Following a pilot program in Indiana, Silver Spring Networks has been selected by American Electric Power (NYSE: AEP) for the utility's full smart grid rollout through subsidiaries Indiana Michigan Power and AEP Ohio. Silver Spring Networks is providing its IP-based technology, which creates an end-to-end platform for the Smart Grid.
Indiana Michigan Power initiated its Smart Meter pilot project in
South Bend, Indiana in late 2008. The initial success of that project
led AEP Ohio to select Silver Spring Networks for the expansion of its
AEP Ohio gridSMARTSM Demonstration Project in northeast central Ohio.
AEP's goal is to network 5 million homes and businesses throughout its
service territory by 2015.
Part of AEP's overall gridSMARTSM initiative, both projects enable multiple Smart Grid applications over a unified network, including distribution automation, home area networking and advanced metering. Through gridSMARTSM, AEP will upgrade its existing energy infrastructure using Smart Grid technologies and consumer programs. This transition is intended to empower consumers, reduce operational costs and enable new technologies, such as smart appliances, home automation, plug-in hybrid electric vehicles and the integration of renewable energy assets like wind and solar power onto the grid.
"AEP is one of the most innovative utilities in the country and we are
honored to assist them making their gridSMARTSM vision a reality," said
Scott Lang, Chairman, President and CEO of Silver Spring Networks. "By
implementing an open Smart Grid platform, AEP is ensuring it will be
ready to meet its energy efficiency challenges for generations to come."
Silver Spring Networks' open, IP standards-based network technology allows AEP to utilize a variety of smart grid technology companies to revolutionize the creation, distribution and consumption of energy. GE Energy (NYSE: GE), one of the world's leading suppliers of power generation and energy delivery technologies, will provide the smart meters and grid management software. Other companies include S&C Electric and Cooper Power Systems, which will provide distribution automation equipment to improve grid reliability and efficiency.
In September, Silver Spring Networks announced the acquisition of software company Greenbox Technology.
Silver Spring Networks is also providing its technology to a smart grid network being built in the Mid-Atlantic region by Pepco Holdings, Inc. (NYSE: POM).