This integration will facilitate increased energy storage deployments by streamlining the project development process
Energy Toolbase now includes Stem, Inc., the world leader in Artificial Intelligence (AI)-driven energy storage services. This addition gives project developers who use Energy Toolbase the opportunity to design and deploy solar + storage solutions based on Stem's industry-leading energy storage controls. With this integration, distributed energy providers can simulate project performance, analyze financial returns, and develop sales proposals informed by Stem's Athena AI platform and rich operating experience.
Stem's AI platform, Athena, is the first of its kind for energy storage, performing real-time energy optimization that reduces energy costs and enables customers to access additional market opportunities via Stem's network. Stem has approximately 1,000 energy storage systems under contract across six U.S. states, Ontario, and Japan. Since 2012, Stem has captured data from its systems on a one-second basis to feed Stem's predictive analytics, machine-learning, and grid-edge computing AI. Stem partners with the strongest names among solar providers across the U.S. to unlock new value from solar projects for their customers, backed by performance guarantees.
The Energy Toolbase software platform specializes in the sales and analysis of solar and energy storage projects. Over 1,000 distributed energy companies nationwide use the application during the sales and development stage of their projects. Precisely calculating the savings and economics of behind-the-meter storage projects is highly technical. Energy Toolbase simplifies the complexity of modeling a customer's unique energy use profile, utility rate schedule, net energy metering rules and incentive programs. This enables users to more efficiently qualify their projects, optimize the system size, and create compelling customer facing sales proposal.
"We are thrilled to engage Stem's long experience operating storage across multiple U.S. markets and AI acumen in our financial modeling capabilities," said John Gurski, founder and CEO of Energy Toolbase. "Our users now have the ability to run Stem-validated savings simulations and work with one of the most experienced and reputable storage software operations company in the world."
The U.S. energy storage market is forecasted to grow rapidly over the coming years. According to Wood Mackenzie Power & Renewables' U.S. Energy Storage Monitor, total energy storage deployments will grow from 311 megawatts (MWs) in 2018 to 4,447 MW in 2024, more than doubling each year. To do so, storage developers will need to be highly-efficient in their project development activities, which this integration will enable.
"Solar project developers that are seeking to add storage need real-world performance simulation and market economic expertise, backed by long experience across a range of markets, to accurately estimate their customers' potential returns," said Alan Russo, Stem's Chief Revenue Officer. "Stem works to unlock new value from solar + storage by enhancing project economics, future-proofing against changing rates, and expanding sales opportunities. Moreover, these assets have the opportunity to participate in wholesale markets and utility programs, all orchestrated by our AI-driven software."
Energy Toolbase and Stem will co-host training opportunities to overview the functionality of their new integration. Register here to attend.
About Energy Toolbase
Energy Toolbase (ETB) is an industry leading software platform for modeling and proposing the economics of solar PV and energy storage projects. Over one thousand leading renewable energy developers worldwide utilize their software to accurately, objectively and transparently analyze their projects and create customer facing proposals. To learn more or request a free trial, visit: www.energytoolbase.com
About Stem, Inc.
Stem creates innovative technology services that transform the way energy is distributed and consumed. Athena™ by Stem is the first AI for energy storage and virtual power plants. It optimizes the timing of energy use and facilitates consumers' participation in energy markets, yielding economic and societal benefits while decarbonizing the grid. The company's mission is to build and operate the smartest and largest digitally-connected energy storage network for our customers. Headquartered in Millbrae, California, Stem is directly funded by a consortium of leading investors including Activate Capital, Angeleno Group, BNP Paribas, Constellation Technology Ventures, Iberdrola (Inversiones Financieras Perseo), GE Ventures, Magnesium Capital, Mithril Capital Management, Mitsui & Co. LTD., Ontario Teachers' Pension Plan, RWE Supply & Trading, Temasek, and Total Energy Ventures. Visit: www.stem.com for more information.