Willdan’s LoadSEER Software Selected to Provide Advanced Load Forecasting for Eversource Massachusetts

Rhea-AI Summary

Willdan Group, Inc. (NASDAQ: WLDN) announced that Eversource will implement LoadSEER software in Massachusetts for enhanced load forecasting and grid planning. This enterprise software license enables Eversource to analyze distributed energy resource adoption and perform scenario analyses on grid impacts from electric vehicles and solar energy. LoadSEER's new data scrubber feature improves data accuracy, reducing processing costs. Willdan's support aims to improve grid reliability as energy patterns evolve. The press release highlights the software's potential for accurate forecasting and effective grid planning.

Positive

• Eversource to implement LoadSEER software for advanced load forecasting in Massachusetts.
• Software enhances data quality and forecasting capabilities, saving time and money.
• Willdan's commitment to facilitating accurate forecasts and supporting Eversource's planning needs.

Negative

• Dependence on Eversource's data and forecasting accuracy could pose risks.
• Potential challenges in integration and timely project completion may affect performance.

ANAHEIM, Calif.--(BUSINESS WIRE)-- Willdan Group, Inc. (NASDAQ: WLDN) announced today that Eversource will deploy the latest version of Integral Analytics’ LoadSEER software in Massachusetts to support advanced load forecasting and grid planning. Willdan will assist Eversource in analyzing distributed energy resource (DER) adoption rate and load forecasting for Eversource throughout Massachusetts. Integral Analytics is Willdan’s wholly owned software subsidiary.

This enterprise software license will allow Eversource to use LoadSEER to perform alternative scenario analyses of grid load impacts for various adoption rates of electric vehicles, distributed solar, and battery energy storage. They will also use the software to model vehicle travel and to conduct 8760-scenario load forecasting. LoadSEER recently integrated a data “scrubber” feature that improves the quality and forecasting potential of utilities’ raw data, saving utilities time and money usually spent on data processing. Eversource will leverage LoadSEER to help predict the future evolution of transit patterns in Eversource’s Massachusetts territory.

“Power reliability is increasingly important to our customers,” said Gerhard Walker, Eversource’s Principal Engineer of System Planning. “This new software tool will allow our grid planners to continue to improve reliability through quicker, more informed decisions as our grid expands and transportation patterns change.”

“Willdan is excited to support Eversource’s grid planners with a single, time-tested source for all of their forecasting and planning needs,” said Tom Brisbin, Willdan’s CEO and Chairman. “This contract is an example of our commitment to facilitating accurate demand forecasts and making complex grid planning decisions easy for our customers. Our software can use a variety of customer and third-party data sets with our data analysis tools to create highly accurate forecasts.”

About Eversource

Eversource (NYSE: ES), celebrated as a national leader for its corporate citizenship, is the #1 energy company in Newsweek’s list of America’s Most Responsible Companies for 2021 and recognized as one of America’s Most JUST Companies. Eversource transmits and delivers electricity and natural gas and supplies water to 1.8 million customers throughout Massachusetts, including approximately 1.45 million electric customers in 142 communities, 635,000 gas customers in 110 communities, and 6,700 water customers in two communities. Eversource harnesses the commitment of approximately 9,300 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service. The #1 energy efficiency provider in the nation, the company is empowering a clean energy future in the Northeast, with nationally recognized energy efficiency solutions and successful programs to integrate new clean energy resources like solar, offshore wind, electric vehicles and battery storage, into the electric system. For more information, please visit www.eversource.com.

About Willdan

Willdan is a nationwide provider of professional technical and consulting services to utilities, government agencies, and private industry. Willdan’s service offerings span a broad set of complementary disciplines that include electric grid solutions, energy efficiency and sustainability, engineering and planning, and municipal financial consulting. For additional information, visit Willdan's website at www.willdan.com.

Forward-Looking Statements

Statements in this press release that are not purely historical, including statements regarding Willdan’s intentions, hopes, beliefs, expectations, representations, projections, estimates, plans, or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk that Willdan will not be able to reduce costs and preserve liquidity to maintain its operations during the continuation of this pandemic nor be able to resume its growth trajectory once pandemic-related restrictions are lifted and the economy begins to recover. It is important to note that Willdan’s actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the ultimate impact of the COVID-19 pandemic on Willdan’s results, prospects, and opportunities; Willdan’s ability to adequately complete projects in a timely manner; Willdan’s ability to compete successfully in the highly competitive energy efficiency services market; changes in state, local, and regional economies and government budgets; Willdan’s ability to win new contracts, to renew existing contracts, and to compete effectively for contract awards through bidding processes; and Willdan’s ability to successfully integrate its acquisitions and execute on its growth strategy. Willdan’s business could be affected by a number of other factors, including the risk factors listed from time to time in Willdan’s reports filed with the Securities and Exchange Commission, including, but not limited to, the Annual Report on Form 10-K filed for the year ended January 1, 2021. Willdan cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Willdan disclaims any obligation to, and does not undertake to, update or revise any forward-looking statements in this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211117005587/en/

Al Kaschalk

VP Investor Relations

310-922-5643

akaschalk@willdan.com

 

Source: Willdan Group, Inc.

FAQ

What is the purpose of LoadSEER software for Eversource in Massachusetts?

The LoadSEER software will assist Eversource in analyzing distributed energy resource adoption rates and performing advanced load forecasting for grid planning.

How does Willdan Group support Eversource's grid planning?

Willdan Group provides the LoadSEER software, which enables scenario analyses for grid load impacts and improves forecasting capabilities.

What are the benefits of LoadSEER's new data scrubber feature?

The data scrubber feature enhances the quality of raw data, improving forecasting potential and reducing time and costs for utilities.

What is the potential impact of LoadSEER on Eversource's operations?

The software aims to improve decision-making and grid reliability as energy consumption patterns change in Massachusetts.

Is there any risk associated with the deployment of LoadSEER?

Yes, risks include the reliance on accurate data from Eversource and potential challenges in integrating the software effectively.