Unlocking DER energy data with standards
Hudson Hollister, Founder and CEO of HData, sheds light on how structured data could be used to optimise the landscape of Distributed Energy Resources (DERs) in a recent article.DERs are small, smart energy generation and storage technologies such as smart appliances and solar panels. As energy aims to become greener, they can play an increasingly important role as diverse energy sources and stores in the grid.
Hollister highlights the benefits derived from data transparency and standardisation achieved through the Federal Energy Regulatory Commission (FERC)’s adoption of XBRL. FERC’s adoption of XBRL has demonstrated the transformative power of machine-readable data in energy. The industry now enjoys enhanced ability to analyse utilities’ financial performance and automatically draw comparisons.
Hollister argues for similar data improvements to facilitate the adoption of DERs. Despite their potential, regulators are struggling to keep pace with the rapid growth of DER units among customers due to a lack of comprehensive data.
FERC’s XBRL mandate provides the blueprint for unlocking the value of DER data. Well-managed, machine-readable data in this realm would offer benefits to regulators, states, and utility companies alike. Better data would reveal the impact of emerging technologies, facilitating informed decisions on long-term investments and growth – with the eventual goal of a greener, more resilient grid.
To find out more, read Hollister’s article here. We might be a little biased but we think it’s compelling, and well worth looking at across the world.
