Manhattan High Rise Ushers in the Next Energy Revolution with Joule.System™ installation
New York City, New York (October 3, 2012) – Today in New York City, Glenwood Management reveals Manhattan's first battery-based, intelligent energy storage system providing 225 kilowatts (kW) of power with 2 megawatt hours (MWh) of stored energy capacity to a New York City high rise. The Joule.System™ designed by Demand Energy Networks, Inc. is located at Glenwood's flagship property, Barclay Tower, a 58-story luxury residential high rise located at 10 Barclay Street near the new World Trade Center, New York.
Glenwood's installation of Demand Energy's Joule.System™ is significant because it has the ability to radically alter the way electricity is delivered. It ushers in a new design architecture for city electrical grids, allowing them to become smarter, more adaptable, and operate more efficiently.
Nearly every industry establishes inventories that allow product delivery and consumption to be optimized. Intelligent energy storage is an emerging technology that gives the electric power industry and electricity end-users the means to inventory electricity. The Joule.System™ is intelligent energy storage that is uniquely positioned to dramatically alter the electricity supply chain.
Since the days of Edison, Tesla, and Westinghouse, and starting on Pearl Street over 100 years ago in lower Manhattan, electricity has flowed through the grid in one direction - centrally generated, transmitted long distances, then distributed within cities to customers. But since then, the world's demand for energy has changed. We have become more dynamic in terms of where, when and how we consume energy. We want it to come from renewable sources. We want to be more efficient with what we already have.
These changes in both supply and demand present a new set of challenges. Our grid infrastructure is aging. It lacks intelligence, and is generally inflexible in handling the growing demands of consumers in a rapidly accelerating electronic age. Energy generated from renewable sources is difficult to integrate since it isn't reliable and doesn't generate when we need it. The adoption of intelligent energy storage as part of the electricity supply chain solves many of these challenges.
Large commercial electricity users like Glenwood are paving the way for broad acceptance of this technology. Yet adoption by utilities is slow. In fairness to utility operators, these new challenges require them to think differently and they are regulated in a way that provides them little incentive to deviate from their usual toolkit. Some utilities only control part of the supply chain and are limited to the kinds of solutions they can deploy. In the post-deregulation era, with so many energy providers, regulatory agencies, and public benefit organizations involved, the complexity of the electrical system leaves little room for new technology adoption that will allow for a better overall system of energy supply and delivery that can help keep rates down for the benefit of end-user customers.
Enter Glenwood Management.
Energy reliability is a critical issue for Glenwood. For efficient building operations and for safety, the company's commitment to enhancing reliability was the motivation behind their purchase of the Joule.System™.
The 225 kW / 2 MWh installation follows Glenwood's purchase of two trial-sized systems installed in October 2011 at two locations – Barclay Tower and The Caldwell. Positive results in demand response and building grid stability from both systems led to their decision in April to move toward deploying the larger system at Barclay Tower.
An anticipated, but surprisingly dramatic additional benefit demonstrated in the two trial systems is the capability the Joule.System™ lends to managing cost volatility in New York's incentive electricity rate structures (the day ahead market).The system stores energy during off-peak periods when rates are low, and then releases the energy during peak periods when prices can be very high. It works as a physical hedge against volatility risk during periods of high demand, effectively capping costs by using energy from storage at times when rates have the potential to skyrocket.
Demand Energy manages its systems for building owners as a cohesive network based on market conditions. The network management and control software of the Joule.System™ recognizes price signals and follows building load profiles. The system intelligently monitors usage to maximize energy savings to deliver a positive return.
Another motivator behind the system deployment for Glenwood is their corporate green initiative to buy power generated by wind and solar. Glenwood is committed to advancing ideas and methods to help achieve sustainability in New York City. One of its goals is to create 'net-zero' buildings; buildings that produce no carbon emissions. Glenwood's investment in energy storage extends beyond the financial reward. It's also serious about advancing better resource management for a more livable community.
Installed in July and August, Joule.System™ operations testing commenced in September. Within the first two months of operation, the economic benefits of the system will be further evaluated. Glenwood envisions rolling out a fleet of these larger systems to some, or potentially all of its properties over time.
Demand Energy envisions deploying these larger systems for Glenwood and other customers in buildings throughout Manhattan. The systems become linked together as part of a large scalable array of systems; a network akin to building a power plant throughout the heart of the city that produces zero emissions, located on non-income producing real estate.
"The reality is we need to be aggressive in finding ways to be smarter about the future of energy," said Josh London, VP of Glenwood Management. "Everyone I know thinks about green energy; about how they can create a cleaner future. Our work with Demand Energy lets us take advantage of renewables and lowers our electricity costs as well. It's a win at every level."
"We're looking forward to the hard data in terms of energy use and savings," said Dave Curry, CEO of Demand Energy. "Between ConEd selling power at reduced off-peak prices, and the ability to store renewable electricity, we're expecting big things that include bringing balance to power grids for the future of energy delivery worldwide."
ABOUT DEMAND ENERGY NETWORKS, INC.
Demand Energy is an energy solutions company based in Liberty Lake, Washington. The company is led by a team of seasoned telecommunications and utility industry veterans with experience growing mature companies to great success, and bringing start-ups to fast growth and beyond. Founded in 2008 with a rich IP portfolio, Demand Energy provides technology to energy providers enabling them to manage and deliver electricity to a degree never before possible.
Glenwood is one of New York City's largest owners and builders of luxury rental apartments. The full-service Manhattan real estate organization has earned a reputation as a leader in its field through the continuity established as owner, builder and manager of all of its properties. Prestigious locations, innovative design, superior construction, outstanding views, elegant lobbies and impeccable services are benchmark qualities that have become synonymous with every Glenwood residence. Glenwood has provided personalized care and attention to every detail, and enriched the quality of life offered in each of its rental apartment buildings for nearly five decades. Glenwood owns and operates apartment buildings throughout Manhattan such as Emerald Green, Paramount Tower, The Brittany, The Grand Tier and The Pavilion. http://www.glenwoodnyc.com.
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