ITP is proud to have been awarded an $88,000 Renewable Energy Innovation Fund grant from the ACT Government to develop bessIQ; an innovative web based energy storage optimisation tool that models the performance of photovoltaic systems and battery storage for residential, commercial or other single node micro- and mini-grids.
Investment in energy storage is increasingly needed to support higher levels of variable renewable electricity generation. To appropriately size new storage capacity, it is necessary to model how a potential storage solution interacts with on-site generation and consumption, and applicable tariffs. This creates a complex problem that is difficult to solve manually or with a spreadsheet.
There are small number of existing software applications that have traditionally been used to optimise complex energy system design problems, however, all have limited ability to simulate the optimal management of storage, demand charges or other complex tariff structures, or to incorporate existing infrastructure (i.e. brownfield sites).
bessIQ will fill this gap in the market, assessing the economic potential of PV and battery storage upgrades by computing the optimal size and management of PV generation and storage depending on specific site load profiles and electricity tariffs.
ITP will deploy bessIQ as a web application. Users will be able to set up site specific characteristics such as hourly load data and existing PV performance profiles (or configure tilt, orientation and type for new systems), electricity tariffs, and configurable storage performance and cost data. bessIQ will then compute the operation of the system to maximise utility (e.g. reduce demand charges, improve self-consumption). Simulation results for a given system will be presented in an analytics dashboard including graphs, tables, and downloadable data sets, providing insights on net present value, costs, value streams, and overall viability of scenarios requested by users. These will be downloadable in a form which allows the user to quickly incorporate results in reports and quotations.
Key users include third-party solar and battery installation firms targeting the rapidly growing residential, commercial and remote mini-grid markets around Australia, and internationally. These users will have access to bessIQ by paying competitive subscription fees, structured to cater for regular use with advanced features as well as occasional use.