Periodic Reporting for period 1 - Synchronverter (Smart Synchronous inverter for grid’s stability)
Reporting period: 2015-06-01 to 2015-09-30
SynchronverterTM is a system which connected to a standard inverter mimics the operation of a synchronous generator. With a growing percentage of renewable energy sources connected to the grid, this sector is claiming for the implementation of smart inverters which are able to participate in the grid stabilisation Our solution integrates with existing inverters and turns them in effect into a virtual synchronous generator device. The new smart inverter can (i) actively respond to frequency changes and stabilize the voltage and (ii) imitate the inherent mechanical inertia of synchronous generators. Our solution is highly scalable, the same solution for kW to MW inverters.
During the feasibility study we have focused in the following tasks: (i) analyse the market situation, (ii) perform a deep FTO analysis, (iii) update our business model, and (iv) define and contact key partners and end-users (promotion).
During the feasibility study we have focused in the following tasks: (i) analyse the market situation, (ii) perform a deep FTO analysis, (iii) update our business model, and (iv) define and contact key partners and end-users (promotion).
1. Market Analysis: A very detailed market analysis have been performed and the main conclusions are that our solution has a huge potential and there is a big market need. However due to the dependence of this market on the legislation we will need to follow-up the legal framework in our target markets in order to redefine our solution.
2. IPR analysis: Worldwide patent research on solutions for improving grid stability and smart inverters have shown no FTO conflict. The patent in which SynchronverterTM is based has been approved in the meantime worldwide.
3. Business plan: A strategy based in a gradual market introduction in the PV and DES sectors has been selected. A conservative initial introduction of 0.5% and 0.4% respectively has been forecast. Different scenarios have been described in order to follow up the development of the sales. A conservative sales scenario forecasts a turnover of €55 million for 2022 (the 5th year of our solution in the market).
4. Networking: as a new, small company we need to partner with some companies in order to increase the visibility of our product in the market. We have define two key partners to create a consortium with: an inverter manufacturer and an inverter supplier.
2. IPR analysis: Worldwide patent research on solutions for improving grid stability and smart inverters have shown no FTO conflict. The patent in which SynchronverterTM is based has been approved in the meantime worldwide.
3. Business plan: A strategy based in a gradual market introduction in the PV and DES sectors has been selected. A conservative initial introduction of 0.5% and 0.4% respectively has been forecast. Different scenarios have been described in order to follow up the development of the sales. A conservative sales scenario forecasts a turnover of €55 million for 2022 (the 5th year of our solution in the market).
4. Networking: as a new, small company we need to partner with some companies in order to increase the visibility of our product in the market. We have define two key partners to create a consortium with: an inverter manufacturer and an inverter supplier.
Synchronverter will be installed together with inverters (both in PV and energy storage sectors) which will benefit the grid operators by means of (i) reduction of the disconnections and (ii) avoidance of hazardous cascade effects. This represents an increased quality of service. As a consequence our solution will contribute to the deployment of RES.