Battery Model

To maximise the value of energy storage technologies, the role of efficient software systems escalates from a luxury to an imperative.

In a world grappling with palpable climate change effects and escalating CO2 emissions, the urgency to adopt cleaner energy alternatives is paramount. Among these, intermittent renewables like solar and wind energy present themselves as beacons of hope. However, their unpredictable nature demands a balancing counterpart. Batteries emerge in this role, not merely as energy reservoirs but as critical stabilizers, ensuring the consistent provision of energy.

The burgeoning battery market presents a dual-edged sword for enterprises: escalating demand for storage capacity, a testament to our drive to curtail carbon footprints versus the sobering reality of finite revenue streams. In this delicate balance, the role of efficient software systems escalates from a luxury to an imperative, especially for maximizing the potential value of energy storage.

Five pillars fundamental
to success in energy storage:
  • Incisive Forecasting
  • Comprehensive Modelling
  • Reliable Market Access
  • Efficient Operations
  • Astute Financial Management

Our journey, which began alongside pioneering battery optimisers in the UK, has seen myriad collaborations with leading firms in this sector. These partnerships have provided profound insights into the evolving software needs of the energy storage realm. We identify five pillars fundamental to success in this domain: incisive forecasting, comprehensive modelling, reliable market access, efficient operations, and astute financial management.

In Forecasting, one must judiciously craft proprietary data sets, ensuring they offer tangible value. The right forecasting methodology is essential, built upon accurate, complete, timely data accessible swiftly via an API. While statistical Modelling remains vital, the rise of neural networks in time series forecasting offers a potent mix of traditional and innovative techniques.

Battery Models must be comprehensive and adaptable. Supplier data, especially regarding battery efficiency and degradation, may not always be accurate. Thus, the flexibility to refine models post-deployment is crucial. These models should manage state of charge and schedule charge cycles and power outputs to align with TSO and market needs.

Battery revenue optimisation synthesises forecasting and battery modelling, establishing the framework for revenue stacking. This necessitates a competent algorithm that operates across varied time resolutions and can swiftly adjust to market and TSO signals.

For Market Access, agility and reliability reign supreme. Beyond mere API adherence, the data must align with TSO directives in terms of structure, resolution and timing. The rising ubiquity of bots in spot markets underscores the importance of scalability, especially as trade numbers swell. An abstraction layer in market access ensures adaptability across diverse markets.

When discussing battery operations, while a solitary BESS might lean on its SCADA system, diversified portfolios demand advanced systems. This includes dashboards with custom alarms based on a gamut of metrics. Monitoring multiple assets, a control system that bridges market data with battery management becomes indispensable.

Financial prudence is critical in these nascent battery markets. Accurate reporting and benchmarking solidify the efficacy of the forecasting and modelling phases. APIs and streamlined reporting ensure data transparency with key stakeholders.

Underpinning all software endeavours is the need for a robust infrastructure. Cloud services are the answer, offering scalability and state-of-the-art technology. Yet, a note of caution; relying heavily on provider-specific technology could have financial implications as portfolio needs evolve.

As the battery market unfurls, ballooning in capacity and technological prowess, a thrilling epoch beckons. Quorum is primed to navigate this transformative odyssey, contributing significantly to a sustainable future.

Want to find out more?

We would love to tell you more about the products
and services we provide energy storage business.

Let's Talk

Let's Talk

We use third-party cookies to personalise content and analyse site traffic.

Learn more