Manhattan’s first battery-based, intelligent energy storage system was unveiled by Glenwood Management in New York City recently.
The system will “provide 225 kilowatts (kW) of power with 2 megawatt hours (MWh) of stored energy capacity to a New York City high rise. The Joule.System designed by Demand Energy Networks, Inc. is located at Glenwood’s flagship property, Barclay Tower, a 58-story luxury residential high rise located at 10 Barclay Street near the new World Trade Center, New York.”
The installation of this new system is relevant because it could greatly alter the way electricity is delivered, potentially bringing “a new design architecture for city electrical grids, allowing them to become smarter, more adaptable, and operate more efficiently.”
‘Intelligent energy storage’ is a newly emerging technology that allows electricity end-users to coordinate with the grid, allowing increased energy reliability and “managing cost volatility in New York’s incentive electricity rate structures (the day ahead market),” a news release on the innovation notes.
“The system stores energy during off-peak periods when rates are low, and then releases the energy during peak periods when prices can be very high. It works as a physical hedge against volatility risk during periods of high demand, effectively capping costs by using energy from storage at times when rates have the potential to skyrocket.”
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