1,800 Ice Bears to reduce power consumption during peak periods
SANTA BARBARA, Calif., July 7, 2015 - NRG Energy, Inc. (NYSE:NRG), a leader
leading provider of distributed thermal energy storage for utilities, have
partnered to help reduce California's peak energy demand through an
innovative energy storage solution.
NRG and Ice Energy will meet the recently awarded 20 year long-term
contracts to provide 25.6 megawatts of behind-the-meter energy storage using
Ice Energy's proprietary Ice Bear technology for Southern California Edison
(SCE). NRG and Ice Energy will deliver the peak energy reductions associated
with these contracts. Financial terms of the agreement were not disclosed.
"As one of California's largest providers of renewable and traditional
energy generation as well as electric vehicle fast charging solutions,
energy storage is a natural next step for NRG to help meet the state's
energy needs," said John Chillemi, President of NRG Energy's West Region.
"We look forward to combining our experience in delivering customer-driven
clean energy solutions with Ice Energy and their innovative technology to
provide clean and reliable distributed energy storage products to this
Subject to final approval from the California Public Utilities Commission,
approximately 1,800 Ice Bear units will be installed in Orange County
beginning in early 2016. Attaching to one or more standard 5-20 ton rooftop
commercial AC units, the Ice Bear provides a unique solution to the problem
of peak load management, a key part of creating power grids which are more
efficient, reliable, and effectively integrate renewables. The Ice Bears
freeze ice at night when demand for power is low and capacity is abundant,
and then use stored ice during the day to provide cooling instead of
power-intensive AC compressors. Each Ice Bear can reduce harmful CO2
emissions by up to four tons per year.
"Aligning with NRG makes perfect sense as both companies share a common goal
of helping California utilities and their customers, as well as businesses
build a sustainable future with clean, affordable and reliable energy," said
Mike Hopkins, CEO of Ice Energy. "Energy storage, particularly the
distributed and efficient storage capacity provided by our Ice Bears,
reduces reliance on fossil fuels and helps better integrate renewable energy
sources into a smarter electric grid."
Including the 178 MW of demand response and energy efficiency products
awarded to NRG in SCE's recent RFO, this arrangement will bring NRG's total
commitment to California's growing Preferred Resources market to over 200
Almost 1,000 Ice Bear units are already installed in more than 40 different
utility service territories nationwide, surpassing 27 million hours of
NRG is leading a customer-driven change in the U.S. energy industry by
delivering cleaner and smarter energy choices, while building on the
strength of the nation's largest and most diverse competitive power
portfolio. A Fortune 200 company, we create value through reliable and
efficient conventional generation while driving innovation in solar and
renewable power, electric vehicle ecosystems, carbon capture technology and
customer-centric energy solutions. Our retail electricity providers serve
almost 3 million residential and commercial customers throughout the
country. More information is available at nrg.com. Connect with NRG Energy
on Facebook and follow us on Twitter @nrgenergy.
About Ice Energy
Ice Energy delivers cost-effective, reliable and highly efficient
distributed energy storage and smart grid solutions to utilities using
direct-expansion AC technology. The company's smart grid platform integrates
distributed energy storage technology with an advanced software
infrastructure and intelligent two-way control to provide utilities with a
fully dispatchable grid asset that can be rapidly deployed at any scale. To
learn more about Ice Energy, please visit www.ice-energy.com.