Risk assessment is a key part of any project, and energy storage consultants specialize in understanding the nuances of these systems. They can help businesses make the necessary decisions to keep these systems and the savings they provide optimized.

BESS (battery energy storage systems) project risk assessment consultants can help businesses predict, track, and reduce risks to energy storage systems before and after implementation.

Why Risk Assessment Matters

Battery energy storage systems contain a high number of variables, and their performance depends on how the system is designed, managed, and maintained. Before a project is implemented, developers and financiers need to be confident that:

  • Risks can be identified before they can affect performance
  • Projections are accurate
  • System behavior is predictable within small margins of error

 

No prediction is perfect, but the better the risk consultant, the more accurately these variables can be measured. Even minor underperformance can cause huge discrepancies between predictions and reality after a couple years, and the larger the scale of the BESS project, the greater these risks.

Forms of Risk

Because of how commercial solar storage works, there’s a range of risk assessments that can be applied to it, including:

  • Financial risk, assessing the accuracy of projected savings
  • Technical risk, assessing system performance, maintenance, and predicted degradation
  • Operational risk, assessing EMS controller behavior and system responsiveness
  • Regulatory risk, assessing changes in incentives, tariffs, and third-party requirements

 

Each of these categories requires a lot of data to accurately assess, and it takes specialized expertise to provide solutions.

Predicting Risks

Early on, risk consultants are useful for identifying potential dangers and integrating them into models. BESS financial consultancy for enterprises and other entities use tools like Energy Toolbase’s ETB Developer to simulate real-world performance. For example, these factors all play a part in BESS efficiency:

  • Variability in demand charges
  • Changing time-of-use rates
  • Seasonal fluctuations
  • Effects of incentive and grid programs
  • System decay over time

 

Using these tools, risk assessment consultants can run multiple complex scenarios involving these factors. This lets them input a range of potential outcomes and produce the most accurate prediction possible.

Tracking Risks

Energy storage systems live and die by monitoring. When a project contains so many variables, especially variables that shift over time, real-time data is invaluable.

Advanced monitoring systems like ETB Monitor give companies a continuous look at performance. Energy output can ebb and flow and dictate how the system should run. When operators can identify equipment issues, underperformance, and minor anomalies as they arise, system efficiency can be constantly updated.

The value of this form of risk assessment is also that it can prevent the worst of the harm. Quality monitoring means early detection, and professional risk assessment consultants help businesses prepare for risk proactively, not just try to clean up the mess when something goes wrong.

Reducing Risks

Risk assessment should identify solutions. For example, EMS controllers can misstep in a number of ways, including:

  • Miss peak demand opportunities
  • Make ineffective energy arbitrage choices
  • Inconsistently apply grid programs

 

These inefficiencies can be a challenge to optimized outcomes. Expert risk assessment consultants should be able to see if controller behavior is matching predicted goals, and know where adjustments can be made to bring them into alignment.

Assessing Risk with Confidence

BESS project risk assessment is complex and worth it. By working with experts that understand the full lifecycle of an energy storage project, businesses can reduce their risk now and in the future. No prediction is perfect, but with the professionals using quality insights, companies can reduce inaccuracies and missteps.

Energy Toolbase knows energy storage systems inside and out. We can help businesses of all sizes understand every kind of risk, how to avoid it, and how to fix it. Schedule a call with our experts today to learn about ETB Consulting!