Money

Sandia Labs creates software program exhibiting how a lot cash could be saved utilizing vitality storage

ALBUQUERQUE, NM (KRQE) – Sandia National Laboratories released a new software application that can help companies find out how much they can save by adding an energy storage system. The application called search, can also provide various scenarios and model the potential of solutions.

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In a press release, Sandia explains that renewable energy sources like solar panels and wind turbines do not produce electricity continuously. Energy storage systems such as lithium-ion battery-based designs and pumped storage hydropower can increase the stability and reliability of the power grid.

Quest has two tools, an enterprise and civil infrastructure analysis tool, and a market analysis tool that utility companies can use to assess how much revenue an energy storage system would generate. Sandia electrical engineer Tu Nguyen explains that the analysis tool can help companies or city project managers estimate how much money an energy storage system will save when combined with solar panels or additional power generators.

A consumer can enter their location and tariff structure that they are paying for, and they can also enter the type of renewable electricity system they have or want to install. Nguyen states in the press release that during certain times when demand is high, electricity providers typically charge more per kilowatt hour.

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By reducing electricity consumption during these times, the energy storage system saves customers electricity costs. Sandia reports that the market analysis tool was developed to help small utility companies understand how much revenue an energy storage system would generate by providing services to improve grid stability. The tool reportedly contains data for seven energy markets in North America.

Sandia also offers webinars and tutorials to help new software users understand how the software runs.