- Ford and Resideo are exploring new areas of value for customers
who own an F-150 Lightning and a Resideo smart thermostat to help
enable potential monthly electric bill savings, increased comfort
and more efficient home energy use
- This first-of-its-kind collaboration between Ford and Resideo
builds on Ford's Intelligent Backup Power technology to explore
customer benefits never before possible with gas-powered vehicles
through pairing a smart electric vehicle (EV) directly with smart
home solutions
- The simulation project will explore how electric vehicles and
homes can share the same EV battery energy source and smartly
interact with each other for the benefit of the customer and the
electric grid
DEARBORN, Mich. and SCOTTSDALE, Ariz., Dec. 7, 2023
/PRNewswire/ -- Today, Ford and Resideo Technologies, Inc.
(NYSE: REZI) announced a joint simulation project to explore
vehicle-to-home (V2H) energy management called the "EV-Home Power
Partnership," designed to explore the potential of electric vehicle
batteries to support optimal home energy management. The project
will explore, test and quantify the customer benefits of pairing
bi-directional EV charging with a Resideo smart thermostat to help
customers potentially save money on monthly electric bills, reduce
strain on the U.S. electric grid and enable use of cleaner energy,
while helping ensure homeowner comfort.
Ford, the first in the U.S. to introduce a full-size electric
truck capable of bi-directional charging for the home in
North America, and Resideo, a
global provider of solutions for home comfort, First Alert security
and safety, and leading provider of residential load management
programs for utilities, are exploring home energy management value
for customers never before possible with internal combustion engine
vehicles.
The F-150 Lightning already has the capability to power the home
in the event of an outage through available Intelligent Backup
Power. The EV Home Power Partnership project will simulate the
integration of Resideo's smart thermostats with the energy stored
in the battery on the F-150 Lightning, which can be smartly
coordinated to help power the home's heating and cooling
systems.
The project is designed to assess how coordination of
bi-directional EV and a smart thermostat can reduce the overall
energy needed by the home during times of electric grid stress
while minimizing energy usage during the most expensive hours each
day by automating the home to match a consumers' Time-of-Use (TOU)
electricity rate. Additionally, it also will assess how the
coordination between the battery and smart thermostat can enable a
system to leverage cleaner energy from the grid if renewable energy
is readily available.
"Driving electric is unlocking an entirely new world of personal
energy management that could not only save our customers time and
money, but also help support a more sustainable energy grid," said
Bill Crider, head of global charging
and energy services, Ford Motor Company. "Successful
vehicle-to-home energy management solutions would give Ford EV
drivers as well as utilities and power companies the confidence to
accelerate future vehicle-to-grid services never-before thought
possible with traditional vehicles."
Electric vehicle battery storage can play an integral role in
helping stabilize the electric grid, allowing homeowners to remain
comfortable during power outages or other energy events as well as
save customers money by utilizing stored energy during peak demand,
when energy costs tend to be higher. Together, Ford and Resideo are
envisioning the possibilities when electric vehicles and homes can
share the same energy source and can smartly interact with each
other for the benefit of the customer and the electric grid.
"The two largest contributors to an individual's carbon-emission
footprint are usually their car and the heating and cooling of
their home," said Dana Huth, EVP and
Chief Revenue Officer, Resideo. "With this EV Power Partnership
project, we can discover new ways for F-150 Lightning owners to
utilize their EV battery to power their home's heating and cooling
and to help build a home energy management strategy that can
optimize their home's comfort and energy use. By creating
energy-efficient ecosystems between trusted global brands, our
Resideo Grid Services team can help ensure a more resilient
electric grid for the community, prepare it for more renewables and
deliver energy savings for consumers."
Project work has begun and is expected to be completed in the
first half of 2024.
About Ford Motor Company
Ford Motor Company
(NYSE: F) is a global company based in Dearborn, Michigan, committed to helping build
a better world, where every person is free to move and pursue their
dreams. The company's Ford+ plan for growth and value
creation combines existing strengths, new capabilities and
always-on relationships with customers to enrich experiences for
customers and deepen their loyalty. Ford develops and
delivers innovative, must-have Ford trucks, sport utility vehicles,
commercial vans and cars and Lincoln luxury vehicles, along with connected
services. The company does that through three
customer-centered business segments: Ford Blue, engineering
iconic gas-powered and hybrid vehicles; Ford Model e, inventing
breakthrough EVs along with embedded software that defines
always-on digital experiences for all customers; and Ford Pro,
helping commercial customers transform and expand their businesses
with vehicles and services tailored to their needs.
Additionally, Ford is pursuing mobility solutions through Ford
Next, and provides financial services through Ford Motor Credit
Company. Ford employs about 173,000 people worldwide.
More information about the company and its products and services is
available at corporate.ford.com.
About Resideo
Resideo is a leading global
manufacturer and developer of technology-driven products and
components that provide critical comfort, energy management, and
safety and security solutions to over 150 million homes
globally. Resideo's trusted First Alert® brand
delivers safety and security solutions to consumers and
professionals. With proven expertise for more than a century, the
company's Honeywell Home smart thermostats help balance indoor air
quality and offer energy savings. For more information about
Resideo's smart solutions and services, visit
Resideo.com.
About Resideo Grid Services
Resideo Grid Services is a leader in the energy aggregation
market and offers peak demand reduction, automated and behavioral
energy efficiency, and time-of-use energy rate cost optimization
program management for utilities and energy retailers. Resideo
either manages or participates in 256 U.S. utility demand
management programs and participates directly in four wholesale
energy markets. For more information about Resideo Grid Services,
visit Resideo.com/us/en/pro/energy-management.
Media Contacts:
Emma Bergg
(Ford)
(313) 418-6590
ebergg@ford.com
Sarah Reckard
(Resideo)
Sarah.Reckard@resideo.com
Forward Looking Statements of Resideo Technologies
This release contains "forward-looking statements" of
Resideo. All statements, other than statements of fact, that
address activities, events or developments that Resideo or its
management intend, expect, project, believe or anticipate will or
may occur in the future are forward-looking statements. Such
statements involve known and unknown risks and uncertainties, which
may cause the actual results or performance of Resideo to differ
materially from such forward-looking statements. Such risks and
uncertainties include, but are not limited to, the ability to
successfully and timely complete the simulation project and other
risks described in our Annual Report on Form10-K for the year ended
December 31, 2022. Forward-looking
statements are not guarantees of future performance, and actual
results, developments, and business decisions may differ from those
envisaged by our forward-looking statements. Except as required by
law, we undertake no obligation to update such statements to
reflect events or circumstances arising after the date of this
press release and we caution investors not to place undue reliance
on any such forward-looking statements.
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SOURCE Resideo