Small Commercial Facilities in Texas Reap Untapped Demand Response Rewards with New Ally, Joule Assets
Joule enters Texas ERCOT market, targeting commercial facilities under 100 kW and the contractors that serve them
BEDFORD HILLS, N.Y., June 30, 2015 /PRNewswire/ -- Joule Assets Inc., the leading provider of microcapital solutions for the energy efficiency and demand response industries, today announced it has entered the deregulated energy market in Texas as a registered demand response provider. Triggered by recent legislation in Texas, Joule will now act as the qualified scheduling entity for a variety of small-to-midsized commercial sites across Texas to register those facilities in demand response programs, beginning June 1.
To date, the state's energy markets for demand response have been underutilized and are opportune for potential savings. According to a recent analysis by the South-Central Partnership for Energy Efficiency as a Resource (SPEER), Texans would have saved over $200 million in electricity costs had more demand response been allowed to participate in the market on five days in 2012-13. Additionally, due to the heavy energy requirements of large commercial facilities, demand response in Texas has catered almost exclusively to large sites, often supported by the biggest names in DR, including EnerNoc, Comverge and Constellation. Unfortunately, demand response programs for small-to-midsized sites were non-existent, with large-scale providers considering them too time-consuming and lacking the level of financial returns that would incentivize them. Now, Joule Assets is offering sized-to-fit demand response programs for largely ignored commercial sites and a new source of revenue for contractors. By working with its growing Texas-based portfolio of contractors, Joule is enabling a win-win for smaller facilities and contractor firms alike.
"The challenge and opportunity that exists today in Texas is indicative of what we're seeing in every state and every country right now," said Mike Gordon, CEO and co-founder of Joule Assets. "Overlooked due to an industry-wide lack of lucrative programs, small and medium-sized companies and sites are now poised to benefit from energy efficiency and demand response programs moving to wide-scale energy efficiency implementation," said Mike Gordon, CEO and Co-founder of Joule Assets. "
About Joule Assets
Joule Assets delivers financing solutions for energy efficiency and demand response initiatives and projects. Through its first-in-kind Joule Energy Reduction Asset (ERA) Fund, a global private equity fund initially targeting $100M, Joule provides previously unavailable, upfront financing to energy efficiency vendors and cycles returns from monetized energy savings and vendor revenues back to Fund investors. Joule Assets leverages its proprietary database, market analysis software, and extensive industry expertise to deliver a secure financing option for vendors and untapped revenue streams for investors. You can learn more about Joule Assets and the ERA Fund at: http://www.jouleassets.com/ or apply for a consultation here. You can also follow us on Twitter @JouleAssets.
Joule Assets Media Contact:
Caroline Venza
MissionCTRL for Joule Assets
415-601-9645
Email
SOURCE Joule Assets Inc.
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