Nanyang Technological University, Singapore (NTU Singapore) and Trinasolar, a photovoltaic (PV) and energy storage solutions provider, have decided to develop energy storage systems (ESS) to enhance efficiency in renewable energy applications.
The program will be led by the Energy Research Institute @ NTU (ERI@N) to develop AI-driven tools that can improve investment decisions, enhance system stability through intelligent energy forecasting, and deploy smart optimisation algorithms for energy storage applications.
Focus areas
Smart Investment Decision-making
Conventional energy storage investments face uncertainties due to market volatility and evolving regulations.
NTU and Trinasolar will develop a techno-economic modelling tool that integrates meteorological data, market regulations, and electricity price trends to generate optimal storage configurations. This tool will provide investors with clear economic metrics, such as return on investment (ROI) and payback periods, enabling better financial planning and risk mitigation.
Ensuring System Stability with AI-Powered Forecasting
Renewable energy output is intermittent, making energy management challenging. The team will develop machine learning-driven forecasting models that predict solar and wind energy generation, local electricity demand, and market price fluctuations. These data-driven insights will enable energy storage systems to autonomously adjust charge and discharge cycles, ensuring a stable supply-demand balance while maximising cost savings.
Smart Optimization Algorithms
Energy storage systems must operate efficiently across different applications, from large-scale battery farms to commercial and industrial (C&I) energy storage. The partnership will develop intelligent energy management algorithms to enhance performance in areas such as energy arbitrage, peak shaving, and ancillary services. These self-learning algorithms will enable energy storage systems to adapt in real-time, improving asset utilisation and profitability.
NTU Vice President (Industry) Professor Lam Khin Yong, Helena Li, Executive President, Trinasolar, Executive Director of ERI@N Professor Madhavi Srinivasan
NTU Associate Professor Xu Yan, Cluster Director of Smart Grids and Microgrids at ERI@N, and Director, Centre for Power Engineering at the School of Electrical and Electronic Engineering, will lead the project.