UL releases modeling software for utility scale energy storage
Summary
The product, called HOMER Front, is a licensable web-based software platform for designing and optimizing energy storage systems. The software allows users to align battery augmentation strategies for participating in capacity and energy markets and meeting off-take agreement requirements. It provides insights on the wide set of possible revenue streams across diverse markets like Texas’ ERCOT and California CAISO operating regions. The set of services provided by the platform include: • None Battery capacity degradation and augmentation strategies to maximize revenue and minimize expenses • None • None Capacity markets such as resource adequacy in the CAISO market • None Sensitivity analysis to screen projects for economic viability and de-risk internal rate of return “By providing accurate, detailed results for different system configurations, HOMER Front allows developers and financiers to evaluate the system’s performance and make critical project decisions with confidence,” said Colin Tareila, engineering manager of renewables for UL. “We’re extremely pleased with the significant advantages we’ve seen HOMER Front provide through our work on UL’s advisory projects and feedback from early users of the software.
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