Enovation Analytics has announced the expansion of its energy industry leading platform as well as ongoing AI and machine learning development in price and market forecasting. The new release includes addition and expansion of distinctive capabilities for:
- Energy Storage and Distributed Energy Resources (DER) project analysis,
- Distribution Planning and non-Wires Solutions alternatives,
- FERC 2222 impact analysis engine
- Advanced Scenario Modeling through stochastic analysis.
Electric Utilities, Distribution Planners, Investors, and Developers can now see the growing impact of DERs and electric vehicles (EVs) individually and on feeder loads as well as size distributed and non-wire assets for transmission and distribution (T&D) deferral.
The Enovation Analytics artificial intelligence (AI) engine utilizes machine learning algorithms to prioritize efficient deployment of capital regarding asset size, location and associated hedging strategies. The interactive databases incorporated into the engines allow for analysis and comparison across multiple energy technologies, asset configurations, and locations down to the zip code level of granularity. The addition of stochastic analysis functionality allows for next level due diligence analysis in an increasingly sophisticated financial and investment environment.
Integrated regulatory and ISO specific optimization engine enables accurate and realistic market behavior for all distributed energy assets. The platform allows the user to easily model market constraints to determine the impacts of future regulatory changes.
As industry veteran David Hyland points out, “The new release enables utilities to make more sound financial and reliability decisions and use their constrained resources much more effectively.”
Even beyond the enhanced capabilities in this release, the AI, optimization, and machine learning teams continue to advance the art of forward pricing, incorporating changing generation mix as non-dispatchable renewables and energy storage achieve unprecedented and accelerating market penetration.
Terry Bickham, Head of Product Management for Enovation Analytics shares, “The new release brings together state of the art DER and distribution modelling – great analysis tools, integrated real world data, and a more intuitive UI gives the platform breadth and value beyond anything the energy world has ever had.”
Decades of energy strategy consulting engagements and utilization by power industry leaders went into the development and methodology behind this analytics tool which is now available to the market on a one-time or subscription basis. Enovation Analytics provides analysis and insight on renewable energy and battery technology deployments across multiple geographic areas with real data, not just theoretical models. A demo with real world data can be scheduled with anyone interested in exploring how the platform can accelerate their success.