Leap Joins Virtual Power Plant Partnership To Accelerate The Energy Transition
SAN FRANCISCO--(BUSINESS WIRE)--
Leap, the leading platform for energy market access, today announced that it has joined the Virtual Power Plant Partnership (VP3). RMI, founded as Rocky Mountain Institute, launched the VP3 initiative in January 2023 to advance virtual power plant (VPP) solutions to help decarbonize the electricity sector. Through this collaboration, Leap will work closely with other leading energy technology companies, including Leap’s current technology partners Google Nest and Sunrun, to accelerate the growth of the VPP industry.
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Virtual power plant solutions improve grid reliability, reduce the grid’s carbon intensity and help enable the integration of more clean energy sources. (Photo: Business Wire)
Virtual power plants are grid-integrated portfolios of distributed energy resources (DERs) aggregated across hundreds or thousands of households and buildings to offer flexible support to electric grids. VPP solutions improve grid reliability, reduce the grid’s carbon intensity and help enable the integration of more clean energy sources. Leap aggregates the battery storage systems, electric vehicle (EV) chargers, smart building systems and other DER technologies enrolled on its platform to supply VPPs in energy markets across the United States. Leap currently has over 65,000 meters and 660 MW of load authorized on the Leap platform. Wood Mackenzie recognized Leap as the leading VPP market interface by number of aggregations in its recent Virtual Power Plant market report.
“We’re seeing a massive adoption of smart energy technologies in homes and businesses, and with that comes an unprecedented opportunity to scale up virtual power plant solutions,” shared Andrew Hoffman, Leap’s Chief Development Officer. “Leap is excited to join the Virtual Power Plant Partnership to help unlock the full potential of DER aggregation to balance the grid, lower carbon emissions and create real financial value for participants.”
Leap demonstrated the capacity of VPPs to bolster grid resilience during last September’s historic California heat wave, when they mobilized over 24,000 unique energy devices to provide support to the strained electric grid, while generating $1 million in revenue opportunities for its technology partners. Through the VP3 partnership, Leap’s team of energy market experts will help to transform the market for VPPs by informing and shaping policy development, researching and communicating VPP benefits and introducing best practices and roadmaps for the industry.
Leap is the leading platform for generating new value from distributed energy resources (DERs) through integration with energy markets. Through its software-only solution, Leap facilitates fast, easy and automated access to high-value grid services revenue streams for the providers of batteries, electric vehicle charging, smart thermostats, HVAC systems and other flexible assets. By aggregating the DERs enrolled on its platform, Leap supplies virtual power plants (VPPs) to balance the grid. Leap enables its partners and their customers to unlock new value streams and help create a more flexible, resilient grid powered by renewable resources.
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