RICHMOND, Va., May 12, 2014 /PRNewswire/ -- Hawaiian Electric, in collaboration with DVI, a grid-optimization subsidiary of Dominion Resources (NYSE: D), has executed a license agreement for the use of DVI's EDGE® advanced Grid Optimization solution.
EDGE® will initially be deployed benefitting 5,200 customers as part of a larger grid modernization program that includes AMI from Silver Spring Networks and various other smart-grid technologies. As it relates to EDGE®, this program will highlight the benefits of AMI-based voltage optimization for the purposes of energy savings, demand reduction and reliability, allowing further integration of renewables on the islands.
"Implementing both AMI and DVI EDGE® technology will help improve grid efficiencies and allow for further integration of renewables into Hawaiian Electric's resource mix," said Dan Giovanni, Hawaiian Electric operations senior vice president. "The resulting energy savings, combined with the ability to integrate more low-cost renewable energy, will allow Hawaii to reduce its overall dependency on expensive imported oil."
Giovanni also said the company continues to focus on grid modernization efforts that benefit the consumer and the utility. The move represents the first phase of a plan that would develop smart grids across Oahu in Maui County and on Hawaii Island by 2018, and covers customers in Moanalua Valley and portions of Pearl City, Diamond Head, Kaimuki, Kahala and Waikiki.
"The state of Hawaii presents a strong business case for the use of the EDGE® grid optimization technology. Optimizing voltage allows for a reduction in energy consumption, thereby reducing expensive fuel costs. At the same time, the distribution grid is stabilized, allowing for increased use of renewables—a win-win. DVI is proud to be part of Hawaii Electric's grid modernization efforts," said Todd Headlee, DVI's executive director.
DVI is a leading provider of grid optimization technology providing solutions for energy efficiency, demand response, and volt/VAR control. DVI's patented approach plans, manages and validates utilities' investments in grid efficiency while delivering significant energy savings to both utilities and their customers. For more information about DVI, visit www.dvigridsolutions.com
DVI is a subsidiary of Dominion Resources, Inc. (NYSE: D), one of the nation's largest producers and transporters of energy, with a portfolio of approximately 23,600 megawatts of generation. Dominion operates one of the nation's largest natural gas storage systems and serves retail energy customers in 10 states. For more information about Dominion, visit the company's website at www.dom.com
SOURCE Dominion Resources