Willdan’s LoadSEER Software Selected to Provide Distribution Planning and Forecasting for Huntsville Utilities
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The integration of Integral Analytics' LoadSEER software by Huntsville Utilities represents a strategic move to enhance grid management and planning. The adoption of distributed energy resources (DERs) and electric vehicles (EVs) is a growing trend that necessitates sophisticated tools for load forecasting. This software deployment is a crucial step for Huntsville Utilities to address the complexities introduced by these technologies.
From an energy sector perspective, the ability to accurately predict and manage energy demand is essential for maintaining grid stability and efficiency. LoadSEER's geospatial forecasting capabilities provide Huntsville with a more granular understanding of energy consumption patterns, which is vital for optimizing capital infrastructure investments. This level of planning is indicative of a proactive approach to grid modernization, which is necessary to accommodate the shift towards renewable energy sources and electrification of transport.
The broader implications for the business and stock market include potential growth opportunities for Willdan Group as more utilities seek advanced solutions to manage their grids. The expansion into the Alabama market could signal Willdan's increasing penetration into new territories, possibly affecting the company's market share and competitiveness within the energy sector.
The announcement by Willdan Group regarding Huntsville Utilities' deployment of LoadSEER software has significant financial implications. As a wholly owned subsidiary of Willdan, Integral Analytics' software adoption could lead to an increase in revenue streams from software licensing. This is particularly relevant given the current energy landscape's shift towards more dynamic and decentralized power systems.
Investors should note the potential for recurring revenue from enterprise software licenses, which can contribute to a more predictable and stable financial outlook for Willdan. Additionally, the improved decision-making and transparency in capital infrastructure budgeting that LoadSEER provides may result in cost savings for Huntsville Utilities, which could be a selling point for other municipalities considering similar investments.
It is also important to consider the scalability of LoadSEER and its potential to be adopted by other utilities. The success of this deployment could serve as a case study and drive further market adoption, which would have a positive impact on Willdan's financial performance in the long term.
The deployment of LoadSEER by Huntsville Utilities signals a growing market demand for advanced load forecasting and grid planning tools in the face of increasing DER and EV adoption. The energy sector is undergoing a significant transformation and utilities are seeking innovative solutions to navigate this change.
Market trends indicate a rise in investments in smart grid technologies and Willdan's move to expand its user base into Alabama is reflective of these trends. The ability of LoadSEER to improve forecasting and aid in the development of capital infrastructure budgets aligns with the needs of modern utilities to enhance operational efficiency and prepare for future energy demands.
Understanding the market dynamics, the entry into Alabama could be strategic for Willdan, as it may open up new opportunities in the Southern United States, a region that is experiencing economic growth and increased energy consumption. The success of this deployment could influence other utilities in the region to consider similar technology upgrades, potentially expanding the market for Willdan's services and software.
This enterprise software license enables geospatial forecasting and planning through LoadSEER. These features will improve decision-making and transparency in the development of Huntsville Utilities’ capital infrastructure budget.
“We’re excited to expand our LoadSEER user group to an
About Huntsville Utilities
Huntsville Utilities is owned by the
About Willdan
Willdan is a nationwide provider of professional technical and consulting services to utilities, government agencies, and private industry. Willdan’s service offerings span a broad set of complementary disciplines that include electric grid solutions, energy efficiency and sustainability, engineering and planning, and municipal financial consulting. For additional information, visit Willdan's website at www.willdan.com.
Forward-Looking Statements
Statements in this press release that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. It is important to note that Willdan’s actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors listed from time to time in Willdan’s reports filed with the Securities and Exchange Commission, including, but not limited to, the Annual Report on Form 10-K filed for the year ended December 30, 2022. Willdan cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Willdan disclaims any obligation to, and does not undertake to, update or revise any forward-looking statements in this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240110773727/en/
Al Kaschalk
VP Investor Relations
310-922-5643
akaschalk@willdan.com
Source: Willdan Group, Inc.
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