Resilience Fund support for added costs in project 106188 due to Covid-19

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Title
Resilience Fund support for added costs in project 106188 due to Covid-19

CoPED ID
622ae5ba-0f73-47db-954d-9418967637f7

Status
Closed


Value
£62,588

Start Date
Dec. 1, 2021

End Date
Jan. 31, 2022

Description

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Hypervolt's mission is to enable market-wide adoption of EVs at least cost, contributing to low carbon transport and energy targets. 30% of new vehicle sales are forecasted to be electric vehicles (EVs) by 2025, and 40% of households are expected to have chargers by 2030, putting EVs on track to become the largest source of domestic electricity demand. National Grid forecasts additional system-wide peak demand from EVs of 6 to 18GW in 2050\. This presents a significant economic risk in grid integration costs, as EV charger deployment today is organic, directed by user preference with little consideration of local grid impacts. Leading 'smart' options offer packaged charger + tariff solutions, but off-peak charging incentives are based on national price signals, and as such are insufficiently granular for a problem that is nationwide but highligly localised. Unabated, previous innovation programmes concluded that 32% of medium and low voltage feeders will require upgrading or replacement when 40--70% of households have EVs (10 years from now) costing \\\>£2.2bn. The challenge is therefore how to enable market-wide adoption of EVs without adding significant integration costs on the grid.

Hypervolt seeks to address this problem by delivering an enhanced chargepoint solution that better aligns EV charging with the requirements of the electricity system, and better accounts for local system requirements within a national context. This Innovate UK-funded project supports the further development of a prototype to deploy a technology pilot trial in the field. Projects outcomes will validate new technology features, test end user acceptance, and inform the business model for commercialisation. At scale, Hypervolt's disruptive pricing structure and groundbreaking product features will enable accelerated mass-market uptake of EV chargepoints even in grid-constrained areas whilst limiting infrastructure investment costs, outlining a solution both more scalable and suitable than the status quo to a problem that is market-wide but highly localised.

Hypervolt Limited LEAD_ORG
Hypervolt Limited PARTICIPANT_ORG

Nick Wood PM_PER

Subjects by relevance
  1. Costs
  2. Innovations
  3. Pricing
  4. Households (organisations)
  5. Markets (systems)
  6. Chargers
  7. Enterprises
  8. Electricity

Extracted key phrases
  1. Resilience Fund support
  2. Grid integration cost
  3. Significant integration cost
  4. Infrastructure investment cost
  5. Wide peak demand
  6. Project outcome
  7. EV charger deployment today
  8. Wide adoption
  9. Local grid impact
  10. Local system requirement
  11. New technology feature
  12. New vehicle sale
  13. Market uptake
  14. Domestic electricity demand
  15. EVs

Related Pages

UKRI project entry

No UK locations linked to this project.