C56 10b Virtual Power Plant utilization to drive Energy Efficiency & Power Market Optimization for Multifamily Buildings

Multifamily buildings are a major source of energy consumption and greenhouse gas emissions, and energy efficiency retrofits can be challenging due to split incentives between building owners and tenants. In addition, the complex and changing electricity market landscape creates barriers to effective demand response for building operators and utilities. Multifamily buildings account for a significant portion of the electricity consumption in urban areas, leading to high energy bills for low- and moderate-income residents, who often reside in these buildings. However, there are limited solutions available for reducing energy consumption and costs in these buildings while also supporting the grid. This project aims to develop and test a virtual power plant platform that leverages distributed energy resources to improve energy efficiency, and reduce costs for all, while providing grid support. The project also involves engaging the local community and partnering with a university to ensure the platform is accessible and beneficial for all stakeholders. In Phase I, the team will assess the technical, economic, and regulatory feasibility of the proposed virtual power plant platform. The study will also evaluate the potential benefits and impacts of the platform for the multifamily buildings, the local grid, and the broader community. If the project is carried over into Phase II and beyond, the virtual power plant platform will provide significant benefits for multifamily building residents, building owners, utilities, and the grid. These benefits include decreased carbon dioxide emissions stemming from burning of fossil fuels, reduced energy costs, improved energy efficiency, increased renewable energy integration, and enhanced grid reliability and resiliency. In addition, the project will leverage a leading open-source building-grid integration software platform developed by a national lab, which will have broader applications in the energy industry.