Global technology company Honeywell has launched its own battery energy storage system (BESS) Platform, which includes integrated controls, monitoring and forecasting capabilities.
In addition to the Platform’s launch, Honeywell is also aiming to expand the availability of no-money-down, energy storage-as-a-service offerings to the commercial and industrial (C&I) sector through a new partnership with sustainable infrastructure solutions group Alturus.
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Perhaps best known for its activities in automation equipment, aerospace and building technologies, Honeywell has been expanding its activities and presence in the battery storage space since around 2019, when it began supplying turnkey battery storage solutions to projects in Ontario, Canada.
From delivering systems to multiple large behind-the-meter projects in the Canadian province that help large industrial electricity users peak shave and save on electricity costs, the company has launched fire detection and safety technologies through its Honeywell Building Technologies business unit, while supplying battery systems through another unit, Honeywell Process Solutions. Most recently, Energy-Storage.news reported the company’s involvement in the first grid-scale battery storage system in Ukraine which went online last month.
The new BESS Platform is aimed at large C&I users, independent power producers (IPPs) and utilities. It offers customers asset monitoring, distributed energy resource management, supervisory control and analytics capabilities to be able to forecast and optimise their energy use. Suitable applications include energy arbitrage and demand management.
Meanwhile, Alturus will provide capital and structuring for renewable and distributed energy projects that Honeywell is doing, including energy storage in both in the utility-scale and C&I market segments.
For C&I, the pair are collaborating to offer an energy storage-as-a-service model where customers save energy — and money — through reducing their use of electricity during peak demand periods, increasing their operational efficiency and reduce emissions. Honeywell will deliver turnkey energy storage solutions at low upfront capital cost to their customers on a shared savings business model.
At utility-scale, Alturus-Honeywell will offer a fully-wrapped financial and technological solution to project developers and executors; Alturus will own the assets and finance the projects, while Honeywell will provide BESS and software platforms as well as enabling smart dispatch of the batteries’ stored energy to capture revenue streams and maximise electricity cost savings.
“Battery storage is critical to achieving the decarbonisation goals that have been set by the world’s leading governments and corporations. Our work together will combine Alturus’ dedicated capital and contract structuring expertise with Honeywell’s industry-leading hardware, software and operational capabilities,” Alturus managing partner and co-founder Charles Esdaile said.
Energy-Storage.news and Honeywell present a sponsored webinar on 14 July 2021, examining the Asia-Pacific region's markets and potential for energy storage, and how Honeywell's leading technologies and long-term performance guarantees can help de-risk and monetise projects. Sign up for free to attend 'How bankable technology solutions can de-risk the Asia-Pacific region’s energy storage potential' here.