Con Edison Selects Sunverge for the Smart Home Rate Project
Following a competitive bid process, Con Edison, the energy company that serves New York City, has selected Sunverge’s intelligent energy storage system and dynamic Virtual Power Plant (VPP) platform for its new Smart Home Rate project. The demonstration project is designed to test an advanced residential rate design in conjunction with battery storage technology and solar PV. The rate will have dynamic, time-varying components that closely reflect the various cost drivers of the electric supply and delivery system to determine how this rate performs in conjunction with near real-time price responsive control and automation technology.
The Sunverge integrated and dynamic platform will help customers get the most out of complex, dynamic rates that includes time-variant supply charges, a daily demand charge, and event-based coincident demand charges. The Sunverge platform will receive the hourly energy prices and demand events, and automatically manages power flows behind the meter to optimize the use of grid power, battery storage, solar self-generation, and smart appliances in the home to reduce customer energy bills and improve efficiency.
“In order to meaningfully integrate renewables into the grid, we need dynamic pricing coupled with near real-time local generation, storage, load control and response,” said Sunverge CEO Martin Milani. “By getting dynamic price signals to intelligent and dynamic local control, coupled with near real-time response to the price signals, the Sunverge platform allows for creation and orchestration of flexible load shape – one the most important components for the distributed and self-balancing smart grids of the future.”