits, and costs. The analysis employs an embedded industry-supported simulation model. Our team performs a completely impartial study of the financial impacts of implementing storage along the grid. We then propose a tailored method to identify the best solution for your particular application.
- Allows parameter input for a specific cases and technology performance characteristics
- Includes key variables such as storage location, storage sizing, distributed generation profiles, load profiles and storage control modes
- Accepts storage and operating cost assumptions based on proposed storage technology and installation requirements
- Provides multiple operational scenarios showing how the system would actually function
At the end, you receive recommendations of how energy storage will operate on your system and an overview of the potential revenue benefits from deploying the device.
Answering your exact needs
We offer a rigorous, independent, third-party analysis for your systems, anywhere in the world. Our experts work closely with you throughout the process to ensure we answer your exact needs. The results are designed to support a business or rate case for energy storage, essential when making large-scale investments in these technologies.