Company sees tremendous growth fueled by partnerships with leading energy technology companies
SAN FRANCISCO–(BUSINESS WIRE)–#VPPs—Leap, the leading virtual power plant (VPP) platform, announced today it has surpassed 175,000 customer meters and 1 GW of customer load authorized on its platform, representing energy resources from over 75 technology partner companies. Following Leap’s latest capital raises totalling $16M, these new milestones reflect the continued advancement of Leap’s software platform as well as the company’s rapid expansion across California, Texas, New York, Massachusetts and Rhode Island.
Leading energy technology companies such as SolarEdge, Generac, EnergyHub, Sunrun and Nuvve partner with Leap to aggregate and monetize their energy assets as virtual power plants (VPPs). Through Leap’s software-only solution, companies can quickly connect distributed energy resources (DERs), such as battery storage systems, electric vehicles, smart thermostats and building management systems, to multiple energy markets in order to earn revenue in demand response and other grid services programs.
“Industry leaders choose Leap because we offer the fastest, easiest pathway to stand up VPPs across multiple markets,” said Thomas Folker, Leap CEO and Co-Founder. “The U.S. Department of Energy’s recent Pathways to Commercial Liftoff: Virtual Power Plants report calls for tripling the scale of VPP deployment by 2030. Thanks to Leap’s best-in-class technology, deep expertise in energy markets and partnerships with major technology brands, we are well-positioned to significantly advance that goal.”
Leap’s automated, technology-agnostic platform offers turnkey market access for both residential and commercial energy resources. Since launching in 2017, Leap has continued to build new product features to facilitate the fastest path to creating new value from DERs, such as Leap Connect, an app that reduces the complexity of customer meter authorizations by streamlining the process into a few simple clicks.
“SolarEdge’s grid-interactive technologies increase customer profit from surplus solar. This higher customer savings is driving strong demand for our home batteries and EV chargers, while cutting harmful pollution and emissions,” said Amir Cohen at SolarEdge. “Our Leap partnership boosts savings for solar system owners and furthers SolarEdge’s leadership in the smart energy transformation.”
Leap is the leading platform for generating new value from distributed energy resources (DERs) through integration with energy markets. Through its software-only solution, Leap facilitates fast, easy and automated access to high-value grid services revenue streams for the providers of batteries, electric vehicle charging, smart thermostats, HVAC systems and other flexible assets. By aggregating the DERs enrolled on its platform, Leap supplies virtual power plants (VPPs) to balance the grid. Leap enables its partners and their customers to unlock new value streams and help create a more flexible, resilient grid powered by renewable resources.