NEW SERVICE SPOTLIGHT: Energy Optimization
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.