We’re excited with our accelerating partnership with Munich Re, the global insurance company. Munich Re’s Hartford Steam Boiler Inspection and Insurance division (HSB) has insured buildings and industrial assets around the world for over 150 years, and has a deep commitment to driving new IoT solutions for both carbon/climate and active risk management.
HSB provides a 3 year Savings Warranty on PACE AI savings on heating and cooling equipment, making PACE AI a breakthrough AI/ML solution for carbon and cost: 20%-30%+ electric and gas $$ savings, 30%-100% utility incentives, 3 year Savings Warranty. Here’s a recent Munich Re article describing our partnership.
Residential Virtual Power Plants (VPPs) tie together homes and sometimes electric vehicles, to shed load and provide power when needed during times of high electric demand.
They have big potential to deliver a smarter, more resilient grid. But most residential VPP models are now built around single-family homes, and with homeowners being able to modify their houses, something not applicable to single apartments or condos.
For a 70+ unit multi-family building, in a demonstration PACE AI just delivered an estimated 80 kW of load shed, during the local afternoon electric peak demand period (3 pm-6 pm). And with no changes in resident comfort, “painless VPP”! We estimate that as much as 100-120 kW of total sheddable load could be enrolled under the local utility’s Demand Response program, for dollar revenues to building owners and residents as well.
As part of our work with DOE-Lawrence Berkeley National Lab’s great FLEXLAB/FLEXGRID facility, we’re joining CalFlexHub — a terrific effort to make electric power grids more dynamically responsive.
More renewable energy is being added to electric grids worldwide, cutting carbon emissions and providing jobs, and that’s great. The challenge is matching electric load (demand) to electric supply through the day, with better load shed/shift and storage, and with real-time price information.
CalFlexHub’s participants, which include electric utilities and nearly every global grid and building system OEM, as well as smart home and cloud players like Google and Amazon and new technology providers like PACE AI, have an ambitious goal: fully decarbonizing California electricity production by 2045. We can do it! Learn more about CalFlexHub here.