Leading energy company Avangrid, Inc., a part of the Iberdrola Group, announced that it has successfully finished a strategic pilot project with Tyba, an energy analytics and optimization platform, to improve its modeling of battery energy storage systems (BESS) and find possible sites for storage infrastructure siting across U.S. power markets. The program was created to enhance revenue forecasting, develop internal knowledge in the quickly changing U.S. storage market, and assist Avangrid in evaluating standalone and hybrid storage assets.
“As energy demand continues to surge across the country, battery storage will become increasingly critical for reliable energy supply,” stated Avangrid CEO Jose Antonio Miranda. “This pilot project with Tyba is just one example of Avangrid’s approach to investing in innovative and forward-thinking solutions that enhance our own operations while helping the U.S. meet its energy needs.”
“It has been great to partner with Avangrid as they advance their efforts in the energy storage sector,” stated Tom Thunell, Tyba’s Co-Founder and COO. “When honing an energy storage investment case, it is critical to understand how the battery will get its revenue. Tyba’s platform simulates battery operations – informed by experience optimizing over 2GWh of operating storage – to demonstrate not only how much a project may return, but how it will operate to achieve those outcomes.”
Through weekly meetings and interaction, Avangrid’s staff worked closely with Tyba during the pilot. The project’s main goal was to use Tyba’s platform to model BESS operations at around 2,400 sites spanning seven regional grid operators and independent system operators in the United States.
The introduction of novel pricing measures to estimate battery energy storage systems income between the daily maximum and lowest power prices was a significant breakthrough in the pilot. Avangrid experts were able to find the ideal sites for siting projects and screen for price volatility thanks to Tyba’s technology. Avangrid gained a better knowledge of the areas in which battery energy storage solutions may yield the highest return on investment as a result.
Using historical and anticipated power pricing, Tyba’s software also enabled Avangrid to model BESS operations in various market scenarios. It enabled Avangrid to conduct hundreds of stimulations customized for each regional grid operator and optimize battery charging and discharging strategies in real-time, day-ahead, and ancillary services (back-up power) markets.
Energy storage is a crucial part of Avangrid’s comprehensive, affordable energy solutions, and the company is always looking for ways to fulfill customer demands by integrating it into upcoming projects.
