Peak Power: Maximizing Revenue from Energy Storage

Peak Power: Maximizing Revenue from Energy Storage

Derek Lim Soo, CEO, Peak PowerDerek Lim Soo, CEO
Energy Storage-as-a-Service (ESaaS) is gaining traction among facility owners as an effective way to reduce energy costs, reach sustainability goals, and increase onsite resiliency. However, challenges in the nascent industry range from the high technical expertise required for implementation to infrastructural investments as well as the perceived risks associated with any new technology. Peak Power has carved a niche in the energy storage arena by delivering a non-invasive and intelligent turnkey solution to offset the most expensive hours of electricity demand for building owners. The company brings to fore its proficiency in energy storage project management services, operations assistance, and a software solution that can bring in great savings with no up-front capital costs to the building owners. “Our in-depth understanding of the energy storage industry, combined with an AI-enabled analytics platform enables our customers to unleash the power of their distributed energy resources,” says Peak Power’s CEO, Derek Lim Soo.

Peak Power’s unique value proposition in the energy storage solutions landscape is defined by their analytics platform—SynergyTM. The solution leverages hundreds of predictors as well as data from sensors to foresee the optimal time to charge and discharge a battery within a facility. The software maximizes existing energy revenue streams and enables the clients to adapt to future market changes to gain additional revenue streams.

For customers across the northeastern US and Canada, just eight hours of peak demand each year can represent up to 75 percent of their annual energy costs. “We target the hours of peak demand with our advanced forecasting and combine that with a real-time optimizer to drive savings. The core of our services is our software platform, which is an ideal solution for today’s energy storage requirements,” affirms Lim Soo.

We target the hours of peak demand with our advanced forecasting and combine that with a real-time optimizer to drive savings

Peak Power’s approach in assisting a client includes a feasibility assessment by the expert team to identify the power requirement for the client’s location and ability to site and interconnect the battery. Before proceeding with the implementation process, Peak will collect historical energy data for the site and input it into a customized tool to visualize the customer’s existing energy usage and the impact of shifting to batteries. Clients can opt for Peak Power’s full turnkey power management solution or an ala carte offering based on their requirements.

According to Lim Soo, Peak Power’s success stems from their strong understanding of the built environment, the energy market, and software- a distinct set of skills that is difficult to have in a single team. With its unique team, Peak Power is a game changer that has proven track record in the energy sector across the northeastern United States and Canada. Recently, Peak Power announced a symbiotic partnership with BGIS, the largest facility manager in Canada. Managing over 30,000 buildings around the world, the focus is towards implementing their non-invasive solution at BGIS’ numerous client locations enabling them to save money and reduce their carbon footprint as well. Peak has also received a strategic investment from Osmington Inc, a real estate development company wholly owned by Dave Thomson, Chairman of Thomson Reuters.

Amidst a booming energy storage market, Peak Power expects to be at the epicenter of the next wave of AI-driven innovations that are set to predict the energy requirements more efficiently. “We will ensure that our software is evolving to incorporate any new and viable revenue streams and deliver the maximum financial benefits for our clients,” concludes Lim Soo.