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>>> Generac (GNRC) Boosts Energy Offerings With Smart Grid Ready


Zacks Equity Research

August 26, 2021


https://finance.yahoo.com/news/generac-gnrc-boosts-energy-offerings-123412985.html


Generac Holdings Inc. GNRC has announced that its home standby generators, commercial generators and PWRcell solar + battery storage systems are being built as Smart Grid Ready.

The move allows its customers to sell power back to the grid and offset their energy expenses. The Smart Grid Ready capabilities are being offered through Generac’s Enbala Concerto platform.

The Enbala Concerto energy-balancing platform provides an approach for creating controllable energy resources from loads, energy storage and renewable energy sources. It gives energy retailers and utilities the flexibility to operate in real-time and better manage the complexities of variable energy assets.

Generac’s shareholders’ money has more than doubled over the past year. The stock has risen 128.2% in this time frame compared with the industry’s growth of 68.2%.

The integration allows Generac’s customers to make contributions to grid reliability and sustainability. Climate change and an aging electrical grid with frequent power outages are spurring growth opportunities for the company.

With Smart Grid Ready, customers can play a crucial role in being part of the solution. They will have the chance to get additional return on investment by using Generac units to contribute energy to the grid and get payment for the excess power.

Through the new platform, Generac’s Smart Grid Ready products become distributed energy resources (DERs), which form virtual power plants — collections of DERs capable of boosting the grid services provided by traditional power generation. The DERs work as traditional power backup devices and enable the sale of power back to the grid during peak demand.

Generac boasts an end-to-end solution that combines solar, battery storage, generators and load management. The current PWRcell and home standby generator customers will be able to access Generac’s Concerto platform via a firmware update.

In January 2021, Generac created a new business organization as part of its ‘Powering Our Future’ strategy. Named Energy Technology, it comprises all Generac’s businesses, which mainly focus on products or services related to storage and energy management products.

Generac is currently a Zacks Rank #3 (Hold) stock.

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