Electriq Power announced this week that Caribbean Utilities Company (CUC) selected it to supply the platform for a new Behind-the-Meter (BTM) Energy Storage Pilot Program.
The residential battery project calls for Electriq Power to deploy its battery in 10 Grand Cayman homes and to manage these behind-the-meter systems as a virtual power plant (VPP), with installations being carried out by local contractors.
The Cayman Islands energy policy requires 70% of electricity to come from renewable energy sources by 2037. CUC studies have shown that a substantial amount of front-of-meter and BTM battery storage will be needed to integrate more solar and wind energy. To test the efficacy of battery storage systems in residential homes to meet future energy goals, CUC and Electriq Power will install the PowerPod 2 systems in the selected private homes to provide both backup during power outages, as well as grid services to support CUC’s distribution infrastructure.
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Among the goals of the initiative are to discover best practices for installation and operation, understand capital and operational costs, and demonstrate and measure multiple value propositions for the residential user and CUC.
Electriq Power’s latest PowerPod 2 includes a cobalt-free Lithium-Iron-Phosphate (LFP) battery, hybrid battery/solar inverter, home energy management system, and an energy consumption meter. The system offers resilient and responsive backup power, as well as a smart home energy software app to manage electricity use and optimize efficiency.
Sacha Tibbetts, Vice President Customer Services & Technology for CUC, stated that, “Battery storage is foreseen in CUC’s Integrated Resource Plan as an enabling component in a transition to a renewable-dominated portfolio. While the value proposition to CUC and its customers from large-scale battery installations is well understood, small customer-sited batteries are relatively new and not yet fully understood by the industry. CUC is looking forward to working with Electriq Power and to piloting small-scale batteries at 10 residential customer sites. This will allow us to better understand the value to CUC and our customers.”
“This new supply agreement in Grand Cayman is… an opportunity to partner with an innovative utility and to demonstrate the capabilities of our PowerPod 2 system in a VPP application. We are excited to broaden our global presence and look forward to continuing to expand our reach this year and beyond,” said Frank Magnotti, CEO of Electriq Power.