Green Mountain Power (GMP) is empowering Vermont businesses with an app that lets them name their price for renewable power, generated by Vermonters. Now, companies that join this new pilot program can power their business with 100% renewable energy by buying it using GMP’s Vermont Green app. This enables businesses to take quick action to go renewable, avoiding construction costs, long-term power contracts, loans or complicated spreadsheets. Companies just need to know how much power they’d like and how much they’d like to pay, and the online marketplace will process the bid and match them with local renewable power for however long they’d like.
Vermont Cookie Love in Ferrisburgh is looking at signing up for Vermont Green, hoping to make the energy supply behind its popular cookie dough, cookies, and creemees 100%t renewable.
“We’re a Vermont company focused on local ingredients and doing good for the environment. We’ve already taken steps to be renewable with solar, and it is an exciting idea to be able to power part of my business with Vermont Green. I’m looking forward to learning more about how this program could simplify making our cookies with 100% renewable energy,” said Paul Seyler, founder and owner of Vermont Cookie Love.
“This is a landmark moment for energy in the U.S. as it is the first time a community scale local energy market has been developed, regulated and commercially operated,” said LO3 Energy founder and CEO Lawrence Orsini. “Vermonters are among the most environmentally conscious in the country. There’s a huge appetite for local businesses to be 100% renewable and at the same time there’s an increasing amount of home solar production. This platform pairs the local supply with demand at the grid edge and we are delighted to be working with Green Mountain Power to bring this market to commercial reality.”
Green Mountain Power aims to become a 100% renewable provider by 2030 and setting up local energy markets that can utilize local distributed energy resources will be key to achieving that target.
The company’s energy supply is already 90% carbon-free and 60% renewable and this new marketplace will make it possible for participants to top that up toward a target of 100% renewable.
It will initially focus on helping business customers to increase their green credentials by buying local energy attributes from residential solar.
Participating businesses will be able to set desired bids in renewable energy auctions, making the transaction of local renewable energy attributes transparent and allowing flexibility in pricing.
The platform utilizes innovative technology to automatically match bids with offers and log the transactions. GMP is launching this as a limited pilot program, but could later be made available to residential consumers as well as commercial entities.
“This is the culmination of many years of work developing the technology to deliver local energy markets. We have many working projects around the world and so it’s great to now be commercially active in the U.S.” said Orsini. “As distributed renewables grow and the world becomes more and more digitized, the ability to manage local energy resources in this way will become increasingly crucial to our everyday lives. We now have the technology to do this and by starting now, progressive companies like Green Mountain Power and others we are working with around the world will be the leaders in the new energy transition.”
News item from LO3 Energy and Green Mountain Power