Prosumer-Focused Energy-As-A-Service Provider Launching Retail Electric Supplier
November 4, 2019 Email This Story Copyright 2010-19 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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David Energy, which currently offers various energy management services for buildings as well as distributed energy resource (DER) optimization, is launching a retail electric supplier as part of its vision of providing energy-as-a-service to prosumers
David Energy has stated an intent to register as a retail supplier in the NYISO and PJM and markets
David Energy states on its website, "David Energy is creating a new kind of energy company. Traditional Retail Electricity Providers are outdated, opaque, and painful for customers to engage with. We are using software driven solutions to create an entirely new way of doing business in this space and build a category defining company. Our mission is to give energy customers greater transparency and control while creating a cheaper, cleaner, more reliable electricity grid."
Concerning its retail market philosophy, David Energy states on its website, "Traditional REPs are having a hard time catering to customers in a changing energy landscape, so David Energy is pioneering a new way of providing electricity, to your benefit[.]"
David Energy indicates that it will pass-through wholesale power costs procured for customers at no mark-up
The company will position itself as linking customer-sited DERs and the wholesale market, and providing holistic energy needs on a service-based model, rather than marking-up wholesale power provided to the customer.
David Energy further states on its website:
• "We provide our customers with transparency and control over their energy bills."
• "We don’t take a markup on the power we buy for you, so you're getting wholesale prices with the protection of a fixed price contract."
• "Our software driven approach cuts on costs while simplifying your energy management process."
• "We leverage your on-site energy assets into power markets and automatically make low-risk energy procurement decisions to save and sometimes make you money."
• "We have partners that can design, finance and install DERs according to your building’s unique needs."
In its current energy management services, David Energy offers a proprietary software platform, Mycor, to offer various services and insights
"David Energy is the first electricity provider to use one unified software platform for all your building’s energy needs. Mycor ensures efficient energy consumption, transparent billing, low risk and cost energy supply contracts, local law compliance, and participates in demand response programs. It’s an all in one Energy Operating System that is easy-to-use, transparent, and gives you control over your energy bills," the company says on its website
"Mycor is a holistic, technology agnostic energy management software platform that coordinates users’ onsite energy assets such as battery storage, HVAC, cogeneration, and solar with energy markets in real-time. As a retail electricity provider, we use the information provided by Mycor to intimately understand and control user demand, which helps us intelligently procure their supply in wholesale energy markets. We can then aggregate these user assets into a 'virtual power plant' to help us transact in energy markets," David Energy says on its website
"David Energy is the first electricity provider capable of connecting Distributed Energy Resources like battery storage, solar, and natural gas generators with local and wholesale power markets with our own proprietary software platform. Mycor analyzes the full potential value stack of DERs the day ahead using machine learning–from arbitrage and demand response to ancillary services like frequency regulation–and creates an automated dispatching schedule to ensure your energy resources are being optimized to their full potential. We can leverage DERs into markets like no other energy provider can, protecting you from market volatility while delivering maximum savings," David Energy says on its website
"David Energy’s sophisticated machine learning platform makes these day to day decisions for you, taking into account everything from the weather to what’s going on in energy markets, so that you can get the best of both worlds: you save a ton on energy and take control of your usage from the utility without having to worry about it," David Energy says on its website
"Our success depends on creating innovative contract structures that integrate savings from onsite assets into traditional electricity supply contracts," David Energy says on its website
"We distill the complexity of DERs and local power markets into easy-to-understand supply contracts tailored to meet unique load profiles and carbon-free needs," David Energy says on its website
"With a deep knowledge of DER technology and insight into electricity markets, David Energy’s expert team and easy-to-use software platform make energy procurement a straightforward and transparent process," David Energy says on its website
"David Energy works with industrial sites, commercial buildings, campuses, multi-family residential and mixed-use buildings to optimize their use of DERs such as solar, storage, combined heat and power, smart thermostats and more," David Energy says on its website
"Our platform optimizes Distributed Energy resources (DERs) such as solar, storage, cogeneration, smart thermostats, and more, using our expertise to save customers money without having to pay a dime up front," David Energy says on its website
"Our energy experts and intelligent software analyze your building’s energy consumption, provide precise recommendations on steps to increase efficiency and put your portfolio on the road to regulatory compliance or carbon-free energy," David Energy says on its website
Currently, David Energy is both an aggregator in territories such as Con Edison and a Real Time Energy Manager for NYSERDA
David Energy was founded in 2017 by principals who have various backgrounds in renewable energy and distributed generation development, building automation, and energy management. James McGinniss, CEO and one of the company's co-founders, previously founded and led a team of 30+ engineers that competed in the Elon Musk led SpaceX Hyperloop Pod Competition, where teams were invited to build pods to race on a one-mile test track. McGinniss' team won the SpaceX Innovation Award, one of three teams to be recognized.