CleanSpark Inc (NASDAQ:CLSK) has announced the operating results of a microgrid project recently commissioned in San Diego, saying it resulted in a significant decrease in operational costs.
The diversified software, services, and bitcoin mining company, and wholly owned subsidiary Solar Watt Solutions, partnered with RSI Roofing on implementation of the solar-plus-storage microgrid system.
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The microgrid project was designed for WS Display/San Diego Sign Company to provide economic optimization and cost avoidance, as well as cleaner energy for their facility. Once the energy systems were deployed, a 75-80% reduction in monthly energy costs was realized by the customer during the first month of operation.
“We also realized significant savings on the cost of the microgrid with a 30% solar credit and battery incentive through SGIP (self-generation incentive program),” WS Display principal and CFO Eric Van Velzer said.
“We plan for future expansion with additional backup power and storage for resiliency during power outages.”
The mPulse microgrid control system was tested and approved by a nationally recognized testing laboratory due to the requirements of San Diego Gas and Electric and the California Energy Commission.
Due to its proximity to the Carlsbad Airport, a Federal Aviation Administration study was conducted to verify that flight operations were undisturbed as a result of the rooftop installation that included 1,200 solar panels. RSI Roofing partnered with Solar Watt Solutions on the contract.
“WS Display is a leader in providing high-quality trade show banners and displays whose operational costs were significantly decreased as a direct result of a smart-controlled microgrid provided by Solar Watt Solutions and CleanSpark,” CleanSpark CEO Zach Bradford said in a statement. “mPulse optimizes and directs the microgrid to provide resiliency during utility outages, and cost savings during normal operations.
He added: “WS Display is also able to export energy from the battery to the utility grid to create greater savings."
Based in Bountiful, Utah, CleanSpark has developed software to help companies and homes become more energy-efficient and is also involved in Bitcoin mining.
The company designs and builds microgrids while providing engineering, consulting, and turn-key implementation services. It also offers software for energy monitoring and system controls.
Contact the author at stephen.gunnion@proactiveinvestors.com