Utility pilot creates recurring revenue stream
American Electric Power (AEP) has chosen Viridity Energy's platform to actively manage and optimize their electric load. The platform allows AEP's headquarters to participate in the wholesale power market.
The pilot will demonstrate how real-time, dynamic customer load management can serve as an active, reliable resource that works in tandem with generator, utilities and grid operators for a more efficient, reliable and cost-effective electric grid.
The solution takes into consideration overall load forecast and generation forecasts, energy prices, and building attributes, including resources, systems, and constraints. The solution then matches AEP's operations against market pricing forecasts for an optimal schedule for using the least amount of energy when prices are high, and shifting variable energy load to when prices are low.
The energy resources available at AEP headquarters will be monetized in the capacity and energy markets operated by PJM Interconnection, creating a new, recurring revenue stream for AEP headquarters.
ConEdison, Viridity turn consumers into prosumers