Today’s electricity grids are increasingly requiring technologies that can accelerate the inclusion of clean, reliable, and affordable energy resources in conventional infrastructure. There are a vast variety of energy resources providing power to today’s grids and these resources can be ramped up or down based on a variety of conditions, mostly weather-related, that determine power generation capacity from resources such as sun, wind, and ocean. As a result, these resources need to be optimized to make sure that the grid is efficient and decarbonized.
Governments have started increasingly realizing that with the proper optimization, aggregation, and dispatch of flexible resources at scale and in real-time, a lot more volume of renewable power can be brought into the grid. This could also provide a vast set of other benefits that can make the grid more reliable, help energy companies to ramp up their quality of customer satisfaction, and make distributed energy resources more profitable.
As a result, an increasing number of energy distribution system operators, regulated power firms, and deregulated energy companies have started using flexibility management software to exploit the vast set of economic, market, and operational benefits that the present-day decentralized energy grid offers. Grid operators and utility companies, for instance, are using flexibility management software products to gather flexible capacity from distributed energy resources and demand response to bring in more volumes of renewable energy into the grid, develop new additional services to improve the reliability of the grid, and deploy non-wire options to lower down cost required for system updates. In the next few years, the demand for flexibility management software is expected to rise at a promising pace as well.