ZOME completes first year of SMARTS program from the ARPA-E of the Department of Energy, scores highest among all vendors in annual achievement ratings
ZOME announces today that it has completed its first year a three program called SMARTS funded by the Department of Energy. Moreover, ZOME, scored highest among all 18 vendors in annual achievement ratings. ZOME was green lighted on all aspects of its performance, ensuring that ZOME will be fully funded throughout the three year program.
The Stochastic Market Auction Redesigned Trading System (SMARTS), was awarded to ZOME from the US Department of Energy’s ARPA-E Program, to develop a stochastic two-stage auction design architecture for wholesale energy markets and provide intelligent energy-portfolio risk management analytical tools that enable flexible demand assets to offer their flexibility as demand reserves.
In the project, ZOME will also conduct market simulation and pre-pilot tests to demonstrate the developed system in the real-time energy and reserve markets of PJM. ZOME is tasked to develop Virtual Power Plants (VPPs) by transforming buildings into grid assets (i.e. physical power plants) and offering aggregated demand capacity into the PJM market.