The £40bn energy tech revolution

Yesterday we saw the government make a bold statement in its latest energy strategy – committing to save consumers up to £40 billion by 2050, at the same time as dragging our aging energy system kicking and screaming into the 21st century. How? By building more power stations to meet our insatiable appetite for energy? Not quite. In fact, to the contrary. New rules will make it easier for people to generate their own renewable power, store it in batteries, and sell it to the National Grid, meaning we need fewer power stations in the future.

Energy

Who will benefit?

Among the first to benefit from the changes will be households with solar panels and battery storage. Currently, they are charged tariffs when they import/export electricity to and from their home and the grid. The government has realised that this rule must change because it deters people from using power more flexibly in a way that will benefit everyone.

Energy

Any kind of ‘smart’ appliances you have in the home could help you save ££’s on your energy bill. For example, you could enable your washing machine to be turned on by the internet to maximise the use of cheap solar power on a sunny afternoon, or your freezer could be switched off for a few minutes to smooth demand at peak times.

Energy

When can I benefit?

These new rules are expected to take effect over the next year. However, the role of the consumer is already changing. Moixa, a British home battery company mentioned in the report, has already installed their solar plus storage package in more than 1,000 homes across the UK. They calculate their customers could save up to 60% a year on their energy bills. Here’s Chris Wright, chief technical director at Moixa, explaining how the role of the consumer is changing in the energy market.

Energy

This new strategy could deliver a more flexible energy system by removing barriers to smart and battery technology, reducing costs for consumers. We’re hoping it will accelerate the transition to a cost-effective, resilient and low-carbon energy system.

We’ve worked alongside some inspiring change-makers in the energy industry. To hear more about Moixa and their work with smart batteries head over to our blog. Or, to hear from some of the other energy pioneers we’ve worked with, visit our Pioneer blog series. Some of those recently featured include Stephen Irish, co-founder of Hyperdrive Innovation, and Robert Edwards, founder of Solar Polar.

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