ConEd Selects Provider For Smart Home Rate Project
Following a competitive bid process, Consolidated Edison (ConEd) 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.
Supply pricing for Smart Home Rate participants will differ from standard default service rates:
Under the project, customers (or their designated service provider) will respond to the time varying prices via WiFi thermostats or home energy management systems which are able to control central AC units as well as any other smart home devices participants may have. Customers in both rate design groups will be required to have central air conditioning (AC).
The demonstration will also test a storage plus solar system.
Sunverge said that its 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.