Welcome to the new CODA Energy blog. We’re going to use this space to share what we’re working on and what we’re thinking about.
Since 2011, our team has been working on a flexible energy storage system called the CODA Core. Its primary function is simple: store electricity using batteries.
While the concept is straightforward, energy storage has long been viewed as the unattainable “holy grail” for the electricity sector, so the fact that this and other products are coming to market now is in many ways revolutionary.
If you think about it, the electrical system designed by Thomas Edison, William Stanley, Nikola Tesla and others more than a hundred years ago remains largely intact today. Generation, transmission and consumption are managed by an entire industry dedicated to ensuring everything remains perfectly balanced, safe and reliable.
It has worked well. So well, in fact, that innovation has stalled while other industries dashed forward.
We have new priorities today. We want to understand how the appliances in our homes are consuming energy, and ultimately, we want to use less of it. We want to harness the power of the sun to provide our own power. And more than ever, we demand stability, both in terms of the supply of electricity and the price we pay for it.
The market is responding. Solar can meet or beat utility prices in many places. Smart meters automatically send energy data in real time that is summarized by apps on our phones and computers. Intelligent thermostats and other appliances shut themselves off when electricity prices rise. And people are powering their cars by plugging-in rather than filling-up.
But to truly harness the potential of these innovations and transform the grid, we need cost effective, flexible and reliable energy storage. Without the ability to store and manage energy, it’s hard to imagine a system involving generation on one end and consumption at the other working perfectly.
Meeting this challenge is the genesis of our company. Our goal is to design simple, cost effective energy storage systems that can plug-in anywhere on the grid, be it in a garage or next to a power plant, and add value.
We’ll dive into greater detail on the technology, market, policy and industry in subsequent posts. Please sign up to follow along, and if you have any thoughts, questions or suggestions, we’d love to hear from you.