Power Efficiency Corporation (PEC) will provide comprehensive one-stop solutions to the grid stability problems and take advantage of large and actively growing market opportunity for energy storage, which is projected to reach $45 billion by 2020. PEC will offer solutions to grid operators, utilities, and Commercial and Industrial (C&I) customers. Our focus is on renewable Distributed Energy Resources (DER) and Battery Energy Storage Systems (BESS) for grid balancing services to the Independent System Operators (ISOs); load shifting for utilities; energy management through storage for C&I customers; and micro grids for energy security. We build, own, and operate these facilities to develop a portfolio of income producing projects.
Our goal will be to develop grid tied projects using Li-Ion Battery Energy Storage Systems in the Regional Transmission Organization (RTO’s) territory, selling balancing services in the wholesale market. Our focus is on the PJM, CAISO, ERCOT and Hawaii markets. The company intends to develop, own and operate these facilities.
PEC also focuses on large commercial and industrial-scale customers for behind the meter applications. These systems are used to manage the customer’s energy consumption to reduce cost through peak demand reduction, arbitrage energy, and minimize load during the system peak of the grid in order to reduce the customer’s annual energy bills. The battery systems will be either based on Li-Ion or Lead Acid Battery technologies.
PEC will develop its own storage projects and potentially partner with solar developers to provide the integrated storage components. Storage is a growing requirement for the development of solar systems to smooth the intermittence of the solar output. It is already a requirement in areas of high renewable penetration such as Hawaii and Puerto Rico. PEC also responds to RFPs for major battery storage projects originated by ISOs/RTOs, and regional utilities.