Stem system targets energy costs with analytics and storage
By: SGN Staff
California-based Stem, an energy startup, has come up with a system of data analytics and battery energy storage to cut power costs for commercial buildings. While several companies are competing for pieces of the energy efficiency for commercial buildings sector, Stem's entry combines a well-known energy storage technology, lithium-ion batteries, with analytics software to predict power use on an hourly basis.
Based on its monitoring of electricity prices, the Stem system determines when it should store electricity or release it.
According to a story in MIT Technology Review, the market for the Stem technology is small right now but it does provide a snapshot of how distributed storage and management could change the electric grid in the future.
Brian Thompson, Stem founder and executive VP, was quoted in the story as saying "This sort of thing was not possible five or six years ago. For every given site, we will literally run millions of simulations a day." Thompson also said "As battery prices and the prices of computing and data and bandwidth drop, we're going to see these devices in every building in the world, whether it's in 20 or 30 years. These types of systems will us to move to a 100 percent renewable future."