Peak Power Inc.
The electricity grid is undergoing a dramatic transition as the centralized model of production and distribution is transforming into a decentralized system, where consumers of energy will have the ability to produce, store and sell power. Battery energy storage, with its ability to balance the supply and demand of electricity, is a key enabler of this transition. Energy storage has the potential to provide multiple benefits, including cost savings, enhanced grid resiliency, GHG emission reduction, improved power quality, and increased utilization of grid assets. For these benefits to be realized however, intelligent software controls that respond to market signals and predict the most efficient times to discharge are required.
In this project, Peak Power aims to validate the economic case for energy storage and demonstrate its self-learning controls software across a number of customer sites in Ontario and New York. Peak’s software will enable effective battery energy storage usage in commercial buildings, reducing peak electricity demand from the electricity grid. By proving an economic business case and quantifiable GHG reduction potential, this project hopes to serve as a model for the emerging energy storage industry in Canada.