“The cheapest MW is the one never produced.”
"Demand Response" and "Energy Efficiency" are critical components of a sustainable future. More so, the implementation of these two results in measurable and verifiable economic savings. Two recent Carnegie Mellon studies concluded that a 1% shift in peak demand would result in savings of 3.9%, which translates to billions of dollars at the system level. An approximately 10% reduction in peak demand would result in systems savings of between $8 and $28 billion.
"Demand Response" is simply a mechanism to manage electricity consumption in response to supply conditions. Most often, customers are incentivized to reduce their consumption at critical times or in response to market prices. Energy Efficiency means using less power on a continuous basis. Curtailing consumption at peak periods helps utility providers to lower overall plant and capital cost requirements by avoiding the need to build new power plants., Even when peak demand events are rare with few occurrences per year, these plants run at a fraction of their capacity.
Greenlet Technologies offers a low-cost and highly effective solution to both "Demand Response" and "Energy Efficiency". It allows for an easily deployable and cost effective solution for both dispatchable and non-dispatchable small-load programs.
Dispatchable programs that use Greenlet’s suite include automated "Demand Response", control of multiple devices in real-time, capacity bidding and special rate structures. Non-dispatchable programs include, "Time-of-Use" (TOU), "Real-Time-Pricing" (RTP), and "Critical-Peak-Pricing" (CPP).
Participation in "Demand Response" programs is also highly beneficial for residential and small- load commercial customers. Savings on electricity bills are achieved through a combination of incentive payments by utilities, participation in lower rates structures and an overall reduction in energy consumption. Additional environmental benefits include lowering carbon dioxide and other emissions.