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Reduce Costs and Future-Proof Your Utility with Energy Storage and Solar-Plus-Storage

Powered by results: Convergent has a 100% completion rate for utility-approved projects and has invested over $1bn in energy storage and solar-plus-storage systems in operation or under development.

Is Energy Storage Part of Your Integrated Resource Plan?

With increasing renewable generation coming online, energy storage is a critical tool for ensuring reliability in the face of growing intermittency. While solar and wind provide energy—utility-scale energy storage is the proven pathway to increasing capacity, deferring costly system upgrades, and addressing power quality concerns. The future of energy is already here.

Plan Ahead with Convergent

Convergent has over a decade of expertise designing, owning, and operating energy storage systems that increase reliability and reduce costs for utilities.

When I joined Convergent almost a decade ago, energy storage was a new tool for system planners. Today, it is an essential and cost-effective way to reduce wholesale demand and energy costs while improving system resilience and reliability.

Jim TarpeyProject Executive

Customer Spotlight: Central Maine Power

Select Customers and Partners

The Key Applications for Energy Storage

Coincident Peak Demand Charge Avoidance

PEAK IQ, Convergent’s energy storage intelligence software, can forecast electric system peaks and discharge the system at those times, reducing electricity costs and the need for additional generation. This is also known as “peak hitting” or “peak shaving.”

Energy Arbitrage

Because electricity historically could not be stored, electricity prices are usually time-dependent – i.e., they are more expensive during times when people need it most (e.g., a hot summer afternoon) and cheapest when it’s needed least. Energy arbitrage takes advantage of “time of use” electricity pricing by charging an energy storage system when electricity is cheapest and discharging when it is most expensive.

Solar Firming

Solar firming with energy storage uses the asset to “firm” or smooth any gaps that may arise between the solar energy supply and the demand due to clouds or time of day. 

Non-Coincident Peak Demand Charge Avoidance

PEAK IQ can forecast a facility’s peak usage times and dispatch an energy storage system during those hours, reducing electricity costs. 

Non-Wires-Alternative (NWA)

The power lines on which electricity is transported (“transmission” and “distribution” lines) are expensive to build and maintain, and incredibly difficult to site, as most people do not want new power lines near them. By increasing capacity and resiliency on the grid at the most strategic times, intelligently deployed energy storage avoids or defers the need to build out new infrastructure (wires), which is called a Non-Wires Alternative.

Capacity

Energy storage provides additional local and system capacity at the most critical times.

Ancillary Services

Energy storage intelligence like PEAK IQ enables an asset to provide ancillary services to the electric grid, including Frequency Regulation and Operating Reserves.

PEAK IQ® = The Convergent Difference

Convergent’s PEAK IQ® energy storage intelligence is creating maximum value for our customers. We have saved businesses up to 40% off their electricity bills and deferred multimillion infrastructure upgrades for utilities with PEAK IQ®. We do this using state-of-the-art machine learning, artificial intelligence, and advanced analytics to make data-driven decisions about when and how to dispatch energy storage for optimal value creation.

Partnering with Convergent – How it Works

For the majority of our customers, Convergent finances, designs, and owns the battery storage system on their behalf, a model referred to as a “storage capacity agreement.” For these customers, the battery system reduces costs for members or ratepayers starting on day one and requires no capital outlay. 

Convergent also has flexible options for utilities who would like to invest their own capital into the projects.

Is Energy Storage Right for Your Utility?

If you’ve resolved to significantly reduce wholesale demand or energy costs this year, increase reliability, or integrate renewables, Convergent can help.

Contact us to determine the feasibility of storage on your grid and the exact savings or infrastructure solutions a battery storage system can provide for your utility.

If there is an RFP or RFI in which you’d like Convergent to participate, please click here.

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