Ambitious, Multi-Application Program Unlocking Value for Consumers and Raising the Bar for Smart Grid Programs
Redwood City, CA – January 9, 2015 – Silver Spring Networks (NYSE: SSNI) today congratulated customer Hawaiian Electric Company on the speed and breadth of its deployment for the initial phase of its smart grid program, which is now complete. Hawaiian Electric’s comprehensive smart grid program is leveraging Silver Spring’s smart grid networking platform to deploy multiple applications atop a single network, which includes Advanced Metering Infrastructure, Conservation Voltage Reduction, Distribution Automation, Demand Response, Customer Portal, and a Pre-Pay Program.
“Hawaiian Electric is driving one of the industry’s most ambitious smart grid programs and they are demonstrating what the ‘utility of the future’ model will look like,” said Steve Ingram, Vice President, Global Delivery, Silver Spring Networks. “Using Silver Spring’s multi-application network, Hawaiian Electric has also set a new bar for engaging with consumers, including the speed and breadth of the deployment and how to deploy an array of applications to deliver value that translates into greater savings, increased reliability and distributed generation, supports solar and wind interconnection, and gives consumers the tools to better manage their energy use today.”
“We are committed to quickly implementing the industry’s top technology to help the residents of Hawaii save money, experience improved service, and meet our renewable energy goals,” said Dan Giovanni, Senior Vice President of Operations, Hawaiian Electric. “The Silver Spring smart grid platform has proven it will meet our grid modernization needs today and for the future. Our strategic partnership with Silver Spring has created new opportunities for collaboration in the smart grid community and helped us to effectively manage costs and risks while moving quickly.”
Silver Spring’s smart grid platform enables Hawaiian Electric to quickly and cost-effectively deploy a wide array of applications on a single network, including:
- Advanced Metering Infrastructure: Two-way communication system providing customers and Hawaiian Electric with robust, near real-time, detailed information about energy use. It provides the foundation for the benefits derived from other smart grid applications.
- Conservation Voltage Reduction: In conjunction with Dominion Voltage Inc’s EDGE™ software, the Silver Spring UtilityIQ™ Voltage Optimizer allows Hawaiian Electric to more accurately control the level of power delivered to the end-consumer, which improves the efficiency of both the grid and devices.
- Customer Portal: An internet-based portal available to residential, small business and commercial customers who have a smart meter installed, the Silver Spring CustomerIQ™ portal highlights usage in 15-minute increments. Customers can view their consumption, estimate their monthly usage, and receive tips for decreasing energy consumption.
- Demand Response and Direct Load Control Switches: In support of Hawaiian Electric’s growing Demand Response program, as many as 250 customers are piloting load control switches with two-way communication and under-frequency control to help manage demand for renewable energy sources such as wind or solar.
- Distribution Automation: Offers increased grid reliability and more rapid response in the event of an outage through Fault Circuit Indicators and automated switching.
- Pre-pay: Leveraging innovation from SmartGridCIS, the program will provide customers with the flexibility to pay for electricity before they use it, while avoiding the need for deposits.
Additionally, Silver Spring and Hawaiian Electric worked with partner Blue Planet Foundation to educate Hawaii consumers on the environmentally friendly initiatives achieved by Hawaiian Electric through smart grid technology. Expanded deployment in Hawaiian Electric’s service territory is pending regulatory approval.
Join the Silver Spring Networks Conversation
- Read more on the Silver Spring Blog
- Follow @SilverSpringNet on Twitter
- Like Silver Spring Networks on Facebook at facebook.com/silverspringnetworks
About Silver Spring Networks
Silver Spring Networks is a leading networking platform and solutions provider for smart energy networks. Silver Spring’s pioneering IPv6 networking platform, with over 20 million Silver Spring enabled devices delivered, is connecting utilities to homes and business throughout the world with the goal of achieving greater energy efficiency for the planet. Silver Spring’s innovative solutions enable utilities to gain operational efficiencies, improve grid reliability, and empower consumers to monitor and manage energy consumption. Silver Spring Networks customers include major utilities around the globe such as Baltimore Gas & Electric, CitiPower & Powercor, Commonwealth Edison, CPS Energy, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric, Pepco Holdings, Progress Energy and Singapore Power, among others. To learn more, please visit www.silverspringnet.com.
Silver Spring Networks
This press release contains forward-looking statements about Silver Spring Networks’ expectations, plans, intentions, and strategies, including, but not limited to statements regarding the scope and benefits of Silver Spring Networks’ engagement with Hawaiian Electric. Statements including words such as “anticipate”, “believe”, “estimate”, “expect” or “future” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include the successful implementation and deployment of the engagement with Hawaiian Electric, as well as those described in Silver Spring Networks’ documents filed with or furnished to the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Silver Spring Networks as of the date hereof. Silver Spring Networks assumes no obligation to update these forward-looking statements.