According to Bloomberg New Energy Finance (Bloomberg NEF), the global lithium-ion battery market for energy storage will reach at least $239bn by 2040, as renewables come online and as technology costs fall. The early signs of this battery boom can be seen in the UK’s utilities sector, where one in three firms have already invested in onsite storage.
This week Zenobe Energy announced that it will use artificial intelligence (AI) to optimise its front-of-the-meter battery at Hill Farm, Leicestershire. The move will enable the 12MW Tesla unit to better take part in the utility markets of the future and will also extend its lifespan by tracking and managing the battery’s state-of-charge. Additionally, Zenobe Energy claims, it will make the facility more resilient and flexible – enabling it to play a role in maintaining energy security.
“As our energy market continues to be revolutionised by the growth of renewable sources, optimisation strategies in battery storage systems has never been more complex or critical,”
“We designed our algorithmic trading capability with companies like Zenobe in mind, who recognise the importance of innovation and optimisation to meet the needs of power-intensive businesses and the UK at large.” Open Energi’s director David Hill said.
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