The project will invest in approximately 100
sites across California, with a
focus on Disadvantaged Communities (DACs)
WAUKESHA, Wis., Oct. 21,
2024 /PRNewswire/ -- Generac Holdings, Inc.
(NYSE: GNRC), a leading global designer, manufacturer and
provider of energy technology solutions and other power products,
today announced the company has been selected to enter into
negotiations by the Department of Energy (DOE) to receive an award
for a grant of $50 million as part of
the DOE's Grid Resilience and Innovation Partnership (GRIP).
Established by the Bipartisan Infrastructure Law, the Grid
Resilience and Innovation Partnerships (GRIP) Program is a
$10.5 billion investment to enhance
grid flexibility, improve the resilience of the power system
against extreme weather, and ensure American communities have
access to affordable, reliable, energy when and where they need
it.
Generac, in collaboration with the California Water Association
(CWA), aims to integrate clean energy solutions with water
utilities statewide. The total investment is estimated to be
approximately $100 million across
about 100 California water utility sites, particularly in
Disadvantaged Communities (DACs).
"We've been providing reliable backup power solutions to
critical infrastructure, such as water and wastewater utilities, in
California and across the US for
more than 65 years," said Aaron
Jagdfeld, president and CEO at Generac. He added, "We are
honored to be selected by the DOE to expand that scope by
delivering these innovative solutions of clean, resilient, and
efficient power for California and
its grid."
Under the project, microgrids, which will utilize battery energy
storage and be managed by distributed energy resource management
systems (DERMS), will form virtual power plants (VPPs) capable of
delivering reliable load reduction during times of grid stress.
Additionally, the project, with at least 55% of sites in DACs, will
lead to improved air and water quality, reliability, and
operational savings.
"I am thrilled Generac Power Systems project has been selected
for funding and thank the U.S. Department of Energy for their
ongoing support of innovations that advance California's clean energy goals," said
California Energy Commission Chair David
Hochschild. "This effort will install battery systems at
water utility facilities across the state, supporting resiliency
during local outages and enhancing grid reliability by offering
backup power during extreme events."
California's electric grid is
increasingly challenged by aging infrastructure, rising demands
from electrification, and the effects of extreme weather. As an
example, during a 10-day heat wave in September 2022, the grid was pushed to its
limits, and water utilities played a vital role by providing backup
power through fossil-fueled generators. This situation underscored
the urgent need for more sustainable and resilient energy
solutions.
"Made possible through our close partnership with Generac Power
Systems, the California Water Association and our members
are honored to be beneficiaries of this $50 million grant from the DOE GRIP program. This
funding will help our member water utilities leverage clean
microgrid and advanced storage solutions to improve local electric
power resilience in the communities we serve," said Jennifer Capitolo, CWA Executive Director.
The project will create an estimated 200 union construction jobs
and 33 direct jobs, contract approximately $27 million with businesses majority owned or
controlled by underrepresented persons or groups of
underrepresented persons, and direct 59% of project benefits to
DACs. Some or all of this project will be executed in collaboration
with the Northern California Laborers, Northern California
Operating Engineers, Operators Local Union, Teamsters Local Union,
Laborers Local Union, Carpenters Local Union, Masons Local Union,
or the IBEW Local Union.
For more information, visit the following link
https://www.energy.gov/sites/default/files/2024-10/Generac_Power_Systems_GRIP2_Fact_Sheet.pdf for
a background document on the project.
About Generac
Generac Power Systems (NYSE:
GNRC) is a leading energy technology company that provides backup
and prime power products and energy storage systems for home and
business applications, as well as energy monitoring and management
devices and services, along with other power products. Founded in
1959, Generac introduced the first affordable backup generator
and later created the automatic home standby generator category.
The Company has continued to expand its energy technology offerings
in its mission to lead the evolution to more resilient, efficient,
and sustainable energy solutions.
Media Contact: Jonathan
Stern
Jonathan.Stern@Generac.com |
(312) 402-7167
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SOURCE Generac Power Systems, Inc.