SAN FRANCISCO, Jan. 9, 2019 /PRNewswire/ -- Following a competitive bid process, Con Edison, the energy company that serves New York City, has selected Sunverge's intelligent energy storage system and dynamic Virtual Power Plant (VPP) platform for its new Smart Home Rate project. The demonstration project is designed to test an advanced residential rate design in conjunction with battery storage technology and solar PV. The rate will have dynamic, time-varying components that closely reflect the various cost drivers of the electric supply and delivery system to determine how this rate performs in conjunction with near real-time price responsive control and automation technology.
The Sunverge integrated and dynamic platform will help customers get the most out of complex, dynamic rates that includes time-variant supply charges, a daily demand charge, and event-based coincident demand charges. The Sunverge platform will receive the hourly energy prices and demand events, and automatically manages power flows behind the meter to optimize the use of grid power, battery storage, solar self-generation, and smart appliances in the home to reduce customer energy bills and improve efficiency.
"In order to meaningfully integrate renewables into the grid, we need dynamic pricing coupled with near real-time local generation, storage, load control and response," said Sunverge CEO Martin Milani. "By getting dynamic price signals to intelligent and dynamic local control, coupled with near real-time response to the price signals, the Sunverge platform allows for creation and orchestration of flexible load shape – one the most important components for the distributed and self-balancing smart grids of the future."
About Sunverge Energy
Sunverge Energy provides the leading open, dynamic platform for Virtual Power Plants (VPP), a grid-aware and dynamic power source built from the aggregation of behind-the-meter distributed energy resources (DERs). The Sunverge VPP platform is unique in providing dynamic co-optimization of services on both sides of the meter, helping customers with intelligent management of their own renewable energy generation and utilities with greater flexibility in managing their infrastructure investments, reducing generation costs, increasing system reliability, and meeting their renewable energy goals. Together with Sunverge intelligent storage systems, the Sunverge VPP platform provides intelligent dynamic, near real-time control over decentralized energy resources that is efficient, reliable, and responsive to utilities and their customers. For more information please visit sunverge.com.
SOURCE Sunverge Energy