“Codibly has been a vital partner in our development and I have been impressed with their professionalism, flexibility and understanding of our key needs.”
YOAV ZINGHER – CEO & CO-FOUNDER
The future of smart grid success lies in the clever and commercial use of battery storage. As technology has evolved and prices of batteries decrease, this presents a real opportunity. The development of battery storage is now a critical component in securing the stability of the electricity grid system. Batteries are ideally suited for multiple uses including peak load shifting, providing backup or reserve capacity to support renewables, energy trading, grid constraint management, and frequency response.
Key players in the project include UK Power Networks, National Grid, Newcastle University, Samsung and Imperial College. The 6MW/10MWh Samsung battery in Leighton Buzzard is the size of three tennis courts and can store enough energy to power about 6,000 homes for 1.5 hours, at peak times. We were developing a technology for KiWi Power to help monetize battery usage and generate payback from this significant investment by managing its participation in different ancillary service programmes.
The principal benefit of STOR (Short Term Operating Reserve) participation is the additional income you can earn for your business. KiWi Clients were paid a £/MWh fee every time they made their load available, as well as an extra utilization fee (£/MWh) if they were called on to load manage. The potential earnings are significant and could be up to £20,000 per MW per year. For participation in the STOR events, customers were receiving money from the UK NATIONAL GRID.