The Dallas skyline is visible from Sylvan Avenue in Dallas, Texas on Thursday, December 22, 2022. (Emil T. Lippe for The Washington Post via Getty Images)
Ford, General Motors, Google Nest, and several energy companies are partnering to support the growth of "virtual power plants" (VPPs) — or networks of decentralized power sources designed to kick in when the grid falls short. RMI, a nonprofit seeking to decarbonize the energy system, is spearheading the effort.
“Virtual power plants are poised for explosive growth, and RMI is committed to being at the forefront of their success by launching VP3,” said RMI CEO Jon Creyts in a press release. “Our analysis shows that VPPs can reduce peak power demand and improve grid resilience in a world of increasingly extreme climate events."
How does this work? Virtual power plants pool together both energy producers and consumers under a single entity, from wind and solar farms to home heaters that use smart thermostats. The idea is that these networks can coordinate to both provide and conserve energy as needed, depending on demand on the grid. This could entail using advanced software to prompt members to reduce their consumption.
On the supply side, producers in a VPP are able to better "monitor, forecast, optimize and trade their power," explains Next, one of Europe's largest VPP operators. "This way, fluctuations in the generation of renewables can be balanced by ramping up and down power generation and power consumption of controllable units."
So if a wind farm is overproducing, and a solar park is under producing, they can coordinate their output to provide a balanced load. It also allows them to potentially trade together on the same market, putting them in competition with large central power plants. It could also provide additional power options for large industrial consumers, such as automakers.
“Virtual power plants present an exciting opportunity to unlock additional value for homes, businesses and communities, helping to drive greater energy independence and grid decarbonization,” said Mark Bole, vice president and head of GM's V2X and Battery Solutions. “This collaboration underscores GM’s commitment to creating a more resilient grid, with EVs and virtual power plants playing a key role in helping to advance our all-electric future.”
The Super Bowl is only a few days away, and the game is currently tracking to be the most expensive one ever.
Gametime, a website and app for last-minute tickets, says the average ticket price for the NFL's championship game is $9,502.50, with the most expensive seats costing nearly $38,000. That's a far cry away from the average ticket price of the first-ever Super Bowl in 1967, which was only $12. The average ticket price increased by more than $8,000 in just the past decade. Matt Rados, Senior Operations Manager at Gametime, joins Cheddar News' Closing Bell to discuss.
Earlier this week, digital investment advisor Betterment announced that it has hired Makara, a company known for its management of cryptocurrency portfolios. Sarah Levy, CEO of Betterment, joins Cheddar News' Closing Bell, where she explains why crypto represents such a promising long-term play and how her company stands to benefit from this latest move.
At-home medical labs company Getlabs raised $20 million in a Series A round, led by Emerson Collective and the Minderoo Foundation. Getlabs aims to be the boots-on-the-ground partner to telehealth. The company says more than 70% of medical decisions still require collecting diagnostic tests in person, and that it fills that void by delivering health care directly to their patients' homes. Founder & CEO of Getlabs Kyle Michelson joined Cheddar News' Closing Bell to discuss.
The White House laid out plans for a $5 billion investment into a national network of charging stations to ease EV driving anxiety. Bruce Brimacombe, CEO of EV infrastructure GOe3 joined Cheddar News to discuss how much needs to be done for drivers to get over the fear of running out of energy. "People need to be able to do what they're doing now," he said. "But that is the way that if you're going to buy an electric car, you got to feel like you're not changing your world." Brimacombe noted that building out the infrastructure between cities was GOe3's own focus.
Sonos reported better than expected Q1 earnings amid chip shortage with the release of its Roam product. CFO Brittany Bagley joined Cheddar News to discuss the smart speaker maker's successful report and its plans to hit its 2024 targets as people leave their homes as pandemic restrictions ease. "Even as people head out in the world, it doesn't mean they don't like to listen to music at home or watch a streaming movie at home," she said. "So there's still a real role for us and our products in peoples lives, sort of, no matter what else they're doing."
Kalle Marsal, Chief Operating Officer at PetDx, joins Cheddar Innovates to discuss how next-generation sequencing technology is being used to detect cancer in pets early.
Ashleigh Hinde, Founder and CEO of WALDO, joins Cheddar Innovates to discuss why now is a good time to make eyecare a priority, and how they are democratizing access to eyecare for all.
On this episode of Cheddar Innovates: WALDO CEO breaks down why now is a good time to make eyecare a priority, and how they are democratizing access to eyecare for all; COO at PetDx explains how next-generation sequencing technology is being used to detect cancer in pets early; Cheddar gets a look at Curiosity Stream's 'Inside The Mind of a Con Artist.'
