TORONTO--(BUSINESS WIRE)--SWTCH Energy, a company specializing in electric vehicle (EV) charging solutions for multi-tenant properties, and AutoGrid, the industry’s leading virtual power plant (VPP) and distributed energy resources management system (DERMS) provider, today announced a partnership to integrate 250 EV chargers in multi-tenant properties into an active demand response program with a Canadian utility. This partnership marks the first time that a North American utility will incorporate multi-unit residential building chargers into its demand response programs.
AutoGrid’s AI-powered Flex™ platform can process data from millions of energy assets simultaneously and subsequently forecast demand patterns, helping utilities automate distributed energy management. By tapping into this cutting-edge technology, SWTCH EV chargers that participate in AutoGrid’s demand response programs will be adjusted remotely for brief periods, helping manage demand on the electrical grid.
“In partnership with AutoGrid, we are committed to introducing and scaling innovative solutions with outsized impacts on grid reliability and efficiency,” said SWTCH CEO and Co-Founder Carter Li. “North American energy infrastructure is coming under tremendous pressure, making the introduction of turnkey, efficiency-boosting measures more important than ever. With AutoGrid’s proven experience as a leading DERMS provider, we look forward to a successful launch in Canada and a rapid expansion across North America.”
“By supporting EV adoption in multi-family properties, AutoGrid’s partnership with SWTCH taps an important source of capacity for the grid, but also expands access for consumers across the socioeconomic spectrum to participate in accelerating the energy transition,” said Amit Narayan, AutoGrid Founder and CEO. “We are excited to be part of this important milestone in striving for energy equity and climate action.”
Demand response is a technology-enabled conservation system for electric power supply; it involves shifting or shedding electricity during peak demand periods. Demand response works in two ways: price-based programs, which use price signals and tariffs to incentivize consumers to use less electricity, and incentive-based programs that pay consumers directly. As utilities pledge to cut carbon emissions, the global demand response market is expected to grow by $1.07 billion between 2020 and 2025, led by North America.
While this type of demand response program is gaining traction throughout the single-family home category, multi-tenant building assets remain an untapped resource. The partnership between SWTCH and AutoGrid sets a precedent for DERMS providers and utilities across the continent at a time when the need for energy resilience is more dire than ever.
About SWTCH Energy Inc.
Headquartered in Toronto, Ontario, with offices in Brooklyn and Boston, SWTCH is pioneering EV charging solutions for multifamily and commercial properties across North America. SWTCH leverages the latest technology available to help building owners and operators deploy EV charging by tapping into their existing grid infrastructure. Through constant innovation and an extensive partnership network, SWTCH provides the most profitable and unique business model for multi-tenant buildings to stay competitive. For more information, visit www.swtchenergy.com.
AutoGrid accelerates the transition to renewable energy in order to combat the climate crisis. Our AI-driven software makes distributed energy resources smarter, enabling prediction, optimization, and real-time control of energy assets, including electric vehicles, batteries, roof-top solar, utility-scale wind, storage, and more. With over a decade of pioneering experience across the globe, AutoGrid offers fleet owners, energy-as-a-service companies, renewable project developers, utilities, and electricity retailers a scalable solution that enables them to build, own, operate, and participate in Virtual Power Plants. The AutoGrid Flex™ platform manages over 6,000 MW of VPPs in 17 countries. For more information, please visit: https://www.auto-grid.com/