Global smart energy company, SolarEdge Technologies, is launching an innovative solution for grid services and virtual power plants, to support a shared energy economy.
The grid services offer aggregative control and data reporting enabling the pooling of solar PV and storage in the cloud for the creation of virtual power plants.
The solution is expected to provide utilities with the tools to leverage distributed energy generation systems to more efficiently meet demand.
According to the company, energy retailers will enjoy protection from price peaks and PV system owners can increase their revenue from joining this new energy economy.
With the increasing proliferation of PV and storage around the world, the energy production industry is transitioning from a centralised system to a distributed network in which energy is produced closer to the location it is stored and consumed.
This provides PV and storage system owners with a new revenue stream opportunity by selling their self-produced and stored energy.
However, the new complex network of distributed generation requires sophisticated management platforms to provide real-time, aggregated control of the demand and supply of energy. Read more:Solar Decathlon Middle East competition now open
“With the continued evolution in PV and storage, renewable energy can be affordable and abundant. We are moving closer to the day when everyone will produce, store, and sell their own energy,” stated CEO of SolarEdge, Guy Sella.
The company claims that “as PV markets evolve from feed-in tariffs to net-metering and finally to self-consumption, the grid services will provide homeowners with the opportunity to maximise self-consumption and take advantage of time-of-use tariffs as a revenue stream.”