Consumer-owned, small-scale energy devices, such as home car chargers, could be the answer for California and Texas as they struggle to meet demand for power during peak times, a top US energy official said.
Networks of solar panels, batteries, electric cars and smart appliances — called virtual power plants — can now be harnessed by utilities to help balance supply and demand, such as during heat waves, when power grids are taxed, said Jigar Shah, who oversees a loan program at the Department of Energy funded with the passage of the Inflation Reduction Act. As much as $100 billion is available for virtual power plants, Shah said.
By tapping into home power networks, which can reduce the need for traditional fossil fuel plants, utilities could save billions, Shah said on the sidelines of the RE+ clean energy conference in Las Vegas.“We think the electric utilities are looking to bury the hatchet and deploy distributed resources,” Shah said, referring to competition between utilities and home solar providers.
Texas and California have resorted to rolling blackouts at times during hot summer evenings when solar power wanes at sunset but demand remains high from air conditioning use. Both states have launched programs that pay owners of home batteries for sending power to the grid during critical times. With peak demand rising and old gas and power plants retiring, the US grid will need to add enough capacity to serve more than 200 gigawatts of demand by 2030, according to a Department of Energy report on virtual power plants that was released Tuesday.
If the country could triple the deployment of virtual power plants to as much as 80 gigawatts, it would help address the expected rise in demand while reducing grid costs by $10 billion a year, according to the report.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This stunning Toronto home used to be home to a movie prop studioWith TIFF well underway, we couldn't help but pay a little homage to the movie industry with today's listing. 126 Sears St. is a converted movie p...
Read more »
Inflation rises, Apple's new devices, UAW strike looms: 3 ThingsThe Consumer Price Index rose in August, with the month-over-month core data coming in hotter than expected. It raises the question about what the Federal Reserve will do about interest rates given its focus on bringing inflation down. Apple (APPL) unveiled the iPhone 15 and Apple Watch series 9, but investors weren't exactly enthused with the new offerings, as China finally says it has not issued any ban on iPhones. The UAW negotiations with the Big Three automakers (F, GM, STLA) are ongoing as a strike deadline looms. Yahoo Finance Live brings you the three stories you need to be watching today.
Read more »
Shuttered Michigan nuclear plant moves closer to reopening under power purchase agreementCOVERT TOWNSHIP, Mich. (AP) — A company seeking to restart a southwestern Michigan nuclear power plant said Tuesday it has taken a major step forward with the signing of a power purchase agreement. Holtec International said a subsidiary, Palisades Energy LLC, signed the deal this week with Wolverine Power Cooperative, a not-for-profit energy provider serving rural communities across Michigan. Under the “multi-decade' agreement, Wolverine agrees to purchase up to two-thirds of the power generated
Read more »
How Tesla's Dojo supercomputer will power the 'Muskonomy'Tesla stock popped this week as Morgan Stanley analyst Adam Jonas talked up the artificial intelligence and ‘Dojo’ supercomputer prospects for the electric vehicle maker. But the Dojo effect will be even bigger, on the so-called “Muskonomy.”
Read more »
Giant gnome unscathed after downed power line sparks fires on Saanich farmA power line came down when it was clipped by a falling cottonwood tree at Galey Farms on Monday evening, sparking small, scattered fires
Read more »