Ideal Power Products Being Utilized to Form a Hybrid Microgrid for Island Business
June 22 2017 - 8:31AM
Ideal Power Inc., (NASDAQ:IPWR), an inventive power conversion
technology company, today announced its products will serve in a
collaborative hybrid microgrid project that will provide power to a
commercial facility on the island of Saint Croix in the U.S. Virgin
Islands. Like many buildings in the Caribbean, this facility is
completely disconnected from the central power grid and has relied
exclusively on diesel generators for power 24 hours a day. With the
deployment of Ideal Power’s six Stabiliti™ 30C3 multiport power
conversion systems that integrate solar photovoltaic and batteries,
with the existing diesel generators, the facility will be able to
reduce fuel and energy costs, and cut greenhouse gas emissions by
harnessing the power of the sun to power the facility.
The cost of electricity on the Caribbean islands averages about
50 cents per kilowatt-hour (kWh) – about three to five times that
of the mainland United States. Decades of persistently high
electricity prices, coupled with poor power quality and frequent
grid outages have contributed to the region’s high cost of business
and undercut growth in many Caribbean economies. Renewable energy
technologies hold much promise for the region by bringing a
diversification of energy sources and substantial cost
reductions.
“Our technology is enabling the deployment of clean,
cost-effective and efficient power generation in areas where there
is no reliable grid available,” said Dan Brdar, CEO of Ideal Power.
“Thanks to our multiport technology, our six power conversion units
will run in parallel to integrate solar, storage and diesel into a
hybrid microgrid that will support cost effective power generation
around the clock.”
In an effort to transition to cost-effective sustainable power
solutions, the Saint Croix-based commercial facility has called
upon innovative energy partners to lead a next-generation
solar-plus-storage project that encompasses six 33 kilowatt (kW)
photovoltaic solar arrays, three 135 kW diesel generators and a 300
kWh battery. The integration of the solar and diesel power systems
is made possible through six Stabiliti units, a compact solution
that efficiently enables bi-directional power flow between solar,
storage and diesel, all in one box.
The hybrid microgrid is part of the facility’s environmentally
progressive design, boasting high efficiency heating, ventilation
and air conditioning, 100% LED lighting, and now, solar power
generation.
“This project represents a very smart move by an off-grid
business,” said John Merritt, director of applications engineering
at Ideal Power. “Shifting to clean energy will offset costs and
enable the business to focus on providing the best experience for
its customers. We are optimistic that more island businesses and
residences will see the potential of renewable energy systems to
boost energy conservation and save on costs.”
About Ideal Power Inc.Ideal Power (NASDAQ:IPWR)
is a power conversion technology company that delivers efficient
and compact solutions to system integrators and project developers
to connect distributed energy resources to the grid. Ideal Power’s
products offer enhanced performance for battery-enabled
applications at a competitive cost, backed by first-rate customer
service. With its patented power conversion technology, Ideal Power
supports a broad set of growing markets, including solar
photovoltaics, battery energy storage, mobile power and microgrids.
For more information, visit www.IdealPower.com.
Safe Harbor StatementAll statements in this
release that are not based on historical fact are "forward looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 and the provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. While management has
based any forward looking statements included in this release on
its current expectations, the information on which such
expectations were based may change. These forward looking
statements rely on a number of assumptions concerning future events
and are subject to a number of risks, uncertainties and other
factors, many of which are outside of our control that could cause
actual results to materially differ from such statements. Such
risks, uncertainties, and other factors include, but are not
limited to, whether the patents for our technology provide adequate
protection and whether we can be successful in maintaining,
enforcing and defending our patents, whether a demand for energy
storage products will grow, whether demand for our products, which
we believe are disruptive, will develop and whether we can compete
successfully with other manufacturers and suppliers of energy
conversion products, both now and in the future, as new products
are developed and marketed. Furthermore, we operate in a highly
competitive and rapidly changing environment where new and
unanticipated risks may arise. Accordingly, investors should not
place any reliance on forward-looking statements as a prediction of
actual results. We disclaim any intention to, and undertake no
obligation to, update or revise forward-looking statements.
Ideal Power Media Contact:
Antenna
Kalena Gravina
idealpower@antennagroup.com
1.201.465.8013
www.antennagroup.com
Ideal Power Inc. Investor Relations Contact:
MZ North America
Chris Tyson
IPWR@mzgroup.us
1.949.491.8235
www.mzgroup.us
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