Lumin Defines Grid Responsive Energy Management For A Ready Market
CHARLOTTESVILLE, Va., Sept. 19, 2019 /PRNewswire/ -- Lumin, a grid edge technology company focused on making ordinary circuits smart and transforming the value proposition of energy storage for homeowners, installers and battery manufacturers, has just marked its third year in operation and continues to see strong demand for its platform across the United States.
"In three short years we've gone from an idea to a company with compelling, patented high tech product that's being installed across the U.S. and beyond. All of this comes from the insight that sprung into my mind when working in a very old basement, that is, that the common circuit breaker panel had missed the Internet of Things and hadn't been updated in nearly half a century." said founder and CEO, Alex Bazhinov. "Today our product is proving to be invaluable with leading energy storage brands and is becoming a key to grid-responsiveness in homes."
Energy storage deployments surged 200% year over year according to a Q2 2018 U.S. Energy Storage report from Wood Mackenzie Power & Renewables and their latest report issued this month sites the highest ever single quarter growth in residential solar, deploying 35MW of new systems in Q2 2019. That growth fuels Lumin's relevance in the marketplace. "By catering to the most progressive solar and storage installers, we are growing our installed base and providing a solution that enables richer, more dynamic backup for homeowners and our installation partners." says Kevin O'Shea, Lumin Co-founder and Chief Commercial Officer.
Achieving Whole-Home Backup Through Load Management is Lumin's thesis for a more flexible, affordable system, detailed in a new white paper on the topic. Smart algorithms behind the Lumin Energy Management Platform unlock flexibility for homeowners in grid outages, allowing for a more dynamic off-grid experience. Once the system has been installed and configured, the Lumin platform will keep watch for a grid outage. When an outage is detected, all loads that have not been marked as Protected will be shed immediately. As the power outage progresses, the homeowner has the ability to update and change which circuits are enabled. "This breakthrough in load management is what intrigues installers who are meeting with homeowners that are looking for more from their storage system." says O'Shea. "Lumin delivers what homeowners really want in an outage scenario, helping to eliminate an unnecessary and restrictive protected loads panel."
Dynamic energy pricing contributes to the demand for Lumin's technology as more than 20 million homeowners in California alone will face increasingly complex utility rate schedules in 2020, with the numbers continuing to rise in the years ahead. Lumin's robust rate tracker makes it easy to manage energy pricing and track tariffs such as Time of Use (TOU) and Demand charges to optimize savings.
"It Is exciting to be at the forefront of energy transition as we make residential energy storage flexible and affordable. But, truly, we just have begun applying Lumin's technology to some of the most challenging problems in the energy world and I can't wait to see some of our products that are currently in development to hit the market", says Bazhinov.
The Lumin platform includes 24/7 data monitoring and control accessible to homeowners via an updated "Insights" app that pushes alerts, simplifies automations, enables offline functionality during grid outages and more. The company will demonstrate the technology in booth #7334 in the Energy Storage Pavilion during SPI - ESI 2019, September 23-26.
About Lumin
Lumin is headquartered in Charlottesville, Virginia, and provides energy management technology for the grid edge. The Lumin® Energy Management Platform brings intelligent control to any electrical distribution panel and makes ordinary circuits smart. Lumin's hardware/software system enables responsive load management that can adjust automatically to storage status, electricity pricing, and much more. The solution is valued by storage partners, solar installers, utilities, and homeowners alike.
To learn more, please visit luminsmart.com.
Media inquiries:
Val Newcomb
Lumin
Vice President Marketing & Communications
E: val.newcomb@luminsmart.com
C: 434-806-1159
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SOURCE Lumin
