- GE, Iberdrola and others have invested $15 million in Stem, a battery storage company. Stem plans to use the funds to increase production, expand to new commercial and industrial sectors and grow in areas outside California.
- Stem wants to grow in New York, New Jersey and Quebec, Canada, because they have high demand charges. Texas and Florida are also in the company's sights.
Stem focuses on lowering electric bills for C&I customers, but expects to be able to pool resources, which could help utilities and grid operators handle peak loads.
“Our storage system has a lot of synergies with solar," Stem CEO Salim Khan told GreenTech Media. "We don’t think of them as competitors, but rather as partners. Solar takes care of the energy; we take care of the demand charges.”