CPower unveils vision of a Customer-Powered GridTM to enable the clean energy transition
Vision showcases how unlocking the full value of Distributed Energy Resources lowers energy costs, while driving community resiliency and decarbonization
BALTIMORE – December 8, 2022 – CPower Energy (“CPower”) today announced its vision of a Customer-Powered Grid™ to enable a flexible, clean, and dependable energy future. With 6.3 GW of capacity at more than 17,000 sites across the U.S., CPower is the national leader in unlocking the value of customer distributed energy resources (DERs) to provide grid flexibility and reliability solutions. CPower rewards energy users for leveraging their DERs to help balance the grid; this creates a Customer-Powered Grid that is enabling more-interconnected energy infrastructure to support their community resilience and drive decarbonization:
- A Customer-Powered Grid benefits energy users across the U.S. CPower has paid out more than $1 billion in grid revenue to its customers since 2015, and has grown its total monetized MW by 38% over the last three years. CPower also continues to create new value for its customers through innovation: CPower’s artificial-intelligence technology optimizes behind-the-meter DERs to create new revenue streams and increase on-bill savings for customers to reinvest into their business for operational or sustainability initiatives. Called EnerWiseTM Site Optimization, this data-driven innovation meets energy users’ needs for an automated ‘touch-free’ solution that can coordinate and optimize DER scheduling by analyzing the latest market and grid conditions.
- A Customer-Powered Grid drives resiliency. DERs augment traditional supply-driven grids powered by utilities and grid operators. Over the last several years, multiple, grid-level reliability issues and impacts from more frequent extreme weather events have been prevented or mitigated through the support of demand response solutions. Demand response also acts as a flexible resource for grid operators for opportunities to provide fast acting grid services such as ancillary services and energy markets. So far in 2022, CPower has dispatched more than 1,100 times, leveraging the DERs of our more than 2,400 customers to meet the ever-changing needs of the grid.
- A Customer-Powered Grid is necessary to achieve the clean energy transition. Demand flexibility embodies sustainability by tapping resources that are already available to lower emissions. By participating in demand response, DERs help reduce the need for fossil-fueled peaker plants. CPower’s customers avoided more than 286,000 metric tons of CO2 in a single year to improve energy efficiency and dispatch their DERs to the grid. Demand flexibility can also support greater deployments of intermittent renewables by filling gaps in variable generation to further green the grid.
“We need between 115 to 255 gigawatts of new clean power generation a year to achieve 100% renewable energy by 2035 and demand flexibility is critical to ensuring grid stability through this rapid transition and beyond. We have a clear vision of how a Customer-Powered Grid can increase resiliency, sustainability, and economic value for all. This is why we work closely with our customers to strategically deploy their DERs at optimal times to ensure they meet their own operational parameters and maximize their earnings so that they are incentivized for contributing to a cleaner, more resilient power system,” said John Horton, President and CEO, CPower.
Today’s announcement solidifies CPower’s growth strategy as the company evolves from being a demand response pioneer to unlocking more value for its customers: building technology to facilitate greater grid flexibility, predictability, and automation; going beyond grid revenues into on-bill savings; and removing barriers to customer distributed generation enablement through various DER-as-a-service offerings. As a part of the announcement, CPower has modernized its brand including a new logo, refreshed content on its website and more materials to be rolled out in the coming weeks.
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.