CleanSpark adds enhanced features and modeling tools to its microgrid Value Stream Optimizer (mVSO) software

  • Jul 04, 2020
  • Tech Capital

CleanSpark Inc (NASDAQ:CLSK) has added enhanced features and modeling tools to its mVSO (microgrid Value Stream Optimizer) software.

mVSO is a SaaS-based product used by solar developers, battery suppliers, and engineering, procurement and construction companies to model the ideal mix of distributed energy assets to deliver cost savings, energy resiliency and sustainability.

The Utah-based company said the update allows the user to more easily identify and take advantage of incentives targeted to specific conditions or regions.

The new release features enhanced modeling for the California Self-Generation Incentive Program, commonly referred to as SGIP -- which will now provide rebates for business and residential customers who add energy storage as a means to maintain power resiliency during a grid disruption.

CleanSpark said the requirement for eligibility to receive these rebates is for a user's system to meet certain functional criteria which can be demonstrated through advanced modeling. Its mVSO software streamlines this process.

The newest SGIP programs provide incentives that can significantly reduce the costs of microgrids and distributed energy systems for projects serving people who meet specific qualifications.

CleanSpark said a portion of the program's budgets are set aside for customers living in high fire-risk areas, customers who experienced PSPS (Public Safety Power-Shutoff) events on two or more occasions, low-income customers, and critical facilities that provide services to these fire-prone areas.

According to California government data, there have been 2,996 fires and 19,951 acres burned thus far in 2020. In response to previous California wildfires, CleanSpark said the state had initiated rules to protect the public from potential fire hazards and posted interactive maps on its website to help consumers and installers determine if specific locations are eligible for the SGIP incentive.

"We are excited with both the timing and the additional functionality of this update,” said CEO Zach Bradford. “These enhancements will allow energy professionals to efficiently model the incentives in these qualified areas, and to validate the value of the incentives to the end customers through easy to understand proposals."

Bradford added that the company anticipates that these updated features will increase demand for its mVSO software, “which we believe will create additional pull-through sales of our patented microgrid controls software".