Ed. Note: Champions of Change is a weekly initiative to highlight Americans who are making an impact in their communities and helping our country rise to meet the many challenges of the 21st century.
I am truly honored to be included with such a prestigious group of innovators who are making it in America.
At Viridity Energy, we are proud to be a part of the green economy. Viridity Energy enables large electricity customers to serve as “virtual power plants” that can earn substantial revenues from wholesale electricity markets while directly benefiting from energy supply cost savings through efficient energy use. Our continued growth is based on the strategy that grounds all successful business models—first defining and then answering customer needs. Most businesses know that they want to manage their energy more efficiently to reduce costs and meet sustainability goals. But what many don’t know is that there are opportunities to not only reduce their energy burden, but also to tap into opportunities to earn revenues from wholesale markets that would otherwise have gone unused. It is connecting all of these goals with the tools to immediately take action that truly allows for an opportunity for comprehensive change.
Original American innovator Benjamin Franklin once said: “An investment in knowledge pays the best interest.” That principle is particularly important as we look at the intricacies of electricity markets. Our customers leverage our software solutions and investment in knowledge of the wholesale electricity markets to ensure that their investment in efficiency and clean energy resources also earn them handsome returns.
At Viridity, we work with large electricity customers to redefine the way they manage their energy assets. We begin by evaluating customer potential to best use their current assets in a way that will reduce peak load; reduce total energy consumption; supply valuable services to local and regional electric grids; save on retail supply costs; and earn revenues from the full range of wholesale electricity markets. We then use customizable tools to maximize the economic and environmental benefits that customers can achieve through dynamically optimized integration and management of their electrical load, storage and supply resources - while preserving the customer’s ability to advance its own core business needs.
What does this really mean? Based upon our knowledge and forecasts of the markets, we accurately project when opportunities in the wholesale power markets will arise, alert our customers to the opportunity, confirm that the customer is willing to take the opportunity, and implement the necessary action automatically, without putting additional burdens on the customer’s staff. For example, we may alert the owner of a large commercial building to the likelihood of high wholesale energy prices the next day; then, with the building owner’s consent, we have the customer’s HVAC system pre-cool the building when prices are still relatively low, so that the system can run less a little later when the price of energy is higher - without sacrificing comfort in the building. The customer earns revenue from the wholesale market as it helps to stabilize both the grid’s operations and overall energy prices.
America was built on innovation, and that innovation is based upon industry answering the call of the continual evolution of the needs and demands of the country. While some may question the strength of the green economy, our business has more than doubled in the past year alone. For the green economy—and the overall economy—to flourish, opportunities must be continually examined and innovative solutions encouraged. I congratulate all of the Champions of Change for rising to the challenges of the 21st Century to lead this country to economic recovery and prosperity.
Audrey Zibelman is the Founder, President and Chief Executive Officer of Viridity Energy, Inc.