GoodLeap Launches Virtual Power Plant Solution

GoodLeap, a technology platform for financing and software products for implementing sustainable solutions, announced the launch of its Virtual Power Plant (VPP) offering called GoodGrid. By enabling GoodLeap to work with homeowners to optimize the performance of their batteries and other devices through its software platform, members of the GoodGrid community can expect to earn ongoing monetary rewards while supporting a more reliable and sustainable electric grid.

One of the fastest growing VPPs in the country, GoodGrid is committed to improving one of the most “stressed” utility grids in the country. GoodGrid has already deployed energy to help mitigate six “stress” events in the California Energy Commission’s (CEC) Demand Side Grid Support (DSGS) program, where consumer demand for energy exceeded its capacity.

“Distributed energy has proven its worth to millions of customers who benefit from cleaner, more reliable, and affordable energy every day,” said GoodLeap Founder, Chairman and CEO Hayes Barnard. “Now, our GoodGrid software will help utilities and homeowners maintain a stable grid while avoiding blackouts and expensive fossil fuels. This solution offers homeowners and utilities a path forward to work together to meet our nation’s growing energy needs.”

The term “virtual power plant” (VPP) is used to describe a network of products behind the meter in a home, including rooftop solar systems, home batteries, HVAC systems, electric vehicles, heat pumps, and water heaters, among others. A VPP provider, along with a homeowner enrolled in the VPP program, can expect to be paid for the network services they are expected to provide, for the network services they provide, or both. Participation opportunities and compensation schedules will vary by region based on energy demand, state policies, and availability of partnerships with utilities.

“With extreme weather and historic increases in electricity demand, the risk of power outages is driving up the price of electricity,” said Dan Lotano, GoodLeap’s Chief Strategy Officer. “Utilities and grid operators are exploring every possible solution to keep the lights on in their communities without burdening consumers with unaffordable prices. Many homeowners have already installed battery solutions, and now we’re using our GoodGrid technology to bring together all key stakeholders and create additional value for everyone.”

More information about GoodLeap’s activities as a DSGS provider and the DSGS participation compensation opportunities available to eligible California-based GoodLeap customers can be found here.

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