Eguana Technologies Inc. (EGT:TSX.V; EGTYF:OTCQB) announced in a news release that with solar installer, ReVision Energy, it launched four distributed residential energy storage systems in Massachusetts, essentially forming an aggregated virtual power plant.
The installations were done for a pilot project of Unitil, an electricity and natural gas utility company serving Massachusetts, New Hampshire and Maine.
The purpose of Unitil's program, and thus the installation of the 5 kilowatt/13 kilowatt hours Evolve residential energy storage systems to certain customers, was "to demonstrate aggregate control of residential distributed energy resources under variable seasonal demands," the release noted.
"Using Eguana's fleet aggregation functions, seasonally adjusted solar photovoltaic (PV) systems-firming algorithms deployed remotely to the sites on the network allowing PV output to be shifted (winter) and/or firmed (summer: flattening of the 'duck curve') to match peak load demand during predefined daily schedules."
With Eguana's technology, its Evolve system can be operated by the utility or by the homeowner. For the latter, it shifts to a solar self-consumption system, and residential users can store solar electricity and support the local energy grid.
"We are pleased that our technology platform has been selected by ReVision Energy, who is one of the most important names in the Northeast solar market, as it continues to illustrate our reach into the American solar market," said Livio Filice, director of sales at Eguana Technologies. "There are various emerging Demand Response programs being shaped in New England which will benefit the uptake rate of residential energy storage systems in the near future. Eguanaís participation in this next-generation utility pilot project marks the company's successful entrance into the Northeast utility market."
Solar design specialist at ReVision Energy, Haley Belofsky, said, "Our customers feel fortunate to be involved in the pilot. They are enthusiastic about their ability to store solar electricity while supporting the grid. Having the opportunity to work in partnership with Eguana and Unitil was ground-breaking for the Massachusetts market. I am eager to see how these installations will help shape future decisions of our utilities and the solar industry."
Read what other experts are saying about:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Eguana Technologies. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Eguana Technologies. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Eguana Technologies, a company mentioned in this article.