At Uplight, 2023 went out with a bang that will inspire much of what we accomplish as we look forward in this New Year.
With our agreement to acquire AutoGrid, we see new potential like never before at the intersection of the electrification, digitization and decarbonization imperatives. We’re excited to deliver more customers and grid-connected devices into a greater variety of energy programs. There are possibilities to unlock never-before-seen opportunities for energy customers, energy providers, smart energy equipment manufacturers, automakers, service providers and a host of other clean energy ecosystem players.
Our potential is being powered by the ever-increasing pace of grid-connected electrified devices and technologies that are entering homes and businesses: by 2030, homes with smart thermostats are forecasted to grow from 10% to 35%; the number of light-duty electric vehicles (EVs) on the road, and connected to the grid, will grow by more than 8X. Along with this exponential growth in distributed energy resources (DERs) will come growth in electricity demand. According to The Department of Energy, peak electricity demand in the United States will reach 200 GW by 2030.
We cannot build infrastructure fast enough, or affordably enough, to meet this unprecedented demand. Instead, reliable flexible capacity will become our most important and effective tool to sustain and optimize the grid. We see virtual power plants (VPPs) as one of the most affordable, scalable, and rapidly attainable resources to reliably provide this flexible capacity. Their adoption could save on the order of $10 billion in annual grid costs and direct that spending back to the pockets of electricity consumers. To deliver, we’re bringing to the market a new approach, one that leans into a digitized future and leverages customer centricity to unlock the flexibility power of all of these grid-connected assets.
Uplight’s depth of expertise in energy customer engagement combined with AutoGrid’s leading flexibility management platform will generate more value for grid-connected assets across the entire clean energy ecosystem. Utility customer engagements will be deepened through digital and human insights, enrollments made seamless through our leading online marketplaces,and load flexibility offerings made more expansive and customizable through orchestration of a diverse set of DER types and classes.
Energy ecosystem partners, from smart energy equipment manufacturers to automakers to service providers and beyond, will sell and install more grid-connected devices and deliver a better customer experience through seamless rebate access, program enrollment, and load flexibility program options. Together, we will enable compelling paths of active participation for residential, small business, and commercial & industrial energy customers, bringing with them more types of assets that can be connected to the grid.
As the demand-side market continues to grow and expand with more customers and more-grid connected assets, we will simplify and strengthen the connections across utilities, grid operators, device manufacturers and energy customers.
In the coming weeks, we’ll continue to share more details and context on why we’re so bullish on 2024 and beyond for the clean energy space. Stay tuned!