Move is further step in continuing VEC innovation
Vermont Business Magazine Today Vermont Electric Co-operative announced the public launch of a home battery storage incentive program designed to save the co-op on power supply costs and support member resiliency.
“We’re really excited to be offering this new partnership option for our members,” said Rebecca Towne, VEC’s Chief Executive Officer. “Home battery systems can increase members’ resilience, and when they are willing to share stored energy in their batteries with VEC when they don’t need it, it can help the co-op as a whole save money,” she said. “This program is one more way that VEC is joining forces with our members to participate in the evolution of the grid.”
With several flexible load initiatives underway, including a water heater partnership with Burlington-based Packetized Energy, and incentives for off-peak electric vehicle charging, VEC continues to deploy innovative solutions in an effort to save the co-op money, add resilience, and manage the integration of cleaner power supplies that are coming onto the grid.
VEC member Steve Peery of Bolton recently enrolled a home battery in VEC’s program.
“I’d initially planned to sign up just because I thought think it is the right thing to do to support my community, lower our electricity cost, and help the environment,” he said. “Then discovering that it includes a substantial monthly credit to my electric bill made the program even more inviting.”
Under the program, members who are willing to allow VEC to tap their home battery a limited number of times per year when the co-op is expecting peak demand receive a monthly bill credit or combination of an upfront payment and bill credits.
Incentive amounts will be:
- Monthly bill credit of $6.40 per kilowatt (kW), OR
- Upfront payment of $268 per kW and monthly bill credit of $3.20 per kW
For example, a member with a 5-kW battery would have the following options: a $32/month bill credit or an upfront payment of $1,340 and a $16/month bill credit.
Battery types eligible for the program at this time include Generac PWRcell, Tesla Powerwall and Sonnen. Other batteries may be added in the future.
Members who participate in the program will be notified ahead of time before VEC draws from their battery. In no case will VEC will discharge the battery below 20 percent of its capacity, unless the member sets a deeper discharge limit. In addition, VEC will make every effort to avoid drawing down batteries before a major weather event that could cause outages.
You can find out more on VEC’s website here: https://vermontelectric.coop/flexible-load
Learn about VEC’s culture of innovation, including the co-op’s battery storage initiatives, in our video here: https://vermontelectric.coop/flexible-load
About Vermont Electric Cooperative
Vermont Electric Cooperative (VEC), established in 1938, is a non-profit, member-owned electric distribution utility that provides safe, affordable, and reliable electric service to approximately 32,000 members in 75 communities in northern Vermont. Committed to a 100 percent carbon-free power supply by 2023, VEC is nationally recognized for innovative and advanced use of technology. VEC is the largest locally-owned electric distribution utility in Vermont. www.vermontelectric.coop
Source: Johnson, Vt – Vermont Electric Co-operative 10.4.2021