Green Charge Networks, headquartered in Santa Clara, CA and with offices in New York City, utilizes energy storage technology to reduce peak demand charges, upgrade the power grid, and allow renewable energy sources to replace fossil fuel-based baseload generation sources. The company is dedicated to enhancing power efficiency as the next important step beyond increasing energy efficiency.
Green Charge’sflagship product is a commercial demand charge reduction battery system called GreenStationTM, which allows commercial and industrial customers to directly control and manage their electricity demand. The GreenStation works just like a micro-scale peaker plant using lithium ion batteries. During high peak demand times, utilities charge a premium (per kW). These demand charges get added to the energy portion (per kWh) of a customer's total electricity bill. Demand charges are becoming a substantial portion of electric ratepayers' bills, sometimes as high as 70% of the overall monthly bill, depending on the loading pattern. GreenStation’s intelligent control system provides energy during the spikes in energy consumption and recharges during the lulls. Unlike utility-scale peaker plants, which are generally powered by high-emission fossil fuel sources, GreenStation’s battery storage is clean, green, environmentally friendly, and far less expensive.
GreenStation is complementary with PV systems and other clean power sources. Intermittent renewables currently cannot replace baseload power because when cloud cover comes, generation drops off. However, aggregated systems of PV + storage with suitable intelligent controls can replacegreenhouse-gas-intensive power plants. For buildings to be more power efficient and to optimize the potential for environment benefits, intelligent energy storage must be accessible to business owners. GCN estimates that building owners can save up to 50% in demand charges on their electric bills using the GreenStation product.
Leveling peak power demands through energy storage on the customer’s side of the meter and increasing power efficiency provides benefits to all parties. Commercial businesses can reduce their demand charges without having to reduce or curtail operations. Utilities ultimately incur less capital expenditure for service upgrades and new power plants. The pace of renewable adoption can continue to accelerate when there is a way to store excess generation, and the environment benefits from reduced use of dirty peaker plants.
Green Chargeoffers the GreenStation product through a Power Efficiency Agreement℠ or PEA℠, which eliminates the upfront cost burden for the customer and is based on deliveringshared savings on demand reduction. Under a PEA, Green Chargeinstalls, owns, operates, and maintains the GreenStation equipment at the host location, in return receiving a share of the energy bill savings at the customer site. The system provides the customer with a combination of utility bill savings, zero capital and maintenance costs, and mitigated performance risk. The company points out that the PEA concept can work well with solar, electric vehicle (EV) chargers, and energy efficiency measures.
The company has already signed up 2MW worth of GreenStations. These systems have been successfully installed by 7-Eleven, Walgreens, UPS, school campuses, and cities across New York and California.Green Charge has just announced that they have raised $56 million in a new funding round led by K Road DG which includes K Road Power executives William Kriegel, Gerrit Nicholas, Mark Friedland and Intel Capital founder George Coelho. K Road DG has over 100+ years industry experience in the renewable energy markets. The new funding will allow Green Charge to greatly expand their PEA program to new customers from coast to coast.
“Power efficiency is the next frontier in energy savings,” says Vic Shao, CEO at Green Charge Networks. “At Green Charge Networks, our GreenStations enable buildings across the country to manage their power consumption and further reduce their electric bills. Adoption of intelligent energy storage to reduce demand charges has grown exponentially and we have the power to scale GreenStations from coast to coast.”
Green Charge Networks was founded with the intention of facilitating the development of the energy storage to reduce peak demand charges. The company intends to be the clear market leader in the emerging grid-connected energy storage business. It has already demonstrated its leadership with the installation of intelligent utility-connected energy storage systems across the country.