Joule Assets has announced the availability of its Energy Reduction Asset (ERA) Market Tool, providing current analysis nationwide for the demand response industry.
Future releases from Joule Assets will target categories including energy efficiency, renewable energy and carbon reduction.
The ERA market tool is a Web-based system that will include meter and benchmarked data for those needing guidance in fine tuning a facility’s curtailment capability. In addition, the product also will provide a critical peak pricing (CPP) tariff calculator that will help users understand whether CPP is right for them.
Joule’s Demand Response Market Tool allows clients to understand demand response revenue opportunities throughout the United States. Clients enter the zip code and facility information for any site they choose, and the tool generates a Demand Response Market Opportunity Report that illustrates the money that can be earned in the local demand response markets. The Report provides an analysis (earnings, penalty risks, historical activation frequency and duration) that can be used to decide whether to participate.
Ultimately, Joule Assets wants to create financial markets for energy reduction. According to the company, when an energy consumer earns money from contracting for demand response, installing storage or distributed renewable generation, or upgrading a facility to become more energy efficient, that consumer has created an Energy Reduction Asset (ERA).
Joule Assets chose to focus the first of its Market Tools on demand response for the following reasons, according to the company:
- The market has reached a critical size and has gained legitimacy by independent system operators, utilities and regulators as an integral component to load resource balance;
- Demand response has demonstrated strong growth and is far from saturated;
- The market is served by diverse product and technology suppliers;
- The availability of financing for demand response is a key enabler;
- Regulatory mechanisms that encourage dynamic management of the electrical grid along with increasingly complex management requirements will enhance the value of these assets.