Demand response

Acorn’s 2023 EPS Improves to $0.05 vs. ($0.25) Loss Per Share on 15% Revenue Increase; Anticipates Continued Revenue and Earnings Growth in 2024

Retrieved on:

Thursday, March 7, 2024

Research, Demand response, ERCOT, Growth, C&I, OV2, Depreciation, Software

Leveraging growth in both monitoring and hardware revenue we advanced our full year gross margin to 74.5% in 2023 vs. 72.4% in 2022.

Key Points:

Leveraging growth in both monitoring and hardware revenue we advanced our full year gross margin to 74.5% in 2023 vs. 72.4% in 2022.
Our 2023 performance was achieved despite $102,000 of one-time expenses (approximately $0.04 per share) for our 1-for-16 reverse stock-split successfully completed in Q3.
“We made encouraging progress during 2023 and the beginning of 2024 in bringing Demand Response (DR) programs to market.
Acorn generated $72,000 of cash from operating activities and used $78,000 for hardware, software and other capital investments in fiscal year 2023.

Commonwealth of Virginia Selects Voltus as its Demand Response Provider

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Wednesday, February 21, 2024

Storm, DER, SAN, Distributed generation, Demand response, Commonwealth, Airport, Plant, University, Carbon, Communication, PJM, Electricity, Recycling, Renewable energy

Voltus was selected by Virginia Energy to help participating Commonwealth facilities earn revenue and generate savings by reducing electricity use in response to grid signals, such as high demand, inadequate supply, high prices and high emissions.

Key Points:

Voltus was selected by Virginia Energy to help participating Commonwealth facilities earn revenue and generate savings by reducing electricity use in response to grid signals, such as high demand, inadequate supply, high prices and high emissions.
The Voltus platform will enhance performance during dispatches, track demand response earnings and avoided carbon emissions, and identify new energy efficiency and demand response opportunities, thus creating an increased financial opportunity for Commonwealth facilities.
“Most of our existing customers, like the Commonwealth, participated in PJM demand response programs for years prior to partnering with Voltus.
Voltus is deeply committed to delivering more demand response value to our customers, in some cases tripling demand response value compared to previous providers.

Global Virtual Power Plant Market Forecast Report 2024-2029: Pressing Need to Mitigate Impact of Intermittent Renewable Sources on Stability and Reliability of Power Grids

Retrieved on:

Wednesday, February 28, 2024

Region, USD, Demand response, Renewable energy, Growth, Commercial, VPP, Virtual, Economic methodology

The rise in the demand for decarbonization of power distribution systems, and need to mitigate impact of intermittent renewable sources is driving the market.

Key Points:

The rise in the demand for decarbonization of power distribution systems, and need to mitigate impact of intermittent renewable sources is driving the market.
Mixed Asset: The second largest segment of the virtual power plant market, by technology
Based on technology, the virtual power plant market has been split into three types: Demand Response, Supply Side, and Mixed Asset.
The report defines, describes, and forecasts the global Virtual power plant market, by type, by component, by voltage, by services, end user and region.
These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the virtual power plant market.

Nostromo Energy's IceBrick® Energy Storage Systems Awarded First Resource Adequacy Credits by the California Public Utilities Commission

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Tuesday, September 19, 2023

VPP, RA, Public utility, Built environment, CPUC, Carbon, Waldorf Astoria New York, Demand response, Nostromo Yarará, California Public Utilities Commission, TASE, Nostromo, Public utilities commission, C&I, Renewable energy, The Beverly Hilton

IRVINE, Calif., Sept. 19, 2023 /PRNewswire/ -- Nostromo Energy, Inc. (TASE: NOST), provider of the IceBrick® system, a virtual power plant (VPP)-enabled distributed thermal energy storage solution for commercial and industrial (C&I) buildings, announced today that the California Public Utilities Commission (CPUC) awarded Nostromo's IceBrick energy storage systems Resource Adequacy (RA) eligible Qualified Capacity for 2024 as Demand Response (DR) resources.

Key Points:

Utilities and community choice aggregators (CCAs) in California must procure qualified capacity to meet their resources adequacy obligations, set by the CPUC, but resources are slow to come online due to long interconnection queues, which average above 4 years in California.
The IceBrick systems, as dispatchable, supply-side, behind-the-meter thermal energy storage technology, are not subject to these queues and can be online within 6-9 months from contracting with the site owner.
"We look forward to partnering with utilities and CCAs on deploying IceBrick systems in their service area to provide local RA while helping their customers reduce their energy costs and carbon emissions."
The systems will operate as an automated VPP via remote management and are capable of dispatching energy to lower demands according to grid signals.

OhmConnect Collaborates with LG on Grid-Responsive Room Air Conditioners

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Tuesday, September 12, 2023

Carrier, TP-Link, HVAC, SunPower, Google Nest, LG, Ecosystem, Electronics, LG Electronics, Demand response, Carbon footprint, Heating, ventilation, and air conditioning, Renewable energy, Sensi

OAKLAND, Calif., Sept. 12, 2023 /PRNewswire/ -- OhmConnect, the leading residential energy management company, today announced the integration into the LG ThinQ App from smart home leader LG Electronics.

Key Points:

OAKLAND, Calif., Sept. 12, 2023 /PRNewswire/ -- OhmConnect , the leading residential energy management company, today announced the integration into the LG ThinQ App from smart home leader LG Electronics.
U.S. consumers with LG room air conditioners can now access OhmConnect's Demand Response program using the LG ThinQ App.
The gamified energy engagement experience allows consumers to earn rewards for automatically managing use of their LG air conditioners during periods of peak grid demand.
The LG ThinQ App allows remote temperature control for LG room air conditioners to reduce energy consumption when the electrical grid is stressed.

OhmConnect Awarded Prestigious Partnership in California Energy Commission's Demand Side Grid Support Program

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Tuesday, August 22, 2023

SunPower, VPP, State, California Energy Commission, Wildfire, Electricity, Stabilizer, Demand response, DSGS, Climate change, Risk, Kilowatt-hour, Weather, Increment, CEC, Electric battery, Renewable energy

OAKLAND, Calif., Aug. 22, 2023 /PRNewswire/ -- OhmConnect, the leading residential energy management company, today announced its acceptance as the only provider in two pilot programs with the California Energy Commission's (CEC) new Demand Side Grid Support (DSGS) Program. As part of a suite of programs to alleviate tight energy supplies on the grid caused by heat waves, wildfires, and other ongoing impacts of climate change, the DSGS program will offer incentives to electric customers that provide load reduction and backup generation to support the state's electrical grid during extreme events, reducing the risk of blackouts.

Key Points:

Only Provider to Engage in Demand Response Capacity and Battery Storage Pilots; Stabilizes Grid and Prevent Blackouts
OAKLAND, Calif., Aug. 22, 2023 /PRNewswire/ -- OhmConnect , the leading residential energy management company, today announced its acceptance as the only provider in two pilot programs with the California Energy Commission's (CEC) new Demand Side Grid Support (DSGS) Program .
OhmConnect will participate in the DSGS' Incremental Market-Integrated Demand Response Capacity Pilot as a residential aggregator providing flexible demand when the grid is most stressed.
The program provides incentives to customers who reduce their energy consumption at peak times and especially during extreme weather events.
Energy savers collectively earned $1.3 million from OhmConnect for their efforts and also helped prevent six additional days of blackouts during the heatwave.

Acorn Achieves Net Income and Positive Cash Flow as Q2 Revenue Rises 22% from Remote Monitoring and Control Solutions for Backup Generators and Gas Pipelines

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Thursday, August 10, 2023

COGS, GAAP, Research, Demand response, C&I, Investment, Depreciation, Growth, R, News, Afşin-Elbistan C power station, Acorn Energy, Bank, Mobile phone, Video game, Life insurance, Acorn

“We achieved our second consecutive quarter of monitoring revenue growth, following the end of the revenue impact from the sunsetting of wireless carrier support for 3G monitoring technology.

Key Points:

“We achieved our second consecutive quarter of monitoring revenue growth, following the end of the revenue impact from the sunsetting of wireless carrier support for 3G monitoring technology.
Building upon 3% growth in Q1, monitoring revenues grew 10% in Q2 and we expect positive momentum to continue over the balance of 2023 and beyond.
Our backlog is essentially deferred revenue, more than 60% of which will be recognized as revenue within one year under GAAP accounting.
Cash generated from operating activities was attributable to the company’s net income plus non-cash expenses, including depreciation and non-cash lease expense.

The Heat Is On, Again; PG&E Prepared To Help Keep Customers Cool

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Friday, July 21, 2023

California Department, Electricity, The Electric Company, Policy, Pacific Gas and Electric Company, CAISO, PG&E, PG, California Department of Water Resources, Demand response, Renewable energy, Heating, ventilation, and air conditioning

OAKLAND, Calif., July 21, 2023 /PRNewswire/ -- As another warming trend builds over California with some areas forecasted to hit triple digits through the weekend, Pacific Gas and Electric Company (PG&E) is prepared to meet increased electricity demand with new energy supply, and programs offering customers incentives for adjusting energy use to help reduce demand.

Key Points:

PG&E has contracts for battery energy storage systems totaling more than 3,000 MW to be deployed over the next few years.
"PG&E is working with the state's energy agencies and doing our part to help ensure safe and reliable electric service this summer.
PG&E also is modifying and expanding existing Demand Response (DR) programs which help reduce energy demand.
Last year, approximately 60 MW were saved during each event, and PG&E customers received over $55 million in bill credits.

Demand response (DR) market size is set to grow by USD 2,251.76 million from 2022-2027; The increasing gap between electricity supply and demand boosts the market- Technavio

Retrieved on:

Thursday, June 8, 2023

NEW YORK, June 8, 2023 /PRNewswire/ -- The global demand response (DR) market size is estimated to grow by USD 2,251.76 million from 2022 to 2027, according to Technavio.

Key Points:

NEW YORK, June 8, 2023 /PRNewswire/ -- The global demand response (DR) market size is estimated to grow by USD 2,251.76 million from 2022 to 2027, according to Technavio.
This will continue to create market demand for DR in the US during the forecast period.
The shortage of coal is also affecting electricity generation processes, which is leading to a shortage in the electricity supply.
The need to focus on core competencies is one of the key drivers supporting the managed detection and response services market growth.

WatchWire's INTEGRATE '23 Bridges the Gap Between Energy and Sustainability

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Tuesday, May 9, 2023

Carbon, Jerusalem Center for Public Affairs, Public affairs, Education, Face, NYU, ChatGPT, Sustainability studies, Empire, Demand response, REC, Carbon accounting, Student, Artificial intelligence, ESG, Conference, Dean (education), Tourism

NEW YORK, May 9, 2023 /PRNewswire-PRWeb/ -- On Thursday, April 27th, WatchWire held its first annual INTEGRATE User Conference at the beautiful Virgin Hotels New York City, showcasing sweeping views of Midtown and the Empire State Building. The event aimed to bring together WatchWire users and industry leaders across energy and sustainability teams to create a uniquely collaborative and educational space that addressed the issues facing the ESG space today.

Key Points:

As the name implies, WatchWire's first annual INTEGRATE conference was focused on bridging the gap between energy and sustainability to facilitate a pragmatic and action-oriented approach over far-reaching goal proclamations that are not grounded in data-driven plans.
Dr. Kissane opened with a compelling conversation on energy security, the renewable energy transition, the issues currently facing New York City, as well as how sustainability ties these ideas together.
While there is often a dichotomy between sustainability and energy topics, the two panels managed to integrate the two.
WatchWire's first annual INTEGRATE conference was focused on bridging the gap between energy and sustainability to facilitate a pragmatic and action-oriented approach over far-reaching goal proclamations that are not grounded in data-driven plans.