PHILADELPHIA--(BUSINESS WIRE)--Viridity Energy, a smart grid technology company leading the next generation of distributed energy resource management, today announced a partnership with Thomas Jefferson University and Thomas Jefferson University Hospitals (Jefferson) to develop and implement a project aimed at maximizing the economic and environmental value of its energy resources. The two have signed a letter of intent to develop a large-scale energy storage project that will allow Jefferson to strategically manage its on-site and renewable energy resources through Viridity’s dynamic load control optimization system so that electricity at or near a Jefferson site can be stored for use when it best serves Jefferson’s operational needs and economic opportunities. It is hoped that the system will become a replicable model for other hospitals within the Jefferson network as well as throughout the region and country.
“Philadelphia is on its way to having one of the first grid-scale urban energy storage systems in the U.S., making it a leader and a model that others will want to emulate,” said Audrey Zibelman, President and CEO, Viridity Energy. “We are proud to partner with Jefferson as they are showing true vision in pursuing a new distributed generation resource within downtown Philadelphia that will contribute to grid reliability and carbon reduction. Large hospitals and research oriented academic campuses are by nature some of the biggest energy users out there, which offers up a host of opportunities for savvy administrators to save huge sums by managing their resources more strategically.”
Jefferson recently acquired one-third of the electricity supply from the 102 megawatt Locust Ridge II wind power project developed by Iberdrola Renewables and located in Schuylkill County, PA. Jefferson has been seeking ways to optimize this intermittent resource and maximize the value of wind energy, as its output will vary in ways that will not match variations in either Jefferson’s electricity usage or in wholesale power prices.
“We are pleased to take the next step in reducing the environmental footprint of Jefferson Hospitals and continuing to be an institutional leader in Philadelphia,” said Ron Bowlan, VP and Chief Facilities Officer at Jefferson. “Our newly acquired wind resources provide a vast amount of clean energy to help power our facilities. We are excited about bringing Viridity Energy on board to help us optimize this intermittent resource and to help ensure we are most efficient between our generating assets and energy consumption.”
The development enhances the potential for Jefferson’s Center City Campus to become a key building block in a potential Center City microgrid that can help reduce the risk and cost of power outages in the heart of downtown Philadelphia, increase the use of clean local energy resources, protect against volatile electricity prices, and create environmental and economic development benefits for the city and region.
Viridity Energy is already working with other institutional leaders in the region, such as Drexel University and SEPTA on energy optimization projects and is in discussion with the Center City District about how to include many downtown commercial buildings in a larger local grid. Viridity Energy has also partnered with the University of California, San Diego to optimize its distributed resources, such as photovoltaics, with battery and chilled water storage, dispatchable generation, such as cogeneration and gas turbines, and demand side management capabilities to transform its portfolio of buildings into a unified, dispatchable energy asset.
About Viridity Energy
Viridity Energy is making the next generation of the smart grid a reality by providing large energy consumers with powerful tools to increase energy efficiency and decrease energy costs. Viridity Energy maximizes the economic and environmental benefits that clients can achieve through dynamically optimized integration and management of their load, storage and supply resources. The company’s unique and flexible VPower™ platform solution enables customers to dynamically shift and balance energy load, integrate advanced energy technologies and convert existing energy investments into lucrative new revenue streams. Viridity Energy helps organizations achieve sustainability goals and contribute to the greater good by stabilizing energy price fluctuations. Headquartered in Conshohocken, Pennsylvania, Viridity Energy was founded in 2008 by former executives of PJM Interconnection. For more information, visit www.viridityenergy.com.