In Utah, Soleil Lofts signed a first-of-its-kind deal with Rocky Mountain Power, which can tap the battery as a power source. According to the Wasatch Group, the Utah developer built and manages the apartment, with the arrangement helping the developer save money, helping to save costs.
Waschek executives see the virtual power plant as evidence that the battery is a smart investment for building owners.
“VPP provides an income stream and makes it a more attractive property to rent,” Ryan Peterson, president of the firm’s real estate and investment unit, Washe Guarantee Capital. “One of the reasons we’re looking at renewables and solar is that it reduces operating expenses and increases cash flow, which is a big deal for real estate owners.”
The Soil project comes at the crossroads of several trends: a transition towards cleaner, renewable power; Fast shrinking costs for battery and energy storage, Which dropped nearly 80 percent in the last decadeAccording to the Boston Consulting Group; And a push by developers to reduce their environmental footprint.
Battery energy storage in the United States increased significantly last year, adding 476 MW of storage in the third quarter, a 240 percent increase from the previous quarter, US Energy Storage Monitor.
But it is not necessary to support a fully renewable electricity system. A report from the University of California, Berkeley Change in renewable power The suggestion is that the United States will need 150 gigawatts of storage to achieve 90 percent clean energy grid by 2035.
“We’re at a turning point,” said Mark Dyson, a clean-energy expert at RMI, a Colorado organization focused on sustainability. “Since price points have drastically decreased, especially for batteries, I expect a growing fraction of new homes will incorporate these technologies. Virtual power plants are the cheapest, most valuable thing for the American power system.”