First-of-its-kind program will offer financial incentives for up to 7,500
customers in exchange for turning their residential batteries into a collective
energy resource during periods of peak demand
SAN FRANCISCO and OAKLAND, Calif., Feb. 06, 2023 (GLOBE NEWSWIRE) --
Following a year of record-high summer temperatures in California, Sunrun
(Nasdaq: RUN) and Pacific Gas and Electric Company (PG&E) today launched
an innovative energy reliability program to provide meaningful and flexible
support from residential solar and battery systems during the state’s
hottest months, when demand for energy is highest and energy supplies are
tighter.
Through the Energy Efficiency Summer Reliability Program, Sunrun will enroll
up to 7,500 new and existing residential home solar and battery systems in
PG&E’s service area into the program, creating a virtual power plant
capable of discharging 30 megawatts of clean energy back to the grid.
PG&E and Sunrun partnered to create an optimal battery dispatch schedule
that lowers the overall cost of power during the times of highest need as
well as reduces critical strain on the entire energy system and reliance on
fossil fuel burning power plants.
A virtual power plant works by storing renewable energy produced by rooftop
solar panels during the day across a large number of homes, then sharing
that energy back to the grid during peak times, such as at night when the
sun has set or when energy supply is tight during hot summer months.
Enrolled battery systems will be directed to discharge every day from 7 p.m.
to 9 p.m. during the months of August through October, a critical window
when energy needs are highest in California. In exchange, customers will
receive an upfront payment of $750 and a free smart thermostat for
participating. Batteries enrolled in the program will retain enough energy
to meet personal, essential needs in the event of a local power outage in
their area.
All Sunrun solar and battery customers in single-family homes who have an
interconnection agreement with PG&E, and are not enrolled in other
demand response programs, are eligible to participate.
This program will also provide Sunrun incremental revenue for managing and
delivering virtual power plant services to the grid for one year, and an
opportunity for Sunrun and PG&E to extend and expand the program in
future years.
“There’s no denying climate events are becoming more severe and power
outages are more frequent and prolonged as a result,” said Mary Powell, CEO
of Sunrun. “Consumers want energy security and peace of mind, and by
integrating more reliable clean energy resources into the grid through this
innovative program, we can deliver that with PG&E. This forward-looking
partnership strengthens our emergency preparedness and puts the customer at
the center of the energy system.”
“Home batteries and virtual power plants are valuable resources for
supporting grid reliability and an essential part of California’s clean
energy future,” said Patti Poppe, CEO of PG&E Corporation. “PG&E is
making great strides ensuring the grid is ready to partner with a diversity
of energy providers. In collaboration with Sunrun, our Energy Efficiency
Summer Reliability Program will serve as a unique resource that will
positively contribute to our state’s electric grid and complement a host of
actions PG&E is taking to provide greater energy resilience to our
customers and hometowns.”
This first-of-its-kind partnership was formed after an issuance by the
California Public Utilities Commission for “Energy Efficiency Actions to
Enhance Summer 2022 and 2023 Electric Reliability,” a direct response to a
State of Emergency proclamation issued by California Governor Gavin Newsom.
The proclamation challenges energy providers “to take immediate action to
reduce the strain on the energy infrastructure, increase energy capacity,
and make energy supply more resilient this year to protect the health and
safety of Californians.”
The new Sunrun VPP is part of a suite of programs and solutions that
PG&E has implemented to decrease energy demand and increase energy
supply during critical hours of the day to ensure grid reliability during
extreme heat events. This also includes procuring additional energy supply,
deploying new incremental battery energy storage capacity, expanding
existing Demand Response (DR) programs and incentives, and launching new DR
options.
The new Sunrun VPP
was approved by the CPUC
on January 30, 2023. Sunrun will soon begin enrolling customers into the
program and start dispatches on August 1, 2023. PG&E customers
interested in participating in the program can purchase or lease a Sunrun
home solar and battery system for no up-front cost and low monthly payments
at
www.sunrun.com.
About Sunrun
Sunrun Inc. (Nasdaq: RUN) is the nation’s leading home solar, battery
storage, and energy services company. Founded in 2007, Sunrun pioneered home
solar service plans to make local clean energy more accessible to everyone
for little to no upfront cost. Sunrun’s innovative home battery solutions
bring families affordable, resilient, and reliable energy. The company can
also manage and share stored solar energy from the batteries to provide
benefits to households, utilities, and the electric grid while reducing our
reliance on polluting energy sources. For more information, please visit
www.sunrun.com.
About PG&E
PG&E, a subsidiary of
PG&E Corporation
(NYSE:PCG), is a combined natural gas and electric utility serving more than
16 million people across 70,000 square miles in Northern and Central
California. For more information, visit
pge.com
and
pge.com/news.
Media Contacts
Wyatt Semanek
Senior Manager, Public Relations
press@sunrun.com
Investor & Analyst Contact
Patrick Jobin
Senior Vice President, Finance & IR
investors@sunrun.com
Source: Sunrun Inc.