VCharge identifies large electric loads, makes them addressable via the Internet, controls them, and turns the load into a cashflow. In the process, we provide homeowners with good, clean heat, and grid operators like PJM and ISO NE with fast frequency response and other ancillary services.
Our current specialty is working with Electric Thermal Storage heat, relatively uncommon in the US, but plentiful in Europe with over 15 million installed units. A "stone age" technology, ETS works by storing heat in ceramic bricks or tanks of water during off-peak hours, and the accessing the stored energy during peak hours. We save a typical homeowner 25% on the cost of heating their home.
ETS is just one special example of Transactive Load that we can control. Transactive loads have some form of storage, and can communicate via our controls to provide rapid, automated demand response and other services to grid operators. Other examples of transactive loads include electric vehicles, compressed air storage, and ice air conditioning.
We currently operate a 10MWh energy storage facility in Pennsylvania comprised of over 100 homes that use ETS heat. We provide price price-sensitive frequency regulation services to PJM using the asset and low-cost heat energy to homeowners. This "hidden in plain sight" grid asset represents cost effective grid-scale storage at less than $20K/MWh.