The Electric Power Research Institute has introduced a tool to help utility companies and grid operators construct models based on different scenarios, resulting in “direct quantifiable benefits, versus direct quantifiable costs, over the lifetime of the system”. The company’s senior project engineer, Ben Kaun, also added that the Energy Storage Valuation Tool was designed to help the California Public Utilities Commission in evaluating the many scenarios its stakeholders had come up with.
The application draws on the vast energy storage data EPRI has amassed over the years through its comprehensive reports and research into the industry. It comes with mapping and grid modelling features, allowing users to look at the essential costs and benefits associated with any energy storage project.
At $10,000, the software is hardly inexpensive, but its creators harbour high hopes for its impact. The ESVT will cut through the haze of uncertainty shrouding the industry, and provide a standard path for all stakeholders in an energy storage project. With the numerous variables and data involved in implementing an energy storage system, will the ESVT be an indispensable tool for our energy future? Leave your comments below!
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