SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

CHANNEL BY TOPICS


QUICK LINKS




Greensmith Rides Crest of Demand in Energy Storage Sector
Green Technology Featured Articles
June 12, 2013

Greensmith Rides Crest of Demand in Energy Storage Sector

By Cheryl Kaften
TMCnet Contributor

The London-based research firm Visiongain (News - Alert) predicts that the value of the global grid-scale battery storage market will reach $1.17 billion this year. And that’s just the beginning. The rising demand for electricity worldwide is creating a booming market for energy storage systems to provide backup power—from distributed, but intermittent energy sources such as solar and wind generation; as well as for times of high demand and emergency outages.


One of the beneficiaries of this growing market is Rockville, Md.-based Greensmith Energy Management Systems. Founded in 2008, the firm recently announced that it has installed and contracted more than a cumulative 9 megawatt hours (MWh) of energy storage capacity for customers in North America and Australia.

Greensmith, which describes its technology as modular and "battery agnostic"—facilitating the developing of home-size and utility-size systems using multiple battery options— has been riding the swell of battery oversupply from Lithium Ion (Li-ion)  battery manufacturers in the wake of weak demand from the electric vehicle (EV) sector. Greensmith combines battery cells with third-party inverters and its proprietary control system—comprising a high-powered central processing unit (CPU) in each battery unit connected to server-based software.

The control software is Greensmith's core intellectual property—providing units with the intelligent dispatch algorithms to optimize a customer's utility bill, or fill in gaps of intermittent renewable energy generation.

Greensmith CEO John Jung commented, "Greensmith provides customization with the cost-structure of a standardized product. Our battery-agnosticism enables customers to use whichever batteries are best for their application, and our sophisticated software system leverages local data to tailor energy storage dispatch; both on-site and across a fleet of devices."

Upcoming projects include several community energy storage-size systems of 100 kilowatt (kW) / 200 kilowatt hours (kWh) for distribution-level interconnection, and two megawatt (MW)-scale projects in California. The latter megawatt-scale projects represent a 10-fold increase in power capacity, compared to the company’s installations just two years ago, and a four-fold increase in the energy capacity installed by the company in 2012.

To date, Greensmith has managed to keep a lean staff of just 10 full-time employees by leveraging contract labor at critical junctures and using a highly scalable business model focused on software and systems integration. However, the company anticipates significant growth over the next 24 months as project sizes continue to increase and the energy storage markets continue to expand in response to higher renewable penetration and favorable market regulations.




Edited by Alisen Downey


Green Technology Related Articles






Technology Marketing Corporation

2 Trap Falls Road Suite 106, Shelton, CT 06484 USA
Ph: +1-203-852-6800, 800-243-6002

General comments: [email protected].
Comments about this site: [email protected].

STAY CURRENT YOUR WAY

© 2024 Technology Marketing Corporation. All rights reserved | Privacy Policy