Consumers Energy Selected by U.S. Department of Energy for Nearly $20 Million to Add Real-Time Visibility to Grid

Rhea-AI Summary

Consumers Energy has been selected by the U.S. Department of Energy for a nearly $20 million financial assistance award to deploy new technology providing real-time visibility into the grid and help integrate electric vehicles into Michigan's electric grid. This commitment will be matched by $20 million from Consumers Energy, totaling nearly $40 million for the project.

The company plans to add AI-powered modules to 18,000 electric meters used by Michigan EV owners, providing real-time data analytics and predictions to better understand the impact of EVs on the electric grid. Consumers Energy is partnering with Utilidata to deploy custom NVIDIA modules, bringing cutting-edge AI capabilities to the electric grid. Over half of the devices will be placed in economically disadvantaged communities.

This initiative aligns with Consumers Energy's Clean Energy Plan, which aims to eliminate coal as an energy source by 2025 and achieve net-zero carbon emissions.

Positive

• Received nearly $20 million in federal funding for grid modernization
• Matching $20 million investment from Consumers Energy, totaling $40 million for the project
• Deploying AI-powered modules to 18,000 electric meters for real-time data analytics
• Partnership with Utilidata to bring cutting-edge AI capabilities to the electric grid
• Focus on economically disadvantaged communities with over half of the devices placed there
• Aligns with Clean Energy Plan to eliminate coal by 2025 and achieve net-zero carbon emissions

Negative

• None.

News Market Reaction – CMS

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+0.39% News Effect

On the day this news was published, CMS gained 0.39%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

18,000 Devices Could Measure Impact of Electric Vehicles

JACKSON, Mich., Oct. 18, 2024 /PRNewswire/ -- The U.S. Department of Energy today selected Consumers Energy to receive a nearly $20 million financial assistance award to deploy new technology and provide real-time visibility into the grid and help integrate electric vehicles into Michigan's electric grid. The commitment will be matched by $20 million from Consumers Energy as it powers Michigan's EV transformation.

Consumers Energy will use the nearly $40 million to add artificial intelligence-powered modules to 18,000 electric meters that are used by Michigan EV owners, providing real-time data analytics and predictions to better understand the impact these vehicles have on the electric grid.

"Consumers Energy is building a stronger grid and a smarter one that will seamlessly power the next generation of clean vehicles," said Lauren Snyder, Consumers Energy's vice president of customer experience. "This allows us to quickly put the latest in technology to work, as we accommodate growing numbers of EVs parked in driveways across our state."

The new federal funding comes through the U.S. Department of Energy's Grid Resilience and Innovation Partnerships (GRIP) Program, which supports the modernization of the nation's electric grid.

Consumers Energy is partnering with AI technology company Utilidata to deploy custom NVIDIA modules, bringing cutting edge AI capabilities to the electric grid. Utilidata manufactures in Michigan at their innovation lab in Ann Arbor and in collaboration with Brooks Utility Products in Novi.    

The effort will place over half of the devices in economically disadvantaged communities, enabling Consumers Energy to better understand EV adoption and customize customer programs to meet those communities' needs.

Consumers Energy also is partnering with General Motors, the University of Michigan Transportation Research Institute, the Electric Power Research Institute and others to deploy AI-enabled grid-edge analytics.

"Utilidata is proud to expand our presence in Michigan by partnering with industry leader Consumers Energy," said Utilidata President and Chief Operating Officer Jess Melanson. "Utilidata's distributed AI technology will equip Consumers Energy with the tools needed to integrate more distributed energy resources and ensure the electric grid is efficient and reliable for their customers."

Consumers Energy is making EV ownership more affordable and convenient wherever people drive their vehicles in Michigan. Electric vehicles will be powered by an electric grid that is moving fast to become carbon neutral.

Consumers Energy is Michigan's largest energy provider, providing natural gas and/or electricity to 6.8 million of the state's 10 million residents in all 68 Lower Peninsula counties. Consumers Energy's Clean Energy Plan calls for eliminating coal as an energy source in 2025, achieving net-zero carbon emissions and meeting 90% of customers' energy needs through clean sources, including wind and solar.

For more information about Consumers Energy, go to ConsumersEnergy.com.

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FAQ

What is the value of the financial assistance award Consumers Energy received from the U.S. Department of Energy?

Consumers Energy received a nearly $20 million financial assistance award from the U.S. Department of Energy.

How many AI-powered modules will Consumers Energy (CMS) deploy for electric vehicle monitoring?

Consumers Energy plans to deploy AI-powered modules to 18,000 electric meters used by Michigan EV owners.

What is the total investment for Consumers Energy's (CMS) grid modernization project?

The total investment for the project is nearly $40 million, with $20 million from the U.S. Department of Energy and a matching $20 million from Consumers Energy.

Which company is Consumers Energy (CMS) partnering with for AI technology in this project?

Consumers Energy is partnering with Utilidata to deploy custom NVIDIA modules for AI capabilities in the electric grid.