BRISBANE, Australia, April 18, 2023 (GLOBE NEWSWIRE) -- Redflow Limited (ASX: RFX), a global leader in clean energy storage, announced today that its safe, scalable, and sustainable energy storage solutions have been approved by the California Public Utilities Commission (“CPUC”) as eligible for the state’s Self-Generation Incentive Program ("SGIP").
SGIP provides rebates to support existing, new, and emerging energy storage resources in California that, when installed, are able to meet all or a portion of the electrical energy needs of a facility. Current SGIP rebates for qualifying distributed energy storage systems installed on the customer's side of the utility meter can range up to USD $1,000 per kilowatt-hour, with the highest amounts for projects deployed within state-designated disadvantaged communities.
Redflow is one of the few non-lithium energy storage providers to have been granted SGIP approval.
Redflow’s zinc-bromine flow batteries become more economically attractive with this approval, enabling access to state incentives that facilitate wider deployment across disadvantaged communities within the state to help accelerate the transition to a carbon-free future in a range of behind-the-meter applications.
Redflow Chief Executive Officer and Managing Director Tim Harris said, “With more than ten years of experience delivering energy storage solutions and supporting critical infrastructure, our rugged technology has already been proven in a wide range of harsh environments, and is well-placed to support the needs of disadvantaged communities in California as outlined in the SGIP guidelines.”
“With the need for energy storage solutions rapidly rising, we’re looking forward to making our field-tested systems more accessible to commercial and industrial organisations,” said Mr. Harris.
SGIP approval will complement Redflow’s existing presence in California which includes the 2 MWh zinc-bromine flow battery system at Anaergia Rialto Bioenergy facility. This is Redflow’s largest commercial deployment, and the energy storage system also recently celebrated a successful first year in operation.
The twelve Energy Pods are monitored remotely via Redflow’s cloud-based battery management system and integrate seamlessly at the site with various other clean energy technologies. Redflow expects to implement similar systems for other commercial clients across North America.
For further information contact:
| Corporate Tim Harris +61 7 3376 0008 tim.harris@redflow.com | Investors Ronn Bechler +61 400 009 774 ronn.bechler@marketeye.com.au | Media Shannon Murphy +1 603 505 5606 shannon@trevicomm.com |
About Redflow
Redflow, a publicly listed Australian company (ASX: RFX) with offices in Australia and the US, designs and manufactures long-duration zinc-bromine flow batteries for stationary commercial, industrial, and utility applications. Redflow batteries are modular, scalable, fire-safe, and capable of 100% depth of discharge. They can also operate in a wide range of environments without supplemental heating or cooling and offer an extended life with minimal degradation over time. The company’s smart, self-protecting storage technology offers unique advantages, including a hibernation feature, secure remote management, a simple recycling path, and sustained energy delivery throughout its operating life. Redflow’s energy storage solutions have been in use for more than a decade at more than 250 sites in over 9 countries.
For further information, please visit: www.redflow.com
