CPower Joins Industry Leading “Virtual Power Plant Partnership” Initiative
CPower joins RMI, Google Nest, Ford, General Motors, and others to scale the market for virtual power plants
BALTIMORE – March 21, 2023 – CPower Energy (“CPower”), the national leader in unlocking the value of customer Distributed Energy Resources (DERs), today announced that it has joined RMI’s Virtual Power Plant Partnership (VP3). The initiative aims to catalyze the industry and transform policies to support scaling virtual power plants (VPPs) in ways that help advance affordable and reliable electric sector decarbonization by overcoming barriers to VPP market growth. CPower joins industry leaders, including Ford, General Motors, and Google Nest, among others, in working toward a future where businesses, households, and communities are empowered through VPPs which can help to support cost-effective energy, emissions reductions, and a more resilient electricity grid.
Founded in January 2023, VP3 focuses on cataloging, researching, and communicating the benefits of VPPs, including making the grid more reliable and resilient to extreme weather, lowering energy costs, enabling economy-wide electrification, and unlocking the potential of DERs to integrate clean energy. The group is also focused on developing new industry-wide best practices, standards, and roadmaps as well as informing and shaping new nationwide policies.
“We are proud to join our industry colleagues as a member of RMI’s VP3 Initiative and lend CPower’s experience in managing the most flexible capacity of any VPP provider in the U.S.,” said John Horton, President and CEO, CPower. “CPower was recently recognized as the North America leader for flexible capacity in Wood Mackenzie’s most recent market report. We have a unique understanding that expanded access to VPPs is critical for creating the Customer-Powered GridTM and are excited to bring our deep experience to a collaboration across the value chain to help grid operators meet real-time supply needs for customers with clean and distributed resources.”
“Virtual power plants can provide essential grid services by reducing peak power demand and improving resilience in a world of increasingly extreme climate events,” said Mark Dyson, Managing Director of RMI’s Carbon-Free Electricity Program. “VP3 is excited to partner with CPower and other industry leaders to grow the market for VPPs and ensure the energy transition doesn’t miss a beat.”
With 6.3 GW of DER capacity at more than 17,000 sites across the U.S., CPower was recently recognized by Wood Mackenzie as the national leader for flexible capacity in its recent Virtual Power Plant (VPP) Market report, and is uniquely positioned to support the goals of VP3. CPower will offer perspective on how to expand VPP access for larger C&I energy users, which make up the vast majority of DER capacity, as well as DER Owners and Operators who develop portfolios of behind-the-meter assets across the country.
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, Maryland 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.