SolarEdge Technologies, Inc., a smart energy specialist, is launching a solution for grid services and virtual power plants, to support a shared energy economy. SolarEdge’s grid services offer aggregative control and data reporting enabling the pooling of PV and storage in the cloud for the creation of virtual power plants. Offering benefits to all stakeholders, the solution will provide utilities with the tools to leverage distributed energy generation systems to more efficiently meet demand. 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 centralized 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.
The solution helps to resolve a variety of complex energy issues such as, generation shortages, transmission bottlenecks, energy arbitrage, and frequency imbalances, thus reducing the need to invest in additional and expensive infrastructure. It will also provide energy retailers with protection against price peaks by facilitating access to stored energy. 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 maximize self-consumption and take advantage of time-of-use tariffs as a revenue stream.