Stem Inc. a leader in smart energy storage systems, or energy storage driven by artificial intelligence (AI) announced this Thursday it entered into a definitive agreement with Altus Power America to provide smart energy devices for a solar project in Massachusetts.
Firstly, Altus Power is a market-leading clean electrification company that develops, owns, and operates renewable energy assets in Massachusetts and throughout the United States. The agreement will allow Altus to leverage from Stem’s devices.
Secondly, Altus will deploy the solutions by Stem in order to manage clean energy flexibility in its New Marlborough, Massachusetts, solar power plant. In fact it is a behind the meter (BTM), DC-coupled 2.9 megawatt solar system project; that will be paired with Stem’s 2 megawatt-hours of energy storage.
Thirdly, companies expect to have everything operational by the second quarter of 2021. Stem will deploy for Altus its Athena AI smart energy storage platform. It will enable Altus Power to provide automated demand response solutions; featuring flexible delivery of clean energy during peak demand times.
Consequently, Stem solution will maximize the economic and environmental benefits of Altus solar assets; as adding energy storage to the DC-coupled solar system will lessen the energy loss within the solar inverters.
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Stem, strong competititor in the state
Moreover, this is not the first agreement between Stem and Altus; in fact, both companies collaborate to support compliance with requirements for federal investment tax credits; and the Solar Massachusetts Renewable Target (SMART) Program. This initiative is a state-program that promotes cost-effective solar development with customer-facing and grid service benefits.
In addition, since the announced of the SMART project in the state, back in 2017; Stem has deployed an aggregate of more than 180 MWh of storage capacity; nearly 20% of all non-residential energy storage capacity for MA SMART; via behind the meter and front of meter.
On the other hand, about the agreement, John Carrington, Chief Executive Officer of Stem, said. “Our Athena AI smart energy storage platform makes it easy for our partners like Altus Power to leverage our capabilities to deliver reliable and efficient energy to their customers; while enhancing project returns.”
Finally, Tony Savino, Co-Founder and Chief Construction Officer of Altus Power, added. “Partnering with a leading integrator like Stem allows us to provide our customers with energy storage systems in an adaptable and efficient manner. We look forward to a continued partnership with Stem; helping to enable further delivery of clean energy to our customers.”