Packetized Energy and a group of research partners led by NREL were selected to receive over $3 million in funding from the Department of Energy’s ARPA-E Performance-based Energy Resource Feedback, Optimization and Risk Management (PERFORM) Program.
The project proposes a novel paradigm for the management of delivery risk in the electric sector. The paradigm quantifies and manages risks using risk scores (similar to consumer credit scores) at the distribution system and an auction for physical flexible supply to hedge delivery risks at the transmission system.
Packetized Energy will work closely with NREL, EPRI, and John Hopkins University to leverage the project’s developed risk scores and adapt them for use in our software modules, LoadShaper and FastTracker, to improve bidding strategies for grid edge flexibility in wholesale markets and on behalf of utilities.
Read more about this project.
(image courtesy of DOE)