Generac Selected by the U.S. Department of Energy to Receive $50 Million Award to Support Grid Resilience Through Clean Energy Solutions with California's Water Utilities
Generac Holdings (NYSE: GNRC) has been selected by the U.S. Department of Energy to receive a $50 million award as part of the Grid Resilience and Innovation Partnership (GRIP) program. The project, in collaboration with the California Water Association, aims to integrate clean energy solutions with water utilities across California, with a total investment of approximately $100 million across about 100 sites.
The initiative will focus on Disadvantaged Communities (DACs), with at least 55% of sites located in these areas. The project will implement microgrids utilizing battery energy storage and distributed energy resource management systems to form virtual power plants, enhancing grid reliability and resilience. It is expected to create 200 union construction jobs and 33 direct jobs, with 59% of project benefits directed to DACs.
Generac Holdings (NYSE: GNRC) è stata selezionata dal Dipartimento dell'Energia degli Stati Uniti per ricevere un premio di 50 milioni di dollari nell'ambito del programma di partnership per la resilienza e l'innovazione della rete (GRIP). Il progetto, in collaborazione con l'Associazione California Water, mira a integrare soluzioni energetiche pulite con i servizi idrici in tutta la California, con un investimento totale di circa 100 milioni di dollari in circa 100 siti.
L'iniziativa si concentrerà sulle Comunità Sfavorevoli (DAC), con almeno il 55% dei siti ubicati in queste aree. Il progetto implementerà microreti che utilizzano sistemi di accumulo energetico a batteria e sistemi di gestione delle risorse energetiche distribuite per formare impianti di energia virtuali, migliorando l'affidabilità e la resilienza della rete. Si prevede la creazione di 200 posti di lavoro nell'edilizia sindacale e 33 posti diretti, con il 59% dei benefici del progetto diretto alle DAC.
Generac Holdings (NYSE: GNRC) ha sido seleccionada por el Departamento de Energía de EE. UU. para recibir un premio de 50 millones de dólares como parte del programa de Asociación para la Resiliencia e Innovación de la Red (GRIP). El proyecto, en colaboración con la Asociación de Agua de California, tiene como objetivo integrar soluciones de energía limpia con servicios de agua en toda California, con una inversión total de aproximadamente 100 millones de dólares en alrededor de 100 sitios.
La iniciativa se centrará en las Comunidades Desfavorecidas (DAC), con al menos el 55% de los sitios ubicados en estas áreas. El proyecto implementará microredes que utilizan almacenamiento de energía en baterías y sistemas de gestión de recursos energéticos distribuidos para formar plantas de energía virtual, mejorando la fiabilidad y la resiliencia de la red. Se espera que cree 200 empleos en construcción sindical y 33 empleos directos, con el 59% de los beneficios del proyecto dirigidos a las DAC.
제너락 홀딩스(뉴욕증권거래소: GNRC)는 미국 에너지부로부터 5천만 달러의 보조금을 수여받기 위해 선정되었습니다. 이 프로젝트는 캘리포니아 물 협회와 협력하여 청정 에너지 솔루션을 캘리포니아 전역의 수자원 관리에 통합하는 것을 목표로 하며, 약 1억 달러의 투자가 약 100개 사이트에 걸쳐 진행됩니다.
이 이니셔티브는 취약 지역 사회(DAC)에 초점을 맞추며, 최소 55%의 사이트가 이 지역에 위치할 것입니다. 프로젝트는 배터리 에너지 저장을 사용하는 마이크로 그리드와 분산 에너지 자원 관리 시스템을 구현하여 가상 발전소를 형성하고, 전력망의 신뢰성과 탄력성을 향상시킬 예정입니다. 이는 200개의 노조 건설 일자리와 33개의 직접 일자리를 창출할 것으로 예상되며, 59%의 프로젝트 혜택이 DAC에 전달됩니다.
Generac Holdings (NYSE: GNRC) a été sélectionnée par le Département de l'Énergie des États-Unis pour recevoir une subvention de 50 millions de dollars dans le cadre du programme de Partenariat pour la Résilience et l'Innovation du Réseau (GRIP). Le projet, en collaboration avec l'Association California Water, vise à intégrer des solutions d'énergie propre avec des services d'eau à travers la Californie, avec un investissement total d'environ 100 millions de dollars répartis sur environ 100 sites.
L'initiative se concentrera sur les Communautés Defavorisées (DAC), avec au moins 55 % des sites situés dans ces zones. Le projet mettra en œuvre des micro-réseaux utilisant le stockage d'énergie par batterie et des systèmes de gestion des ressources énergétiques distribuées pour former des centrales électriques virtuelles, améliorant la fiabilité et la résilience du réseau. Il est prévu de créer 200 emplois de construction syndiqués et 33 emplois directs, avec 59 % des bénéfices du projet dirigés vers les DAC.
Generac Holdings (NYSE: GNRC) wurde vom US-Energieministerium ausgewählt, um eine Förderung von 50 Millionen Dollar im Rahmen des Programms zur Resilienz und Innovation des Stromnetzes (GRIP) zu erhalten. Das Projekt, in Zusammenarbeit mit der California Water Association, zielt darauf ab, saubere Energielösungen mit Wasserunternehmen in ganz Kalifornien zu integrieren, mit einer Gesamtinvestition von rund 100 Millionen Dollar in etwa 100 Standorte.
Die Initiative wird sich auf benachteiligte Gemeinschaften (DACs) konzentrieren, wobei mindestens 55 % der Standorte in diesen Gebieten liegen. Das Projekt wird Microgrids nutzen, die eine Batteriespeicherung verwenden und Systeme zur Verwaltung verteilten Energieeinsatzes implementieren, um virtuelle Kraftwerke zu bilden, die die Zuverlässigkeit und Resilienz des Stromnetzes verbessern. Es wird erwartet, dass 200 Gewerbebaujobs und 33 direkte Arbeitsplätze geschaffen werden, wobei 59 % der Projektvorteile an die DACs fließen.
- Generac selected to receive a $50 million DOE award for grid resilience project
- Total investment estimated at $100 million across 100 California water utility sites
- Project expected to create 200 union construction jobs and 33 direct jobs
- 59% of project benefits directed to Disadvantaged Communities (DACs)
- Implementation of microgrids and battery energy storage to enhance grid reliability
- None.
Insights
This
- The total investment of
$100 million across 100 sites represents a substantial commitment to grid modernization. - Utilization of microgrids with battery storage and DERMS to create virtual power plants (VPPs) is an innovative approach to load management during grid stress.
- The project aligns with California's clean energy goals and addresses the state's grid challenges, including aging infrastructure and extreme weather events.
- With
55% of sites in DACs, the project demonstrates a strong focus on environmental justice and equitable energy distribution.
This initiative could serve as a model for other states facing similar grid resilience challenges, potentially opening up new market opportunities for Generac in the utility-scale clean energy sector.
This DOE award represents a significant business opportunity for Generac, with several positive financial implications:
- The
$50 million grant, part of a larger$100 million project, provides substantial revenue potential in the growing clean energy sector. - It strengthens Generac's position in the critical infrastructure market, particularly in California, a key state for renewable energy initiatives.
- The project's focus on microgrids and VPPs aligns with Generac's strategic shift towards energy technology solutions, potentially driving long-term growth.
- With an estimated 200 union construction jobs and 33 direct jobs created, the project could enhance Generac's reputation and open doors for future government contracts.
- The
$27 million contract with underrepresented businesses demonstrates commitment to diversity, which can positively impact ESG ratings and investor perception.
This award could serve as a catalyst for Generac's expansion in the utility-scale clean energy market, potentially leading to increased market share and revenue diversification.
The project will invest in approximately 100 sites across
Generac, in collaboration with the California Water Association (CWA), aims to integrate clean energy solutions with water utilities statewide. The total investment is estimated to be approximately
"We've been providing reliable backup power solutions to critical infrastructure, such as water and wastewater utilities, in
Under the project, microgrids, which will utilize battery energy storage and be managed by distributed energy resource management systems (DERMS), will form virtual power plants (VPPs) capable of delivering reliable load reduction during times of grid stress. Additionally, the project, with at least
"I am thrilled Generac Power Systems project has been selected for funding and thank the
"Made possible through our close partnership with Generac Power Systems, the California Water Association and our members are honored to be beneficiaries of this
The project will create an estimated 200 union construction jobs and 33 direct jobs, contract approximately
For more information, visit the following link https://www.energy.gov/sites/default/files/2024-10/Generac_Power_Systems_GRIP2_Fact_Sheet.pdf for a background document on the project.
About Generac
Generac Power Systems (NYSE: GNRC) is a leading energy technology company that provides backup and prime power products and energy storage systems for home and business applications, as well as energy monitoring and management devices and services, along with other power products. Founded in 1959, Generac introduced the first affordable backup generator and later created the automatic home standby generator category. The Company has continued to expand its energy technology offerings in its mission to lead the evolution to more resilient, efficient, and sustainable energy solutions.
Media Contact: Jonathan Stern
Jonathan.Stern@Generac.com | (312) 402-7167
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SOURCE Generac Power Systems, Inc.
FAQ
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