– Renew Home created from Nest Renew and OhmConnect partnership
– Plans to expand to 50GW by 2030, controlling nearly 3GW currently
– Backed by $100M investment from Sidewalk Infrastructure Partners (SIP)
Renew Home, a residential virtual power plant service, has been created through a partnership between Google’s Nest Renew service and OhmConnect, combining millions of customers across the nation. The company already controls nearly 3GW of electrical energy use and plans to expand to 50GW by 2030, aligning with the U.S. Department of Energy’s projection for VPP growth.
Backed by a $100M investment from majority owner Sidewalk Infrastructure Partners, Renew Home aims to coordinate the energy use of millions of customers to move towards a 100% clean energy future. The company integrates with various devices and appliances in homes and works with over 100 utilities to support demand response programs.
VPPs are aggregations of distributed energy resources like smart appliances and rooftop solar with batteries that can balance electricity demand and supply while providing grid services. Many states are recognizing the potential of VPPs to reduce grid strain, with pilot projects and VPP development underway. In California, the market potential for VPPs is projected to reach 7.5 GW by 2035.
Renew Home is at the forefront of virtual power plant technology, working with partners like Google Home and Rheem to help customers save money and energy while supporting the grid. The company aims to lead the way in transitioning to a more sustainable energy future.