Sandia Labs creates software showing how much money can be saved using energy storage

Technology

A new Sandia National Laboratories’ software application, called Quest, can help utility companies and corporate project developers assess how much money adding an energy storage system will save. (image courtesy Randy Montoya via Sandia National Laboratories)

ALBUQUERQUE, N.M. (KRQE) – Sandia National Laboratories released a new software application that can help companies figure out how much adding an energy storage system will save them. The application, called Quest, can also provide various scenarios and model the potential of solutions.

In a press release, Sandia explains that renewable energy sources like solar panels and wind turbines don’t continuously produce electricity. 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 analysis tool for businesses and civil infrastructure and a market-analysis tool that helps utility companies assess how much revenue an energy storage system would generate. Sandia electrical engineer Tu Nguyen explains that by using the analysis tool, businesses or city project managers can determine an estimate of how much money an energy storage system will save when combined with solar panels or additional power generators.

A consumer can input their location and rate structure they pay and can also input the type of renewable power system they have or would like to install. Nguyen states in the press release that typically, electric utilities charge more per kilowatt-hour during certain times when demand is high.

By reducing their electricity usage during those times, energy storage provides savings for customers on their electrical bills. Sandia reports that the market analysis tool was designed to provide small utility companies how much revenue an energy storage system would generate by providing services to enhance the grid’s stability. The tool reportedly has data for seven energy markets in North America.

Sandia also offers support through webinars and tutorials to assist new software users understand how to run the software.

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