GCC: Electrify America invests $1.3M in SMUD Energy StorageShares program

Electrify America is investing $1.3 million in the Energy StorageShares program developed by the Sacramento Municipal Utility District (SMUD). The investment will help Electrify America reduce its overall energy-related costs and lower the company’s impact on Sacramento’s electrical grid. . . .

Electrify America will purchase an interest in an energy storage program with the utility company. This will help reduce Electrify America’s demand charges and increase the overall grid benefit of its energy storage. Demand charges are presently the largest operating cost barrier to public EV infrastructure deployment, representing up to 80% of a given electricity bill.

The program incentivizes placement of energy storage in grid-stressed locations in Sacramento while providing Electrify America with potential reductions in demand charges for its SMUD service territory-located sites. SMUD plans to site the utility battery in a location where significant load growth is expected over the next five years.

• The Energy StorageShares program developed by SMUD offers an innovative approach to invest in the electrical grid here in Sacramento and lowering our costs in lieu of installing individual battery storage systems at each of our 12 electric vehicle charging stations powered by SMUD.
  
  This is a win-win opportunity benefiting all parties involved and a great example of how utilities and the private market can work together to further the deployment of EV infrastructure. Plus, this further supports our Green City investment in the Sac-to-Zero program of an EV infrastructure, zero-emissions car sharing, electric buses and shuttles.
  
  —Robert Barrosa, director of utility strategy and operations at Electrify America

Under this agreement, Electrify America will receive recurring credits for the demand reduction needs at the company’s 12 electric vehicle charging stations powered by SMUD in the Sacramento area. . . .

Click to expand...