Thank you for Subscribing to Utilities Tech Outlook Weekly Brief
Smart Demand Response Management for Economic Operations in Distributed Energy Systems
By Utilities Tech Outlook | Tuesday, August 06, 2019
The popularity of demand response solutions has led to the development of highly efficient software solutions that can push the boundaries of smart energy management.
FREMONT, CA: HOMER Energy LLC, the global leader in microgrid and distributed energy system software and services, released the new feature of demand response capabilities as a part of its HOMER® Grid software for modeling the economic and engineering feasibility of grid-tied hybrid renewable energy systems. Now, owners of the utility plants can benefit from a better understanding of the potential of the energy they produce and thus, manage demand response contracts more efficiently.
The newly introduced capability is expected to give developers and providers better control and communication powers. Participation in demand response contracts can then be studied to coordinate incentive programs that benefit customers and investors. A demand response program works as an arrangement between utility and consumer wherein the consumer willingly caps usage whenever the service provider wants. By doing this, customers are able to earn credit. This arrangement benefits the service providers by enabling them to respond well to demand fluctuations. Industrial consumers of energy curtail demand during a certain period, allowing providers to allocate supplies wherever demands peak.
Smart demand response management prevents the need for expensive peaker plants that enable maintenance of supplies only during peak demand hours. Hence, distributed energy systems now have an opportunity to add efficiency by enabling smart load management with HOMER® Grid's solution. It promotes cost savings and incentivizes optimized energy usage so that critical requirements are met on a priority basis. The new offering entitles users to devise demand response events explicitly in the systems. It also helps analyze the interplay of factors and costs and recommends the best bids.
HOMER® Grid, a highly valuable offering from HOMER Energy LLC optimizes behind-the-meter, solar-plus-storage, and other distributed energy systems. It has many excellent features that users can access to improve their capabilities. Least cost combinations of resources, calculation of self-consumption, and best returns make HOMER® Grid a one-of-a-kind solution. The capabilities in the offering also involve value stacking, CHP capabilities, good dispatch strategy, risk quantification tools, and robust storage model. The tariff building application from HOMER can create accurate and customizable tariffs according to location and requirements, anywhere in the world.
HOMER Energy LLC has made its latest version of HOMER® Grid available for a free trial usage of twenty-one days. For existing users, the new capability is a free upgrade.
Apart from HOMER® Grid software, the company also provides a diverse range of solutions. HOMER Pro® microgrid software by HOMER Energy is meant to optimize microgrid designs. HOMER® Pro Controller API lets a controller write their own algorithms for making the distribution as economical as possible. HOMER QuickGrid is a free app that helps industrial users reduce their energy bills. The company also provides SaaS API through which, users can create their applications for web or mobile on the HOMER engine. These customized applications improve functionalities and make processes seamless.