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Renewables Go Virtual: Virtual Power Purchase Agreements & Virtual Power Plants

  • GLUMAC Los Angeles / AON Tower 707 Wilshire Blvd, 23rd Floor Los Angeles, CA 90017 (map)

Hosted by GLUMAC: A Tetra Tech Company

Earlier this month, Fifth Third Bancorp announced that it has become the first Fortune 500 company and first bank to sign a power purchase agreement to achieve 100% renewable power through a single project. Furthermore, Fifth Third becomes the first publicly-traded company to commit to purchase 100% renewable energy through solar power alone.  Advanced energy storage companies around the world are also deploying distributed, dispatchable battery assets across regions, including Tesla's most recent residential deployment of Powerwalls in Australia.

The event will showcase Virtual (or off-site) Power purchase agreements (PPAs), which the industrial, commercial, and public sectors are taking advantage of to support development of new clean energy while meeting sustainability goals - such as carbon neutrality or obtaining 100% of their energy from renewable sources, and reaping financial benefits at the same time.  We will also be discussing Virtual Power Plants (VPPs).  Most lithium-ion battery deployments today come in the form of giant, centralized battery plants. A virtual power plant is comprised of multiple (hundreds or even thousands) of batteries distributed within a grid (at businesses, schools, or even homes), but  operate just like a one big system -- charging up when demand and electricity rates are low and discharging when demand and prices are high.