Partners with Utilities across the US and
Integrated with Google Home, LG, Rheem, and others to Support the Grid and
Reduce Residential Utility Bills
OAKLAND,
Calif., May 9, 2024 /PRNewswire/ -- Renew Home,
North America's largest
residential virtual power plant (VPP), has launched out of the
combination of Google's Nest Renew service and OhmConnect. The new
company brings together millions of customers across the nation,
helping to stabilize the grid and to reduce home energy costs.
Renew already controls nearly 3GW of electrical energy use, and
is planning to expand to 50GW by 2030 – approximately 25% of the
total VPP growth recently projected by the U.S. Department of
Energy (DOE). DOE projects that by tripling the scale of VPPs, we
could meet 10-20% of peak electricity demand by 2030 – which would
avoid $10 billion in grid costs.
Backed by a $100M investment from
majority owner Sidewalk Infrastructure Partners (SIP), Renew Home
will transform residential energy by enabling millions of homes
across the country to collectively reduce and shift their energy
use.
"The marriage of Nest's innovative approach to managing energy
use in the home with OhmConnect's customer-focused grid services
platform will be transformational," said Renew Home CEO
Ben Brown. "With our
industry-leading partners, Renew Home will be able to coordinate
the home energy use of millions of customers to help catapult us
into a 100% clean energy future."
Renew Home is already working with the Google Home APIs as a
platform provider of integrations to control devices and energy use
in millions of homes. Renew Home also integrates with dozens of
additional devices and appliances in the home - including LG,
Honeywell, SunPower, Sense, and others - and will support demand
response and VPP programs with more than 100 utilities.
"This is a pivotal moment for virtual power plants," said
Alan Machuga, CTO of Rheem. "We are excited to partner with Renew
Home to help customers save money and energy – while supporting the
grid. As a leading manufacturer of HVAC and Water Heating products,
Rheem uniquely brings both
potential for energy savings and energy storage, to which water
heaters play a critical role."
According to the DOE, VPPs are aggregations of distributed
energy resources such as rooftop solar with behind-the-meter
batteries, electric vehicles and chargers, electric water heaters,
smart buildings and their controls, and flexible commercial and
industrial loads that can balance electricity demand and supply and
provide utility-scale and utility-grade grid services like a
traditional power plant.
About Renew Home
Renew Home, North America's
largest residential virtual power plant, revolutionizes residential
energy management by enabling residents to lower utility bills
while stabilizing the energy grid. By harnessing energy reduction
from millions of homes into a cohesive virtual power plant, Renew
Home's impact on the grid is transformational. Collaborating with
industry leaders such as Google Nest, Rheem, LG, Honeywell, SunPower, and Sense
along with over 100 utility partnerships, Renew Home is
spearheading the residential clean energy movement. Renew Home is a
Sidewalk Infrastructure Partners (SIP) company.
More information, visit RenewHome.com; Follow on LinkedIn,
Facebook, and Instagram.
Media Contact
Alexandra Pony
377434@email4pr.com
250.858.0656
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SOURCE Renew Home