GridBeyond, an Irish company that uses artificial intelligence (AI) and data to optimise the performance of renewable energy generation and storage assets, has launched its Bid Optimiser and Designer solutions in the National Electricity Market (NEM).
The company said its AI-based Bid Optimiser platform combines physics-based battery modelling with adaptive market intelligence to eliminate guesswork from energy and ancillary market involvement, helping owners to maximise the profitability of their assets.
“The system continuously evaluates market opportunities across all markets; ancillary services and energy, selecting the most profitable strategy, while managing operational constraints such as state of charge, efficiency and cycling warranty limits,” it said.
The tool also offers the opportunity for users to customise their trades, view trading history and compare against foresight through the cloud-based interface.
GridBeyond said its Designer product helps asset owners plan, design, and analyse prospective investments, allowing them to optimise project design and operations to maximise revenue from real-time markets and make savings on energy spend.
“As large-scale battery investment and behind-the-meter installations grow rapidly, real-time battery trading is becoming more challenging and requires sophisticated tools that leverage AI to simplify decision-making whilst managing complex offtake agreements and merchant revenues,” the company said.
The introduction of Bid Optimiser and Designer follows the launch earlier this year of the company’s Forecaster solution.
Chris O’Brien, Country Manager of Australia at GridBeyond, said the aim is to provide customers with a suite of tools that allow them to explore various trading scenarios and quantify values and the probabilities related to different market participation strategies.
“The result is generating higher revenues for grid-connected battery energy storage systems, or optimising value behind the meter for customers with large energy loads, energy storage or generation,” he said.
“These products demonstrate our deep expertise in delivering intelligent, performance-driven solutions globally and our commitment to help Australian businesses add value through innovation.”
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