Stem combines powerful learning software with energy storage to automate energy savings for schools, non-profits, and businesses, as well as provide grid services to utilities. For schools, non-profits, and businesses, Stem reduces monthly energy costs, predicts energy usage patterns, and deploys stored energy at precise times to drive down peak usage. For utilities, Stem provides low-cost, flexible, and dispatchable power to provide essential grid services. By using flexible hardware and intelligent software, Stem can provide value to host customers and the electric power system simultaneously. This creates value and cost savings across the entire electricity system.
Stem entered the Elemental Excelerator Demonstration Track in 2013. The company has now deployed 1 MW of energy storage across 29 customer sites on Oahu giving Hawaiian Electric access to a “battery bank” of distributed assets. Customers include schools, museums, local businesses, and larger companies. This was Stem’s first deployment to demonstrate the system-wide benefits of their energy storage technology. It supports the transformation of Hawaii’s electric grid from one dependent on fossil fuels to one that incorporates large amounts of solar and wind. At the time this project first launched in 2014, Stem was aggregating storage systems in a day-ahead demand response pilot in California for the first time. Through their subsequent Elemental Excelerator work, Stem has significantly improved its aggregation services, giving commercial customers access to demand peak shaving and allocating the remaining aggregated energy for utility grid services, proving out the viability of Stem’s dual-benefit business model.