Convergent Energy + Power has built a first-of-its kind energy storage system — to reduce peak demand charges — at Husky Injection Molding Systems Ltd. in Bolton, Ontario.
Convergent officials said the charges, known as Global Adjustment Demand charges, account for up to 70 percent of electricity bills for some customers in Ontario. They anticipate the storage system can reduce electricity costs on the load by 15-30 percent per year, starting in 2018.
“We deploy energy storage to reduce electricity costs for our customers under a shared savings agreement,” said Convergent CEO Johannes Rittershausen. “That means we handle all the cost and risks of building and managing the project, and the customer shares in the savings created. If we do not deliver, our customers do not pay.”
The system at Husky is designed specifically for the maker of injection molding machinery.
Convergent installed Lockheed Martin's GridStar lithium-ion battery systems.
“We look forward to realizing significant savings from this system to help us remain competitive over the long term,” said Robert Meek, Husky's director of global facilities. “This battery system is a crucial part of our innovative, forward-looking strategy to decrease both operating costs and our overall environmental impact.”
