ConEdison Solutions and Viridity Energy, Inc. recently announced their joint introduction of a new energy demand response service. The service, “Energy Optimization,” a first-to-market, automated, revenue generating, energy management offering.
An enhancement to traditional demand response jointly marketed by ConEdison Solutions and Viridity Energy, this latest offering allows energy users to effectively transform themselves into energy suppliers (virtual power plant) when market conditions present the opportunity.
Customers have the ability to generate revenue year round by taking advantage of changes in energy market prices. Specifically, when prices rise, energy users will be able to reduce consumption, and benefit from ConEdison Solutions’ and Viridity Energy’s ability to sell the energy curtailment back into the market.
In essence, the customer becomes an energy supplier, deriving revenues from its ability to limit energy usage automatically enabled by the ConEdison Solutions/Viridity Energy team. The marginal reductions in energy use are managed in a way that minimizes impact on customer convenience and comfort.
To implement “Energy Optimization,” ConEdison Solutions and Viridity Energy integrate intelligent software with the facility’s building management system and other control devices. They then control the facility’s energy consuming equipment, based on protocols previously agreed to by the customer, when a demand response event occurs or when economic market opportunities present themselves. Customers incur no up-front cost for the installation of the technology.
This capability reduces customer involvement, while enhancing performance. The vendors notify customers when modifications will take place and give customers the opportunity to override the signals, if they so choose.
Currently, the Energy Optimization services will be provided in the states and utilities territories served by the following ISO’s: New England (NEISO), Pennsylvania New Jersey Maryland RTO (PJM), ERCOT in Texas, and New York (NYISO). ConEdison Solutions will sell the offering in conjunction with its commodity sales operations as a value-added benefit for existing customers and as a way to gain new customers.
You might like:
- Four Types Of Concrete Damage And How To Address Them
- Rise Of IoT Prompts Facility Professionals To Invest In Analytics
- 4 Ways To Avoid LED Lighting Failure
- Facility Management Critical To Infection Control
- Question Of The Week: What Best Practice Boosts Your Bottom Line?
- Friday Funny: The Dirty Truth About Public Bathrooms
- New Vikings Football Stadium First In U.S. With Transparent Roof
- Best Practices For Data Center Management
- Look, Listen, And Learn To Find Leaks
- FM Alert: OSHA Offering $4.6M In Safety And Health Training Grants
- Applying Lean Principles To Facility Cleaning Programs
- Energy Upgrades And Renovations: What To Know About Windows
- Technology, Aging Facilities Impacting Education Facility Budgets
- U.S. Employers Suffer Largest Talent Shortage In Skilled Trades
- Preventive Maintenance, Proactive Facility Management