Blockchain & IoT Enabled Energy Revolution (BITE-ER)

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Innovate UK
Innovate UK
Innovate UK
Innovate UK
Innovate UK

£346,960

April 30, 2018

Jan. 31, 2019

The home is being remodelled into a connected and personalised eco-system of services, spanning energy management and distributed generation to appliances, vehicles and climate control (PwC 2017). Powervault, the UK's first provider of cost effective distributed battery energy storage solutions (BESS) to domestic homes, (lowering consumers' electricity bills whilst reducing peak grid demand) wishes to take advantage of this substantial market opportunity through integrating its BESS system into the connected home.

Through incorporating cutting-edge digital technologies in the BESS, it is envisaged that Powervault will revolutionise the way energy is generated, used and managed throughout the home, allowing not only for householders to optimise energy management in accordance with the rest of the smart home ecosystem, but to facilitate the generation of additional revenue streams, through demand side response, frequency response and peer to peer trading.

This feasibility study seeks to explore the viability and establish the pathway towards taking advantage of the significant market opportunity presented by the connected home (estimated to be £2bn UK market opportunity by 2020), whilst facilitating the UK's transition towards minimal environmental impact of energy consumption (through distributed energy generation/storage), whereby in light of this objective, it is essential that UK homes become smarter.