CONFIDENTIAL
CalChoice
Board Meeting
Lunar Overview & Solution
Presentation
02.17.2026
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Agenda
● Lunar Overview & Introduction
● DERMS overview & Lunar Gridshare
○ What is a DERMS
○ Benefits to CalChoice of a DERMS
○ Why the Lunar DERMS?
● CCA Experience
● Program outline & contract structure
● Summary & next steps
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Lunar Introduction
& Overview
Lunar’s mission
Power homes around the world
with endless clean energy.
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Meet the Lunar Team
120+ years of industry expertise and counting…
Kunal Girotra
Founder and CEO
Mark Holveck
Chief Architect
Chris Wright
SVP of Software
Tech and Product
Rishi Simha
VP of Finance
and Accounting
Ed Gunn
VP of Revenue
Grace Hsu
VP of Legal and
People
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Global backing; $530m raised to rollout DERs
Lunar UK
Japanese
customers
Lunar HQ
Production
sites US/MX
German customers
Iberian customers
Founded August 2020 Locations Mountain View, CA Management (HQ)
London, UK
Customers Across 3 continents
(N. America, Europe,
Asia)
Employees 260+
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DERMS Overview &
Lunar Gridshare
Solution
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What is a DERMS?
Virtual Power Plants use a Distributed
Energy Resource Management System
(DERMS) to control devices at a customer
site. A DERMS is a centralized software
system that monitors, controls, and
optimizes customer-sited DERs to provide
reliable, clean, and cost-effective power.
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Utility Utility Utility
● Lower energy costs
● Distributed Energy Resource
(DER) financial accessibility
● Provide resilience
● DER access to underserved
communities
● Defer distribution upgrade
needs
● Support local economic
development
● Support CCA’s renewable
energy and GHG goals
● Reduce energy and Resource
Adequacy (RA) costs
● Market risk exposure
mitigation
● Deepen customer
relationships
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Benefits of a DERMS
Customer benefits CalChoice benefits Grid and societal benefits ● Experience. 10+ years building distributed energy solutions globally. ● E2E Solution. We do it all: in-house- technology + program design, implementation, management. ● Flexibility. Expansive feature library: we have your needs covered for today and any new CalChoice Member requirements in the future.
● Multiple Value Streams. We don’t just deliver CCA value, we co-optimize devices around customer value, CCA value (Virtual Power Plant), and additional services (CAISO, T&D services, carbon optimization).
● We Speak Installer & OEM. We have a large network of installers and OEM (Original Equipment Manufacturer) partners.
● CCA focus. Laser focused on delivering to CCAs, experience across a range of CCA use cases. ● Local. We are here when you need help, in person or on the phone. We come to you.
Why Lunar and the Gridshare DERMS
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Recent CCA
Experience
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Recent CCA Experience Highlights
● Q1 ‘25 Electric Vehicle (EV) program launch
● Q1 ‘ 26 Energy Storage System (ESS)
program launch
● Target 3000 EVs in 2026 and 3800 ESS
● 150 MWh nominal capacity between EV/ESS
programs
● 5.5x incentive rate for CARE/FERA
● Primary DER goals:
○ Shift load to cheapest hours
○ RA cost reduction
○ Community resilience
● Q1 ‘26 ESS program launch (SBS)
● Q2/3 ‘ 26 General market ESS program
● 345 ESS in program, growth to >1k targeted
for this year
● Primary DER goals:
○ Income qualified program offering
○ Enhanced RA strategy + cost redux
● Q3 ‘26 target launch
● Currently engaged in comprehensive
program design study
● Targets: TBD
● Primary DER goals:
○ Full customer cost impact analysis
○ DER adoption encouragement
○ RA cost reduction
Lunar is the most experienced and uniquely focused DERMS implementer with CA CCAs
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Program Outline &
Proposal Overview
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High Level Implementation Plan
Lunar’s proposal to CalChoice is structurally similar in nature to the SVCE/PCE solution (piggyback).
We intend to deploy our best in class DERMS platform to deliver a flexible one-stop solution for CalChoice members’ DER management needs.
● Phase 1: Program goals, market sizing, DER roadmap
○ Immediate goal: include current asset fleet for RA load reduction in time for April 2026 RA filing deadline
● Phase 2: Setup, Configuration, Testing
○ Gridshare DERMS configuration
○ Onboard existing TPO (Third Party Owned) storage assets ○ Engage with broader TPO community as part of FlexWise VPP (Virtual Power Plant) ● Phase 3: Expansion & Future Programs
○ BYOD (ESS) program design and launch
○ Additional DER verticals
Q1-26
Q2-26
Q3-26
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Main Services Agreement (MSA)
Scope 1: Gridshare DERMS
Integrations & Partner Management - Database of Record Optimization, Dispatch/Control - Forecasting - DERMS Operation Program Scope of Work (SoW): FlexWise
Program setup
VPP program design, setup & testing, Enrollment & customer eligibility checks, Partner SOW(s), Custom Gridshare configuration Proposed scope and contract architecture
Program Management
● Dispatch
● M&V
● Market settlement
● Optional: customer payment management
● Market Outreach
● Customer Support
● Incentive Processing & Payment
Additional Scope(s):
Create and implement future programs
● New Program SoWs (e.g. for BYOD battery program)
● Program design workshops & SOW execution
● Power procurement strategy integration
● New DER vertical (Tstat, EV) program setup, asset testing, etc. (see program setup to left)
● Optional: build program manual, impact simulations, comparable program analysis, and more.
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Summary & Next
Steps
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Key Benefits to CalChoice Member CCAs
Financial benefit - DER programs at scale can deliver dispatchable capacity at rates competitive with traditional forward market prices
Risk management - physical hedge to reduce peak pricing exposure & community resilience Environmental benefits & redirection of funds from traditional (emitting) resources Equity benefits - propose increasing the program benefits available to underserved communities (CARE, FERA) to drive community DER access, which are typically out of reach for these customer classes Single Pane of Glass platform to deliver flexible solutions across asset classes & program offerings ● Your Member CCAs have both common and unique needs. Our experienced team and comprehensive platform address each need so no member is left behind.
● Differing environmental and market forces across CCAs resulting in unique DER proliferation by CCA. ● Seamless integration of existing programs and vendors Stability across program offerings accelerates your DER rollout, increasing the impact of your DER strategy
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Next steps
● Contract discussion & execution
● Working sessions to refine SoWs
● Immediate mapping of DERs to include in 27/28 RA filing ● Initial program design workshops for FlexWise program ● Future DER roadmapping workshops
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Backup Slides
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Key Value Drivers & Risk Management Levers
● Reduce CalChoice’s RA obligation
● Daily load shift
● CEC peak demand forecast
● Meet CalChoice’s RA obligation
● Event-based
● CAISO market participation via Proxy
Demand Response (PDR)*
Load modification CAISO market integration
Physical hedge to mitigate unhedged RT CAISO spot market exposure Peak Pricing / Emergency Demand Resource
90 MW
peak
dispatch
Multi-device
+
whole-home
Lunar Gridshare DERMS
Designed for house-by-house customer
value creation, while
delivering distributed
power plants at
massive scale HEMS + VPP
in one
Fleet and
device level
performance
monitoring
Dynamic
tariff support
Customer
experience
and offers
130,000
DERs
9 GWh
of VPP delivery
650 MW 1.2 GWh
21 CONFIDENTIAL
End-to-end management stack for DER operators
ISO
ESS OEM API Smart
Thermostats Heat OEM API EV(SE) OEM API/OCPP C&I Open ADR Intuitive UX Multi-DER
optimization VPP enrollment
OEM API
Non-exhaustive list of Gridshare HEMS & App partners/integrations shown ESS TPO OADR/API Aggregator OADR/API
Data Historian
AMI data
M&V data sync
Ops Teams
Utility/LSE/Fleet Owner
CRM/CIS
Gridshare DERMS Data, Reporting Forecasting,
Simulations
Optimization,
Dispatch
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Indicative Proposed Timeline
Lunar is prepared to move quickly to execute immediate scope priorities while simultaneously planning for future expansion
Timeline serves as indicative example. Particularly future programs (right side) will require scoping and agreement with Calchoice team DER Roadmap Workshop(s)
Kickoff workshop to build DER program expansion
plan (BYOD & plan for new DER vertical inclusion, etc.) FlexWise VPP Launch
Following program design,
testing + add’l program
design elements, launch of
expanded Powerchoice VPP
Program Design Workshop (FlexWise VPP)
Kickoff session for program design steps
Q1-26
Initial Proposal
Proposal timeline
Scope Description
Pricing structure
[Pending approval] Project kickoff
Stakeholder engagement (initial scopes),
DERMS setup & integration
Draft Contract & Proposal Deck finalized
Agreed proposal structure
(via this presentation)
Complete MSA & initial SOW(s)
Add’l DER vertical
program launch 1
[TBC] EV managed
charging / Tstat / C&I
Gridshare Testing
Functionality & use
case testing
[Add’l DER Program Design
as needed/requested pending
initial roadmap]
Program design workshop
Dispatch strawman
CC Board Meeting
Present Lunar proposal
RA Filing Deadline (27/28)
Target including all current
FlexWise assets in RA load
reduction forecast for 27/28
filing year
Q2-26 Q3-26