They install remote-control devices on thermostats and other electrical appliances that turn them down, or shut them off, during times of peak electricity demand, when power prices spike. Neither company is profitable yet (EnerNOC says it’ll be profitable next year) and their stocks have taken a beating amid the economic downturn and meltdown in energy stocks. Nevertheless, the practice called demand response, with its ability to cut energy use on a moment’s notice, is widely seen as a critical piece in the modernization of the U.S. electrical grid. The gadgets may also be of use in off-grid situations – turning down the fridge or the cooker when they reach a certain temperature, for example.
Comverge is listed on the Wilderhill Clean Energy Index and EnerNOC is on the Nasdaq Clean Edge U.S. Index, both of which are dominated by renewable energy companies.
Boston-based EnerNOC has 2,500 megawatts under management and is focused on commercial and industrial customers. Comverge of East Hanover, N.J., has more than 2,600 megawatts under management, with more focus on residential customers, although it also pursues business customers.
Shares of EnerNOC have recently been trading around $16, up from a 52-week low of $4.80 in November. Comverge is around $7, up from a low of $2.35 in November.
The Federal Energy Regulatory Commission earlier this month recommended that governments and utilities prioritize investment in demand response and other smart grid systems, such as energy storage and intersystem communication and security. Demand-response projects are amongst those eligible for a portion of the billions in federal funding set aside for energy efficiency and smart grid projects in the economic stimulus package that Congress passed in February.
Two proposals now in Congress would require utilities to shave 15% from their loads through efficiency measures, including demand response.
Analysts are generally positive about the outlook for Comverge and EnerNOC. Still, there is uncertainty about how ardently state regulators, which control the purse strings of many U.S. utilities, embrace demand response and conservation in general.
“Both stocks are concept stocks,” said Jesse Pichel, senior analyst at Piper Jaffray Cos. “The rubber hits the road when the companies start earning.”
Thus far, the total of several thousand megawatts of peak demand that the companies have contracted to take off the grid “is a small portion of potentially what’s out there,” said Piper Jaffray analyst Elaine Kwei, noting the reluctance of some regulators to contract for demand-response services.
As for their stock, Comverge and EnerNOC shares are likely to rise when the economy improves and energy demand grows again. Even though the companies don’t produce energy, their stocks tend to trade along with the shares of renewable energy companies, said Pavel Molchanov, an analyst with Raymond James in Houston.
“It’s a different concept, but investors see it as kind of the same thing,” said Molchanov. He has given a market perform rating to EnerNOC, which he said was “fairly defensive, given that they save people money.”
powkey Portable Power Station 350W, 260Wh/70,000mAh Backup Lithium Battery, 110V Pure Sine Wave Power Bank with 2 AC Outlets, Portable Generator for Outdoors Camping Travel Hunting Emergency
Now retrieving the rating.
$192.98 (as of April 26, 2024 14:01 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)200W Portable Power Station, Powkey 120Wh/33,000mAh Power Bank with AC Outlet, 110V 6 Outputs Solar Generator External Battery Pack with LED Light for Home Use and Outdoor Camping
Now retrieving the rating.
31% OffFoldable Solar Panel Charger 60W with 18V DC Output (11 Connectors) for 100W~350W Portable Power Stations Jackery/Rockpals/Flashfish/Enginstar, Portable Solar Generator for Outdoor Camping Van RV Trip
Now retrieving the rating.
$98.99 (as of April 26, 2024 14:01 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)10W USB LED Light for Camping Garage Warehouse Car Truck Fishing Boat Outdoor Portable Bulb, Emergency Light, Children Bed Lamp
Now retrieving the rating.
$9.99 (as of April 26, 2024 14:01 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)EnginStar Portable Power Station 300W 296Wh Battery Bank with 110V Pure Sine Wave AC Outlet for Outdoors Camping Hunting and Emergency, 80000mAh Backup Battery Power Supply for CPAP
Now retrieving the rating.
15% Off
One Response
I don’t think much of some controlling my appliances. A better use of money would to design more energy efficient appliances. It would also behoove us to learn more of the old ways of preserving food. There a lot of ways to conserve than big brother doing it for us.