Thule Energy Storage

Thule Energy Storage is a company that offers a thermal energy storage solution called the Ice Bear. The Ice Bear is designed to help residential and commercial customers reduce their energy consumption and costs associated with air conditioning during peak demand periods. It operates by freezing ice at night when electricity rates are lower, and then using this stored thermal energy to provide cooling during the day when rates are higher.

The Ice Bear system integrates with existing air conditioning units, automatically disabling the compressor during peak hours and utilizing the frozen ice to provide refrigerant for cooling. This not only helps customers save money by shifting their energy usage to off-peak periods, but also alleviates strain on the electrical grid during times of high demand.

As of December 2022, Thule Energy Storage had deployed approximately 1,500 Ice Bear units, primarily in regions with significant air conditioning needs and time-of-use electricity pricing structures. The company's business model involves partnering with utilities to offer the Ice Bear as part of demand management programs, enabling customers to take advantage of lower off-peak rates while reducing overall grid stress.