Verde Energy will start supplying power to the city from August 2013.
The company, as part of the agreement, will install Ice Bear technology which is a proven, clean energy storage system. It will install the system in one of municipal buildings in the city.
Verde, which serves more than 70,000 customers in 14 municipalities through aggregation programs, took part in the Evanston’s open Request for Proposal process to select an electricity supplier for the city.
The company will provide 100% renewable electricity to the city residents at a fixed rate of $0.05192/kWh through August 2014.
The residents and small commercial retail customers can also choose to opt-out of the aggregation program without paying a penalty or a cancellation fee.
Verde Energy US president and CEO Thomas FitzGerald said through the agreement the company will expand its existing Energy Storage Solutions Program in Illinois.
"We look forward to making our energy efficiency solutions available to the residents of Evanston, including demonstrating how our investment in the Ice Bear™ unit will help to achieve energy efficiency, reduce costs, and enhance grid reliability," FitzGerald said.
The Ice Bear unit replaces conventional air conditioning condensing units, a component of a typical building cooling system.
It shifts the electricity demand for air conditioning to off-peak hours by using plain water to make ice at night, when the electric grid is generally unstressed.
