SolarEdge Launches Its First Battery Virtual Power Plant Supporting Great Britain's National Grid ESO Demand Flexibility Service
MILPITAS, CALIF.--(BUSINESS WIRE)--
SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy technology, today announced the launch of its first Battery Virtual Power Plant supporting Great Britain’s National Grid ESO Demand Flexibility Service (“DFS”). The service is available to thousands of SolarEdge Home Battery owners across Great Britain with eligible smart meters, that are now able to earn financial incentivesutilizing their stored battery energy during DFS peak demand events, which will be used to stabilize the grid.
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New Battery Virtual Power Plant launched within Great Britain’s National Grid ESO Demand Flexibility Service (Photo: Business Wire)
As part of the DFS, energy suppliers have been asking participating customers to reduce their electricity consumption during pre-scheduled demand events. Starting today, SolarEdge Home Battery owners will be able to seamlessly minimize their grid consumption during each event and earn financial incentivesby leveraging their stored battery energy. In addition, battery owners with an eligible export meter can earn even higher financial incentivesby exporting their excess battery energy back into the grid. SolarEdge’s innovative technology will automatically optimize the battery charge and discharge during each demand event, maximizing homeowners’ benefitswhile helping to stabilize the grid.
Meir Adest, Co-Founder and Chief Product Officer at SolarEdge Technologies, commented: “This is a prime example of the transformational impact that battery storage can have in future grid stabilization and how homeowners can play their part. SolarEdge is dedicated to improving the ways energy is generated, stored and consumed and we believe that advances in solar and storage technologies are key to unlocking value at both the local and grid level. Our innovative technology simplifies the participation in demand response programs in a way that is smarter, more intuitive and more profitable for system owners.”
SolarEdge is listed on the approved providers list taking part in the ESO Demand Flexibility Service, here.
SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC-optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, electric vehicle powertrains, and grid services solutions.
SolarEdge is online at www.solaredge.com.
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