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ALRM Alarm com Holdings Inc

67.11
-0.30 (-0.45%)
25 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Alarm com Holdings Inc NASDAQ:ALRM NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.30 -0.45% 67.11 64.11 69.77 67.78 66.78 67.78 236,153 01:00:00

EnergyHub and Tesla to support the Northeast's largest battery virtual power plant

08/08/2023 11:30am

PR Newswire (US)


Alarm com (NASDAQ:ALRM)
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EnergyHub's ConnectedSolutions platform is first multi-utility flexibility program in the Northeast to offer new in-app experience for Tesla Powerwall owners

NEW YORK, Aug. 8, 2023 /PRNewswire/ -- Tesla, Inc. and EnergyHub, the industry's most experienced provider of distributed energy management systems (DERMS), have collaborated to enable ConnectedSolutions program enrollment via the Tesla app. The new in-app experience makes joining utility programs frictionless for electricity customers in Massachusetts, Connecticut, and Rhode Island who enroll in ConnectedSolutions, EnergyHub's largest bring-your-own-battery demand response program. The program links batteries to create a virtual power plant (VPP) that can be used to curb peak demand for electricity and to provide additional grid services. 

Tesla Powerwall owners who participate in the ConnectedSolutions program can earn for every kilowatt of benefit they provide to the grid—up to $1,500 per year depending on the size of the battery and the state where they live. Using the new in-app experience, customers can easily enroll in the program and see the entire event including how much energy they are providing, and understand how that results in earnings from their utility.

Tesla Powerwall owners who participate in the ConnectedSolutions program can earn for every kilowatt of benefit they provide to the grid—up to $1,500 per year depending on the size of the battery and the state where they live. Using the new in-app experience, customers can easily enroll in the program and see the entire event including how much energy they are providing, and understand how that results in earnings from their utility.

"This frictionless approach to enrollment is key to building battery storage resources at scale and bringing the benefits of VPPs to the grid," said Matt Johnson, VP Business Development at EnergyHub. "Many small actions add up to an impactful, positive result. It's essential that customers can easily see how they are helping the grid and getting rewarded for it, and the partnership with Tesla enables this level of visibility."

Once a customer is enrolled in the ConnectedSolutions program, their utility will call upon the VPP when the grid is stressed to reduce peak load during the demand response season, which runs from June to September. The program will dispatch batteries no more than 60 times for a maximum of three hours per event. Customers do not have to do anything in response to events. Tesla Powerwall will respond automatically to support the grid.

All EnergyHub utility clients are eligible for participation in the ConnectedSolutions program. Please visit ConnectedSolutions to learn more.

EnergyHub is an independent subsidiary of Alarm.com (NASDAQ: ALRM), the leading platform for the intelligently connected property.

About EnergyHub

EnergyHub is the leading grid-edge DERMS provider. Utilities rely on EnergyHub's DERMS platform to manage all distributed energy resources to serve grid and market objectives. EnergyHub works with over 60 utilities in North America to manage more than 1.3 GW of flexible capacity. We empower utilities and their customers to create a clean, distributed energy future. For more information, visit www.energyhub.com 

Contact:
Anne Steinberg 
Kitchen Public Relations
917-817-4850
anne@kitchenpr.com

EnergyHub empowers utilities and their customers to create clean, distributed energy (PRNewsfoto/EnergyHub)

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/energyhub-and-tesla-to-support-the-northeasts-largest-battery-virtual-power-plant-301895078.html

SOURCE EnergyHub

Copyright 2023 PR Newswire

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