NEW YORK, NY--(Marketwired - Aug 8, 2016) - Demand Energy, a leader in intelligent energy storage systems, today announced that it was a successful bidder in Consolidated Edison's first-ever auction to provide critical load relief on peak power days in New York City. Demand Energy will soon begin installing multiple megawatts of energy storage in Brooklyn and Queens, controlled by the company's Distributed Energy Network Optimization System (DEN.OS) intelligent software platform, and planned for operation in 2017. The company's growing portfolio of installations in New York will include various projects receiving benefits both under the auction, as well as other Con Edison and/or New York State Energy Research and Development Authority (NYSERDA) programs.
The projects will be part of Con Edison's Brooklyn-Queens Demand Management (BQDM) program, the largest and most comprehensive non-wires alternative distribution project in the country. The goal is to delay the need for a new $1.2 billion substation, largely using demand-side resources such as energy storage, energy efficiency and demand response.
"Demand Energy has a five-year track record of providing storage-based, energy-saving demand management solutions in New York City, in partnership with property owners and Con Edison," said Doug Staker, Vice President of Global Sales for Demand Energy. "We're gratified by our success in this auction process. The results prove that the combination of advanced technology solutions like ours and a fair and well-managed transactive energy market, can deliver real value to utilities and end users."
Electric load relief is needed in New York City during peak summer periods so as to avoid over-taxing existing generation resources, which can lead to power interruptions and cutbacks. The problem is becoming especially acute given the annual growth in demand in Brooklyn and Queens. This storage-based approach will save considerable money, reduce emissions, and accelerate implementation of a more flexible and sustainable solution.
Demand Energy's DEN.OS™ is an intelligent software control platform that reduces peak demand while maximizing economic returns from behind-the-meter storage systems alone -- or in combination with distributed generation resources, such as fuel cells and solar power.
Con Edison's efforts in New York City are in line with the state's Reforming the Energy Vision (REV) Initiative, which is aimed at creating a transactional market and establishing value-based pricing, rather than passing mandates as has been done in other states. The goal is to create a cleaner, more affordable, modern and efficient energy system, through increased deployment of distributed energy resources like rooftop solar, combined heat and power, energy efficiency, and energy storage.
ABOUT DEMAND ENERGY
Founded in 2008 and led by a team of seasoned entrepreneurs from the telecom, utility and renewable energy industries, Demand Energy has developed a best-in-class Distributed Energy Network Optimization System (DEN.OS™) that maximizes the economic returns of behind-the-meter storage systems alone, or in combination with distributed generation (DG). The company provides a turnkey solution (hardware, software and services) that ensures clear accountability by tying together upfront modeling, design and simulation, with the installation and operational monitoring, control, and financial optimization required to deploy storage-plus-DG solutions at speed and scale. The DEN.OS software platform was architected as an end-to-end solution that delivers differentiated value across the entire project life cycle, and can support both utility and behind-the-meter projects. www.demand-energy.com