Newest Offering Establishes Generac as the Leader in Providing End-to-End Energy Solutions
Waukesha, WI /PRNewswire/ - Generac Power Systems (NYSE: GNRC) today announced that its line of home standby generators, commercial and industrial generators, and PWRcell solar + battery storage systems are being manufactured and offered as Smart Grid Ready, allowing customers to more quickly and seamlessly sell power back to the grid and offset their energy costs. The Smart Grid Ready capabilities are being offered through Generac's Enbala Concerto platform.
"Through this integration, Generac customers – residential, commercial, industrial and solar – are now capable of making major contributions to grid reliability, resiliency and sustainability," said Aaron Jagdfeld, president and chief executive officer of Generac. "Climate change and an aging electrical grid are making power outages and power shortages more frequent and longer lasting. With Smart Grid Ready, consumers can play a key role in being part of the solution. In addition to the peace of mind that they're receiving from Generac products, customers have the opportunity to obtain additional return on investment by leveraging their Generac units to contribute energy to the grid, support grid stability and receive payment for their excess power."
Via the new platform, Generac's specially designated Smart Grid Ready products become distributed energy resources (DERs), which seamlessly form virtual power plants (VPPs) – collections of DERs capable of augmenting the grid services provided by traditional power generation. The DERs still function as traditional power backup devices, powering the home or business in the event of a power outage, but they can now also enable the sale of power back to the grid in times of peak demand, reducing the amount of strain on the grid and offsetting a portion of asset owners' monthly energy expenses.
"Through this new offering, Generac is proud to have the most comprehensive, end-to-end solution – one that combines solar, battery storage, generators and load management," said Russ Minick, president of Generac's Energy Technology business group and chief marketing officer. "We've taken segmented energy assets that would normally be complicated to connect and brought them together in a seamless fashion. Otherwise dormant backup power can now easily and quickly come online, creating a win-win for all – utilities achieve a cleaner grid with improved reliability and reduced cost-to-serve, while end customers receive direct financial incentives and a more stable grid for participating in VPPs."
Current PWRcell and home standby generator customers will also be able to access Generac's Concerto™ platform through a firmware update. The update will provide existing users with all the same DER capabilities that will arrive standard on new products.
Generac's Enbala Concerto real-time energy-balancing platform provides a highly flexible approach for creating controllable and dispatchable energy resources from flexible loads, energy storage and renewable energy sources. The platform gives energy retailers and utilities the flexibility to operate in real-time and to better manage the escalating complexities of increasingly variable energy assets.
Founded in 1959, Generac is a leading designer and manufacturer of energy technology solutions and other power products. As an industry leader serving residential, light commercial and industrial markets, Generac's products and solutions are available globally through a broad network of independent dealers, distributors, retailers, e-commerce partners, wholesalers and equipment rental companies, as well as sold direct to certain end user customers.