SAN FRANCISCO and BOSTON, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Voltus, Inc. ("Voltus"), the leading distributed energy resource (DER) software platform, together with Resideo Technologies, Inc. (NYSE: REZI), a leading global provider of home comfort, energy management, security and life safety solutions, ecobee, and Google Nest, today announced the expansion of their residential smart thermostat demand response program offering to 1.2 million Ameren Illinois customers in more than 1,200 communities in the Midcontinent Independent System Operator (MISO) territory.
In 2022, MISO announced a 1.4 gigawatt capacity shortfall leading to a 50x increase in electricity capacity prices in the 2022/2023 Planning Resource Auction. In addition, the North American Electric Reliability Council’s seasonal reliability reports concluded that MISO was at risk of power outages during extreme weather conditions. To help deliver these critical capacity resources, Voltus will financially incentivize residential energy users to reduce electricity usage during grid emergencies. Resideo Grid Services will intelligently manage the comfort settings of enrolled homes to automatically deliver energy-efficiency savings, while keeping families comfortable. Since the program launched in November, customers from more than 440 Illinois cities have signed up to participate in the program.
“For the first time in Ameren Illinois’ service territory, residential customers are connecting directly to MISO through a third party aggregator - Voltus,” says Dana Guernsey, Voltus’s Chief Product Officer & Co-founder. “We identified a monetization opportunity to bid residential loads into the market and partnered with Resideo to integrate smart thermostats from three leading brand providers: Honeywell Home, Google Nest, and ecobee.”
“Resideo is focused on expanding the benefits of our energy solutions to communities, like Ameren Illinois in MISO, to help ensure the stability of the electric grid that powers the community,” said Phil Theodore, President of Products & Solutions at Resideo. “Our work with Voltus can help the Midwest avert an energy crisis during peak periods of demand and protect what matters most."
In 2022, the companies announced an aggregated residential thermostat program in the PJM Interconnection, the nation’s largest grid operator, that serves part of 13 U.S. states as well as the District of Columbia. Since launching in PJM in 2022, Resideo Grid Services responded to eight grid emergencies helping to prevent three grid emergencies in December and keep the heat on during the holidays.
In MISO, Resideo’s Honeywell Home, ecobee, and Google Nest customers in Ameren Illinois’ service territory can earn a $40 sign-up bonus and $5 per non-test event (assuming participation in at least 50% of the duration of the event) for participating in the Load Modifying Resource/Emergency Load Response programs. Resideo's Honeywell Home® smart thermostat customers can enroll in the demand response program here, ecobee smart thermostat customers can enroll seamlessly through the ecobee mobile app (easy step-by-step here), and Google Nest customers can enroll here.
About Resideo
Resideo is a leading global manufacturer and distributor of technology-driven products and solutions that provide comfort, security and life safety, energy efficiency and control to customers worldwide. Building on a 130-year heritage, Resideo has a presence in more than 150 million homes, with 15 million systems installed in homes each year. We continue to serve more than 110,000 professionals through leading distributors, including our ADI Global Distribution business, which exports to more than 100 countries from nearly 200 stocking locations around the world. For more information about Resideo, please visit www.resideo.com.
Resideo Grid Services is a leader in the energy aggregation market and offers peak demand reduction, automated and behavioral energy efficiency, and time of use energy rate cost optimization program management for utilities and energy retailers. Resideo either manages or participates in 159 utility demand management programs across the United States as well as participating directly in four wholesale energy markets. For more information about Resideo Grid Services, visit: www.resideo.com/us/en/pro/energy-management/.
The Honeywell Home trademark is used under a long-term license to Resideo from Honeywell International Inc.
About Voltus
Voltus is the leading software technology platform connecting over 4 GW of distributed energy resources to electricity markets, delivering less expensive, more reliable, and more sustainable electricity. Our commercial and industrial customers and DER partners generate cash by allowing Voltus to maximize the value of their flexible load, distributed generation, energy storage, energy efficiency, and electric vehicle resources in these markets. To learn more, visit www.voltus.co.
Media contact – Voltus
Mona Khaldi
Press@voltus.co
