IDS Industries, a company which has already carved out a sizeable chunk of the advanced energy storage and portable power markets with their GIIRS-rated (Global Impact Investing Rating System) solutions, was quite pleased today to announce that recent landmark legislation by the California Public Utilities Commission (CPUC), mandating that the state’s biggest utilities (PG&E, Southern California Edison and San Diego Gas & Electric) pick up a whopping 1.3 gigawatts (over 1.3k MW) of storage capacity by 2020 alone, validates their hard work building an energy storage portfolio. On the back of California’s Renewable Portfolio Standard requiring that 33% of utilities’ electricity comes from renewables, this announcement by the CPUC firmly reinforces the validity of the company’s business model and their growth potential, as well as spelling a bright future for the broader sector.
The energy to run some 1M California homes requires innovative, next-gen storage solutions that can accommodate renewables and this Lake Elsinore, CA-headquartered company, which has a great deal of experience not only in this field but in manufacturing portable solar power generators and other related products, knows they have just hit pay dirt. Investors are in luck too as IDST has an investor conference call slated for this coming Monday, October 28, 4:30pm EDT, planned to coincide with an investor update that will give interested parties a great chance to really pop the hood on IDST and get a look at what makes the company tick.
The impact of this legislation on the industry will indeed be immense. Everything from storage components to flywheels will be needed to fill the gap and thus the boom is officially on in CA. The intermediary energy systems for renewables are a major factor in the equation but storage is going to be the real key to making sense of the underlying dynamics, the typically irregular input gradient from renewable sources ceases to be much of a concern if you can just amass reliable storage.
CEO and Vice Chairman of IDST, Scott Plantinga, emphasized how perfectly situated his company is for this circumstance as a manufacturer with the kind of battery management and charge controller technology needed to get the job done. IDS Industries just put both systems into beta testing last week and given their ability to satisfy both commercial, as well as residential storage requirements, these systems should be able to soak up a considerable amount of the logistical baseline.
The CPUC ruling is a major signal flare to markets about the future trends in the energy storage arena and investors need to look at how competitively positioned IDST is for capturing the force of those trends with their robust renewable energy storage hardware. This is something of a coup for the CA-based IDST, and Plantinga really feels like this CPUC announcement is a glowing endorsement of the company’s commitment to the energy storage market.
The upcoming conference call next Monday will also contain a look at the battery management and charge controller beta test results.
To learn more visit the IDS Industries website at www.IDSIndustries.com
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