Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups working on solutions for the energy industry. As there is a large number of startups working on a wide variety of solutions, we decided to share our insights with you. This time, we are taking a look at 4 promising Energy Storage Software Solutions.
Heat Map: 4 Top Energy Storage Software Solutions
For our 4 top picks, we used a data-driven startup scouting approach to identify the most relevant solutions globally. The Global Startup Heat Map below highlights 4 interesting examples out of 143 relevant solutions. Depending on your specific needs, your top picks might look entirely different.
Nikola Power – Energy Storage Management Systems
Energy storage management systems aim to increase the value of energy storage through forecasting and manipulating thermal capacities within grids, power networks, batteries, and renewable energy plants. They provide real-time data and information, relieve transmission and distribution network congestion, maintain Volt-Ampere Reactive (VAR) control to simplify energy storage management. US-based Nikola Power offers an intelligent energy storage software that ensures efficient battery management for renewable energy sources and grids through the use of proprietary algorithms. It dynamically controls the battery performance and optimizes savings in behind-the-meter storage systems.
Peak Power – Energy Storage Optimization
The integration of renewable energy grids with traditional energy networks potentially poses a challenge for grid storage stability. This is where energy storage optimization comes into play. This software solution applies complex algorithms, like the particle swarm optimization algorithm, to configure the capacities of networks and commercial buildings, maximize storage benefits, diminish energy losses, minimize the violations in voltage and maintain peak demand reduction. Canadian startup Peak Power develops a software platform called Synergy to counterbalance peak demand for electric utilities and commercial buildings. It responds in real-time to market signals, forecasts peak events, determines operation times and optimizes the use of storage capacities in distributed energy resources systems.
Energsoft – Energy Storage Analytics
As energy producers work to decrease the use of fossil fuels by using more renewable sources, there is a need for continuous analysis of power capacities to eliminate any disparities between demand and energy source availability, like the sun or the wind. Energy storage analytics leverages big data and machine learning in order to extract energy storage insights in real-time and empowers users who receive regularly updated analytics on their capacities’ condition. Based in the USA, Energsoft develops a cloud-hosted Artificial Intelligence (AI) platform that aims to tackle the challenges of data collection, data stitching, and data analysis for sustainable energy batteries. Employing deep learning techniques, they aim to detect design problems, monitor battery conditions and reveal the need for any necessary or potential upgrades.
TWAICE – Energy Storage Simulation
Energy storage simulation addresses the issues and bottlenecks in energy storage facilities by replicating the behavior of energy networks with the use of simulation software and algorithms. Based on incoming power data, it is designed to predict lifetime performance and Return On Investment (ROI) for batteries and storage facilities. German startup TWAICE leverages the power of digital twin technology to simulate electric batteries. They combine the data collected from the battery management system, model libraries, and external data sources to build a high-precision model and perform additional analytics, intended to increase efficiency, reliability, and durability of energy storage.
What About The Other 139 Solutions?
While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence for your Proof of Concept (PoC), partnership, or investment targets. The 4 startups showcased above are promising examples out of 143 we analyzed for this article. To identify the most relevant solutions based on your specific criteria and collaboration strategy, get in touch.