The Department of Energy, through its Grid Deployment Office and the Grid Infrastructure Deployment and Resilience program (CFDA 81.254), awarded a $72,553,853 Project Grant to PNM (Public Service Company of New Mexico and Subs) on January 1, 2025. The purpose of this grant is to design and implement a Virtual Power Plant (VPP) solution that improves grid stability and reduces customers' electricity bills through smart grid technology, data aggregation software, and financial incentives. The key objectives of the VPP project are to: 1) Increase visibility into and ability to leverage small, intermittent energy resources to better manage the grid; 2) Incentivize customers to enroll in VPP programs that reduce electricity bills and rates; and 3) Provide a market for third-party aggregators to partner in the transition to a carbon-free grid. The project is scheduled for completion by December 31, 2029.
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