The REX™ Market Decision Engine (MDE) is a cutting-edge operational decision-making system that integrates Energy Management System (EMS) functions with advanced control algorithms and artificial intelligence (AI). Acelerex software automates market decision processes, leveraging AI-driven predictions for optimized dispatch and resource allocation. Designed to optimize site control and performance, the REX™ MDE utilizes REX™ Data Services and REX™ AI to automatically generate dispatch signals, ensuring smooth and efficient operations. The Market Decision Engine (MDE) is highly versatile, offering multiple stacked services that can operate individually or in tandem, providing comprehensive control and optimization capabilities.
Key components of the REX™ MDE include:
- Generation of bidding schedules
- Real-time schedules & dispatches
- AI Price Predictions
- Power Stacking
- Capacity Stacking
- VAR Stacking
- REX™ MDE Front-end
- REX™ EMS/SCADA
- REX™ Control Algorithms
- Digital Twin
- REX™ Data Services
- Reports
- Reports page provides valuable insights into the performance of the project assets.
- These reports enable users to analyze the historical data and make informed decisions for optimizing the system.
Sample Use Case: Optimizing a Hybrid Energy System with REX™ Market Decision Engine
Scenario: A utility company operates a hybrid energy system consisting of solar, wind, and battery storage assets. The company seeks to optimize the performance of these assets to maximize profitability while ensuring grid stability and compliance with market regulations.
Solution Implementation:
- Power Stacking is used to aggregate the power generated from solar and wind sources. The MDE optimizes the combined output to ensure that the most cost-effective power source is prioritized, reducing operational costs and maximizing revenue.
- Capacity Stacking manages the capacity of the battery storage system. The MDE optimizes the charging and discharging of the batteries based on market prices, grid demands, and renewable generation forecasts, ensuring that the storage assets are used most efficiently.
- VAR Stacking controls reactive power across the network to maintain optimal voltage levels. This is critical in ensuring that the power generated and dispatched does not cause voltage instability, particularly in regions with high renewable penetration.
- The REX™ MDE Front-end provides operators with a user-friendly interface to monitor the system’s performance in real-time, adjust settings, and access detailed analytics.
- AI Predictions are utilized to forecast market conditions, such as energy prices and demand, as well as weather patterns that affect renewable generation. This predictive capability allows the MDE to make proactive adjustments to optimize energy dispatch and storage strategies.
- REX™ Control Algorithms govern the operation of the MDE, ensuring that all decisions are optimized for the current market and grid conditions. These algorithms take into account a wide range of variables, including market prices, grid frequency, and asset health.
- The REX™ EMS/SCADA integration ensures that all control commands are executed in real-time, with data from the field fed back into the MDE for continuous optimization.
- Cloud and Local HMI provides flexible access to the MDE, allowing operators to monitor and control the system from any location, whether on-site or remotely.
- EMS Controls within the MDE allow operators to make precise adjustments to the energy management functions, such as modifying dispatch schedules or adjusting setpoints for storage assets.
- Digital Twin technology creates a virtual model of the hybrid energy system, allowing operators to simulate different scenarios and analyze the potential impacts of various strategies before implementing them in the real world.
- REX™ Data Services underpins the entire system, ensuring that all relevant data—from market signals to operational metrics—is available for analysis and decision-making.
- Reports generated by the MDE provide comprehensive insights into the performance of the hybrid energy system. These reports include metrics such as energy output, storage utilization, revenue generated, and system efficiency. Operators can use this information to identify areas for improvement and refine their operational strategies.
By leveraging the REX™ Market Decision Engine, the utility company can optimize the performance of its hybrid energy system, ensuring that it meets market demands, maximizes revenue, and maintains grid stability while complying with all regulatory requirements.
Transform your market operations with Acelerex’s Market Decision Engine. Contact us today to see how our intelligent solutions can drive your success.