Urlman -
Getting bored w/ PTSC? There may be a home generation market. There will certainly be competition for it if there is...
Here's more info on the announcement made by Plug Power yesterday:
biz.yahoo.com
and
Wednesday June 17, 10:56 am Eastern Time
Company Press Release
SOURCE: Plug Power
Plug Power Unveils World's First Fuel Cell-Powered Home
LATHAM, N.Y., June 17 /PRNewswire/ -- In a dramatic step toward the
development of a whole new way of generating electricity, Plug Power demonstrated today the first residential fuel cell to successfully
power a home.
Plug Power unveiled its proprietary Plug Power 7000, a prototype residential power generation system, before a gathering of federal and state energy officials and representatives of the utility industry. The demonstration marked the first time a fuel cell has been used to provide a home's complete electricity. Among the items in the home powered by the fuel cell are a refrigerator, air conditioner, dishwasher, oven, television, VCR, microwave, other small appliances and lighting.
''The introduction of residential fuel cells will forever change the way we think about buying and generating power,'' said Gary Mittleman, president and chief executive officer of Plug Power. The company, whose work on automotive fuel cells has received national attention, is a joint venture between DTE Energy (NYSE: DTE -news), Michigan's largest electric utility, and Mechanical Technology, Inc. (MTI) (OTC Bulletin Board: MKTY - news), a pioneer developer of fuel cells.
Plug Power expects to introduce a commercial system for home power generation by the year 2000. While the prototype unit unveiled today was hydrogen-based, commercial units will run on natural gas, propane or methanol.
''For the first time, electric consumers will have a true alternative -- and will begin to enjoy immediate cost savings,'' Mittleman added. Home fuel cell systems are expected to reduce current electric rates by approximately 20% upon their introduction, due primarily to lower operating costs and higher efficiencies.
Fuel cells use an electrochemical process that produces no nitrogen or sulfur oxides, known for producing acid rain. In addition, the excess heat that is generated from the process can be captured and re-used for both hot water and winter home heating.
''The Department of Energy is proud of our role in achieving this milestone. New technologies like this residential fuel cell show that a prosperous economy goes hand-in-hand with a clean, healthy environment,'' said Secretary of Energy Federico Pena. The Department has provided critical technical and financial support for Plug Power's
overall fuel cell development efforts.
''Fuel cells are orders of magnitude cleaner than traditional fossil fuel plants,'' said Nathanael Greene, an energy policy analyst
for the Natural Resources Defense Council. ''And because they're more efficient than central generation, they'll help fight global warming. The promise of fuel cells is cleaner and cheaper power, and we're starting to see it become a reality.''
''Whenever you put the source of power closer to its recipient, energy losses are minimized,'' Mittleman added. ''Approximately 7 to 8% of the power generated at a utility plant today is lost in the lines
that connect the plant to the house. Distributed generation reduces the need for electric lines, and lets us make better use of the ones we have.''
Since no above-ground wiring is necessary, the systems are highly reliable, virtually eliminating power surges and outages. ''The severe weather pattern that we've seen over the past several months has had a devastating effect on so many people,'' Mittleman said. ''With fuel cells, one major inconvenience -- loss of electricity due to downed power lines -- will cease to exist.''
Support at the state level has also contributed significantly to the advancements announced today. Governor George Pataki, who was present at the event, said, ''The Capital Region has always been a manufacturing center for power generation equipment. Today, one of the most innovative energy companies in the world made history in Latham. We are deeply pleased that Plug Power will continue to fuel our state's economy by investing its future in the Capital Region.''
''The New York State Energy Research and Development Authority is proud to be part of the team that has developed the first residential fuel cell capable of powering a home,'' said President F. William
Valentino. ''Our commitment to the company and the project started way back when we first convinced MTI to begin research in the area of fuel cells.''
Jean Redfield, president of DTE Edison America, Inc., echoed Plug Power's commercialization objective. A joint owner of Plug Power, DTE Energy Co. is providing distribution expertise that will enable the
company to meet its aggressive sales targets. ''As the retail marketing arm of DTE Energy, we are tremendously excited about the home fuel cell systems. We anticipate that homeowners in remote locations will be early beneficiaries of the technology and that ultimately any homeowner will be interested in the home cell system for its affordability and reliability.''
''We plan on being the first company to make and sell one million of these units,'' Mittleman said. The company is also working closely with W.L. Gore & Associates, a world leader in membrane technologies as well as advanced polymers and materials (the company is well known for its GORE-TEX(R) fabrics), to manufacture the membrane considered to be at the heart of the fuel cell system.
Plug Power is a joint venture between DTE Energy Company, (NYSE: DTE - news) and Mechanical Technology Inc., (OTC Bulletin Board: MKTY - news) an early developer of fuel cell technologies. Plug Power was formed to develop and manufacture fuel cells for electric power generation in residential and automotive applications. Formed in June of 1997, the company has grown from 22 to 125 employees. In October of 1997, Plug Power's fuel cell was used in the only known successful conversion of gasoline to electricity. In May of 1998, the company was
honored with the National Energy Resources Organization (NERO) Research and Development award for its fuel cell breakthroughs.
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