Here's How California is Helping to "Power Up" the Microgrid Boom
- Jul 29, 2020 9:17 am GMTJul 29, 2020 3:07 pm GMT
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California is a monumental catalyst for microgrid technology. In fact, just over the last few days, the California Public Utilities Commission released a new proposal calling for a new microgrid program, special tariffs for microgrids, and other ideas to help overcome the barriers to microgrid development, notes Microgrid Knowledge. “The pilot program would focus on 15 community microgrids built within the service territories of Pacific Gas & Electric, San Diego Gas & Electric and Southern California Edison. Ratepayers from the three utilities would fund the microgrids, which would be designed to serve vulnerable populations, particularly low-income areas likely to face power outages. The proposal caps funding for each community microgrid at $15 million.” Some of the top companies to watch on such microgrid news are CleanSpark, Inc. (NASDAQ:CLSK), Tesla Inc. (NASDAQ:TSLA), General Electric Company (NYSE:GE), Enphase Energy Inc. (NASDAQ:ENPH), and EnerSys (NYSE:ENS).
CleanSpark, Inc. (NASDAQ:CLSK) BREAKING NEWS: CleanSpark, Inc., a diversified software and services company, today announced it has been awarded a contract to provide controls and storage for a commercial microgrid located in Southern California. CleanSpark expects to realize in excess of $300,000 in initial revenues from the project as well as a long-term software subscription. This microgrid project is designed to provide economic optimization and cost avoidance, as well as energy resiliency for the facility. CleanSpark’s patented mPulse controls platform will manage a Battery Energy Storage System paired photovoltaic rooftop solar panels.
Zach Bradford, CEO of CleanSpark said, “Our mPulse controller will optimally manage all of the distributed energy assets to ensure the customer will realize the strongest ROI while maintaining resiliency in the event of a grid disruption. This project requires a particularly short execution timeline due to the client’s urgent needs. CleanSpark’s flexible software architecture and ease of deployment enabled us to commit to the required timelines. The ability to meet this rapid deployment schedule is yet another example of how CleanSpark’s disruptive approach to energy management is a significant competitive advantage.”
Other related developments from around the markets include:
Tesla Inc. (NASDAQ:TSLA) recently released earnings. According to the company, “Our business has shown strong resilience during these unprecedented times. Despite the closure of our main factory in Fremont for nearly half the quarter, we posted our fourth sequential GAAP profit in Q2 2020, while generating positive free cash flow of $418M. Our profit improved sequentially due to fundamental operational improvements. Additionally, we experienced costs associated with factory shutdowns, which were offset by actions taken during the quarter to reduce expenses. For the trailing 12 months, our GAAP operating margin reached nearly 5%. We expect our operating margin will continue to grow over time, ultimately reaching industry-leading levels. We believe the progress we made in the first half of this year has positioned us for a successful second half of 2020. Production output of our existing facilities continues to improve to meet demand, and we are adding more capacity. Later this year, we will be building three factories on three continents simultaneously.
General Electric Company (NYSE:GE) and Uniper have signed an agreement aiming at a long-term collaboration on the decarbonization of Uniper's gas-fired power plants and natural gas storage facilities. GE’s Gas Power business and Uniper will explore, assess, and develop technology options for decarbonization — GE’s first fleet-wide decarbonization program signed with a major power producer. This agreement — signed in June 2020 — aims at producing a detailed decarbonization roadmap by a joint working group composed of both GE and Uniper representatives by early 2021. This roadmap is to develop an assessment of potential upgrades and R&D programs needed to drive decarbonization, including increasing the use of emissions-friendly hydrogen in GE gas turbines and compressors in Uniper's power plants and gas storage facilities across Europe.
Enphase Energy Inc. (NASDAQ:ENPH) a global energy technology company and the world's leading supplier of solar microinverters, today announced that REA Global, a multi-award winning smart building design, construction, and solar energy solutions provider, is pairing Enphase IQ 7+™ microinverters with its proprietary high efficiency, high-density cell solar modules. The solution maximizes performance to provide more solar power production from a smaller space for both residential and commercial customers across Australia.
EnerSys (NYSE:ENS) the global leader in stored energy solutions for industrial applications will host a conference call to discuss the Company’s first quarter of fiscal 2021 financial results and to provide an overview of the business. The call will conclude with a question and answer session. The call, scheduled for Thursday, August 13, 2020 beginning at 9:00 a.m. Eastern Time, will be hosted by David M. Shaffer, Chief Executive Officer, and Michael J. Schmidtlein, Chief Financial Officer. A live webcast of the conference call will be available on the Company’s website at http://www.enersys.com under the "Investor Relations" link. Presentation materials to be used in conjunction with the conference call will become available under the aforementioned link the evening before the conference call. There will be a free download of a compatible media player on the company’s website at http://www.enersys.com.
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