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.”
Nikola announced that it delivered its first electric semi trucks last week, sending the embattled EV company's stock soaring. There is a lot of competition in this space, though, said Lauren Fix, an automotive analyst with Car Coach Reports. While every country has companies racing to dominate the electric trucking industry, she explained, a shortage of graphite, used in batteries, and a dearth of convenient charging stations will still keep growth slow in 2022. "You really have to be very careful when you're investing in this marketplace," Fix said. "That's great that [Nikola was] able to deliver one, but can they deliver more?"
Carlo and Baker kick off the weirdest week of the year with all the news you missed over the holiday weekend, including calls for the CDC to shorten its isolation window as Omicron sweeps through the country.
The National Highway Traffic Safety Administration has opened a formal investigation into Tesla. The agency is looking into about 580,000 Tesla vehicles, and a feature called 'Passenger Play' which allows drivers to play video games on the center touch screen. The feature previously only worked when a vehicle was in park; but, the NHTSA says it has confirmed that the feature has been available while vehicles are in motion since December of 2020. iSeeCars.com executive analyst Karl Brauer joins Cheddar News' Closing Bell to discuss.
Baron Davis and Kate Hudson want you to bring cannabis home for the holidays. The cannabis-infused seltzer brand Cann released a new spot featuring the actress and former NBA player. The campaign comes hand in hand with Cann's launch of a new holiday bundle, which includes its product with Hudson's King Street Vodka. Davis and Hudson are also Cann investors. Cheddar cannabis reporter Chloe Aiello spoke to Davis about his involvement with the company and its new campaign.
Healthcare workforce management platform ShiftMed
recently announced a $45 million funding round.
The company's platform connects nurses and healthcare professionals to hospitals and other healthcare providers.
ShiftMed's new funding comes amid widespread labor shortages in the healthcare sector. The company's CEO Todd Walrath joins Cheddar News' Closing Bell to discuss.
