Demand Response Management
Demand Response is the method of curtailing your energy consumption during periods of high stress on the electric grid, and getting paid for using less. Energy providers can help avoid brownouts and blackouts when customers implement demand side energy management to lower their normal capacity. And the energy providers implement programs in order for you to get paid to lower your base energy consumption.
Incentives for Demand Response
Electric power system planners expect increased participation in demand response and energy efficiency programs to decrease peak electric power demand by up to 5% over the next ten years. Demand response and new energy conservation programs work to decrease peak demand from what it would otherwise be absent those programs. Demand response programs enable electric power customers to reduce their demand for power during peak load periods.
In 2020, Demand Response programs saved 1,509,124 (MWh) in energy savings. According to the EIA, customers were offered 987,653,000 for customer incentives in 2020 to take part in Demand Response Programs. Would you like to learn how you can make money to manage your load during peak demand times? We can help.
Efficient Power Tech Can Help You Get Paid for Demand Response
The Efficient Power Tech team will match you to the appropriate Demand Response Program(s) and make sure that you get the most for your demand changes. Efficient Power Tech will help you establish your baseline consumption. When a demand event is issued our team will help you manage your energy consumption in order to balance your operational needs with your capacity changes. You may even qualify to be paid to be on standy.
In the past, Demand Response Programs were only available to the largest clients. Now programs are even available with only a 1kW minimum! It makes sense for your to investigate the benefits of a Demand Response Program for your business. When you combine Demand Response with Distributed Energy Resources, you may find that you are able to implement a grid capacity reduction without changing your overall consumption. Contact us to find out more.
Use eReveal Energy Management Software to measure your energy consumption
Efficient Power Tech’s cloud-based energy management solution, eReveal, can help you mange your demand response plan with:
Monitoring and Alerts: Predictive analytics monitors the grid’s consumption and weather in real-time and predicts when peak load hours are likely to occur. In this event, we alert you through day-ahead and day-of emails, giving you enough time to take action to reduce your demand when its most important.
Energy Procurement Strategies: To ensure full advantage of your eductions when managing your RFP for electricity supply, we can:
- Pass through capacity, rather than hedging for the contract term. When you hedge beyond the capacity period, and the supplier is absorbing the risk of capacity tag and price fluctuations, then you will not be able to realize the reduced capacity payments costs when you have reduced your capacity tag until a new contract is signed
- Negotiate capacity adjustment clauses in the supply contract. If you’re actively reducing demand, but want to hedge capacity for a period longer than 12 months, then negotiate that suppliers will adjust the capacity tag when new tags are released
- If you’re reducing peak load through load shifting strategies such as battery or ice storage, pass through energy costs as well in order to take advantage of the difference between on-peak and off-peak hourly pricing. If you’re contracted under a fully fixed rate, then the only advantage is the peak demand savings, and you’re not realizing the value of the arbitrage between on- and off-peak LMPs
Measurement & Verification: eReveal can measure & verify all of your load capital improvements and operational strategies to ensure your plan is effective.