CLEANSPARK CleanSpark Announces Wildfire Incentive and Tax Credit Integration for mVSO Energy Modeling Software

  • Jul 03, 2020
  • Electric Energy

CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today (July 1) announced the release of 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 EPC's (Engineering, Procurement and Construction Companies) to model the ideal mix of distributed energy assets to deliver cost savings, energy resiliency and sustainability.

This 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". SGIP will now provide rebates for business and residential customers that add energy storage as a means to maintain power resiliency during a grid disruption. A 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, and CleanSpark's mVSO 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. 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 distinct occasions, low-income customers, and critical facilities that provide services to these fire prone areas.

According to CA.Gov, as of the date of this release, there are currently 2,996 fires thus far in 2020 and 19,951 acres burned, both figures represent increases compared to 2019. In response to previous California wildfires, the California Public Utilities Commission (CPUC) 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 either the SGIP or Equity Resiliency incentive.

CleanSpark's CEO Zach Bradford commented, "We are excited with both the timing and the additional functionality of this update; 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." He added, "We anticipate that these features will increase demand for our mVSO software, which we believe will create additional pull-through sales of our patented microgrid controls software."

Parties interested in CleanSpark's mVSO Software platform are encouraged to visit the Company's website at https://www.cleanspark.com/mvso-info or contact the Company directly at [email protected] Investors are encouraged to contact the Company at [email protected]

Register for access to the Energy news and press releases