Duke Energy Renewables is increasing savings for commercial solar customers through an alliance with Green Charge Networks, the country’s largest provider of commercial energy storage for retail, industrial and government customers.
The agreement provides these customers with “solar firming,” a way to smooth the peaks and valleys of a variable energy source. It also saves customers money by offsetting the higher prices of peak demand power.
Green Charge Networks, based in Santa Clara, Calif., will work closely with solar provider REC Solar to market energy storage systems with REC’s solar projects. Initial focus will be on the Southern California and Hawaiian markets.
Duke Energy acquired a majority interest in REC Solar and energy management company Phoenix Energy Technologies earlier this year.
“Our goal is to make it easier for customers to combine solar and storage, so they can benefit from high quality, consistent and economical power 24/7” said Greg Wolf, president Duke Energy Renewables and Commercial Portfolio. “In addition, through Phoenix ET, we’ll also have the ability to offer other energy management systems for those customers seeking a complete and integrated energy savings platform.”
REC Solar, based in San Luis Obispo, Calif., serves customers nationwide in the retail, manufacturing, agriculture, technology, government and nonprofit sectors and was ranked by PBN Research as the leading solar company in Hawaii by 2014 revenue.
“Energy storage adds to the list of compelling reasons why businesses should go solar,” said Al Bucknam, CEO, REC Solar. “Commercial customers save money by adding energy storage to reduce their peak demand, which can account for up to 50 percent of their electricity bill.”
With a combination of lithium-ion battery technology and predictive software, Green Charge systems will draw power from the REC Solar system and the grid during off-peak hours, when electricity is inexpensive, and release it during peak hours, when electricity is more expensive.
“Energy storage is the ideal complement to REC Solar’s offering, helping customers get the most out of a sustainable resource, securing their investment through solar firming and lowering energy costs,” said Vic Shao, CEO at Green Charge Networks. “By partnering with the largest electric power holding company in the United States and REC Solar, we add momentum to our domestic expansion plans.”
Both REC Solar and Green Charge Networks provide competitive, customer-friendly financing options. Green Charge offers a financing model that allows customers to reduce energy costs with no capital output. REC Solar offers tailored financing packages, including leases and power purchase agreements, through an efficient and streamlined financing relationship with Duke Energy.
The Green Charge energy storage platform, a scalable, modular system that monitors facility loads on a second-by-second basis, received the 2015 Product of the Year award from Energy Manager Today.
With behind-the-meter solar, energy storage and demand management offerings, Duke Energy has created a compelling platform of onsite energy solutions for commercial customers large and small.
What’s All This Hype About Commercial Solar + Storage?
Combining solar and energy storage can generate significant value for commercial energy customers. Due to technology improvements and cost reductions, installing storage with solar can maximize energy savings potential and, with innovative financing solutions, it can be accomplished without using valuable capex dollars.
Connect to https://youtu.be/tmgC_6102YM to see Duke Energy Renewables’ Greg Wolf and REC Solar’s Al Bucknam further discuss solar, energy storage and the benefits of the alliance to customers.
About REC Solar
REC Solar is the only renewable energy provider focused exclusively on businesses and backed by Duke Energy, one of the largest energy companies in the world. Incorporating experience from more than 550 successful commercial solar installations over 20 years, REC Solar tailors financing and technology solutions to immediately deliver bottom line savings. REC Solar makes commercial solar simple, working seamlessly with customer operations to deliver clean energy for decades. For more, visit RECSolar.com or call 844-REC-SOLAR (844-732-7652).
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy’s Commercial Portfolio, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company’s growing portfolio of commercial renewable assets includes 17 wind farms and 34 solar farms in operation in 12 states, totaling more than 2 gigawatts in electric-generating capacity. Learn more at www.duke-energy.com/renewables.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at www.duke-energy.com.
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About REC Solar
Green Charge provides the easiest way to save energy costs for commercial and industrial businesses, municipalities and schools. Our award-winning solution delivers industry leading savings, up to 50 percent in demand charges. We provide risk-free financed energy storage and software that time-shifts power use and optimizes electric vehicle charging, solar and energy efficiency measures. Founded in 2009, Green Charge is headquartered in Santa Clara, Calif., with offices in New York City and San Diego. Please visit www.greencharge.net for more information.
About Phoenix Energy Technologies
Phoenix Energy Technologies is a strategic partner and leading provider of EnterpriseDX, energy management software and services for multinational retailers, theaters, universities and expanding into grocers. PhoenixET provides commercial customers with actionable data to control their energy usage and costs through an enterprise energy information and management software platform. Headquartered in Irvine, Calif., the company’s team of approximately 63 employees is focused on company culture, innovation and customer satisfaction.
Green Charge Networks