The 3.7 megawatt-hour portfolio will participate in the wholesale energy markets and deliver grid flexibility
HOUSTON, June 29, 2022 /PRNewswire/ — Energy Toolbase, an industry-leading software provider of tools for project modeling, energy storage controls, and asset monitoring products for solar and storage projects is deploying its Acumen EMS™ controls software on a portfolio of standalone energy storage projects being developed and deployed by Ventura Energy, an owner and developer of renewable energy and energy storage projects. The five-site portfolio of standalone energy storage projects, deployed at critical water facilities, will participate in the wholesale energy markets and provide critical support to California’s grid through a program facilitated by Leap, a leading provider of energy market access for distributed energy resources.
With California’s goal of decarbonizing its electricity sector by 2045, the state has a massive opportunity to leverage its nation-leading fleet of behind-the-meter batteries to support grid reliability and drive renewable growth. As part of this effort, the Ventura Energy portfolio in Southern California will leverage Acumen EMS and Leap’s platform to bid its price-responsive load into CAISO, delivering zero-carbon energy when dispatched and providing much-needed Resource Adequacy to the utility. The portfolio is made up of five sites, totaling 3.7 Megawatt hours (MWh) utilizing Tesla energy storage systems. Ventura’s innovative project-financing model uses projected grid services revenues to deliver more cost-effective backup power to its customers.
"We’re excited to deploy our first portfolio of grid-interactive projects working with Ventura and Leap," said Chris Sefel, the Manager of Enterprise Sales with Energy Toolbase, "We intend to replicate this model and enable many more ETB-controlled energy storage systems to participate in the wholesale energy markets."
The projects will enroll and make nominations into California’s Demand Response Auction Mechanism (DRAM) program, which is a pay-as-bid auction program that aims to bolster grid stability by compensating demand-side resources, including energy storage systems, to curtail energy when the grid is strained. The partnership between Energy Toolbase, Ventura Energy, and Leap will enable all parties to maximize revenue and support for the grid through a performance-based revenue-share model for the portfolio.
"We are excited to get these projects energized, prove out this model, and then repeat this performance-based revenue share structure on future projects," said Clara Nagy McBane, the Founder and Owner of Ventura Energy.
"California has a large and growing base of distributed energy resources that can deliver critical flexibility to the grid and help avoid blackouts," said Jason Michaels, Chief Commercial Officer with Leap. "As a leading platform for modeling and operating commercial energy storage projects, Energy Toolbase is a natural partner for us to enable asset owners like Ventura to capture full value from their projects. We’re excited to partner with Energy Toolbase and Ventura to provide resiliency and zero-carbon energy to the California grid."
Energy Toolbase recently launched its Special Programs feature on the ETB Monitor platform, which enables Acumen EMS-controlled energy storage systems to function as virtual power plants and participate in demand response or grid services programs. This feature allows customers to view, manage, and schedule participation into energy market programs, such as DRAM in California. Asset owners are able to extract the maximum value from standalone storage and solar + storage projects by co-optimizing value capture with behind-the-meter utility bill savings control strategies.
Energy Toolbase is an industry-leading software platform that provides a cohesive suite of project estimating, storage control, and asset monitoring products that enable solar and storage developers to deploy projects more efficiently. Energy Toolbase’s SaaS products are used by over 1,000 distributed energy organizations worldwide. To learn more or request a free trial, visit: https://www.energytoolbase.com.
Energy Toolbase is backed by its parent company, Pason Systems, a leading global provider of data management systems and controls automation software for the energy industry. With a global footprint and 40-year track record, Pason enjoys one of the strongest balance sheets in the industry and trades on the Toronto Stock Exchange under the symbol PSI.
Ventura Energy has 15 years of experience developing, engineering, and deploying more than one gigawatt-DC of solar and energy storage projects. Headquartered in San Francisco, with an office in Ventura, CA, Ventura Energy offers infrastructure, industrial, and business customers a broad array of renewable and resilient development, consulting, and financial and asset management services. https://ventura.energy
Leap is the leading global platform for generating new value from grid-connected resources and devices through integration with energy markets. Leap does all of the heavy lifting, seamlessly connecting technology partners to high-value revenue streams and providing a simplified, automated access point for market participation with batteries, electric vehicle charging, smart thermostats, HVAC systems, industrial facilities, and other flexible assets. By making it easy for new distributed resources to participate in energy markets, Leap lays the groundwork for virtual power plants (VPP). Leap empowers its partners to provide resilient, zero-carbon capacity to the grid while strengthening engagement with their customers through new value streams. For more information visit: https://leap.energy/.
SOURCE Energy Toolbase