GridMarket: Simplified and Cost-Effective Distributed Energy Solutions

GridMarket: Simplified and Cost-Effective Distributed Energy Solutions

Nicholas Davis, CEO, GridMarketNicholas Davis, CEO
When GridMarket, a distributed energy project facilitation firm, began operating in New York City, its motive was clear: help clients identify the best clean energy technology to reduce operating costs and carbon emissions. “We do not sell any technology, but take a technology-agnostic approach to ensuring that clients receive a solution that guarantees the best financial and environmental returns,” states Nicholas Davis, CEO, GridMarket. The company helps clients by assessing each unique opportunity and recommending the best-fit solutions. The company’s strategy involves profiling buildings of all types and sizes to identify opportunities for technologies including solar PV, battery storage, combined heat and power, fuel cells, and more.

The driving force behind GridMarket’s offering is the company’s recommendation platform. Built from the ground up, the platform contains a searchable database where over 5.4 million building profiles are curated from a mix of actionable property data. Profiles are run through the platform’s proprietary recommendation algorithm, and the predictive analytics engine identifies suitable technologies and system sizes and calculates anticipated cost-savings. The platform is inherently scalable, as the profiling methodology can be applied to any location to help achieve a variety of stakeholder goals. The platform is also leveraged by cities, states, and countries to enact carbon reduction plans, and by utilities to target customers in demand-constrained regions. To secure the profiling data, the platform features custom logins for every user.

The GridMarket platform is transforming traditional project feasibility and design standards by essentially automating the laborious consultative process where buildings were surveyed manually to recommend solutions. The platform allows GridMarket to make instantaneous recommendations by merely keying in a client’s address, translating to immense savings on cost and time. “The GridMarket platform is both a planning tool and a bidding platform for deploying and installing renewable energy and supporting technologies,” remarks Davis.

The GridMarket platform is both a planning tool and a bidding platform for deploying and installing renewable energy and supporting technologies

Energy consumers are able to solicit bids based on the provided recommendations through the platform’s transaction portal, and GridMarket will gather best-in-class proposals with competitive pricing from approved solutions providers on the customer’s behalf.

GridMarket’s prowess has won the attention of numerous enterprises. The company recently recommended a battery storage installation at Marcus Garvey Village, a New York-based low-income housing facility, creating a multi-asset microgrid with solar and fuel cell assets. The project is dramatically reducing electricity expenses and providing the property with critical onsite backup generation. GridMarket was also able to help a Fortune 500 institution revive a project at a data center that was stalled due to financing challenges. The platform recommended additional feasible technologies for the site, and the updated mix of energy solutions produced compelling project economics.

In addition to a portfolio of successful private sector projects, GridMarket recently announced the formation of a public-private partnership with the Republic of Palau, an island nation in the Pacific, to transform the nation’s energy grid. Palau is determined to transition away from diesel-dependency by deploying renewables and battery storage, and the local government has set aggressive project installation and carbon reduction targets. As part of the partnership, GridMarket completed a custom iteration of the platform and recommended a strategic path forward. Now, GridMarket is helping Palau to identify ideal project sites and select technology partners. Engaging with a government to overhaul the power network of an entire country testifies to the rapid strides being made by GridMarket towards the pinnacle of success in its third year in business.

GridMarket is continuing to expand the geographical reach of the platform and focusing on providing simplified project-financing mechanisms.