More than a dozen businesses in California and New Mexico are poised to save a combined $3.6 million on their energy bills over the next ten years with systems from global energy storage provider NantEnergy. These companies, which all have selected NantEnergy SmartStorage® systems in the first six months of the year, will use the systems to replace utility-provided power with emissions-free renewable energy at times of peak demand. The systems also will provide them with a reliable source of backup power in an era of increasing — and increasingly lengthy — power outages.
Paired with solar panels, NantEnergy’s storage systems and advanced battery technology give commercial and industrial (C&I) customers a reliable, independent source of clean energy—whether at peak demand times when utility prices are highest or as backup power during grid outages. In many cases, the reduction in peak demand usage is sufficient to allow customers to qualify for a lower rate structure from the utility, saving even more.
“NantEnergy is committed to providing energy management solutions that help businesses meet their corporate sustainability goals and in turn make a significant contribution toward local and state clean energy goals,” said NantEnergy Chairman Dr. Patrick Soon-Shiong. “Every hour that C&I customers enjoy substantial energy cost savings in this era of skyrocketing rates, they also will reduce the greenhouse gas emissions that threaten the environment and the global economy.”
Demand charges in California have increased by as much as 64% since 2014, and these charges can represent more than 50% of a company’s monthly energy bill.1 What’s more, California experienced more outages in 2017 than any other state (430+), with outages lasting an average of 117 minutes.2
As these charges have increased, however, so too have grid outages, in both frequency and duration; these downtimes cost U.S. businesses billions each year. Much of the increase is due to the higher frequency of damaging severe weather events driven by climate change, making backup power vital for business customers.
“Our SmartStorage systems address both rising energy costs and increasingly frequent grid disruptions,” said Carl Mansfield, NantEnergy VP of System Solutions. “With our systems, companies can manage demand charges, shift solar energy to more valuable times of day, and gain reliable backup power fueled by renewable sources.”