Press Release

SAN FRANCISCO, Sep. 12, 2024 /PRNewswire/ -- GoodLeap, LLC (GoodLeap), America's leading technology platform for financing and software products to deploy sustainable solutions, today announced the launch of its Virtual Power Plant (VPP) offering called GoodGrid. By permitting GoodLeap to partner with homeowners to optimize the performance of their batteries and other devices through its software platform, members of the GoodGrid community can expect to earn ongoing cash rewards while supporting a more reliable and sustainable electric grid.

One of the fastest growing VPP networks in the country, GoodGrid seeks to improve one of the most "stressed" utility grids in the country. GoodGrid has already deployed energy to help alleviate six "stress" events in the California Energy Commission's (CEC) Demand Side Grid Support (DSGS) program, where utility consumer energy demand exceeded capacity.

"Distributed energy has proven its value to the millions of customers who benefit from cleaner, reliable, affordable energy every day," said GoodLeap Founder, Chairman, and CEO Hayes Barnard. "Now, our GoodGrid software will help utilities and homeowners maintain a stable grid while avoiding power outages and expensive fossil fuels. This solution, offers a path for homeowners and utilities to work together to meet our country's increased energy needs."

The term "virtual power plant" (VPP) is used to describe a network of behind-the-meter products in the home, including rooftop solar systems, residential batteries, HVACs, electric vehicles, heat pumps, and water heaters, among other devices. The VPP provider along with the homeowner enrolled in the VPP program can expect to receive compensation for the grid services they are contracted to provide, the grid services they deliver, or both. Participation opportunities and compensation schedules will vary across regions based on the energy demand, state policies, and availability to partner with utility companies.

"With weather extremes and historic power demand growth intensifying, the risk of power outages is driving up the price of electricity, said GoodLeap Chief Strategy Officer, Dan Lotano. "Utilities and grid operators are exploring every solution possible to keep the lights on in their communities without burdening consumers with unaffordable rates. Many homeowners have already installed the battery solutions and now we're leveraging our GoodGrid technology to bring all the key stakeholders together to create additional value for everyone."

More information about GoodLeap's activities as a DSGS Provider and the opportunities for compensatory DSGS participation available to GoodLeap's eligible California-based customers can be accessed here.