CPower Awarded 2022 Green Bank Award, Recognized as Early Adopter for Energy Storage Solutions
The Connecticut Green Bank Highlights CPower’s Leadership in Expanding Access to Energy Storage to Support Greater Grid Reliability
BALTIMORE – April 27, 2023 — CPower Energy (“CPower“), the national leader in unlocking the value of customer Distributed Energy Resources (DERs), today announced that it has been awarded a 2022 Green Bank Award for being an Early Adopter in Energy Storage Solutions. As one of the first approved Eligible Contractors, CPower was among the first to submit a storage project to Energy Storage Solutions. The Connecticut Green Bank established the Green Bank Awards to recognize companies advancing the green energy movement and helping bring resilience, health, and equity to Connecticut.
Energy Storage Solutions provides incentives to lower the cost of energy storage systems. The program is overseen by the Public Utilities Regulatory Authority (PURA), is paid for by electric ratepayers, and is administered by the Green Bank, Eversource, and United Illuminating. CPower was awarded more than 25 MW of battery systems for the first tranche of the program and has submitted additional projects for the next stage of the program to help the state meet its energy storage goals.
“We are honored to be recognized by the Connecticut Green Bank for helping customers adopt energy storage to support their business goals and for the benefit of the wider community,” said Keith Black, Regional Vice President – Northeast, CPower. “CPower has worked with Connecticut energy users for over 15 years, and we look forward to continuing to support the state’s energy storage and sustainability goals for decades to come. The state’s Energy Storage Solutions program is particularly impressive; it helps maximize the value of businesses’ energy resources while simultaneously helping the state meet its renewable energy goals – we will continue to forge full speed ahead with this initiative.”
With 6.3 GW of DER capacity at more than 17,000 sites across the U.S., CPower is the country’s leading DER Monetization provider and was recently named the North America leader in Wood Mackenzie’s Virtual Power Plant (VPP) Market report. Nationally, CPower manages approximately 700 MW of distributed generation and energy storage capacity. The company guides energy users, including education, healthcare, government, manufacturing, and data centers, on their energy storage needs to help them save on energy costs, strengthen their operational resilience, and reach sustainability goals.
“CPower has been a tremendous partner to the Connecticut Green Bank and Energy Storage Solutions,” said Sergio Carrillo, Managing Director of Incentive Programs at the Connecticut Green Bank. “Their knowledge and expertise were instrumental in crafting a program that supports Connecticut’s businesses and the state’s energy storage and climate goals.”
About CPower Energy
CPower Energy is the national leader of grid balancing and reliability solutions, creating a Customer-Powered GridTM that will enable a flexible, clean, and dependable energy future. With 6.3 GW of capacity at more than 17,000 sites across the U.S., we unlock the full value of distributed energy resources to strengthen the grid when and where it’s needed most. CPower is based in Baltimore, Md., and is owned by LS Power, a development, investment, and operating company focused on the power and energy infrastructure sector. For more information, visit www.cpowerenergy.com.
About the Connecticut Green Bank
The Connecticut Green Bank was established by the Connecticut General Assembly in 2011 as the nation’s first state-level green bank and has since supported the creation of more than 26,000 green jobs in the state, while reducing the energy cost burden on over 66,000 families, businesses, and nonprofits. The Green Bank’s vision is a planet protected by the love of humanity, and its mission is to confront climate change by increasing and accelerating investment into Connecticut’s green economy to create more resilient, healthier, and equitable communities. This is accomplished by leveraging limited public resources to scale-up and mobilize private capital investment into Connecticut. In 2017, the Connecticut Green Bank received the Innovations in American Government Award from the Harvard Kennedy School Ash Center for Democratic Governance and innovation for their “Sparking the Green Bank Movement” entry. To date, the Green Bank has mobilized nearly $2.5 billion into the state’s green economy. This has reduced the energy costs for thousands of families and businesses, and reduced greenhouse gas emissions that cause climate change and worsen public health.