Cision PR Newswire
BOULDER, Colo., Jan. 9, 2019 /PRNewswire/ -- Today HOMER Energy is releasing important updates to its HOMER Grid software, designed to model distributed energy systems that will cut energy costs for commercial and industrial customers. HOMER Energy's powerful tool for simulating grid-tied solar-plus-storage and other hybrid renewable energy projects now has more powerful ways to estimate the costs of improving reliability and resilience.
HOMER Grid can accurately model the economic consequences of grid outages and help users estimate how the timing of random power failures might affect the energy economics of commercial and industrial facilities.
The need for improved electric reliability is one of the key factors driving new commercial investments in distributed energy. Power outages are increasing in the US, due to an aging electric grid and more frequent extreme weather events. They are also costing companies more on an hourly basis according to a 2018 report by the S&C Electric Company.1 The report says that in 2017, 58% of manufacturing facilities reported an outage of an hour or more, and 18% reported losses of over $100,000 for their worst event. Data center outages - for example - can cost companies up to $9,000 per minute.