Stem builds momentum in wholesale market participationSeptember 11, 2019
MILLBRAE, Calif., Sept. 11, 2019 (GLOBE NEWSWIRE) — Stem, Inc., the global leader in artificial intelligence (AI)-driven energy storage services, will feature its new front-of-meter wholesale offerings and resilient solar + storage solutions during Solar Power International, September 23-26 in Salt Lake City.
“There is a tremendous opportunity in the wholesale distributed generation market for solar. But key to that is intelligent storage, which can turn solar into a flexible, responsive resource that can be traded in the energy markets. Maximizing returns by determining which markets and programs to utilize over the life of the project is where Stem’s expertise most benefits the solar asset owner,” said Alan Russo, chief revenue officer of Stem. “Building on our experience with storage co-sited with solar and pioneering expertise in delivering best-in-class solutions across the entire energy lifecycle, Stem is well positioned to expand its offerings into the front-of-meter market, which is the highest growth segment for storage.”
Stem recently announced a new partnership with Syncarpha Capital LLC that will enable it to expand into front-of-meter markets. Stem is working with Syncarpha to build a large-scale storage project co-sited with distributed photovoltaic solar in Massachusetts. A central component of the system is Stem’s Athena™ AI platform, which will support program management, trading strategy and execution, forecasting solar capacity, asset management optimization and compliance.
Stem’s front-of-meter offering builds on its extensive experience trading in the California ISO, aggregating behind the meter assets and trading them in the wholesale markets as virtual power plants.
Presentations and Training at the Stem Booth
At its booth (5075), Stem will share more details about this project and offer presentations on:
- Solar + Storage Opportunities in the Northeast – Stem will discuss its offerings and value drivers for the Northeastern United States, including front-of-meter wholesale market participation, solar charging, solar self-consumption, backup power and how to benefit from state-sponsored programs in New York and Massachusetts.
- Resilient Solar: How Energy Storage Future-Proofs Solar – Learn about key value streams of behind-the-meter and front-of-meter solar + storage projects, including leveraging backup power for resilience. Stem also will provide case studies and tips for success with storage.
- What to Look for in an Energy Storage Partner – Get an overview of different approaches to adding energy storage to solar offerings, including the benefits of partnering with a turnkey storage provider.
Ted Ko, director of Policy for Stem, also will be a featured panelist in the session “Building PV & Storage for a High-Penetration Future,” scheduled for Tuesday, September 24 at 9:30 a.m. in room 250F. Ko will discuss policy and market mechanisms being implemented and proposed that will enable storage to support solar PV, as the industry seeks to achieve 50 percent or greater penetration.
For more information or to set up a briefing at Solar Power International, contact Than Tran at than (dot) tran (at) Stem (dot) com.
About Stem, Inc.
Stem provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena™ AI, a world-class artificial intelligence (AI)-powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation and grid power. Stem’s solutions help enterprise customers benefit from clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resiliency, sustainability, environmental and corporate responsibility, and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter.
Headquartered in Millbrae, Calif., Stem is directly funded by a consortium of leading investors including Activate Capital, Angeleno Group, BNP Paribas, Constellation Technology Ventures, Iberdrola (Inversiones Financieras Perseo), GE Ventures, Magnesium Capital, Mithril Capital Management, Mitsui & Co. LTD., Ontario Teachers’ Pension Plan, RWE Supply & Trading, Temasek and Total Energy Ventures. For more information, www.stem.com.
Media contact: Laurie Gibson Kickstart Consulting for Stem (650) 815-1438