Virtual Power Plant Market Report Recently Released by Analyst Firm Wood Mackenzie Also Highlights CPower's Leadership in the Midwest
BALTIMORE, March 9, 2023 /PRNewswire/ -- CPower Energy ("CPower"), the national leader in unlocking the value of customer Distributed Energy Resources (DERs), today announced its recognition as the national leader in overall flexible capacity under management in Wood Mackenzie's most recent Virtual Power Plant (VPP) Market report with 6.3 GW of capacity at more than 17,000 sites across the U.S. CPower forms VPPs by aggregating customer-owned DERs to provide essential grid services such as capacity, economic and ancillary services. Unlike some companies that just operate VPPs, CPower is one of just six companies highlighted in the report that supports the full implementation of VPPs by serving as a market interface for its customers in addition to operating VPPs using its own platform to manage and dispatch DERs, without the DER Owner or Operator needing to invest in capabilities to integrate into wholesale markets or develop contracts with utilities.
CPower is also recognized in the report for its leadership in midwestern states where energy markets are managed by the Midcontinent Independent System Operator (MISO). The Midwest lags behind other regions in VPP implementation due in large part to regulatory barriers, but benefits significantly from the opportunities that are available for DERs to help ensure reliability as the region faces energy capacity shortfalls. CPower is one of just two companies currently using DERs to provide grid services in MISO, and is actively working to expand the utilization of DERs in the region by helping regulators and utilities in MISO understand how to best incorporate DERs into existing regulatory frameworks.
"Wood Mackenzie's Virtual Power Plant Market report has confirmed CPower's position as the national leader in flexible capacity under management. We are especially proud to be recognized for our leadership in MISO, a region that is in particular need of the flexible capacity and other grid services that a Customer-Powered Grid can provide," said John Horton, President and CEO, CPower. "As the proliferation of grid-interactive technologies grows, so does the potential for CPower to enable the grid to utilize DERs to address a growing range of grid needs more efficiently."
"CPower stands out as a leader in the VPP space both in terms of capacity under management and its ability to support the full VPP value chain from enrollment to dispatch," said Ben Hertz-Shargel, Global Head of Grid Edge, Wood Mackenzie. "The company's presence in emerging markets such as MISO is also indicative of the ways in which CPower is pushing the ball forward in terms of DER utilization."
Wood Mackenzie's VPP Market report is based on a database of more than 500 VPP projects in the U.S. and Canada. The report states, "Virtual power plants (VPPs) are a recent market construct for which there is much discussion but little data," and stands out as one of the most comprehensive reports to date on the current state of VPPs. The full report is available for purchase via Wood Mackenzie.
About CPower Energy
CPower Energy is the national leader of grid balancing and reliability solutions, creating a Customer-Powered Grid™ that will enable a flexible, clean and dependable energy future. With 6.3 GW of capacity at more than 17,000 sites across the U.S., we unlock the full value of distributed energy resources to strengthen the grid when and where it's needed most. CPower is based in Baltimore, Maryland and is owned by LS Power, a development, investment, and operating company focused on the power and energy infrastructure sector. For more information, visit: www.cpowerenergymanagement.com.
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SOURCE CPower Energy Management