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Smart electricity usage without the formation of demand clusters
Are you interested in the challenges and opportunities related to smart electricity usage? Do you want to shape the future of the energy sector with ground-breaking innovation? You might be exactly who we’re looking for!
Grid.vc, Nord Pool, Fingrid, Lahti Energia and Nordic Innovation Accelerator are organizing an energy sector innovation challenge, with a theme: Smart electricity usage without the formation of demand clusters. We are looking for 10 teams to run with this challenge and to present their ideas at Cleantech Venture Day in Lahti, Finland on 12.-13. June for a wide audience, including numerous investors! One or more teams selected by the jury will also be invited to present their idea at Cleantech Venture Day London in October.
The winner of the challenge will receive a consulting package from Nord Pool, aiding them in commercializing and further developing their idea, as well as a one-year licence to use Nord Pool’s data services. Both Grid.vc and Nord Pool are also on the lookout for potential collaborations opportunities, and Grid.vc has earmarked 50 000 euros for this challenge with hopes of finding a promising idea to invest in!
Why new ideas are sorely needed:
The usual goal of demand-side management is to encourage the consumer to use less energy during peak hours, or to move the time of energy use to off-peak times such as night-time and weekends. This objective to use electricity in smart way has facilitated formation of a ‘demand cluster’ which is driven by home automation solutions. This demand cluster is expected to be even bigger in the future with wider adoption of electric vehicles.
The end-result is that when the price is at its lowest, the peak in electricity consumption is very high. So high, that local grids may often be unable to handle the load, and in certain cases unnecessarily huge investments might be needed just to be able to cope with the peak hours. Another effect that this type of a demand cluster might have is on price: the suppliers of electricity are forced to buy more electricity to their customers at more expensive rates, which will push the price of electricity up.
So, this is where you come in:
The challenge calls for any ideas and solutions, which promote smart electricity usage while considering the above described problems the demand cluster formation may cause. The suggested solutions may cover the whole value chain ranging from consumer-oriented price-driven solutions to optimum deployment of energy assets and power flows in distribution networks, and to market participation.
All clear? If not, get in touch: email@example.com
We’re excited to hear from you and learn about your brilliant idea!
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