Solect Energy is launching an energy storage division. In launching the new division, Solect has signed an agreement with NEC Energy Solutions, a wholly-owned subsidiary of NEC Corporation, to sell NEC’s DSS (Distributed Storage Solution) product line for commercial customers. NEC is one of the world’s leading energy storage solutions providers with more than 250 MW of projects installed or currently under construction.
“We couldn’t be more excited about our collaboration with NEC and the opportunity to bring tremendous additional value to both our existing and new customers,” said Ken Driscoll, CEO of Solect Energy. “We are at the doorstep of the energy storage boom and Solect is extremely well positioned to bring these new solutions to our commercial customers, saving them money and building resiliency.”
Since Massachusetts has some of the highest demand charges in the United States, accounting for up to 70% of a commercial customer’s electricity bill, both Solect and NEC anticipate that Massachusetts will be one of the next major markets to see commercial-scale energy storage rapidly grow the way it has in California. Demand charges are based on a customer’s monthly peak load and, according to Solect’s market analysis, up to 70,000 commercial customers in Massachusetts currently pay high enough rates to economically justify installing a storage system to even out their energy load profile and lower their demand charges. When paired with solar, the economics are even better due to tax advantages and other ways to monetize the benefits of both systems working together.
“As Massachusetts’ leading commercial-scale solar energy provider, we are delighted to be working with Solect as a Qualified DSS Partner. There’s no doubt they are well positioned to become one of the leaders in the solar+storage market here in the Commonwealth,” said Steve Fludder, NEC Energy Solutions CEO. “Over the next few years, we expect energy storage to rapidly expand in Massachusetts as commercial customers look for additional ways to cut costs, reduce emissions and enhance resiliency. We look forward to working with the Solect team to capitalize on that growth.”
“Storage is like adding a turbo charger to your solar system,” said Driscoll. “Whether you are a manufacturing company, a medical imaging facility or even a municipality, if you have high demand charges and you want to reduce them, you should be thinking about energy storage and pairing it with an existing or new solar energy system.”
As a Qualified DSS Partner for NEC, Solect will act as a reseller and independent contractor, installing, operating and maintaining DSS energy storage units. The DSS platform is scalable from 85 kWh to 510 kWh of energy storage capacity and offers from 100 kW up to 710 kW of power capability. As a standardized, UL safety-certified, AC-ready system including power conversion system, the DSS product is preconfigured in outdoor-rated enclosures, compliant with all relevant regulatory and environmental requirements and is backed by up to a 10-year product warranty.
News item from Solect