Generac's program will focus on enhancing grid
flexibility and improving the resilience of the power system
against growing threats of extreme weather and climate
change
WAUKESHA, Wis., Oct. 27,
2023 /PRNewswire/ -- Generac Grid Services, part of
Generac Power Systems, Inc., (NYSE: GNRC) a leading global designer
and manufacturer of energy technology solutions and other power
products, announced the company has been selected for negotiations
by the U.S. Department of Energy (DOE) to receive a $50 Million grant to enhance the U.S. power
grid's ability to deliver affordable, clean energy to lower income
homeowners in Massachusetts.
Funding from this grant would be used to install Generac's suite
of whole-home energy solutions in homes across the state, including
behind-the-meter wi-fi thermostats and batteries, and optimize the
use of electric heat pumps in combination with batteries and
thermostats to improve reliability for residents.
The project will demonstrate Generac's capacity to integrate
multiple energy technologies to support residents, while providing
valuable grid services to benefit both the grid and the residents.
It will exhibit how efficient building electrification is possible
while minimizing system overloads, reliability issues, and the need
for infrastructure upgrades. Generac will utilize its advanced
Concerto technology to aggregate and manage the energy assets as a
virtual power plant (VPP).
"We'd like to thank the DOE for this opportunity and look
forward to working with the state and our partners to lead the
evolution to more resilient, efficient and sustainable energy
solutions for the residents of Massachusetts," said Aaron Jagdfeld, president and chief executive
officer of Generac.
This project will engage local community leaders to bring
benefits such as increased resiliency and job opportunities for
communities with projects and will develop a replicable model that
can be scaled to communities across the country. Along with
providing reliability and economic benefits, the project will
support Massachusetts'
decarbonization and GHG reduction goals.
The funds are part of the federal Grid Resilience and
Innovation Partnerships (GRIP) Program, which seeks to enhance
grid flexibility and improve the resilience of the power system
against growing threats of extreme weather and climate
change. Funded through the Bipartisan Infrastructure Law and
administered by DOE's Grid Deployment Office, the GRIP
program leverages federal, state and private
investments to ensure that communities across the nation have
a reliable grid that is prepared for extreme weather
while also delivering affordable, clean energy and
creating robust local opportunities
for economic investment and jobs. The state of
Massachusetts, electric utilities
and energy efficiency program managers in the state will play a
critical role in this project by providing incentives for electric
heat pump installations through the MassSaves program.
Generac is partnering with leading Massachusetts and national organizations to
execute the program, including:
- Interstate Renewable Energy Council (IREC)
- Fraunhofer USA, Building
Energy Systems
- Action for Boston Community Development (ABCD) and the energy
efficiency program administrators
Generac is also collaborating with the Massachusetts Clean
Energy Center and utilities across the state.
We expect the first battery deployments to begin in late 2024 or
early 2025. To learn more, visit Generac and the Grid Deployment
Office's website.
About Generac
Generac Power Systems, Inc. (NYSE: GNRC)
is a leading energy technology company that provides advanced power
grid software solutions, backup and prime power systems for home
and industrial applications, solar + battery storage solutions,
virtual power plant platforms and engine- and battery-powered tools
and equipment. Founded in 1959, Generac introduced the first
affordable backup generator and later created the category of
automatic home standby generator. The company is committed to
sustainable, cleaner energy products poised to revolutionize the
21st century electrical grid.
Media Contact: Stephanie
Rodgers
Stephanie.Rodgers@Generac.com
Phone: 262.544.4811 Ext. 4456
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SOURCE Generac Power Systems, Inc.