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Product Release: Joule Assets Demand Response & Energy Efficiency Platform
SOUTH SALEM, N.Y. - Joule Assets, a smart grid startup today announced the release of their new suite of tools that enables clients to provide Demand Response (DR) market participation to their customers as a value added service with recurring revenue opportunities. Joule’s Energy Reduction Assets™ (ERA) platform identifies DR eligible programs via ZIP Code, maximizes cash flows through its ERA Optimization Engine℠, enhances clients’ earnings with Joule’s proprietary aggregation algorithms and helps streamline DR participation with process maps, contracts and scoping items, and access to financing, vendors, and aggregators in markets where their customers are located.
Joule’s software-as-a-service (SaaS) platform is designed to be a “white labeled” sales tool for traditional energy service, product and technology companies (i.e. engineering firms, lighting, HVAC and building controls, energy management software firms, etc.) who find it difficult and frustrating to effectively guide their clients to DR programs. Rules and products are complex, within and between geographies; the rules for each product change frequently; market values are sometimes opaque (sole or limited service providers), sometimes publicly posted, but difficult to apply to companies’ client base. The barrier is mainly a lack of clear and concise information and guidance on the way forward, a barrier overcome by Joule with its ERA platform.
Joule provides similar offerings for Energy Efficiency (EE) projects which offer the best paybacks available today and the ideal time to evaluate DR participation. In some locations, an EE upgrade project will generate White Certificates, which are financial products that can be sold through states’ (or nations’) renewable portfolio standards. In other (sometimes overlapping) areas, a project will generate Peak Demand Reduction that can be sold into electricity markets, as if it were a power plant resource, available at times of peak use. These upgrades may often be financed by rebates or incentives available through utilities and/or government agencies. These ancillary ERA cash flows will enhance clients’ position within their client base to better sell core services and technologies.
“Joule recognizes these opportunities to enhance value for services companies by accurately offering their customers access to energy reduction markets as an additional revenue stream from which to purchase their product or service,” said Mike Gordon, Joule Assets Chief Executive Officer. “Tapping our unique perspective and extensive experience in the markets, Joule has developed a suite of services and products that equips them with the knowledge and tools necessary to best introduce their clients to the appropriate energy reduction asset markets so they may both achieve their financial objectives.”
Joule’s DR Client Benefits
· White label (or mix and match providers of) a demand response offering for all of their clients
· Ensure that demand response aggregators are paid based on the aggregators’ performance, and clients are paid based on clients’ performance
· Enhance clients’ earnings by optimizing demand response participation through Joule’s aggregation algorithms
· Enhance clients’ earnings through better margins from aggregators
· Enhance clients’ service from aggregators by managing competition between aggregators, selling to an aggregator’s strength, and managing the client relationship after the sale
· Prequalify resources for aggregators
· Better inform clients whether a direct aggregator role is suitable or appropriate for them
· Enhance clients’ position within their client base to better sell core services and technologies
About Joule Assets Inc.
Joule Assets’ team is led by two pioneers in the energy reduction industry, Mike Gordon, founder of CPower, generally regarded as the first non-utility DR service provider and Dennis Quinn, co-founder of Celerity Energy. Both founders successfully grew and sold their companies and have returned to develop these much-needed tools to further enable ERA market growth.
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