LOS ANGELES, May 11, 2021 -- Swell Energy Inc., an advanced energy and grid solutions provider, today announced new opportunities for Southern California Edison (SCE) customers enrolling in its two clean energy virtual power plant (VPP) programs further incentivizing the transition to renewable and reliable power sources. The VPP programs are available to SCE customers in various Orange County, Ventura County and Santa Barbara County neighborhoods who are interested in installing solar powered home batteries, and joining Swell's neighborhood Virtual Power Plants. Swell offers customers home batteries for a low fixed monthly payment and a second home battery at a reduced price when choosing Swell financing and joining Swell's VPP program. With this opportunity, customers and their communities can achieve greater resiliency and benefits from onsite backup power, and help the grid by reducing demand for electricity at key times.
VPPs offer a compelling way for homeowners, business owners and utilities to collectively meet today’s shifting energy needs by unlocking the potential of solar energy stored in an onsite battery. Owners can draw down stored energy when electricity is most expensive and reserve solar energy in case of a power outage. Participants in Swell’s southern California VPP programs further benefit by earning GridRevenue when consuming their stored energy in the evenings, providing much needed relief to the grid during peak times. By using a battery when the utility values it most, homeowners can arbitrage both retail and wholesale energy rates and achieve an accelerated payback on their energy system. Adding a second battery to the system further increases participation levels in the VPP and opportunities for GridRevenue, while simultaneously expanding power security on site. Swell's VPP program began operating earlier this year and is ramping up over the following year, providing immediate value to homeowners, small businesses and the grid.
“In SCE’s service area, our VPPs shift solar power consumption to peak demand periods en masse. By doing so, these programs provide the savings and energy security homeowners and businesses want, while increasing the local grid’s flexibility and resilience,” said Suleman Khan, CEO of Swell Energy. “Swell VPPs ensure homeowners receive the maximum value from their home battery, and that utility VPP sponsors and adopters benefit from a large fleet of strategically placed batteries. Our ongoing energy programs with SCE are great models for the future of our electric grid in general.”
**Orange County VPP Program. **This VPP project is part of SCE’s second Preferred Resources Pilot and will deliver energy to SCE customers during peak demand periods for the next fifteen years.
Santa Barbara County and Ventura County Program. Swell’s VPP program in Santa Barbara County and Ventura County was developed in response to Senate Bill 801, which directed SCE to deploy energy storage to help regions affected by the partial shutdown of the Aliso Canyon Natural Gas Storage Facility. The VPP will help the utility manage load, increasing reliability and replacing grid-stabilizing functions formerly provided by the gas facility. SCE awarded the VPP program as part of SCE’s Aliso Canyon Energy Storage procurement program.
These VPP programs for SCE customers represent two of six such distributed power plant contracts Swell is launching with utilities across various markets through its capital partnership fund. In all, Swell’s existing utility contracts will provide VPP energy services across 15,000 homes and small businesses in the United States.
To learn more about how Swell’s VPP programs and utility partnerships can help your region’s distinct energy needs, and how Santa Barbara and Ventura County residents and local businesses can support a carbon neutral future, visit www.swellenergy.com/805. Orange County residents can visit www.swellenergy.com/OC. To become a Certified Swell partner for the Orange County, Santa Barbara County and Ventura County programs, visit https://www.swellenergy.com/partners.
About Swell Energy Inc.
Swell Energy is creating a greater grid for the greater good. The energy management and smart grid solutions provider is accelerating the mass adoption of distributed clean energy technologies by making it easy for consumers to take control of their energy use, achieve energy security and save costs. The company provides homeowners and businesses with financing and educational resources and partners with trusted local solar and solar+storage companies for seamless, high-quality product installations. By creating a critical mass of dynamic and responsive clean energy resources within utility service areas across the United States, Swell Energy is also delivering resilient virtual power plant networks and grid-balancing services to utilities, which are fundamental to our future, carbon-free, distributed renewable energy system. Learn more at www.swellenergy.com.