New FERC Order expands the reach of demand response

Posted on by Kelly Yazdani

This past Thursday, the Federal Energy Regulatory Commission (FERC) ruled to unify the treatment of distributed energy resources. Up to this point, states could opt-out, banning the participation of distributed resources in the wholesale power markets serving their local customers. What this meant practically for large commercial, industrial, and institutional organizations was that sites in certain states could not capitalize on their operational flexibility. According to Gregg Dixon, Voltus CEO, this historic FERC ruling “eliminates the antiquated local barriers that have prevented these distributed energy resources from delivering and receiving value in every wholesale power market in the United States.” Put simply, states can no longer opt-out.

Jon Wellinghoff, the former FERC Chairman commonly referred to as the “godfather” of demand response, also puts this ruling into perspective. “This ruling is the single most important decision in FERC history. By cementing the place of distributed energy resources in wholesale markets, we have taken a leap toward ensuring reliable grids and a clean energy future.” Wellinghoff, who refers to demand response as the “skeleton key” of the clean energy transition, speaks openly about the need for this balancing resource to allow for the widespread adoption of renewable energy.

Yet our work is not done. It will be 90 days before this ruling is written into law, and wholesale market operators then have up to nine months to submit compliance filings on how to modify the tariffs to enable these resources. Voltus is working closely with the appropriate grid operators to expedite implementation, expanding the financial opportunities for multi-site customers, as well as single-site organizations within these localities. Despite these short-term limitations, Dixon writes that the long term vision for Voltus is clear: “Our team and platform are ready to accelerate the energy transition, unlocking the value of distributed energy resources in every state.”

Interested in cashing in on your operational flexibility? Reach out to our team at info@voltus.co to learn more about the opportunities available to your organization.

Speaking Truth to Power

Posted on by Voltus

“Can you give me an example of when you’ve ‘spoken truth to power’ either in your professional or personal life and what that experience was like?” That’s the final question Matt and I ask any candidate wanting to be part of the Voltus team. If you’re asked that question, you’re an incredibly strong candidate. Answer it well and you receive an offer. Answer it poorly and – despite whatever other credentials you have – we are forced to pass.

Why is it so important to us? There are four reasons:

  1. We want to hire people who are more bright, more gritty, and more good than us. That’s really hard to know unless they’re the kind of person willing to tell the CEO and President what they’re really thinking: about our good ideas, our half-baked ideas, or our bad ideas. And, boy, can we come up with some bad ideas! Those willing to speak truth to power are bright – they bring a solution and not just a problem – they are gritty – they have an inner drive to champion a better way – and they are good – they speak truth to power (understanding that we must all bring out each other’s best) especially to those with a responsibility to lead.
     
  2. The only way we get better as a team is by coaching each other constantly and bringing a better solution to the table every day. We built a company around a strong vision, a strong set of values, and a strong offer for customers. Yet, we know all of it is flawed, much like an artist might cringe at their painting despite countless hours toiling over the final brush strokes of its completion. At the risk of parodying ourselves a la this week’s episode of “Silicon Valley,” we embrace the concept of radical candor (challenging directly, caring personally) because it is consistent with our values of love and compassion. When you meet a person who is willing to put their own neck on the line to help you be better, that’s a special someone.
     
  3. Our product, demand response, is a product that speaks truth to power. It is the demand side of a supply/demand market equation that has traditionally and heavily favored supply resources – large central power plants (e.g., nuclear, coal) that also have an outsized voice in energy markets and regulatory arenas. These forces run deep at regional transmission operator (RTO) forums, within state PUCs/PSCs, and at the federal level where incumbent resources are often propped up despite being obsolete. We are the folks who spearheaded and won the FERC 745 battle at the Supreme Court of the United States. The grit and determination, the willingness to speak truth to power, that it took to wage a battle with odds of winning being less than 1% (knowing it was the right battle to fight) is what we look for in a Voltan.
     
  4. Our prospective customers are generally of two types: never heard of demand response or they’ve been doing it for years. Those who have never heard of it require us to be vocal proponents of doing something differently that delivers cash to their bottom line. Those who have been doing it for years often think they’re getting the most dollars from their participation. In both instances, we need our team to stick their toe in the door to evangelize why that customer should work with Voltus before that door is shut in their face. People who shy away from rejection or conflict don’t last long in that environment. They’re willing to challenge conventional thinking or experiences.

If you want to be a Voltan, you need to be really good at speaking truth to power. You need to be a vocal champion for ideas worth spreading. You need to stand up for those who can’t stand up for themselves. You need to be the kind of person willing to punch a bully in the nose. You see your role in the world as an agent of positive change and you’re ready to get into the arena and go to battle for it.

Please share your experiences speaking truth to power in the comments below or send us an email with your thoughts on the topic.

Gregg and Matt

When $10 Million Shows Up in Your Bank Account . . .

Posted on by Voltus

Today, Voltus got a little pocket money (PR Newswire). It’s creating quite a bit of buzz in the industry (Greentech Media) and we’re grateful for the attention it’s getting.

The back story is pretty simple: a few of us put our nose to the grindstone for a year, built a great technology, signed up a bunch of customers, generated profits, and attracted the interest of investors who really liked the focused business model we developed to attack a huge, underpenetrated market where the competition wasn’t innovating or fully serving customers.

But what’s the secret to our success and how do we plan to extend this success with $10 million in the bank? First, our success to date is simply a matter of attracting bright, gritty, and good people who are passionate about solving energy challenges. Second, our vision is simple: deliver more demand response dollars to the bottom line for our customers than anyone in the industry . . . less energy, more cash. Put the people and the vision together and get out of the way!

This simple model has us doing three things: we build product, we sell product, and we deliver cash to customers. This aligns with how we differentiate: we have a best-in-class technology platform that unlocks every possible revenue stream for our customers, we have a transparent, no-cost, no-risk, single page commercial agreement that makes it easy for our customers to do business with us, and we are world leaders in understanding energy markets and demand response which allows us to more than double the value customers get from what they’ve been doing in the past.

So, for our part, Matt and I sell. We evangelize. That’s us at the Crowne Plaza in Springfield, Illinois last week in the midst of a Monday morning through Friday evening road trip. We crossed paths in Springfield, signed our funding documents, snapped a pic with the front desk attendant, and went our separate ways, Matt to Peoria, I to Champaign-Urbana. We’ll sign up a dozen or so new customers from that trip.

We’re pretty sure that our competition’s CEO and President don’t do this. We’re pretty sure they don’t commit to delivering 100 MW individual sales quotas each year. Because selling is hard, yet it’s the single most valuable thing a company does in a growing market. And Matt and I love to do it . . . we love to meet our customers . . . at their steel plants, their wastewater treatment plants, their grocery stores, their data centers . . . we love to see the pride they take in their work . . . we love to forge new friendships . . . we love to learn about their unique challenges . . . we love to tell the Voltus story . . . and we love to pay our customers to use our product to help them make their businesses stronger.

Our team has a clear plan on how to turn that $10 million into $100 million in short order by delivering exceptional value to customers. You can be sure that Matt and I will be on the road doing our part to help our team get the cash to the customers.

Giddy up!