Powervault & Octopus Energy
Powervault partners with Octopus Energy to enhance the benefits of smart tariffs and smart batteries
Powervault and Octopus Energy have partnered to enhance the value of smart tariffs, batteries and hot water control for both landlords and the grid. Powervault is integrating its latest energy storage system, Powervault 3, with Octopus Energy’s innovative smart tariff, Agile, and adding smart hot water heater controls using IoT technology. This new collaboration is aiming to use Powervault 3‘s smart control system to heat water more efficiently. Powervault 3 will integrate with the Agile tariff and ensure the hot water is on and the batteries are charged at the most economic hours of the day – automatically. This will help customers avoid importing expensive electricity from the grid at peak times to heat their hot water, which will help reduce their energy bills.
This innovative integration of technologies – smart water heating using Powervault 3 and the Agile tariff – provides a new way to support the grid at peak times. It’s provides a new dimension to Demand Side Response (DSR) where the energy customers buy and use can be shifted to a different time of day (out of the peak period when energy’s most expensive and carbon-heavy). By enabling DSR and thereby reducing demand for electricity at peak times, we are supporting a low-carbon future. Octopus Energy writes:
Collectively, we need to shift our usage out of peak times to reduce strain on the grid, and make more of the abundant green energy here in the UK that often goes to waste. But without any battery storage, no one would want to delay dinner or children’s baths. The beauty of this system is that you CAN move the time you heat your hot water, or use large appliances like dishwashers, washing machines and dryers. Water costs loads to heat, so this trial is a great way to measure the impact of shifting energy consumption out of peak times.
The trial is funded by the Department of Business, Energy and Industrial Strategy (BEIS), which is looking at a strategy for the gradual electrification of hot water to reduce our dependence on fossil fuels in the coming years. The Committee on Climate Change says: “Meeting future carbon budgets and the UK’s 2050 target to reduce emissions by at least 80% of 1990 levels will require reducing domestic emissions by at least 3% per year. This will require existing progress to be supplemented by more challenging measures.”