A new tool to increase grid flexibility can now help customers easily integrate more distributed energy resources (DER) into a cleaner electric grid. Accordingly, the new Distributed Energy Resource Value Estimation Tool (DER-VET™), launched by the Electric Power Research Institute (EPRI) today, provides a free, publicly accessible, open-source platform for calculating, understanding, and optimizing the value of DER.
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Notably, the tool leverages DER based on their technical merits and constraints. In fact, EPRI developed DER-VET in collaboration with the California Energy Commission (CEC).
EPRI following past-technologies
Worth noting, the tool is actually an extension of EPRI’s StorageVET® tool, which facilitates understanding where to place and install an energy storage solution. Besides, it helps customers assess and choose the optimum size of it.
Thus, StorageVET®, current EPRI’s storage value estimation tool, helps decision-makers determine where to place and install energy storage. Besides, it improves energy storage project planning by enabling rapid analysis of scenarios with different storage sizes, costs, and value streams.
Similarly, DER-VET supports site-specific assessments for energy storage and different DER technologies. According to EPRI, this tool has several applications across the grid, including, for instance, valuations and impacts of energy storage, solar, wind, demand response, electric vehicle (EV) charging, internal combustion engines, and combined heat and power.
EPRI evaluates site conditions, load, and other data by leveraging this tool’s capacities to determine the optimal size, duration, and other operational characteristics for maximizing DER project benefits.
In this sense, Daniel Brooks, Vice President of Integrated Grid and Energy Systems at EPRI, commented; “DER-VET empowers developers, utilities, and regulators across the electric power industry to make better-informed DER application decisions. Particularly based on a comprehensive, real-world dataset.”
Moreover, “innovative tools are essential to capturing more value from increasingly complex DER solutions; which, as a result, enable greater electric grid flexibility and reliability,” added Brooks.
Similarly, David Hochschild, Chair, CEC, said; “Investments in clean energy innovation, such as the CEC’s EPIC grant supporting the development of DER-VET; are critical to accelerating California’s transition to a carbon-free energy system.”
Accordingly, “this tool is another important link in making better use of, and better integrating; our renewable and distributed energy resources supporting a more dynamic, responsive, and reliable grid.”