Convergent Energy + Power has built a first-of-its kind energy storage system-to reduce peak demand charges-at Husky Injection Molding Systems Ltd. in Bolton, Ontario. Convergent officials said the charges, known as Global Adjustment Demand charges, account for up to 70 percent of electricity bills for some customers in Ontario. They anticipate the storage system can reduce electricity costs on the load by 15-30 percent per year, starting in 2018."We deploy energy storage to reduce electricity costs for our customers under a shared savings agreement," said Convergent CEO Johannes Rittershausen.
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