The Clap
GM (NYSE:GM), Ford (NYSE:F), Google (NASDAQ:GOOGL), alongside some solar energy producers are set to cooperate to increase the use of virtual power plants (VPP).
What
A virtual power plant (VPP) is a cloud-based distributed power plant that enhances power generation and trades or sells power on the electricity market.
In addition, these VPPs will ease the load on the electricity grids when the supply is short.
So What
VPPs are expected to boom in the coming period after the 2021 Inflation Reduction Act increased tax incentives for EVs, electric equipment, solar panels, and other devices that can be coordinated to ease electricity grid loads.
Now What
Grid planners and grid operators will be able to better control the increasing demand for electricity from vehicles, houses, and industries thanks to VPPs.
