Nuvve Corporation Announces Participation in California's Wholesale Energy Markets to Help Balance the Grid
Vehicle-to-grid (V2G) technology leader provides critical demand response services during California heat waves
SAN DIEGO, Sept. 17, 2020 /PRNewswire/ -- Nuvve Corporation, a San Diego-based, green energy technology company and the global leader in vehicle-to-grid (V2G) technology, is announcing participation in a program to deliver resource adequacy to local utility San Diego Gas & Electric (SDG&E) and California's electrical grid using a large stationary battery located on the University of California San Diego's (UC San Diego's) campus microgrid. Nuvve began using the microgrid's 5 MWh lithium-ion battery, which historically focused on the management of campus energy peaks, to bid into wholesale energy markets in June 2020.
During the August 2020 heat wave, where day-ahead energy prices spiked above $1,000 per megawatt-hour (MWh) and rotating blackouts were ordered across the state, Nuvve worked with UC San Diego research and utility department staff to support the California grid by reducing electricity demand through multiple, strategic actions, including the discharge of the lithium battery during critical peak load periods, reduction of V2G electric vehicle loads, injection of energy into the campus grid, and increased self-generation coordinated by campus utility staff at the university's cogeneration power plant. Leveraging these diverse assets located within the UC San Diego microgrid to reduce demand for electricity provides an important example as California explores the use of microgrids and distributed resources like batteries, solar power, and electric vehicles to assist with keeping the lights on in the face of increasing instances of wildfires and heat waves.
The UC San Diego 47 MW-peak microgrid includes a variety of generation and storage resources used to meet campus electricity demands, which includes loads such as a supercomputing center, research laboratories, and a hospital. Due to the microgrid's size and diversity of resources, enrollment in wholesale energy markets required significant collaboration with key stakeholders to confirm a path for market participation. Nuvve partnered with Leap as a demand response provider and CAISO-certified scheduling coordinator to lead the market access process, and to coordinate with the California Public Utility Commission (CPUC) and SDG&E. Leap operates a leading marketplace for grid flexibility focused on Distributed Energy Resources. The work to enable this market access and grid support during the heatwave was made possible by the Nuvve-led INVENT project, funded by an EPIC grant from the California Energy Commission (CEC).
Nuvve plans to expand its footprint in California energy markets by leveraging V2G technology deployed via electric school buses and light-duty vehicles. The large batteries from each school bus, ranging from 125kWh to 250kWh, may be aggregated at each site to provide the grid with much needed flexibility, and in the future, can also serve as emergency back-up. Nuvve's experience working in energy markets worldwide, including V2G battery installations in Japan, Europe, Africa and the U.S., provides a strong foundation to unlock grid revenue earning potential and provide electric grids around the world with much needed stabilization services during times of stress.
About Nuvve Corporation
Nuvve Corporation is a San Diego-based green energy technology company whose mission is to lower the cost of electric vehicle ownership while supporting the integration of renewable energy sources, including solar and wind. Our proprietary vehicle-to-grid (V2G) technology – Nuvve's Grid Integrated Vehicle (GIVe™) platform – is refueling the next generation of electric vehicle fleets through cutting-edge, bidirectional charging solutions. Since our founding in 2010, Nuvve has been responsible for successful V2G projects on five continents and is deploying commercial services worldwide. For more information please visit www.nuvve.com or follow us on LinkedIn and Twitter.
Nuvve Press Contact
Marc Trahand, EVP Marketing
[email protected]
SOURCE Nuvve Corporation
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