Blockchain & IoT Enabled Energy Revolution (BITE-ER)

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Title
Blockchain & IoT Enabled Energy Revolution (BITE-ER)
CoPED ID
f739ef41-4363-467a-840a-4d7ffbe84b35
Status
Closed
Funders
Innovate UK
Innovate UK
Value
£138,784
Start Date
April 30, 2018
End Date
Jan. 31, 2019
Description

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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.

Powervault Ltd LEAD_ORG
Powervault Ltd PARTICIPANT_ORG

Nick Wood PM_PER
Nick Wood PM_PER

Subjects by relevance
  1. Energy
  2. Renewable energy sources
  3. Energy control
  4. Electricity market
  5. Energy consumption (energy technology)
  6. Home
  7. Digital technology
  8. Energy saving
  9. Smart houses
  10. Consumer behaviour
  11. Optimisation
  12. Markets (systems)
  13. Distribution of electricity
  14. Residence

Extracted key phrases
  1. IoT Enabled Energy Revolution
  2. Pound;2bn UK market opportunity
  3. UK home
  4. Connected home
  5. Battery energy storage solution
  6. Smart home ecosystem
  7. Domestic home
  8. Energy generation
  9. Blockchain
  10. Energy management
  11. Substantial market opportunity
  12. Significant market opportunity
  13. Energy consumption
  14. Way energy
  15. BITE

Related Pages

UKRI project entry

UK Project Locations