Peak Power Inc., a technology services provider for the distributed energy resources market, announced that it has signed a new agreement to install up to 2350 kW / 4700 kWh of energy storage systems to target Ontario peak demand charges with Starlight Investments.
The installation for Starlight (located at Bloor Islington Place) is one of six sites supported by the Sustainable Development Technology Canada grant announced last year by Peak Power. Once complete, all six sites will be aggregated into a Virtual Power Plant to provide additional services to the Ontario grid.
Peak Power also has a site using a Tesla Energy Storage System at the Thomson Building in Toronto, Ontario.
“We are delighted to be one of the first commercial building owners in Canada to install behind-the-meter battery energy storage. Innovative technology such as energy storage and Peak Power’s software are providing options to building owners for better ways to manage our day-to-day energy needs,” said Perry Rose, Executive Director, Procurement and Technical Services of Starlight investments. “The process with Peak was professional and efficient, and the execution phase was seamless.”
The first phase of the Starlight project reached commercial operation earlier this year by using Lockheed Martin storage technology, thanks to engineering and construction by Spark Power, a power systems specialist. The project has the potential to generate electricity bill savings up to 25% by targeting peak demand charges such as the rising Global Adjustment charge.
Peak Power has developed a software platform, Synergy, that optimizes the operation of distributed energy assets, such as battery energy storage, electric vehicles, and solar. Through the use of Big Data and Machine Learning, the company is able to forecast moments of peak demand on the grid. When paired with energy storage, this technology can reduce customers’ electricity bills while helping utilities balance energy supply and demand, thereby improving grid resiliency.
Last year, Peak Power’s software performed successfully, hitting all five Global Adjustment peaks in real time with 100% accuracy. In addition, the Synergy platform has been expanded to include additional distributed energy resources and in-front-of-the-meter applications in numerous jurisdictions in North America.
“Peak Power is proud to partner with Starlight Investments — a recognized leader in North American multi-family and commercial real estate,” said Derek Lim Soo, CEO Peak Power. “Peak demand is rising five times faster in the urban centers then in the rural areas. This project will provide a much needed resource to the Ontario grid infrastructure.”