Itron and Duke Energy Florida Collaborate to Deliver Managed EV Charging Program

Rhea-AI Summary

Itron, Inc. (NASDAQ: ITRI) is teaming up with Duke Energy Florida to implement its DER Optimizer solution, which will enhance the management of residential electric vehicle (EV) charging. This initiative aims to facilitate EV charging during off-peak hours, utilizing Itron's IntelliSOURCE platform. The program will commence in Q1 2022 and last four years, offering insights into residential EV charging behaviors while aiding in grid reliability. Itron currently supports 25 utilities with over 1 gigawatt of connected load.

Positive

• Collaboration with Duke Energy Florida to implement DER Optimizer solution.
• Focus on residential EV charging management aligns with decarbonization goals.
• Potential cost savings for EV owners by incentivizing off-peak charging.

Negative

• None.

Duke Energy Florida Will Use Itron’s DER Optimizer Solution to Monitor Residential EV Charging

LIBERTY LAKE, Wash.--(BUSINESS WIRE)-- Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, and Duke Energy Florida, which supplies electrical services to 1.9 million customers throughout Florida, are collaborating to deploy Itron’s newly developed DER Optimizer solution, powered by its industry-leading demand response platform, IntelliSOURCE^®.

Itron is expanding its IntelliSOURCE platform to be the foundation of a broader distributed energy resource management solution set, in recognition of the rapidly evolving landscape of DERs that utilities need to monitor, optimize and orchestrate to maintain grid reliability and safety and meet decarbonization goals. The DER Optimizer solution is a suite of modules that enables utilities to monitor residential electric vehicle (EV) charging and manage holistic residential EV charging programs at scale.

Duke Energy Florida will use its existing instance of IntelliSOURCE Enterprise^TM to deploy the new DER Optimization modules and run a new managed EV charging program. The program will identify and provide credits for EV owners to charge their vehicles during off-peak hours. Itron is integrating with a comprehensive EV telematics platform provided by Rolling Energy Resources, which connects to cars through their native APIs (Application Programming Interfaces) to allow easy on-boarding for customers and their vehicles into the program without needing to install additional hardware or communicating charging stations.

The program will begin in Q1 2022 and run for four years. During that time, Duke Energy Florida will use Itron’s DER Optimizer to collect permissible EV charging session data in near-real time and gain insights into residential EV charging behavior.

“As the first utility to deploy Itron’s DER Optimizer solution, Duke Energy is leading the way to better manage EV charging for residential consumers in Florida. The scalable solution will enable Duke Energy Florida to accommodate future growth of electric transportation within its service territory and discover best practices for residential EV Off Peak programs,” said Don Reeves, senior vice president of Outcomes at Itron. “Understanding the supply and demand of EV charging is critical. With Itron’s DER Optimizer solution, Duke Energy Florida will have a tool to do just that.”

Itron is a proven leader in distributed energy management, with programs active at 25 utilities, representing over 1 GW of connected load and 1.5 million enrolled devices. DER Optimizer expands the capabilities of Itron’s IntelliSOURCE DER management platform to connect to and control a wide range of residential DERs, including electric vehicles, smart inverters, smart thermostats, grid-integrated water heaters, energy management systems and other devices. DER Optimizer features near-real time analytics and optimization that provide DER program managers, grid planners and grid operators with a new class of actionable insights and control capabilities designed to help utilities successfully accommodate a high penetration of DERs. To learn more, please visit the DER Optimizer product page on itron.com.

About Itron

Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.

Itron^® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220322005503/en/

Itron, Inc.

Alison Mallahan

Senior Manager, Corporate Communications

509-891-3802

PR@Itron.com

Source: Itron, Inc.

FAQ

What is Itron's DER Optimizer solution?

Itron's DER Optimizer solution is a tool designed to monitor and manage residential EV charging, helping utilities optimize energy use and grid reliability.

When will the EV charging program with Duke Energy Florida start?

The EV charging program will begin in Q1 2022 and run for four years.

How does the DER Optimizer benefit EV owners?

The DER Optimizer offers credits for EV owners who charge their vehicles during off-peak hours, reducing energy costs.

What platform is Itron using to manage the EV charging program?

Itron is using its IntelliSOURCE platform as the foundation for the DER Optimizer solution.

How many utilities currently utilize Itron's technology?

Itron supports 25 utilities, representing over 1 gigawatt of connected load.