| | December 202019with CVP are transformed into virtual power stations that precisely balance electricity consumption when energy waste and dirty energy use is highest--peak demand times," explains JK Kim, CEO of MicroNOC. These CVP equipped virtual power stations can also help mitigate electricity grid congestion times and enable energy suppliers to transition into a cleaner energy grid with less waste. Moreover, CVP is in accordance with the FERC Order 841, which states that barriers to distributed and behind-the-meter energy storage participating in wholesale electricity markets are to be removed.More importantly, MicroNOC's innovative solution leverages existing infrastructure, which eliminates the need for investment into upgrading/replacing existing peaker plants, transmission and distribution lines. This ensures a win-win situation as utilities do not have to pay the high operating costs of peaker plants to meet demand during peak hours and customers save on electricity bills. Customers also don't need to buy any equipment and instead enter into a service agreement with MicroNOC (minimum of 5 years) for a guaranteed 25 percent or more savings on their utility bills. CVP enables the use of fossil fuels sparingly and thus helps reduce the carbon footprint. For instance, in California, every year, approximately 23 million tons of carbon dioxide is produced to mitigate 18 gigawatts of congested demand. MicroNOC's CVP can offset 1300 metric tons of carbon dioxide per one megawatt. On top of maximizing savings on utility bills for customers, CVP allows clients to supply the excess stored energy back to the grid. In 2021, MicroNOC intends to roll out a program that will allow clients to contribute a percentage of the returns gained from supplying the stored energy to the grid back to the community as part of corporate social responsibility. And to promote positive dialogue between corporations and the community, MicroNOC is building a software platform so that a beneficiary and contributor can communicate about the positive experience related to the donation. In addition to helping secure a greener future, MicroNOC also eliminates the huge costs related to decreasing carbon emissions that would have been otherwise indebted to future generations. Moving forward, MicroNOC plans to enhance its energy management system and software platform to support 1.5-gigawatt projects by 2025. Mr Kim believes that CVP is an innovative solution with the potential to immensely benefit society and optimize the energy grid for both present and future generations to come. MicroNOC's Clean Virtual PowerStation (CVP) helps reduce energywaste and the use of dirty energyon the electric grid
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