Frost Radar™: ​ Digital Platforms for Renewable Energy and Battery Storage Optimization and Trading, 2022 Front-of-the-Meter Focus​​

Frost Radar™: ​ Digital Platforms for Renewable Energy and Battery Storage Optimization and Trading, 2022 Front-of-the-Meter Focus​​

A Benchmarking Systemto Spark Companies to Action—Innovation that Fuels New Deal Flow and Growth Pipelines

RELEASE DATE
16-Sep-2022
REGION
Global
Research Code: K7C6-01-00-00-00
SKU: EG02263-GL-MR_26911
$4,950.00
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SKU
EG02263-GL-MR_26911
$4,950.00
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Description

Flexible generation capacity and storage are key elements of the energy transition and the continued expansion of intermittent renewable energy (RE) because they offer unparalleled flexibility to optimally deliver energy and ancillary services. Frost & Sullivan forecasts global grid-scale battery energy storage systems (BESS) to experience rapid expansion in the coming years, reaching 259.8 GW by 2030 at a compound annual growth rate of 34.2% from 2021.

As the energy transition advances, power generation portfolios and market rules become more sophisticated, making decision analysis more difficult. Traditional human control for optimizing power generation and market participation becomes ill-equipped to maximize the value of stand-alone storage or hybrid power plants. Powerful digital solutions encompassing machine-driven forecasting and optimization and trading algorithms are required for more efficient use of energy resources and to optimize the strategic and financial value of battery storage assets, both stand-alone and colocated with renewables.

Frost & Sullivan estimates that about 20 GW of RE and BESS are being optimized using a combination of artificial intelligence-based software and human expertise. As RE and battery storage markets expand, so will the demand for software platforms to address price and demand volatility, manage risk, and unlock the full value of BESS.

This research service includes competitive insights on the top 10 vendors providing digital platforms for optimization and trading of front-of-the-meter RE and BESS as well as Frost & Sullivan’s proprietary Frost RadarTM benchmarking analysis of each vendor in terms of overall growth, solution offerings, growth strategy, commitment to innov ation, and understanding of current and future market trends. The vendors profiled were determined at the analyst team’s discretion for having demonstrated excellence in growth, innovation, or both.

Author: Maria Benintende

Flexible generation capacity and storage are key elements of the energy transition and the continued expansion of intermittent renewable energy (RE) because they offer unparalleled flexibility to optimally deliver energy and ancillary services. Frost & Sullivan forecasts global grid-scale battery energy storage systems (BESS) to experience rapid expansion in the coming years, reaching 259.8 GW by 2030 at a compound annual growth rate of 34.2% from 2021. As the energy transition advances, power generation portfolios and market rules become more sophisticated, making decision analysis more difficult. Traditional human control for optimizing power generation and market participation becomes ill-equipped to maximize the value of stand-alone storage or hybrid power plants. Powerful digital solutions encompassing machine-driven forecasting and optimization and trading algorithms are required for more efficient use of energy resources and to optimize the strategic and financial value of battery storage assets, both stand-alone and colocated with renewables. Frost & Sullivan estimates that about 20 GW of RE and BESS are being optimized using a combination of artificial intelligence-based software and human expertise. As RE and battery storage markets expand, so will the demand for software platforms to address price and demand volatility, manage risk, and unlock the full value of BESS. This research service includes competitive insights on the top 10 vendors providing digital platforms for optimization and trading of front-of-the-meter RE and BESS as well as Frost & Sullivan’s proprietary Frost RadarTM benchmarking analysis of each vendor in terms of overall growth, solution offerings, growth strategy, commitment to innov ation, and understanding of current and future market trends. The vendors profiled were determined at the analyst team’s discretion for having demonstrated excellence in growth, innovation, or both. Author: Maria Benintende
More Information
Author Maria Benintende
Industries Energy
No Index No
Is Prebook No
Podcast No
WIP Number K7C6-01-00-00-00