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    Home»Stock Market»Smart Panel Technology | AltEnergyMag
    Stock Market

    Smart Panel Technology | AltEnergyMag

    August 6, 20246 Mins Read



    The Lumin Smart Panel protects the inverter from overloading in the event of a power outage, restores power to the circuits as the battery recharges, and returns to the original settings when the grid is back online.


    Smart Panel Technology

    Smart Panel Technology


    Product Q&A with | Lumin



    First, let’s start with a “Lumin 101.” Who is Lumin and how did it start? 

    Lumin was founded in 2016 in Charlottesville, Virginia. Alex Bazhinov, founder and president of Lumin, began his professional journey in the mining industry, where he saw firsthand the environmental impact of our carbon-intensive society. This experience sparked his passion for clean energy solutions. While pursuing his MBA at the University of Virginia Darden School of Business, he recognized that the electric panel, the central component of all energy in the home and the key to smarter energy use, needed innovation. Driven by this insight, he and his team started working on a smart panel prototype in a garage, which eventually became the Lumin Smart Panel. Today, Lumin has a team spread across the U.S., an expanding product line and a steadily growing number of industry partnerships.

     

    Tell us about the Lumin Smart Panel. What is the technology behind it and what problem is it solving?

    The Lumin Smart Panel can be retrofitted to any electrical panel to make ordinary circuits smart, enabling homeowners to gain insight and control over their energy use. Lumin replaces the inflexible backup panel for energy storage setups, allowing dynamic access to all connected circuits during an outage and extending battery runtime through intelligent optimization. The Lumin Smart Panel is universally compatible with all inverters and batteries, making installation simple and hassle-free.

    In contrast to a traditional backup panel, choosing what appliances to power during an outage is no longer a one-time, life-long commitment. With the Lumin App, you can “set it and forget it” or re-prioritize which circuits receive power in real time, granting homeowners the freedom to adapt to their changing needs.

    The Lumin Smart Panel protects the inverter from overloading in the event of a power outage, restores power to the circuits as the battery recharges, and returns to the original settings when the grid is back online—providing energy security from the moment the lights go out to the moment when electricity is restored.

    The Lumin App lets you view energy production and consumption information, prioritize loads during outages and avoid peak rates with on-grid circuit scheduling. In addition, those participating in demand response programs through their utility can see an additional return on investment.

    On-grid or off, the Lumin Smart Panel is an intelligent way to future-proof your energy investments and gain full control over your energy use.

     

    What role does smart panel technology play in the rapidly accelerating electrification landscape?

    Smart panel technology is critical for residential electrification, a central decarbonization strategy. Electrifying homes involves replacing fossil fuel-powered appliances with electric ones, which reduces carbon emissions and improves indoor air quality. However, many homes need to upgrade their electrical supply to support this transition, and upgrading a home’s electrical service can be expensive. Similarly, upgrading service to several homes on a block or multiple blocks of homes can become unsustainably challenging for utilities.

    Smart panels can offer a more cost-effective solution. By dynamically managing electrical loads so that the home stays within the limits of its electrical infrastructure, smart panels negate the need for costly service upgrades and enhance the financial benefits of home electrification.

    Smart panels like Lumin’s also support the grid by encouraging the adoption of distributed energy resources (DERs) like solar panels and batteries and enabling greater engagement in demand response programs. They can unlock participation in virtual power plants (VPPs), which the U.S. DOE aims to expand significantly and significantly boost your solar and storage ROI by strategically shifting loads to maximize NEM 3.0 export incentives. Smart panels facilitate a smoother and more sustainable electrification process by optimizing energy usage and enhancing grid resilience, benefiting homeowners and utilities.

     

    How do you see the implementation of smart panel technology developing in the future, and what needs to happen to accelerate its use?

    Greater public awareness and accessibility are crucial for the widespread adoption of smart panel technology.  Lumin is scaling up through partnerships with major OEMs like Sunnova and ABB. Sunnova is integrating the Lumin Smart Panel into its Adaptive Home offering. ABB has launched the ReliaHome Smart Panel, which combines its market reach with Lumin’s load management technology.

    Lumin constantly works to provide intelligent energy management in more flexible and affordable packages. Lumin’s latest product, Lumin Edge, offers the same appliance-level monitoring and control as the Lumin Smart Panel in a modular platform, enhancing cost-effectiveness by scaling to specific needs, particularly for electrification and grid services. Lumin Edge is in its pre-release phase, with initial shipments sent to utilities across the U.S. and Canada. A broader public release is planned for the second half of 2024.

    Utilities and policymakers need to ensure broader access to the benefits of the energy transition. Traditionally, the cost of clean energy products and appliances exceeds the average American’s income, creating inequities and slowing the speed of adoption. Low-income households, in particular, bear a higher energy burden than any other group. Addressing this disparity requires making affordable clean energy solutions more widely available.

     

    The content & opinions in this article are the author’s and do not necessarily represent the views of AltEnergyMag


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