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Generac Holdings' (GNRC) DERMS Solution Used by Dominion Energy
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Generac Holdings (GNRC - Free Report) subsidiary, Generac Grid Services, announced that it had been selected by Dominion Energy Virginia to modernize electric grid.
The contract involves leveraging the Generac’s distributed energy resource management system (DERMS) solution via its Concerto platform to manage and control distributed energy resources (DERs) which helps to improve grid stability.
Dominion Energy plans to leverage Generac’s platform to efficiently manage smaller consumer-owned devices like battery storage and smart thermostats as well as large front-of-meter devices like solar and energy storage.
The Concerto platform will also be integrated with Dominion Energy's Advanced Distribution Management System to regress key variables like weather data, network conditions, demand forecasts and utility customer requirements.
This will allow the companies to accelerate issue detection process and dispatch the right mix of DERs in response, added Generac.
The Concerto platform will also assist in balancing supply and demand on the grid by offering cutting-edge use cases, such as real-time voltage support in particular areas.
The Federal Energy Regulatory Commission plans to implement Order 2222, which allows approved DERs to compete in wholesale electric markets. Dominion plans to compete in the above-mentioned competition by using Concerto.
Recently, Generac was awarded a multi-year contract by Arizona Public Service. The contract involved leveraging the company’s Concerto DERMS to provide additional grid capacity from residential battery storage and advanced grid services like real power orchestration, voltage management, targeted responses and fleet energy control.
Prior to that, the company announced a partnership with RWE to provide grid-balancing solutions that support a reliable grid. RWE is using Concerto to bid in the German interruptible load market in addition to the aFRR solution. RWE can add value to its fleet of distributed energy resources with this solution.
Generac manufactures power generation equipment, energy storage systems and other power products, including portable, residential, commercial and industrial generators.
The company reported second-quarter 2022 adjusted earnings of $2.99 per share, beating the Zacks Consensus Estimate by 12.8%. Also, the bottom line increased 25.1% year over year.
Net sales increased 40% year over year and came in at $1.29 billion, beating the consensus mark by 2.4%. Robust demand for Residential and Commercial & Industrial products boosted Generac’s second-quarter performance.
Generac currently carries a Zacks Rank #3 (Hold). Shares of the company have lost 49.4% compared with the industry’s fall of 61.7% in the past year.
The Zacks Consensus Estimate for CDNS 2022 earnings is pegged at $4.11 per share, rising 5.7% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.7%.
Cadence’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 9.8%. Shares of CDNS have jumped 6.1% in the past year.
The Zacks Consensus Estimate for BMI’s 2022 earnings is pegged at $2.30 per share, up 6% in the past 60 days.
Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, with the average being 12.6%. Shares of BMI have lost 11.2% of their value in the past year.
The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $4.04 per share, increasing 9.8% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.6%.
Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have increased 34.7% in the past year.
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Generac Holdings' (GNRC) DERMS Solution Used by Dominion Energy
Generac Holdings (GNRC - Free Report) subsidiary, Generac Grid Services, announced that it had been selected by Dominion Energy Virginia to modernize electric grid.
The contract involves leveraging the Generac’s distributed energy resource management system (DERMS) solution via its Concerto platform to manage and control distributed energy resources (DERs) which helps to improve grid stability.
Dominion Energy plans to leverage Generac’s platform to efficiently manage smaller consumer-owned devices like battery storage and smart thermostats as well as large front-of-meter devices like solar and energy storage.
Generac Holdings Inc. Price and Consensus
Generac Holdings Inc. price-consensus-chart | Generac Holdings Inc. Quote
The Concerto platform will also be integrated with Dominion Energy's Advanced Distribution Management System to regress key variables like weather data, network conditions, demand forecasts and utility customer requirements.
This will allow the companies to accelerate issue detection process and dispatch the right mix of DERs in response, added Generac.
The Concerto platform will also assist in balancing supply and demand on the grid by offering cutting-edge use cases, such as real-time voltage support in particular areas.
The Federal Energy Regulatory Commission plans to implement Order 2222, which allows approved DERs to compete in wholesale electric markets. Dominion plans to compete in the above-mentioned competition by using Concerto.
Recently, Generac was awarded a multi-year contract by Arizona Public Service. The contract involved leveraging the company’s Concerto DERMS to provide additional grid capacity from residential battery storage and advanced grid services like real power orchestration, voltage management, targeted responses and fleet energy control.
Prior to that, the company announced a partnership with RWE to provide grid-balancing solutions that support a reliable grid. RWE is using Concerto to bid in the German interruptible load market in addition to the aFRR solution. RWE can add value to its fleet of distributed energy resources with this solution.
Generac manufactures power generation equipment, energy storage systems and other power products, including portable, residential, commercial and industrial generators.
The company reported second-quarter 2022 adjusted earnings of $2.99 per share, beating the Zacks Consensus Estimate by 12.8%. Also, the bottom line increased 25.1% year over year.
Net sales increased 40% year over year and came in at $1.29 billion, beating the consensus mark by 2.4%. Robust demand for Residential and Commercial & Industrial products boosted Generac’s second-quarter performance.
Generac currently carries a Zacks Rank #3 (Hold). Shares of the company have lost 49.4% compared with the industry’s fall of 61.7% in the past year.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are Cadence Design Systems (CDNS - Free Report) , Badger Meter (BMI - Free Report) and Arista Networks (ANET - Free Report) . Badger Meter and Arista Networks each sport a Zacks Rank #1 (Strong Buy), whereas Cadence Design Systems carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CDNS 2022 earnings is pegged at $4.11 per share, rising 5.7% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.7%.
Cadence’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 9.8%. Shares of CDNS have jumped 6.1% in the past year.
The Zacks Consensus Estimate for BMI’s 2022 earnings is pegged at $2.30 per share, up 6% in the past 60 days.
Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, with the average being 12.6%. Shares of BMI have lost 11.2% of their value in the past year.
The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $4.04 per share, increasing 9.8% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.6%.
Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have increased 34.7% in the past year.