By Vic Shao
Power industry regulators around the world are increasingly coming to realize the multiple benefits of intelligent energy storage solutions. As Navigant highlights in the Q1 2015 edition of its Energy Storage Tracker, new regulatory mandates in the U.S., Europe and across the Asia-Pacific were key factors that made 2014 “a major year for the global energy storage industry.”
Demand for both utility-side and customer-sited, “behind the meter” energy storage systems is on the rise. Falling manufacturing costs, improved performance and utilities' drive to reduce greenhouse gas emissions, while at the same time enhancing the resilience and efficiency of power grids, is adding to the momentum.
The introduction of innovative financing models -- such as Green Charge Networks' Power Efficiency Agreements (PEAs), a system of shared savings on energy bills with end users – are opening up opportunities for commercial and industrial companies, as well as schools and municipalities, to reduce peak power demand, boost energy efficiency and build renewable energy-fueled microgrids.
“Distributed and behind-the-meter energy storage solutions have been making a significant impact on the global market over the past year due to their flexibility and innovative financing models.”
New regulatory mandates in the U.S., such as those set out in California's landmark AB 2514, highlight the lower emissions and infrastructure costs, as well as greater efficiency, flexibility and affordability, of today's intelligent energy storage solutions.
SCE's local energy storage procurement contracts included distributed, “behind the meter” systems installed on customer sites, the nascent market segment that Green Charge Networks focuses on.
A confluence of factors – state government incentives along with rising utility peak-power demand charges and the ongoing drought – is sparking strong interest in energy storage solutions on the part of leading California businesses, schools and municipalities. Green Charge Networks' GreenStation intelligent energy storage solution, for example, is being used by a growing number of businesses, from national retail chains and health care providers to California schools and municipalities.
In late February, Green Charge Networks announced that Mountain View-Los Altos Union High School District (Santa Clara County), Oak Park Unified School District (Ventura County), Butte Community College (Butte County), Peralta Community College District (Alameda County), and California State University Fullerton (Orange County) have contracted the company to install over 1,500 kilowatt-hours of intelligent energy storage capacity.
By installing our GreenStation solution, California schools will realize energy savings on their monthly energy bills. The GreenStation installations will reduce peak demand charges incurred from electric vehicle charging stations, enhance grid stability and resiliency, and lower utilities' need to contract for additional generation capacity and build additional distribution infrastructure. The money they save on their monthly electricity bills can be put into their primary mission: educating California's youth and adult population. That's a win socially and environmentally, as well as financially.
Image credit: Green Charge Networks
Vic is Chief Executive Officer and founder of Green Charge Networks, an intelligent energy storage company based in Silicon Valley. Since 2009, Vic led the company through its US $12 million smart grid project with Con Edison of New York, the US Department of Energy and Fortune 500 companies on a ROI-driven energy storage GreenStation with software intelligence to empower commercial and industrial customers to save on their energy bills. With more than 15 years experience in software development and complex system implementation, Vic is passionate in applying software to improve power efficiency.